[Federal Register Volume 62, Number 81 (Monday, April 28, 1997)]
[Rules and Regulations]
[Pages 22881-22886]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-10838]


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FEDERAL RESERVE SYSTEM

12 CFR Parts 207, 220, 221 and 224

[Regulations G, T, U and X]


Securities Credit Transactions; List of Marginable OTC Stocks; 
List of Foreign Margin Stocks

AGENCY: Board of Governors of the Federal Reserve System.

ACTION: Final rule; determination of applicability of regulations.

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SUMMARY: The List of Marginable OTC Stocks (OTC List) is composed of 
stocks traded over-the-counter (OTC) in the United States that have 
been determined by the Board of Governors of the Federal Reserve System 
to be subject to the margin requirements under certain Federal Reserve 
regulations. The List of Foreign Margin Stocks (Foreign List) is 
composed of foreign equity securities that have met the Board's 
eligibility criteria under Regulation T. The OTC List and the Foreign 
List are published four times a year by the Board. This document sets 
forth additions to and deletions from the previous OTC List and the 
previous Foreign List.

EFFECTIVE DATE: May 12, 1997.

FOR FURTHER INFORMATION CONTACT: Peggy Wolffrum, Securities Regulation 
Analyst, Division of Banking Supervision and Regulation, (202) 452-
2781, Board of Governors of the Federal Reserve System, Washington, 
D.C. 20551. For the hearing impaired only, contact Diane Jenkins, 
Telecommunications Device for the Deaf (TDD) at (202) 452-3544.

SUPPLEMENTARY INFORMATION: Listed below are the deletions from and 
additions to the Board's OTC List, which was last published on January 
27, 1997 (62 FR 3773), and became effective February 10, 1997. A copy 
of the complete OTC List is available from the Federal Reserve Banks.
    The OTC List includes those stocks traded over-the-counter in the 
United States that meet the criteria in Regulations G, T and U (12 CFR 
Parts 207, 220 and 221, respectively). This determination also affects 
the applicability of Regulation X (12 CFR Part 224). These stocks have 
the degree of national investor interest, the depth and breadth of 
market, and the availability of information respecting the stock and 
its issuer to warrant regulation in the same fashion as exchange-traded 
securities. The OTC List also includes any OTC stock designated for 
trading in the national market system (NMS security) under rules 
approved by the Securities and Exchange Commission (SEC). Additional 
OTC stocks may be designated as NMS securities in the interim between 
the Board's quarterly publications. They will become automatically 
marginable upon the effective date of their NMS designation. The names 
of these stocks are available at the SEC and at the National 
Association of Securities Dealers, Inc. and will be incorporated into 
the Board's next quarterly publication of the OTC List.
    Also listed below are the deletions from and additions to the 
Foreign List which was last published on January 27, 1997 (62 FR 3773) 
and became effective February 10, 1997. A copy of the complete Foreign 
List is available from the Federal Reserve banks.

Public Comment and Deferred Effective Date

    The requirements of 5 U.S.C. 553 with respect to notice and public 
participation were not followed in connection with the issuance of this 
amendment due to the objective character of the criteria for inclusion 
and continued inclusion on the Lists specified in 12 CFR 207.6 (a) and 
(b), 220.17 (a), (b), (c) and (d), and 221.7 (a) and (b). No additional 
useful information would be gained by public participation. The full 
requirements of 5 U.S.C. 553 with respect to deferred effective date 
have not been followed in connection with the issuance of this 
amendment because the Board finds that it is in the public interest to 
facilitate investment and credit decisions based in whole or in part 
upon the composition of these Lists as soon as possible. The Board has 
responded to a request by the public and allowed approximately a two-
week delay before the Lists are effective.

List of Subjects

12 CFR Part 207

    Banks, Banking, Credit, Margin, Margin requirements, National 
Market System (NMS Security), Reporting and recordkeeping requirements, 
Securities.

12 CFR Part 220

    Banks, Banking, Brokers, Credit, Margin, Margin requirements, 
Investments, National Market System (NMS Security), Reporting and 
recordkeeping requirements, Securities.

12 CFR Part 221

    Banks, Banking, Credit, Margin, Margin requirements, National 
Market System (NMS Security), Reporting and recordkeeping requirements, 
Securities.

[[Page 22882]]

12 CFR Part 224

    Banks, Banking, Borrowers, Credit, Margin, Margin requirements, 
Reporting and recordkeeping requirements, Securities.

    Accordingly, pursuant to the authority of sections 7 and 23 of the 
Securities Exchange Act of 1934, as amended (15 U.S.C. 78g and 78w), 
and in accordance with 12 CFR 207.2(k) and 207.6 (Regulation G), 12 CFR 
220.2 and 220.17 Regulation T), and 12 CFR 221.2(j) and 221.7 
(Regulation U), there is set forth below a listing of deletions from 
and additions to the OTC List and the Foreign List.

Deletions From the List Of Marginable OTC Stocks

Stocks Removed for Failing Continued Listing Requirements

AMERICAN EDUCATIONAL PRODUCTS INC.
    $.01 par common
AMERICAN LIFE HOLDING COMPANY
    $.01 par redeemable cumulative preferred
ANTARES RESOURCES CORPORATION
    $.001 par common
ATS MEDICAL, INC.
    Warrants (expire 03-09-97)
BANK OF LOS ANGELES
    Warrants (expire 12-01-98)
BIOMAGNETIC TECHNOLOGIES, INC.
    No par common
BLACK HAWK GAMING & DEVELOPMENT COMPANY, INC.
    Warrants (expire 06-30-97)
CALLOWAY'S NURSERY, INC.
    $.01 par common
CERPLEX GROUP, INC., THE
    $.001 par common
CHAMPION ROAD MACHINERY, LTD.
    No par common
CHARTWELL LEISURE, INC.
    Rights (expire 03-13-97)
CINCINNATI MICROWAVE, INC.
    No par common
    Warrants (expire 12-31-98)
COMMUNITY FIRST BANKSHARES, INC.
    Depositary Shares
CYTROGEN CORPORATION
    Warrants (expire 01-31-97)
DIAGNOSTIC HEALTH SERVICES, INC.
    Warrants (expire 06-22-98)
DIAMOND TECHNOLOGY PARTNERS, INC.
    Rights (expire 03-31-97)
ENCORE COMPUTER CORPORATION
    $.01 par common
EXCEL TECHNOLOGY, INC.
    Class B, warrants (expire 02-08-98)
FOREST OIL CORPORATION
    $.75 par convertible preferred
HARISTON CORPORATION
    No par common
HARVARD INDUSTRIES, INC.
    Class B, $.01 par common
INDUSTRIAL HOLDINGS, INC.
    Class A, warrants (expire 01-16-97)
IWI HOLDING, LIMITED
    No par common
KUSHNER-LOCKE COMPANY, THE
    Warrants (expire 03-20-97)
L.A. T SPORTSWEAR, INC.
    No par common
LAFAYETTE INDUSTRIES, INC.
    $.01 par common
MANHATTAN LIFE INSURANCE COMPANY
    $2.00 par common
MERIS LABORATORIES, INC.
    No par common
MICROCAP FUND, INC., THE
    $.01 par common
MICROELECTRONIC PACKAGING, INC.
    No par common
MULTIMEDIA CONCEPTS INTERNATIONAL, INC.
    $.001 par common
NATIONAL MERCANTILE BANCORP (CA)
    No par common
NATIONSBANK CORPORATION
    Depositary shares
QUANTUM CORPORATION
    6\3/8\% convertible subordinated debentures
SALICK HEALTH CARE, INC.
    $.001 par common
SMT HEALTH SERVICES, INC.
    Warrants (expire 03-04-97)
SPECIALTY TELECONSTRUCTORS, INC.
    Warrants (expire 11-02-99)
TELETEK, INC.
    $.0001 par common
UNITED HOME LIFE INSURANCE CO.
    $1.00 par common
UROHEALTH SYSTEMS, INC.
    Warrants (expire 03-20-97)

Stocks Removed for Listing on a National Securities Exchange or Being 
Involved in an Acquisition

AFFILIATED COMPUTER SERVICES, INC.
    Class A, $.01 par common
AHI HEALTHCARE SYSTEMS, INC.
    $.01 par common
ALLIED BANKSHARES, INC. (Georgia)
    $1.00 par common
ALLIED GROUP, INC.
    No par common
AMERICAN RADIO SYSTEMS CORPORATION
    Class A, $.01 par common
AMERICAN STUDIOS, INC.
    $.001 par common
ARGENTBANK
    $2.50 par common
ATLANTIC TELE-NETWORK, INC.
    $.01 par common
AZTEC MANUFACTURING CO.
    $1.00 par common
B. M. J. FINANCIAL CORP.
    $1.00 par common
BABY SUPERSTORE, INC.
    No par common
BAREFOOT INC.
    $.01 par common
BRIDGEVILLE SAVINGS BANK, FSB (Pennsylvania)
    $.10 par common
CABLE DESIGN TECHNOLOGIES CORPORATION
    $.01 par common
CAVCO INDUSTRIES, INC.
    $.10 par common
CENTRAL TRACTOR FARM & COUNTRY INC.
    $.01 par common
CHEMFAB CORPORATION
    $.10 par common
CHEMPOWER, INC.
    $.10 par common
CITI-BANCSHARES, INC. (Florida)
    $.01 par common
CLIFFS DRILLING COMPANY
    $.01 par common
CONSOLIDATED GRAPHICS, INC.
    $.01 par common
DYNATECH CORPORATION
    $.20 par common
EASTBAY, INC.
    $.01 par common
ENERGY RESEARCH CORPORATION
    $.0001 par common
EPIC DESIGN TECHNOLOGY, INC.
    No par common
EZ COMMUNICATIONS, INC.
    Class A, $.01 par common
FHP INTERNATIONAL CORPORATION
    $.05 par common
    Series A, $.05 par cumulative convertible preferred
FIBERMARK, INC.
    $.001 par common
FIDELITY FINANCIAL BANKSHARES CORPORATION
    $1.00 par common
FIRST FEDERAL BANCSHARES OF EAU CLAIRE INC.
    $.01 par common
FIRST FEDERAL SAVINGS BANK OF BRUNSWICK, GEORGIA
    $1.00 par common
FIRST STATE FINANCIAL SERVICES, INC.
    $.01 par common
FLORIDA FIRST BANCORP INC.
    $1.00 par common
FORASOL-FORMER, N.V.
    Common shares (par NLG 0.01)
GREAT BAY POWER CORPORATION
    $.01 par common
GROVE BANK (Massachusetts)
    $.10 par common
HOMELAND BANKSHARES CORPORATION
    $12.50 par common
HORIZON BANCORP, INC. (Texas)
    $.01 par common

[[Page 22883]]

INDEPENDENCE BANCORP, INC. (New Jersey)
    $1.667 par common
INNOTECH, INC.
    $.001 par common
IWC RESOURCES CORPORATION
    No par common
KINDERCARE LEARNING CENTERS, INC.
    $.01 par common
    Warrants (expire 04-01-97)
LASALLE RE HOLDINGS, LIMITED
    $1.00 par common
LIBERTY BANCORP, INC. (Illinois)
    $.01 par common
MASTEC, INC.
    $.10 par common
MEDEX, INC.
    $.01 par common
MIDLAND FINANCIAL GROUP, INC.
    No par common
MILGRAY ELECTRONICS, INC.
    $.25 par common
NEW WORLD COMMUNICATIONS GROUP INC.
    Class A, $.01 par common
NORAND CORPORATION
    $.01 par common
OSBORN COMMUNICATIONS CORPORATION
    $.01 par common
OXFORD RESOURCES CORPORATION
    Class A, $.01 par common
PANATECH RESEARCH AND DEVELOPMENT CORPORATION
    $.01 par common
PROVIDENCE AND WORCESTER RAILROAD COMPANY
    $.50 par common
QUALITY FOOD CENTERS, INC.
    $.001 par common
RESEARCH MEDICAL, INC.
    $.50 par common
RIVERSIDE NATIONAL BANK (California)
    $1.25 par common
SCI SYSTEMS, INC.
    $.10 par common
SDNB FINANCIAL CORP.
    No par common
SECURITY BANCORP (Montana)
    $1.00 par common
SOFTDESK INC.
    $.01 par common
SOUTHWEST BANKS, INC.
    $.10 par common
SQA INC.
    $.01 par common
SQUARE INDUSTRIES, INC.
    $.01 par common
STROBER ORGANIZATION, INC.
    $.01 par common
SUIZA FOODS CORPORATION
    $.01 par common
SYSTEMIX, INC.
    $.01 par common
TARGET THERAPEUTICS, INC.
    $.0025 par common
THERATX, INCORPORATED
    $.001 par common
TOMPKINS COUNTY TRUSTCO, INC. (New York)
    $1.66\2/3\ par common
TOWER AUTOMOTIVE, INC.
    $.01 par common
TPI ENTERPRISES, INC.
    $.01 par common
TRIAD SYSTEMS CORPORATION
    $.01 par common
TROY HILL BANCORP, INC. (Pennsylvania)
    $.01 par common
TSX CORPORATION
    $.01 par common
TYLAN GENERAL INC.
    $.001 par common
UNITED AIR SPECIALISTS, INC.
    No par common
VALLICORP HOLDINGS, INC.
    $.01 par common
VENTURA COUNTY NATIONAL BANCORP
    No par common
VIDEO SENTRY CORPORATION
    $.01 par common
VITALINK PHARMACY SERVICES, INC.
    $.01 par common

Additions to The List of Marginable OTC Stocks

1ST SOURCE CORPORATION
    Fixed rate cumulative trust preferred securities of 1st Source 
Capital Trust
    Floating rate cumulative trust preferred securities of 1st Source 
Capital Trust
AASTROM BIOSCIENCES, INC.
    No par common
ACCELGRAPHICS, INC.
    $.001 par common
AGRIBIOTECH, INC.
    $.001 par common
AHL SERVICES, INC.
    $.01 par common
ALLIANCE IMAGING, INC.
    $.01 par common
AMERICAN BUSINESS FINANCIAL SERVICES, INC.
    $.001 par common
AMERITRADE HOLDING CORPORATION
    Class A, $.01 par common
AMERUS LIFE HOLDINGS, INC.
    Class A, no par common
APEX PC SOLUTIONS, INC.
    No par common
ATL PRODUCTS, INC.
    Class A, $.0001 par common
BANK OF SANTA CLARA
    No par common
BEA SYSTEMS, INC.
    $.001 par common
BIORA AB
    American Depository Receipts
BIOSITE DIAGNOSTIC, INC.
    $.01 par common
BIRMAN MANAGED CARE, INC.
    $.001 par common
BRUNSWICK TECHNOLOGIES, INC.
    No par common
CAPITAL CITY BANK GROUP (Florida)
    $.01 par common
CELL THERAPEUTICS, INC.
    No par common
CERUS CORPORATION
    $.001 par common
CIENA CORPORATION
    $.01 par common
CITIZENS FINANCIAL CORPORATION
    Class A, no par common
COAST BANCORP (California)
    No par common
COAST DENTAL SERVICES, INC.
    $.001 par common
COLDWATER CREEK, INC.
    $.01 par common
COLONIAL DOWNS HOLDINGS, INC.
    Class A, $.01 par common
COMMUNITY CARE SERVICES, INC.
    $.01 par common
COMMUNITY FIRST BANKSHARES, INC.
    Cumulative capital securities
    $25 liquidation
COMMUNITY TRUST BANCORP, INC.
    No par preferred stock
COULTER PHARMACEUTICAL, INC.
    $.001 par common
CRESUD S.A.C.I.F. Y. A.
    American Depositary Receipts
CRYSTAL SYSTEMS SOLUTIONS, LTD.
    Ordinary shares (NIS .01)
DAOU SYSTEMS, INC.
    $.001 par common
DATA SYSTEMS NETWORK CORPORATION
    $.01 par common
DATAMARK HOLDING, INC.
    $.0001 par common
DELTEK SYSTEMS, INC.
    $.001 par common
DIAMOND TECHNOLOGY PARTNERS, INC.
    Class A, $.001 par common
DIGITAL LIGHTWAVE, INC.
    $.0001 par common
EARTHLINK NETWORK, INC.
    $.01 par common
EDGE PETROLEUM CORPORATION
    $.01 par common
ELTEK LTD.
    Ordinary Shares (NIS .6)
EMCORE CORPORATION
    No par common
EMPIRE FEDERAL BANCORP, INC. (Montana)
    $.01 par common
ENCORE MEDICAL CORPORATION
    $.001 par common
    Warrants (expire 03-08-2003)
ENDOCARDIAL SOLUTIONS, INC.
    $.01 par common
ENSTAR, INC.
    $.01 par common

[[Page 22884]]

ENVIRONMENT/ONE CORPORATION
    $.10 par common
EPIX MEDICAL, INC.
    $.01 par common
ERGOBILT, INC.
    $.01 par common
ESPRIT TELECOM GROUP PLC
    American Depositary Receipts
EURONET SERVICES, INC.
    $.01 par common
FIELDWORKS, INCORPORATED
    $.001 par common
FIRST AVIATION SERVICES, INC.
    $.01 par common
FIRST BANKS, INC. (Missouri)
    No par cumulative trust preferred securities
FIRST STERLING BANKS, INC.
    No par common
FIRSTFED BANCORP, INC. (Alabama)
    $.01 par common
FONIX CORPORATION
    $.0001 par common
FOUR MEDIA COMPANY
    $.01 par common
FREEPAGES GROUP PLC
    American Depositary Receipts
FULTON BANCORP, INC.
    $.01 par common
GEOGRAPHICS, INC.
    Warrants (expire 06-01-99)
GFSB BANCORP, INC.
    $.10 par common
GREATER BAY BANCORP (California)
    9.75% cumulative trust preferred
GREEN MOUNTAIN COFFEE, INC.
    $.01 par common
GS FINANCIAL CORPORATION
    $.01 par common
GUARANTY FINANCIAL CORPORATION
    $1.25 par common
GUITAR CENTER, INC.
    $.01 par common
GULF ISLAND FABRICATION, INC.
    No par common
HAMILTON BANCORP, INC. (Florida)
    $.01 par common
HEMLOCK FEDERAL FINANCIAL CORPORATION
    $.01 par common
HIGH POINT FINANCIAL CORPORATION
    No par common
HOMELAND HOLDING CORPORATION
    $.01 par common
HOSPITALITY WORLDWIDE SERVICES, INC.
    $.01 par common
HUMASCAN, INC.
    $.01 par common
IAT MULTIMEDIA, INC.
    $.01 par common
ICG COMMUNICATIONS, INC.
    $.01 par common
ILEX ONCOLOGY, INC.
    $.01 par common
ILOG S.A.
    American Depositary Receipts
IMAGE GUIDED TECHNOLOGIES, INC.
    No par common
INTERSTATE NATIONAL DEALER SERVICES, INC.
    Warrants (expire 07-22-99)
IONA TECHNOLOGIES, PLC
    American Depositary Receipts
JACOR COMMUNICATIONS, INC.
    Warrants (expire 02-27-2002)
JAKKS PACIFIC, INC.
    $.001 par common
JEFFBANKS, INC.
    9.25% no par preferred securities
JENNA LANE, INC.
    $.01 par common
    Class A, warrants (expire 03-19-2000)
JUDGE GROUP, INC., THE
    $.01 par common
KNIGHTSBRIDGE TANKERS, LTD.
    $.01 par common
KOS PHARMACEUTICALS, INC.
    $.01 par common
LOGITECH INTERNATIONAL S.A.
    American Depositary Receipts
MACROVISION CORPORATION
    $.01 par common
MANSUR INDUSTRIES, INC.
    $.001 par common
MEADE INSTRUMENTS CORPORATION
    $.01 par common
MEDIALINK WORLDWIDE INCORPORATED
    $.01 par common
MEDICAL MANAGER CORPORATION
    $.01 par common
MEDIRISK, INC.
    $.001 par common
METRO INFORMATION SERVICES, INC.
    $.01 par common
MICRO THERAPEUTICS, INC.
    $.001 par common
MISSISSIPPI VALLEY BANCSHARES, INC.
    Floating rate cumulative trust--preferred securities of MVBI 
Capital Trust
MULTIMEDIA GAMES, INC.
    $.01 par common
NACT TELECOMMUNICATIONS, INC.
    $.01 par common
NAMIBIAN MINERALS CORPORATION
    No par common
NATIONAL AUTO FINANCE COMPANY, INC.
    $.01 par common
NEOMAGIC CORPORATION
    $.001 par common
NETCOM SYSTEMS, AB
    American Depositary Receipts
NETSMART TECHNOLOGIES, INC.
    $.01 par common
NEWSOUTH BANCORP, INC. (North Carolina)
    $.01 par common
NEXAR TECHNOLOGIES, INC.
    $.01 par common
NOVATEL, INC.
    No par common
OLD GUARD GROUP, INC.
    No par common
OMNIQUIP INTERNATIONAL, INC.
    $.01 par common
ORTEC INTERNATIONAL, INC.
    $.001 par common
OVERLAND DATA, INC.
    No par common
PACIFICARE HEALTH SYSTEMS, INC.
    Series A,
    $1.00 par cumulative convertible preferred
PALEX, INC.
    $.01 par common
PEOPLES FINANCIAL CORPORATION
    No par common
PEREGRINE SYSTEMS, INC.
    $.001 par common
PERPETUAL BANK, A FEDERAL SAVINGS BANK (South Carolina)
    $1.00 par common
PHOTOELECTRON CORPORATION
    $.01 par common
PHYSICIANS' SPECIALITY CORPORATION
    $.001 par common
PREMIER RESEARCH WORLDWIDE, INC.
    $.01 par common
PRIME CAPITAL CORPORATION
    $.05 par common
PROMEDCO MANAGEMENT COMPANY
    No par common
QUALIX GROUP, INC.
    $.001 par common
RADIANT SYSTEMS, INC.
    No par common
RAIL AMERICA, INC.
    $.001 par common
RANDGOLD & EXPLORATION COMPANY LTD.
    American Depositary Receipts
ROYALE ENERGY, INC.
    No par common
SAVANNAH BANCORP, INC., THE
    $1.00 par common
SEARCH CAPITAL GROUP, INC.
    $.01 par common
    $.01 par preferred stock
SEMICONDUCTOR LASER INTERNATIONAL CORPORATION
    $.01 par common
SIGNATURE INNS, INC.
    No par common
    Series A, cumulative convertible preferred
SILGAN HOLDINGS, INC.
    $.01 par common
SOURCE CAPITAL CORPORATION
    No par common
SOUTHWEST BANCORPORATION OF TEXAS, INC.
    $1.00 par common
SPECIAL METALS CORPORATION
    $.01 par common

[[Page 22885]]

SPECIALITY CARE NETWORK, INC.
    $.001 par common
SPINNAKER INDUSTRIES, INC.
    No par common
STOCKER & YALE, INC.
    $.001 par common
STORAGE DIMENSIONS, INC.
    $.005 par common
SUN BANCORP, INC. (New Jersey)
    9.85% preferred stock
TANGRAM ENTERPRISE SOLUTIONS, INC.
    $.01 par common
TEMPLATE SOFTWARE, INC.
    $.01 par common
TOTAL CONTROL PRODUCTS, INC.
    No par common
TOTAL WORLD TELECOMMUNICATIONS, INC.
    $.00001 par common
TRANSCRYPT INTERNATIONAL, INC.
    $.01 par common
VALLEY NATIONAL GASES, INC.
    $.001 par common
VDI MEDIA
    No par common
VISTANA, INC.
    $.01 par common
VYREX CORPORATION
    $.001 par common
WALBRO CORPORATION
    Convertible trust preferred securities
WESLEY JESSEN VISIONCARE, INC.
    $.01 par common
WINTRUST FINANCIAL CORPORATION
    No par common
YURIE SYSTEMS, INC.
    $.01 par common
ZINDART LIMITED
    American Depositary Receipts

Deletions From the Foreign Margin List

BRAZIL

COMPANHIA SUZANO DE PAPEL CELULOSE PN
    No par non-voting, preferred
LOJAS AMERICANAS S.A.
    No par common

HONG KONG

WINSOR INDUSTRIAL CORPORATION LTD.
    HK$.50 par ordinary shares

JAPAN

AT&T GLOBAL INFORMATION SOLUTIONS JAPAN, LTD.
    50 par common
CENTRAL FINANCE CO., LTD.
    50 par common
GODO STEEL, LTD.
    50 par common
JAPAN DIGITAL LABORATORY CO., LTD.
    50 par common
KEIYO CO., LTD.
    50 par common
MITSUI CONSTRUCTION CO., LTD.
     50 par common
NICHIEI CONSTRUCTION CO., LTD.
     50 par common
NIHON NOSAN KOGYO K.K.
     50 par common
NIPPON DENSETSU KOGYO CO., LTD.
     50 par common
NISSHA PRINTING CO., LTD.
     50 par common
RAITO KOGYO CO., LTD.
     50 par common
SENSHUKAI CO., LTD.
     50 par common
SHOKUSAN JUTAKU SOGO CO., LTD.
     50 par common
SUMITOMO CONSTRUCTION CO., LTD.
     50 par common
TAIHEI DENGYO KAISHA, LTD.
     50 par common
TAKAOKA ELECTRIC MFG. CO., LTD.
     50 par common
TOA STEEL CO., LTD.
     50 par common
TOENEC CORPORATION
     50 par common
TOKUYAMA SODA CO., LTD.
     50 par common
TSUMURA & CO.
     50 par common
YAOHAN JAPAN CORPORATION
     50 par common

SOUTH AFRICA

MIDDLE WITWATERSRAND (WESTERN AREA) LTD.
    Ordinary shares, par 0.01 South African rand

SWEDEN

STADSHYPOTEK AB
    A Free Shares, par 10 Swedish krona

TAILAND

FINANCE ONE PUBLIC CO., LTD.
    Ordinary shares, par 10 Thai baht
INTERNATIONAL COSMETICS PUBLIC CO., LTD.
    Ordinary shares, par 10 Thai baht
UNIVEST LAND PUBLIC CO., LTD.
    Common shares, par 10 Thai baht

UNITED KINGDOM

INVESCO PLC
    Ordinary shares, par 25 p
LONDON ELECTRICITY PLC
    Ordinary shares, par 50 p
YORKSHIRE ELECTRICITY GROUP PLC
    Ordinary shares, par .5682 p

Additions to the Foreign Margin List

BRAZIL

CENTRAIS ELETRICAS BRASILEIRAS S.A. (ELETROBRAS)
    No par common
COMPANHIA SIDERURGIA NACIONAL
    No par common
LIGHT PARTICIPACOES, S.A. (LIGHT PAR)
    No par common
UNIAO DE BANCOS BRASILEIRAS S.A.
    No par non-voting, preferred

HONG KONG

CHINA OVERSEAS LAND & INVESTMENT, LTD.
    HK$.10 par ordinary shares
CHINA RESOURCES ENTERPRISE, LTD.
    HK$1.00 par ordinary shares
COSCO PACIFIC, LTD.
    HK$.50 par ordinary shares
GUANDONG INVESTMENT, LTD.
    HK$.50 par ordinary shares
KERRY PROPERTIES, LTD.
    HK$.10 par ordinary shares
PEARL ORIENTAL HOLDINGS, LTD.
    HK$.10 par ordinary shares
TSIM SHA TSUI PROPERTIES, LTD.
    HK$.20 par ordinary shares

ITALY

H.P.I. SPA
    Ordinary shares, par 5000 lira

JAPAN

ACOM CO., LTD.
     50 par common
DDI CORPORATION
     5000 par common
NICHIEI CO., LTD.
     50 par common
NTT DATA CORPORATION
     50,000 par common
ORIENTAL LAND CO., LTD.
     50 par common
PROMISE CO., LTD.
     50 par common
WEST JAPAN RAILWAY CO.
     50,000 par common

SOUTH AFRICA

AVMIN LIMITED
    Ordinary shares, par .01 South African rand

SWITZERLAND

CIBA SPECIALTY CHEMICALS HOLDINGS AG
    Registered shares, par 10 Swiss francs

THAILAND

ICC INTERNATIONAL PUBLIC CO., LTD.
    Ordinary shares, par 10 Thai baht

UNITED KINGDOM

AMVESCO PLC
    Ordinary shares, par 25 p

    By order of the Board of Governors of the Federal Reserve 
System, acting by its Director of the Division of Banking 
Supervision and

[[Page 22886]]

Regulation pursuant to delegated authority (12 CFR 265.7(f)(10)), 
April 23, 1997.
William W. Wiles,
Secretary of the Board.
[FR Doc. 97-10838 Filed 4-25-97; 8:45 am]
BILLING CODE 6210-01-P