[Federal Register Volume 62, Number 144 (Monday, July 28, 1997)]
[Rules and Regulations]
[Pages 40257-40262]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-19806]


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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: August 11, 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, DC 
20551. For the hearing impaired only, contact Dorothea Thompson, 
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 April 
28, 1997 (62 FR 22881), and became effective May 12, 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 April 28, 1997 (62 FR 22881), 
and became effective May 12, 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.

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

ALLERGAN LIGAN RETINOID THERAPEUTICS, INC.
    Units (expire 06-05-97)
AVERT, INC.
    Warrants (expire 04-30-97)
BELL CABLEMEDIA PLC
    American Depositary Receipts
BIOTECHNICA INTERNATIONAL, INC.
    $.01 par common
BLACK HAWK GAMING & DEVELOPMENT COMPANY
    Class B, warrants (expire 06-30-97)
BRE-X MINERALS, LIMITED
    No par common
CELEBRITY ENTERTAINMENT, INC.
    $.01 par common
CODE-ALARM, INC.
    No par common
COUNTRY STAR RESTAURANTS, INC.
    Series A, 6% par cumulative preferred
DELGRATIA MINING CORPORATION
    No par common
ERD WASTE CORPORATION
    $.001 par common
ESSEX CORPORATION
    $.10 par common
FIRST MORTGAGE CORPORATION
    No par common
FLAGSTAR COMPANIES, INC.
    $.50 par common, Series A, $.10 par cumulative convertible 
preferred
GRAPHIX ZONE, INC.
    No par common
GROOTVLEI PROPRITARY MINES
    American Depositary Receipts
INAMED CORPORATION
    $.01 par common
INTEGRATED WASTE SERVICES, INC.

[[Page 40258]]

    $.01 par common
INTERSCIENCE COMPUTER CORPORATION
    No par common
IPL SYSTEMS, INC.
    Class A, $.01 par common
KLEINERT'S, INC.
    $1.00 par common
LIFERATE SYSTEMS, INC.
    No par common
MEDICAL CONTROL, INC.
    Warrants (expire 04-30-97)
MEDNET MPC CORPORATION
    $.001 par common
MERIDIAN SPORTS INCORPORATED
    $.01 par common
MID-AM, INC.
    Series A, no par cumulative convertible preferred
MOBILE MEDIA CORPORATION
    $.001 par common
NETWORK CONNECTION, INC., THE
    Warrants (expire 05-11-98)
NOBLE ROMAN'S INC.
    No par common
NORD PACIFIC LIMITED
    American Depositary Receipts
OSHKOSH B'GOSH, INC.
    Class B, $.01 par common
POSITRON CORPORATION
    $.01 par common, Warrants (expire 12-03-98)
PUDGIE'S CHICKEN, INC.
    $.01 par common
REDDI BRAKE SUPPLY CORPORATION
    $.0001 par common
RISCORP, INC.
    Class A, $.01 par common
ROOSEVELT FINANCIAL GROUP, INC.
    $.01 par common $.01 par convertible preferred
SISKON GOLD CORPORATION
    Class A, $.001 par common
STRATOSPHERE CORPORATION
    $.01 par common
STREAMLOGIC CORPORATION
    $.01 par common
SUPERIOR ENERGY SERVICES, INC.
    Warrants (expire 07-06-97)
SURE SHOT INTERNATIONAL, INC.
    $.01 par common
TALBERT MEDICAL MANAGEMENT HOLDINGS
    Rights (expire 05-20-97)
TEE-COM ELECTRONICS, INC.
    No par common
TELECHIPS CORPORATION
    $.01 par common
TRIPLE P, NV
    NLG .20 par common
VECTRA BANKING CORPORATION
    $.10 Series A, cumulative preferred
WESTERN FIDELITY FUNDING, INC.
    $.001 par common
XAVIER CORPORATION
    $.001 par common

Stocks Removed For Listing On a National Securities Exchange or 
Being Involved in an Acquisition

AES CHINA GENERATING CO., LTD.
    Class A, $.01 par common
AIRNET SYSTEMS, INC.
    $.01 par common
AMERICAN BANCORP OF NEVADA
    $.05 par common
AMERICAN BANKERS INSURANCE GROUP, INC.
    $1.00 par common
AMISYS MANAGED CARE SYSTEMS, INC.
    $.001 par common
ASPEN BANCSHARES, INC., (CO)
    $.01 par common
BANCORPSOUTH, INC. (MS)
    $2.50 par common
BELDEN & BLAKE CORPORATION
    No par common
BENTON OIL & GAS COMPANY
    $.01 par common
BFS BANKORP, INC. (NY)
    $.01 par common
BHC FINANCIAL, INC.
    $.001 par common
BOOMTOWN, INC.
    $.01 par common
BUCKLE, INC., THE
    $.05 par common
BUSINESS & PROFESSIONAL BANK (CA)
    No par common
C.R. ANTHONY COMPANY
    $.01 par common
CALGENE, INC.
    No par common
CALIFORNIA FINANCIAL HOLDING CO.
    $.01 par common
CARVER BANCORP, INC. (NY)
    $.01 par common
CASCADE COMMUNICATIONS CORP.
    $.001 par common
CEL-SCI CORPORATION
    $.001 par common
CENTRAL AND SOUTHERN HOLDING CO.
    $1.00 par common
CHICAGO DOCK AND CANAL TRUST
    No par shares of beneficial interest
CIBER, INC.
    $.01 par common
COACH USA, INC.
    $.01 par common
COMPRESSION LABS, INC.
    $.001 par common
COOPER & CHYAN TECHNOLOGY, INC.
    $.01 par common
COUNTY BANK OF CHESTERFIELD (VA)
    $5.00 par common
CROSSCOMM CORPORATION
    $.01 par common
CU BANCORP (CA)
    No par common
DAUPHIN DEPOSIT CORPORATION
    $5.00 par common
DEKALB GENETICS CORPORATION
    Class B, no par common
DENBURY RESOURCES, INC.
    No par common
EASTERN BANCORP INC. (VT)
    $.01 par common
ENTERPRISE SYSTEMS, INC.
    $.01 par common
EQUITY CORPORATION INTERNATIONAL
    $.01 par common
ERO, INC.
    $.01 par common
EXTENDED STAY AMERICA, INC.
    $.01 par common
FINANCIAL TRUST CORPORATION
    $5.00 par common
FIRST FINANCIAL CORPORATION OF WESTERN MARYLAND
    $1.00 par common
FIRST-KNOX BANC CORP. (Ohio)
    $3.125 par common
FLORIDA PANTHERS HOLDINGS, INC.
    Class A, $.01 par common
FORCENERGY INC.
    $.01 par common
FRACTAL DESIGN CORPORATION
    $.001 par common
GATEWAY 2000 INC.
    $.01 par common
GCR HOLDINGS, LIMITED
    $.10 par ordinary shares
GOULDS PUMPS, INCORPORATED
    $1.00 par common
GRANITE CONSTRUCTION INCORPORATED
    $.01 par common
GRAPHIC INDUSTRIES, INC.
    $.10 par common
GULFMARK INTERNATIONAL, INC.
    $1.00 par common
HOME BENEFICIAL CORPORATION
    Class B, $.3125 par common
INCSTAR CORPORATION
    $.01 par common
INPHYNET MEDICAL MANAGEMENT, INC.
    $.01 par common
INTEGRATED LIVING COMMUNITIES, INC.
    $.01 par common
J.W. CHARLES FINANCIAL SERVICES, INC.
    $.001 par common
KURZWEIL APPLIED INTELLIGENCE, INC.
    $.01 par common
LESLIE'S POOLMART
    No par common
LIBERTY BANCORP, INC. (OK)
    $.01 par common
LIVE ENTERTAINMENT, INC.
    $.01 par common, Series B, no par cumulative convertible 
preferred
LONE STAR TECHNOLOGIES, INC.
    $1.00 par common
MARKEL CORPORATION
    No par common
MAXIM GROUP, INC., THE
    $.001 par common
MDL INFORMATION SYSTEMS, INC.
    $.01 par common
MICROCOM, INC.
    $.01 par common
MIDCOMM BANK (CT)
    $1.00 par common
NYNEX CABLECOMMS GROUP PLC
    American Depositary Receipts
ONE VALLEY BANCORP, INC. (WV)
    $10.00 par common
OPENVISION TECHNOLOGIES, INC.
    $.001 par common
OSB FINANCIAL CORPORATION
    $.01 par common
PEAK TECHNOLOGIES GROUP, INC., THE
    $.01 par common
PETROLEUM GEO-SERVICES A/S
    American Depositary Receipts
PETROITE CORPORATION
    No par common
PHAMIS INC.
    $.0025 par common
PREMIER BANKSHARES CORPORATION
    $2.00 par common
PREMIERE RADIO NETWORKS, INC.
    No par common, Class A, $.01 par common
PRODUCTION OPERATORS CORP.
    $1.00 par common
PROFFITT'S, INC.
    $.10 par common
REFLECTONE, INC.

[[Page 40259]]

    $.10 par common
RENTAL SERVICE CORPORATION
    $.01 par common
REPUBLIC INDUSTRIES, INC.
    $.01 par common
ROBERTS PHARMACEUTICAL CORP.
    $.01 par common
ROYCE LABORATORIES, INC.
    $.005 par common
SERVICE EXPERTS, INC.
    $.01 par common
SJS BANCORP, INC. (MO)
    $.01 par common
SOMATIX THERAPY CORPORATION
    $.01 par common
STANT CORPORATION
    $.01 par common
STARSIGHT TELECAST, INC.
    No par common
STILLWATER MINING COMPANY
    $.01 par common
SUNGARD DATA SYSTEMS, INC.
    $.01 par common
TEAM RENTAL GROUP, INC.
    Class A, $.01 par common
TENCOR INSTRUMENTS
    No par common
THERMAL INDUSTRIES, INC.
    $.01 par common
TRANSWORLD BANCORP (CA)
    No par common
UNIFORCE SERVICES, INC.
    $.01 par common
UNITED CAROLINA BANCSHARES CORP.
    $4.00 par common
US ROBOTICS CORPORATION
    $.01 par common
USMX INC.
    No par common
VENTRITEX, INC.
    No par common
VIDEOTRON HOLDINGS PLC
    American Depositary Receipts
VOLT INFORMATION SCIENCES, INC.
    $.10 par common
WEST COAST BANCORP (OR)
    No par common
WINTHROP RESOURCES CORPORATION
    $.01 par common
WIRELESS CABLE OF ATLANTA, INC.
    $1.00 par common

Additions to the List of Marginable OTC Stocks

3DFX INTERACTIVE, INC.
    No par common
800-JR CIGAR, INC.
    $.01 par common
8X8, INC.
    $.001 par common
ACORN PRODUCTS, INC.
    $.001 par common
ADVANCED COMMUNICATION SYSTEMS, INC.
    $.01 par common
ALARIS MEDICAL, INC.
    $.01 par common
ALFACELL CORPORATION
    $.001 par common
ALLERGAN LIGAND RETINOID THERAPEUTICS, INC.
    $.001 par common
ALLSTAR SYSTEMS, INC.
    $.01 par common
AMARILLO BIOSCIENCES, INC.
    $.01 par common
AMAZON.COM, INC.
    $.01 par common
ANTIVIRALS, INC.
    Warrants (expire 06-04-2002)
ARGUSS HOLDINGS, INC.
    $.01 par common
ARIS CORPORATION
    No par common
ASCENT PEDIATRICS, INC.
    $.0004 par common
ASI SOLUTIONS INCORPORATED
    $.01 par common
AT HOME CORPORATION
    Series A, common stock
AURORA BIOSCIENCES CORPORATION
    $.001 par common
AXIOM, INC.
    $.01 par common
BANK UNITED FINANCIAL
    Series A, capital trust preferred securities
BANKATLANTIC BANCORP, INC.
    Capital trust 9% cumulative trust preferred
BENTHOS, INC.
    $.0667 par common
BIONX IMPLANTS, INC.
    $.001 par common
BOARDWALK CASINO, INC.
    $.001 par common
BOSTON PRIVATE BANCORP, INC.
    $1.00 par common
BRANTLEY CAPITAL CORPORATION
    $.01 par common
BRIGHAM EXPLORATION COMPANY
    $.01 par common
BROAD NATIONAL BANCORPORATION (New Jersey)
    9.5% preferred securities
BROOKDALE LIVING COMMUNICATIONS, INC.
    $.01 par common
CAL DIVE INTERNATIONAL, INC.
    No par common
CARDIMA, INC.
    $.001 par common
CAREY INTERNATIONAL, INC.
    $.01 par common
CCF HOLDING COMPANY
    $.10 par common
CENTENNIAL HEALTHCARE CORPORATION
    $.01 par common
CHECKERS DRIVE-IN RESTAURANTS, INC.
    Warrants (expire 12-22-2000)
CHROMAVISION MEDICAL SYSTEMS, INC.
    $.01 par common Rights (expire 08-05-97)
CODORUS VALLEY BANCORP, INC. (Pennsylvania)
    $2.50 par common
COINSTAR, INC.
    $.001 par common
COMMUNITY BANCSHARES, INCORPORATED
    $3.00 par common
COMMUNITY FINANCIAL CORPORATION (Illinois)
    $.01 par common
COMMUNITY FIRST BANKING COMPANY (Georgia)
    $.01 par common
CONCEPTS DIRECT, INC.
    $.10 par common
COSMETIC CENTER, INC., THE
    Class C, $.01 par common
CRAZY WOMAN CREEK BANCORP, INCORPORATED (New York)
    $.10 par common
DECRANE AIRCRAFT HOLDINGS, INC.
    $.01 par common
DOCDATA, N.V.
    Ordinary shares (NLG .2)
DSI TOYS, INC.
    $.01 par common
DTM CORPORATION
    $.0002 par common
DUNN COMPUTER CORPORATION
    $.001 par common
DXP ENTERPRISES, INC.
    $.01 par common
ECO SOIL SYSTEMS, INC.
    $.005 par common
ENDOGEN, INC.
    $.01 par common
ENERGY SEARCH, INCORPORATED
    No par common
EXPLORATION COMPANY, THE
    $.01 par common
FAMOUS DAVE'S OF AMERICA
    $.01 par common
FIDELITY BANCORP, INC.
    FB capital trust preferred securities
FIRST SIERRA FINANCIAL, INC.
    $.01 par common
FIRSTBANK CORPORATION (Idaho)
    $.01 par common
FIRSTSERVICE CORPORATION
    No par subordinate voting shares
FLAGSTAR BANCORP, INC.
    $.01 par common
GENESYS TELECOMMUNICATIONS LABORATORIES, INC.
    No par common
GLASTONBURY BANK & TRUST COMPANY (Connecticut)
    $2.50 par common
GOLDEN TRIANGLE INDUSTRIES, INC.
    $.001 par common
GREAT PLAINS SOFTWARE, INC.
    $.01 par common
GREATER COMMUNITY BANCORP (New Jersey)
    $.01 par common
    10% preferred securities
GSB FINANCIAL CORPORATION
    $.01 par common
GULFMARK OFFSHORE, INC.
    $.01 par common
H.T.E., INC.
    $.01 par common
HAGLER BAILLY, INC.
    $.01 par common
HCB BANCSHARES, INC.
    $.01 par common
HEALTHCARE RECOVERIES, INC.
    $.001 par common
HESKA CORPORATION
    $.001 par common
HOME CITY FINANCIAL CORPORATION
    No par common
HUMPHREY HOSPITALITY TRUST, INC.
    $.01 par common
INDEPENDENT BANK CORPORATION (Massachusetts)
    9.28% cumulative trust preferred securities
INTEGRATED SURGICAL SYSTEMS, INC.
    $.01 par common
INTERFERON SCIENCES, INC.
    $.01 par common
INTERNATIONAL COMPUTEX, INC.
    $.001 par common
INTERNATIONAL PRECIOUS METALS CORPORATION
    No par common
INTEST CORPORATION

[[Page 40260]]

    $.01 par common
IRIDIUM WORLD COMMUNICATIONS, LTD.
    Class A, $.01 par common
ISL COMMUNICATIONS INCORPORATED
    $.01 par common
JETFAX, INC.
    $.01 par common
KAYNAR TECHNOLOGIES, INC.
    $.01 par common
KEY FLORIDA BANCORP, INC.
    $.01 par common
LAMALIE ASSOCIATES, INC.
    $.01 par common
LASER POWER CORPORATION
    $.001 par common
LEXINGTON HEALTHCARE GROUP, INC.
    $.01 par common
    Warrants (expire 05-19-2003)
LHS GROUP, INC.
    $.01 par common
LIFE FINANCIAL CORPORATION
    $.01 par common
LIGAND PHARMACEUTICALS, INC.
    Warrants (expire 06-03-2000)
LONG BEACH FINANCIAL CORPORATION
    $.001 par common
LUKENS MEDICAL CORPORATION
    Class A, $.01 par common
MARATHON FINANCIAL CORPORATION
    $1.00 par common
MAS TECHNOLOGY LIMITED
    American Depositary Receipts
MELITA INTERNATIONAL CORPORATION
    No par common
MER TELEMANAGEMENT SOLUTIONS, LTD.
    No par common
MFC BANCORP LTD.
    No par common
MIDDLE BAY OIL COMPANY, INC.
    $.02 par common
MILESTONE SCIENTIFIC, INC.
    $.001 par common
MILLBROOK PRESS, INC., THE
    $.01 par common
MONOCACY BANCSHARES, INC. (Maryland)
    $5.00 par common
MVSI, INC.
    Warrants (expire 08-15-2000)
NATIONAL HEALTH ENHANCEMENT SYSTEMS, INC.
    $.001 par common
NATIONAL PENN BANCSHARES, INC.
    No par preferred stock
NEOMEDIA TECHNOLOGIES, INC.
    $.01 par common
NETSPEAK CORPORATION
    $.01 par common
NETWORK EVENT THEATER, INC.
    $.01 par common
NEW CENTRUY FINANCIAL CORPORATION
    $.01 par common
NEW ERA NETWORKS, INC.
    $.0001 par common
NORD PACIFIC LIMITED
    $.05 par common
OBJECTSOFT CORPORATION
    $.001 par common
OCWEN ASSET INVESTMENT GROUP
    $.01 par common
OLICOM A/S
    Warrants (expire 06-12-2000)
ONSALE, INC.
    $.001 par common
OPTISYSTEMS SOLUTIONS, LTD.
    Ordinary shares (NIS .05)
    Warrants (expire 06-12-2002)
ORBIT/FR, INC.
    $.01 par common
PDK LABS, INC.
    $.01 par common
PEAK INTERNATIONAL LIMITED
    $.01 par common
PEAPOD, INC.
    $.01 par common
PEOPLES HOME SAVINGS BANK (Pennsylvania)
    No par common
PEOPLES-SIDNEY FINANCIAL CORPORATION
    $.01 par common
PERITUS SOFTWARE SERVICES, INC.
    $.01 par common
PREMIER FINANCIAL BANCORP, INC. (Kentucky)
    No par preferred securities
PSW TECHNOLOGIES, INC.
    $.01 par common
QUESTRON TECHNOLOGY, INC.
    $.001 par common
QWEST COMMUNICATIONS INTERNATIONAL, INC.
    $.01 par common
RACING CHAMPIONS CORPORATION
    $.01 par common
RAMBUS, INC.
    $.001 par common
RF MICRO DEVICES, INC.
    No par common
RIVER VALLEY BANCORP (Indiana)
    No par common
ROBOCOM SYSTEMS, INC.
    $.01 par common
RWD TECHNOLOGIES, INC.
    $.10 par common
RYANAIR HOLDINGS PLC
    American Depositary Receipts
SAXTON INCORPORATED
    $.001 par common
SCHICK TECHNOLOGIES, INC.
    $.01 par common
SCHUFF STEEL COMPANY
    $.001 par common
SEEC, INC.
    $.01 par common
SILICOM LIMITED
    Ordinary shares
SILVERADO GOLD MINES LTD.
    No par common
SIMIONE CENTRAL HOLDINGS, INC.
    $.001 par common
SIMMONS FIRST NATIONAL CORPORATION (Arkansas)
    9.12% cumulative trust preferred securities
SOUTHERN MINERAL CORPORATION
    $.01 par common
SOUTHWEST BANCORP, INC. (Oklahoma)
    9.3% shares of beneficial interest capital trust
SPECTRX, INC.
    $.001 par common
STAFF LEASING, INC.
    $.01 par common
STAR TELECOMMUNICATIONS, INC.
    $.01 par common
STEARNS & LEHMAN, INC.
    No par common
STERLING BANCSHARES, INC.
    Cumulative trust preferred
STERLING FINANCIAL CORPORATION 9.5% preferred securities
SUMMIT HOLDING SOUTHWEST, INC.
    $.01 par common
SUNRISE EDUCATIONAL SERVICES, INC.
    Series C, $1.00 par preferred
SYSCOMM INTERNATIONAL CORPORATION
    $.01 par common
TALBERT MEDICAL MANAGEMENT HOLDINGS CORPORATION
    $.01 par common
TAYLOR DEVICES, INC.
    $.025 par common
TELEGEN CORPORATION
    No par common
TELEGROUP, INC.
    No par common
TIB FINANCIAL CORPORATION
    $.10 par common
TLC THE LASER CENTER, INC.
    No par common
TMCI ELECTRONICS, INC.
    $.001 par common
TRANSCEND THERAPEUTICS, INC.
    $.01 par common
TRIATHLON BROADCASTING COMPANY
    Class A, $.01 par common
    Depositary shares
TRIDENT ROWAN GROUP, INC.
    Warrants (expire 06-05-2002)
TRIO-TECH INTERNATIONAL
    No par common
TSI INTERNATIONAL SOFTWARE, LTD.
    $.01 par common
VECTRA BANKING CORPORATION
    VBC capital I cumulative capital securities
VIRAGEN EUROPE LTD.
    $.01 par common
VIRGINIA GAS COMPANY
    $.001 par common
    Warrants (expire 10-11-2001)
VISTA MEDICAL TECHNOLOGIES, INC.
    $.01 par common
WASHINGTON MUTUAL, INC.
    Depositary shares
WASTE INDUSTRIES, INC.
    No par common
WAYNE BANCORP, INC. (Ohio)
    No par common
WESTERN BANCORP (California)
    No par common
WHEELS SPORTS GROUP, INC.
    Warrants (expire 04-16-2002)
WILSONS THE LEATHER EXPERTS
    $.01 par common
    Warrants (expire 05-27-2000)
WORLD OF SCIENCE, INC.
    $.01 par common

Deletions From the Foreign Margin List

Australia

ADVANCE BANK AUSTRALIA LIMITED
    Ordinary shares, par A$1.00
CRA LIMITED
    Ordinary shares, par A$2.00

Austria

UNIVERSALE-BAU AG
    Ordinary shares, par 100 Austrian schillings

[[Page 40261]]

Belgium

ARBED-ACIER REUNIE DE BURBACH-EICH-DUDEL
    No par participating certificates
UCB SA
    No par capital
UCB SA
    No par ordinary capital

Brazil

LIGHT PARTICIPACOES, S.A. (LIGHT PAR)
    No par common

Canada

ABITIBI-PRICE INC.
    No par common
AVENDOR INC.
    No par common
BRE-X MINERALS LTD.
    No par common
HEES INTERNATIONAL BANCORP INC.
    No par common
STONE-CONSOLIDATED CORP.
    No par common
SUNCOR INC.
    No par common

Denmark

OTICON HOLDING A/S
    Ordinary shares, par 20 Danish krone

France

AXA SA
    Ordinary shares, par 60 French francs
COMPAGNIE GENERALE DE GEOPHYSIQUE SA
    Ordinary shares, par 10 French francs
CREDIT FONCIER DE FRANCE SA
    Ordinary shares, par 100 French francs
DMC-DOLLFUS-MIEG & CIE SA
    Ordinary shares, par 75 French francs
FINEXTEL SA
    Ordinary shares, par 100 French francs
GROUPE SEB SA
    Ordinary shares, par 20 French francs
LEGRIS INDUSTRIES SA
    Ordinary shares, par 20 French francs
LYONNAISE DES EAUX SA
    Ordinary shares, par 60 French francs
NORD EST SA
    Ordinary shares, par 50 French francs
ROUSSEL UCLAF SA
    Ordinary shares, par 20 French francs
SAINT LOUIS SA
    Ordinary shares, par 100 French francs
SOCIETE DES IMMEUBLES DE FRANCE SA
    Ordinary shares, par 50 French francs
SOCIETE FINANCIERE INTERBAIL SA
    Ordinary shares, par 100 French francs
TAITTINGER SA
    Ordinary shares, par 150 French francs

Germany

RHEINELEKTRA AG
    Bearer shares, par DM 50

Italy

BANCA COMMERCIALE ITALIANA SPA
    Non-convertible savings shares, par 1000 lira
CIR-COMPAGNIE INDUSTRIALI RIUNITE SPA
    Non-convertible savings shares, par 1000 lira
CREDITO ITALIANO SPA
    Non-convertible savings shares, par 500 lira
GEMINA GEN MOBIL INTER AZIONARIE SPA
    Ordinary shares, par 500 lira
SASIB SPA
    Ordinary shares, par 1000 lira
SOCIETA ASSICURATRICE INDUSTRIALE SPA
    Non-convertible savings shares, par 1000 lira
TORO ASSICURAZIONI CIA ANOMIA D'ASSICU.
    Non-convertible savings shares, par 1000 lira
UNICEM SPA
    Non-convertible savings shares, par 1000 lira

Japan

NIPPONDENSO CO., LTD.
     50 par common

Norway

AKER ASA
    A Free Shares, par 20 Norwegian krone
AKER ASA
    B Free Shares, par 20 Norwegian krone
MYCOMED ASA
    B Ordinary Common, par 4 Norwegian krone
UNI STOREBRAND A/S
    A Ordinary Common, par 5 Norwegian krone
UNI STOREBRAND ASA
    Convertible Preferred A Shares, par 5 Norwegian krone

Singapore

AURIC PACIFIC GROUP
    Ordinary shares, par S$0.50
FAR EAST LEVINGSTONE SHIPBUILDING LTD.
    Ordinary shares, par S$0.50
JARDINE MALLIESON HOLDINGS, LTD.
    Ordinary Shares, par S$.25
STRAITS STEAMSHIP LAND LTD.
    Ordinary shares, par S$0.50

Spain

CUBIERTAS Y MZOV S.A., COMPANIA GENERAL
    Bearer shares, par 1000 pesetas
EL AGUILA S.A.
    Bearer shares, par 500 pesetas
SARRIO S.A.
    Bearer shares, par 500 pesetas

Switzerland

CS HOLDING
    Registered shares, par 20 Swiss francs
FORBO HOLDING AG
    Registered shares, par 50 Swiss francs
GEORG FISCHER AG
    Bearer shares, par 500 Swiss francs
MOTOR-COLUMBUS AG
    Bearer shares, par 500 Swiss francs
SULZER AG
    Participation Certificates, par 100 Swiss francs
SWISSAIR SCHWEIZERISCHE LUFTVERKEHR AG
    Registered shares, par 350 Swiss francs

Thailand

UNION ASIA FINANCE PUBLIC CO. LTD.
    Common shares, par 10 Thai baht

United Kingdom

AMVESCO PLC
    Ordinary shares, par 25 p
BURMAH OIL PLC, THE
    Ordinary shares, par value 100 p
EAST MIDLANDS ELECTRICITY PLC
    Ordinary shares, par 50 p
ENGLISH CHINA CLAYS PLC
    Ordinary shares, par 25 p
LUCAS INDUSTRIES PLC
    Ordinary shares, par 25 p
RTZ CORPORATION PLC
    Ordinary shares, par 10 p

Additions to the Foreign Margin List

Australia

RIO TINTO LIMITED
    Ordinary shares, par A$2.00

Austria

FLUGHAFEN VIEN
    Ordinary shares, par 100 Austrian schillings
WOLFORD AG
    Ordinary shares, par 100 Austrian schillings

Belgium

BARCO NV
    Ordinary shares, no par
COLRUYT S.A.
    Ordinary shares, no par
CREDIT COMMUNAL HOLDING/DEPIA
    Ordinary shares, no par
NATIONAL PORTEFEUILLE S.A.
    Ordinary shares, no par
UNION MINIERE S.A.
    Ordinary shares, no par

Brazil

LIGHT SERVICIOS DE ELECTRICIDADE S.A.
    No par common

Canada

ABITIBI-CONSOLIDATED, INC.
    No par common
AGRIUM, INC.
    No par common
ALLIANCE FOREST PRODUCTS, INC.
    No par common
AVENOR, INC.
    No par common
B.C. GAS, INC.
    No par common
CRESTAR ENERGY, INC.
    No par common
EURO-NEVADA MINING CORPORATION
    No par common
FINNING LIMITED
    No par common
HUDSON'S BAY COMPANY
    No par common
MDS, INC.
    No par Class B common
NEWCOURT CREDIT GROUP, INC.
    No par common
PAN CANADIAN PETROLEUM LIMITED
    No par common
PHILIP SERVICES CORPORATION
    No par common
QUEBECOR, INC.
    No par Class B common
ROYAL GROUP TECHNOLOGIES LIMITED
    No par common
SUNCOR ENERGY, INC.
    No par common
TELEGLOBE, INC.

[[Page 40262]]

    No par common
TRIMARK FINANCIAL CORPORATION
    No par common

Denmark

WILLIAM DEMANT HOLDINGS
    Ordinary shares, par 5 Danish krone

France

AXA-UAP SA
    Ordinary shares, par 60 French francs
CETELEM SA
    Ordinary shares, par 45 French francs
LEGRAND SA
    Preferred shares, par 10 French francs
REXEL SA
    Ordinary shares, par 20 French francs
SEB SA
    Ordinary shares, par 20 French francs
SODEXHO ALLIANCE SA
    Ordinary shares, par 20 French francs
SUEZ-LYONNAISE DES EAUX SA
    Ordinary shares, par 60 French francs

Germany

LAHMEYER AG
    Bearer shares, par DM 50

Ireland

RYANAIR HOLDINGS PLC
    Ordinary shares, par .04 Irish pound

Italy

BANCA FIDEURAM SPA
    Ordinary shares, par 500 lira
BENETTON GROUP SPA
    Ordinary shares, par 500 lira
EDISON SPA
    Ordinary shares, par 1000 lira
PARMALAT FINANZIARIA
    Ordinary shares par 1000 lira
ROLO BANCA 1473 SPA
    Ordinary shares, par 1000 lira

Japan

DENSO CORPORATION
     50 par common

Norway

AKER RGI ASA
    A Free shares par 20 Norwegian krone
AKER RGI ASA
    B Free shares, par 20 Norwegian krone
NYCOMED ASA
    B ordinary common, par 4 Norwegian krone
STOREBRAND AS
    A ordinary common, par 5 Norwegian krone
STOREBRAND AS
    Convertible preferred A shares, par 5 Norwegian krone

Singapore

JARDINE MATTHESON HOLDINGS, LTD.
    Ordinary shares, par $.25
KEPPEL FAR EAST LEVINGSTONE SHIPBUILDING, LTD.
    Ordinary shares, par S$.50
KEPPEL LAND LTD.
    Ordinary shares, par S$.50

Spain

GRUPO ACCIONA
    Bearer shares, par 1000 pesetas

Switzerland

CREDIT SUISSE GROUP
    Registered shares, par 20 Swiss francs
SAIR GROUP AG
    Registered shares, par 350 Swiss francs
SCHWEIZERISCHE BANKGESELLSCHAFT (UNION BANK OF)
    Registered shares, par 20 Swiss francs
SULZER AG par 100 Swiss francs

United Kingdom

AMVESCAP PLC
    Ordinary shares, par 25 p
ECC GROUP PLC
    Ordinary shares, par 25 p
EMI GROUP PLC
    Ordinary shares, par 25 p
GALLAHER GROUP PLC
    Ordinary shares, par 10 p
HALIFAX PLC
    Ordinary shares, par 20 p
IMPERIAL TOBACCO GROUP PLC
    Ordinary shares, par 10 p
LUCASVARITY PLC
    Ordinary shares, par 25 p
RIO TINTO PLC
    Ordinary shares, par 10 p

    By order of the Board of Governors of the Federal Reserve 
System, acting by its Director of the Division of Banking 
Supervision and Regulation pursuant to delegated authority (12 CFR 
265.7(f)(10)), July 23, 1997.
William W. Wiles,
Secretary of the Board.
[FR Doc. 97-19806 Filed 7-25-97; 8:45 am]
BILLING CODE 6210-01-P