[Federal Register Volume 63, Number 17 (Tuesday, January 27, 1998)] [Rules and Regulations] [Pages 3804-3809] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 98-1863] [[Page 3804]] ======================================================================= ----------------------------------------------------------------------- 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. ----------------------------------------------------------------------- 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 DATES: Regulations G and U (12 CFR parts 207 and 221): February 9, 1998-March 31, 1998; Regulations T and X (12 CFR parts 220 and 224): February 9, 1998-January 1, 1999. 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 October 27, 1997 (62 FR 55495), and became effective November 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. In order to determine the loan value of stock and other collateral under Regulations G and U, lenders must be able to determine whether a particular stock is a margin stock,1 a term which is currently defined to include OTC margin stock. The definition of OTC margin stock in Regulations G and U states that ``[a]n OTC stock is not considered to be an OTC margin stock unless it appears on the Board's periodically published list of OTC margin stocks.'' The OTC List provides the names of these stocks. --------------------------------------------------------------------------- \1\ The equivalent term in Regulation T is margin security. Regulation X incorporates Regulations G, T, and U in section 224.3 and therefore also incorporates the definitions in Regulations G, T, and U. --------------------------------------------------------------------------- Pursuant to amendments recently adopted by the Board (see 63 FR 2805, January 16, 1998) lenders subject to Regulation G will become subject to Regulation U on April 1, 1998 and Regulation G will be removed from the Code of Federal Regulations. Also on April 1, 1998, the definition of margin stock in the revised Regulation U will no longer include OTC margin stock and the definition of OTC margin stock will be removed from the revised Regulation U. With the extension of Regulation U on April 1, 1998 to cover lenders currently subject to Regulation G, and the elimination of the concept and accompanying definition of OTC margin stock in the revised Regulation U, lenders subject to Regulation U will no longer be bound by the OTC List published today. Instead, as of April 1, 1998, lenders subject to the revised Regulation U will be bound by the revised definition of margin stock, which continues to include ``[a]ny OTC security designated as qualified for trading in the National Market System under a designation plan approved by the Securities and Exchange Commission (NMS security).'' In other words, on April 1, 1998, all lenders subject to the revised Regulation U will no longer use the OTC List to determine whether an OTC stock is subject to the 50 percent loan value limitation when used as collateral for a purpose loan. To determine whether an OTC stock is subject to this limitation, a Regulation U lender will need to determine whether the stock trades in the National Market tier of the Nasdaq Stock Market. The names of these stocks are available at the SEC and at the National Association of Securities Dealers, Inc. and can also be determined by consulting the internet at http://www.nasdaq.com. Lenders subject to Regulation T and borrowers subject to Regulation X who are required under Sec. 224.3(a) to conform credit they obtain to Regulation T will continue to use the OTC List until publication of the next OTC List, anticipated for May 1998. The definition of OTC margin stock will be retained in Regulation T until January 1, 1999. The Board will cease publication of the OTC List at that time. Also listed below are the deletions from and additions to the Foreign List, which was last published on October 27, 1997 (62 FR 55495), and became effective November 10, 1997. The Foreign List is used solely by lenders subject to Regulation T. 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, [[Page 3805]] 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 LIGAND RETINOID THERAPEUTICS, INC. $.001 par common ALLIANCE IMAGING, INC. $.01 par common AMERICA FIRST FINANCIAL FUND 1987 Beneficial unit certificates AMERICAN TELECASTING, INC. $.01 par common AMSCAN HOLDINGS, INC. $.10 par common BATTERY TECHNOLOGIES, INC. No par common CAI WIRELESS SYSTEMS, INC. No par common CATALYTICA, INC. Warrants (expire 10-31-1997) CENTURA SOFTWARE CORPORATION $.01 par common CHEMTRAK INCORPORATED $.001 par common CINERGI PICTURES ENTERTAINMENT INC. $.01 par common CYPROS PHARMACEUTICAL CORPORATION Class B, warrants (expire 11-03-1997) EGEORGE FINANCIAL CORPORATION $.10 par common ECOGEN INC. Warrants (expire 01-31-1998) ELEK-TEK, INC. $.01 par common FAULDING INC. $.01 par common FFBS BANCORP, INC. (Mississippi) $.01 par common FIRST BANKS, INC. (Missouri) Class C, 9% increasing rate GARNET RESOURCES CORPORATION $.01 par common GATEWAY DATA SCIENCES CORPORATION $.01 par common GEOGRAPHICS, INC. No par common. Warrants (expire 06-01-1999) GLASGAL COMMUNICATIONS, INC. Warrants (expire 09-21-1999) GRAND UNION COMPANY, THE $1.00 par common HOUSECALL MEDICAL RESOURCES, INC. $.01 par common HYBRIDON, INC. $.001 par common IITC HOLDINGS, LTD. Class A, no par common INTERNATIONAL VERIFACT, INC. Redeemable Warrants (expire 01-05-1998) INTERSTATE NATIONAL DEALER SERVICES, INC. Warrants (expire 07-22-1999) KINETIC CONCEPTS, INC. $.001 par common KS BANCORP, INC. (North Carolina) No par common LTX CORPORATION 13\1/2\% convertible debentures MACHEEZMO MOUSE RESTAURANTS, INC. No par common MAXCOR FINANCIAL GROUP, INC. Series A, warrants (expire 11-30-2001) Series B, warrants (expire 11-30-2001) McMORAN OIL & GAS COMPANY Rights (expire 11-13-1997) MERIDIAN POINT REALTY TRUST 83 No par shares of beneficial MICRO-INTEGRATION CORPORATION $.01 par common MIDCOM COMMUNICATIONS, INC. $.0001 par common MVSI, INC. Warrants (expire 08-15-2000) NAL FINANCIAL GROUP, INC. $.15 par common NEUROBIOLOGICAL TECHNOLOGIES, INC. $.001 par common NIAGARA CORPORATION Warrants (expire 08-13-2000) NUKO INFORMATION SYSTEMS, INC. $.001 par common ON-GARD SYSTEMS, INC. $.001 par common PENNICHUCK CORPORATION $1.00 par common PREMIER LASER SYSTEMS, INC. Class A, warrants (expire 11-30-1999) Q-ENTERTAINMENT, INC. No par common REDWOOD TRUST, INC. Warrants (expire 12-31-1997) REGENT BANCSHARES CORP. (Pennsylvania) Series A, $.10 par convertible TRANSWORLD HEALTHCARE, INC. Warrants (expire 12-07-1997) U.S. BANCORP (Minnesota) Series A, preferred stock VENTURE SEISMIC, LTD. Warrants (expire 11-06-2000) VIDEOLAN TECHNOLOGIES, INC. Warrants (expire 08-10-2000) VIROGROUP, INC. $.01 par common VISION-SCIENCES, INC. $.01 par common WASHINGTON MUTUAL, INC. Series C, $1.00 par non-cumulative Depositary shares WELCOME HOME, INC. $.01 par common WELLCARE MANAGEMENT GROUP, INC., THE $.01 par common WESTERN PACIFIC AIRLINES, INC. $.001 par common Stocks Removed for Listing on a National Securities Exchange or Being Involved in an Acquisition 1ST UNITED BANCORP (Florida) $.01 par common ACC CONSUMER FINANCE CORPORATION $.001 par common ACCESS BEYOND, INC. $.01 par common ADCO TECHNOLOGIES, INC. $.01 par common AIRWAYS CORPORATION $.01 par common ALL AMERICAN COMMUNICATIONS, INC. $.0001 par common Class B, non-voting, $.0001 par common ALLIED CAPITAL ADVISERS, INC. $.001 par common ALLIED CAPITAL COMMERCIAL CORPORATION $.0001 par common ALLIED CAPITAL CORPORATION $1.00 par common ALLIED CAPITAL CORPORATION II $1.00 par common ALLTRISTA CORPORATION No par common ALPINE LACE BRANDS, INC. $.01 par common AMERICAN NATIONAL BANCORP, INC. $1.00 par common AMERICAN RECREATION COMPANY HOLDINGS $.01 par common ANDYNE COMPUTING LTD. No par common ARBOR HEALTH CARE COMPANY $.03 par common ARV ASSISTED LIVING, INC. No par common ATCHISON CASTING CORPORATION $.01 par common ATLAS AIR, INC. $.01 par common BANK CORPORATION OF GEORGIA $1.00 par common BDM INTERNATIONAL, INC. $.01 par common BELMONT HOMES, INC. $.10 par common BOWLIN OUTDOOR ADVERTISING & TRAVEL $.001 par common BOX WORLDWIDE, INC., THE $.001 par common BRANFORD SAVINGS BANK (Connecticut) No par common CAIRN ENERGY USA, INC. $.01 par common CALNETICS CORPORATION No par common CAPITAL BANCORP (Florida) $1.00 par common CB COMMERCIAL REAL ESTATE SERVICES [[Page 3806]] $.01 par common CENTRAL FIDELITY BANKS, INC. $5.00 par common COMMUNITY BANK SYSTEM, INC. (New York) $1.25 par common COMMUNITY CARE OF AMERICA, INC. $.01 par common COMPUTATIONAL SYSTEMS, INC. No par common COMPUTER DATA SYSTEMS, INC. $.10 par common CYRIX CORPORATION $.004 par common DATA DOCUMENTS INCORPORATED $.01 par common DELCHAMPS, INC. $.01 par common DOUBLETREE CORPORATION $.01 par common ELEXSYS INTERNATIONAL, INC. $1.00 par common ENDOVASCULAR TECHNOLOGIES, INC. $.00001 par common EXIDE ELECTRONICS GROUP, INC. $.01 par common FINANCIAL INSTITUTIONS INSURANCE $1.00 par common FIRST FINANCIAL CORPORATION $1.00 par common FIRST SOUTHEAST FINANCIAL CORPORATION $.01 par common FIRSTPLUS FINANCIAL GROUP, INC. $.01 par common FOREST OIL CORPORATION $.10 par common GAME FINANCIAL CORPORATION $.01 par common GATEWAY BANCORP, INC. (Kentucky) $.01 par common GLASTONBURY BANK & TRUST COMPANY $2.50 par common GREEN, A.P. INDUSTRIES, INC. $1.00 par common GREENFIELD INDUSTRIES, INC. $.01 par common GROUND ROUND RESTAURANTS, INC. $.1667 par common GYNECARE INC. $.01 par common HA-LO INDUSTRIES, INC. No par common HAYES WHEELS INTERNATIONAL, $.01 par common HEALTHDYNE, INC. $.01 par common HOLLYWOOD PARK, INC. $.01 par common HOMEGATE HOSPITALITY, INC. $.01 par common HPR, INC. $.01 par common INACOM CORP. $.10 par common INFINITY FINANCIAL TECHNOLOGY, INC. No par common INTERNATIONAL DAIRY QUEEN, INC. Class A, $.01 par common Class B, $.01 par common INTERNATIONAL IMAGING MATERIALS, INC. $.01 par common JACKSON HEWITT INC. $.02 par common JEFFERSON BANKSHARES, INC. (Virginia) $2.50 par common LB FINANCIAL, INC. $.01 par common LEASING SOLUTIONS, INC. No par common LINDSAY MANUFACTURING CO. $1.00 par common MAGNA BANCORP, INC. (Mississippi) $.01 par common MAGNETIC TECHNOLOGIES CORPORATION $.15 par common MAIL BOXES ETC. No par common MEDIC COMPUTER SYSTEMS, INC. $.01 par common MELAMINE CHEMICALS, INC. $.01 par common MODTECH, INC. $.01 par common MOSINEE PAPER CORPORATION $2.50 par common MUSTANG SOFTWARE, INC. No par common NATIONAL HEALTH ENHANCEMENT SYSTEMS $.001 par common NATIONAL PICTURE & FRAME COMPANY $.01 par common NETWORK GENERAL CORPORATION $.01 par common NFO WORLDWIDE, INC. $.01 par common OFFSHORE ENERGY DEVELOPMENT $.01 par common ORTHODONTIC CENTERS OF AMERICA INC. $.01 par common PHONETEL TECHNOLOGIES, INC. $0.01 par common PHYSICIAN SUPPORT SYSTEMS, INC. $.001 par common PHYSICIANS HEALTH SERVICES, INC. Class A, $.01 par common PITTENCRIEFF COMMUNICATIONS, INC. $.01 par common POE & BROWN, INC. $.10 par common PREMENOS TECHNOLOGY CORPORATION $.01 par common PREMIER PARKS, INC. $.05 par common PRIMARY BANK (New Hampshire) $.01 par common PRONET, INC. $.01 par common REXWORKS, INC. $.12 par common ROBBINS & MYERS, INC. No par common ROTECH MEDICAL CORPORATION $.0002 par common SEAMAN FURNITURE COMPANY, INC. $.01 par common SEQUANA THERAPEUTICS, INC. $.001 par common SHO-ME FINANCIAL CORPORATION $.01 par common SIRROM CAPITAL CORPORATION No par common $.01 par common Class A, $.01 par common SULLIVAN DENTAL PRODUCTS, INC. $.01 par common TECHNOLOGY SERVICE GROUP, INC. $.01 par common Warrants (expire 05-09-1999) TECNOL MEDICAL PRODUCTS, INC. $.001 par common THOMPSON PBE, INC. $.01 par common TODHUNTER INTERNATIONAL, INC. $.01 par common TRANSTEXAS GAS CORPORATION $.01 par common TRIANGLE BANCORP, INC. (North No par common TUESDAY MORNING CORP. $.01 par common TYSON FOODS, INC. Class A, $.10 par common USLD COMMUNICATIONS CORPORATION $.01 par common VACATION BREAK U.S.A., INC. $.01 par common VECTRA BANKING CORPORATION $.01 par common VBC Capital I Cumulative capital VIEWLOGIC SYSTEMS, INC. $.01 par common VIRGINIA FIRST FINANCIAL CORPORATION $1.00 par common WALTER INDUSTRIES, INC. $.01 par common ZYTEC CORP. No par common Additions to the List of Marginable OTC Stocks ACT TELECONFERENCING, INC. No par common ADVANTICA RESTAURANT GROUP, INC. $.01 par common Warrants (expire 01-07-2005) ALYDAAR SOFTWARE CORPORATION $.001 par common AMERICAN BINGO & GAMING CORPORATION $.001 par common AMERICAN EDUCATIONAL PRODUCTS, INC. $.05 par common AMERICAN PHYSICIAN PARTNERS, INC. $.001 par common AMERIPATH, INC. $.01 par common AMSURG, INC. Class A, no par common Class B, no par common AMVESTORS FINANCIAL CORPORATION Warrants (expire 04-03-2002) APPLIED FILMS CORPORATION No par common APPLIED MICRO CIRCUITS CORPORATION $.01 par common ATLANTIC GULF COMMUNITIES CORPORATION A Warrants (expire 06-23-2004) B Warrants (expire 06-23-2004) C Warrants (expire 06-23-2004) AVTEAM, INC. $.01 par common BANK OF THE OZARKS, INC. $.01 par common BARBEQUES GALORE LIMITED American Depositary Receipts BAY BANCSHARES, INC. (Texas) $1.00 par common BERINGER WINE ESTATES HOLDINGS, INC. Class B, no par common BIGMAR, INC. [[Page 3807]] $.001 par common BIOANALYTICAL SYSTEMS, INC. No par common BOREL BANK & TRUST COMPANY (California) $.01 par common BRASS EAGLE, INC. $.01 par common BRIGHT HORIZONS, INC. $.01 par common BROUGHTON FOODS COMPANY $1.00 par common C.H. ROBINSON WORLDWIDE, INC. $.10 par common C3, INC. No par common CANADA SOUTHERN PETROLEUM LTD. $1.00 par limited voting shares CAPITOL BANCORP, LTD. $10.00 par trust preferred CAPTEC NET LEASE REALTY, INC. $.01 par common CASELLA WASTE SYSTEMS, INC. Class A, $.01 par common CELLEGY PHARMACEUTICALS, INC. Warrants (expire 08-10-2000) CFI MORTGAGE, INC. $.01 par common COLORADO MEDTECH, INC. No par common COLT TELECOM GROUP, PLC American Depositary Shares COMMUNITY FIRST BANKSHARES, INC. Cumulative Capital Securities of CFB Capital II COMPU-DAWN, INC. $.01 par common CONCORD COMMUNICATIONS, INC. $.01 par common CONNING CORPORATION $.01 par common CONSOLIDATED CAPITAL CORPORATION $.001 par common CRAGAR INDUSTRIES, INC. $.01 par common CROSSKEYS SYSTEMS CORPORATION No par common DENALI, INC. $.01 par common DENTAL CARE ALLIANCE, INC. $.01 par common DENTAL/MEDICAL DIAGNOSTIC SYSTEMS, INC. $.01 par common EAST TELECOM GROUP PLC American Depositary Receipts ECHOSTAR COMMUNICATIONS CORPORATION Series C, $.01 par cumulative convertible preferred EDISON BROTHERS STORES, INCORPORATED $.01 par common ELECTRIC LIGHTWAVE, INC. Class A, $.01 par common ELECTRONIC PROCESSING, INC. $.01 par common ENERGIS, PLC American Depositary Shares ESG RE LIMITED $1.00 par common EXCEL SWITCHING CORPORATION $.01 par common FALLBROOK NATIONAL BANK $.625 par common FAROUDJA, INC. $.001 par common FINET HOLDINGS CORPORATION $.01 par common FIRST ROBINSON FINANCIAL CORPORATION $.01 par common FIRST SECURITYFED FINANCIAL, INC. $.01 par common FLEXIINTERNATIONAL SOFTWARE, INC. $.01 par common FOCAL, INC. $.01 par common FORMULA SYSTEMS (1985), LTD. American Depositary Receipts FRANKLIN BANK, NATIONAL ASSOCIATION Series A, noncumulative exchangeable preferred FRANCHISE MORTGAGE ACCEPTANCE COMPANY $.001 par common FRIENDLY ICE CREAM CORPORATION $.01 par common GAMETECH INTERNATIONAL, INC. $.001 par common GART SPORTS COMPANY $.01 par common GENE LOGIC, INC. $.001 par common GILAT COMMUNICATIONS, LTD. Ordinary Shares (NIS .01) GOLD BANC CORPORATION, INC. $25 par preferred securities GREAT PEE DEE BANCORP, INC. $.01 par common HAYES CORPORATION $.01 par common HEALTHWORLD CORPORATION $.01 par common HERBALIFE INTERNATIONAL, INC. Class B, $.01 par common HERITAGE FINANCIAL CORPORATION $.01 par common HERLEY INDUSTRIES, INC. Warrants (expire 01-11-1999) HOLT'S CIGAR HOLDINGS, INC. $.001 par common HOMECAPITAL INVESTMENT CORPORATION $.01 par common HURRICANEHYDROCARBONS, LTD. Class A, no par common HYBRID NETWORKS, INC. $.001 par common I.C. ISAACS & COMPANY, INC. $.0001 par common ICOS VISION SYSTEMS CORPORATION No par common IMAGEMAX, INC. No par common IMAGING TECHNOLOGIES CORPORATION $.005 par common IMPERIAL CREDIT COMMERCIAL MORTGAGE INVESTORS $.001 par common INDIANA UNITED BANCORP, INC. Cumulative trust preferred securities INFORMATION ADVANTAGE, INC. $.01 par common INMARK ENTERPRISES, INC. $.001 par common INNOVATIVE VALVE TECHNOLOGIES, INC. $.001 par common INTERNATIONAL AIRCRAFT INVESTORS $.01 par common INTERNATIONAL BRIGUETTES HOLDING $.01 par ordinary shares INTERNATIONAL MANUFACTURING SERVICES, INC. Class A, $.001 par common INTERNATIONAL SPORTS WAGERING, INC. $.001 par common INTERVU, INC. $.001 par common ITC DELTACOM, INC. $.01 par common JAVELIN SYSTEMS, INC. $.01 par common KSB BANCORP, INC. $.01 par common LAMINATING TECHNOLOGIES, INC. $.01 par common LANDMARK SYSTEMS CORPORATION $.01 par common LET'S TALK CELLULAR & WIRELESS, INC. $.01 par common LINC CAPITAL, INC. $.001 par common LONG ISLAND COMMERCIAL BANK $3.00 par common LYNX THERAPEUTICS, INC. $.001 par common MADE2MANAGE SYSTEMS, INC. No par common MAHONING NATIONAL BANCORP, INC. No par common, $1.00 stated value MEDIWARE INFORMATION SYSTEMS, INC. $.10 par common METROMEDIA FIBER NETWORK, INC. Class A, $.01 par common METRONET COMMUNICATIONS CORPORATION Class B, non-voting no par common MIDWAY AIRLINES CORPORATION $.01 par common MMC NETWORKS, INC. $.001 par common MONTGOMERY FINANCIAL CORPORATION $.01 par common MOTOR CARGO INDUSTRIES, INC. No par common MPW INDUSTRIAL SERVICES GROUP, INC. No par common MYSTIC FINANCIAL, INC. $.01 par common N2K, INC. $.001 par common NAM TAI ELECTRONICS, INC. Warrants (expire 11-01-2000) NANOPHASE TECHNOLOGIES CORPORATION $.01 par common NEUTRAL POSTURE ERGONOMICS, INC. $.01 par common NOVACARE EMPLOYEES SERVICES, INC. $.01 par common NOVAMERICAN STEEL, INC. No par common NRG GENERATING (U.S.), INC. $.01 par common NYMOX PHARMACEUTICAL CORPORATION $2.00 par common OAO TECHNOLOGY SOLUTIONS, INC. $.01 par common OMNI ENERGY SERVICES CORPORATION $.01 par common OUTSOURCE INTERNATIONAL, INC. $.001 par common OYO GEOSPACE CORPORATION [[Page 3808]] $.01 par common PAPER WAREHOUSE, INC. $.01 par common PAULA FINANCIAL $.01 par common PEMBRIDGE, INC. No par common PENNFED FINANCIAL SERVICES, INC. $25.00 par cumulative trust preferred stock PENNFIRST BANCORP, INC. Cumulative trust preferred securities PERICOM SEMICONDUCTOR CORPORATION No par common PETROGLYPH ENERGY, INC. $.01 par common POWER INTEGRATION, INC. $.001 par common PRECISION AUTO CARE, INC. $.01 par common PREVIEW TRAVEL, INC. $.001 par common PRINCETON VIDEO IMAGE, INC. No par common PRIORITY HEALTHCARE CORPORATION Class B, $.01 par common PROGENICS PHARMACEUTICALS, INC. $.0013 par common PRT GROUP $.001 par common QUESTA OIL & GAS COMPANY $.01 par common QUIGLEY CORPORATION $.0005 par common REALNETWORKS, INC. $.001 par common ROCK OF AGES CORPORATION Class A, $.01 par common SIX RIVERS NATIONAL BANK (California) $5.00 par common SKY NETWORK TELEVISION LIMITED American Depositary Shares SNB BANCSHARES, INC. (Georgia) $1.00 par common SOMNUS MEDICAL TECHNOLOGIES, INC. $.001 par common SOUTHERN COMMUNITY BANCSHARES, INC. $.01 par common SPECTRA-PHYSICS LASERS, INC. $.01 par common SPIROS DEVELOPMENT CORPORATION II, INC. Units (expire 12-31-1999) SPORTSLINE USA, INC. $.01 par common STIRLING COOKE BROWN HOLDINGS LIMITED $.25 par ordinary shares SUCCESS BANCSHARES, INC. (Illinois) $.001 par common SUN BANCORP, INC. (New Jersey) $1.00 par common T & W FINANCIAL CORPORATION $.01 par common TEKGRAF, INC. $.001 par common Warrants (expire 11-20-2002) TELIGENT, INC. Class A, $.01 par common TELSCAPE INTERNATIONAL, INC. $.001 par common TERA COMPUTER COMPANY $.01 par common TIER TECHNOLOGIES, INC. Class B, no par common TIMBERLAND BANCORP, INC. $.01 par common TODAY'S MAN, INC. Warrants (expire 12-31-1999) TOPRO, INC. $.0001 par common TOYMAX INTERNATIONAL, INC. $.01 par common TRANSCOASTAL MARINE SERVICES, INC. $.001 par common TRANSIT GROUP, INC. $.01 par common TRI-COUNTY BANCORP, INC. $.10 par common TROPICAL SPORTSWEAR INTERNATIONAL CORPORATION $.01 par common U.S. TIMBERLANDS COMPANY, LP No par common U.S. VISION, INC. $.01 par common UBICS, INC. $.01 par common UNIDYNE CORPORATION $.001 par common UNION COMMUNITY BANCORP. No par common USWEB CORPORATION $.0001 par common VARI-LITE INTERNATIONAL, INC. $.01 par common VIRGIN EXPRESS HOLDINGS, PLC American Depositary Shares VRB BANCORP (Oregon) No par common WARWICK COMMUNITY BANCORP, INC. $.01 par common WASHINGTON SCIENTIFIC INDUSTRIES, INC. $.10 par common WHG BANCSHARES CORPORATION $.10 par common WHITE CAP INDUSTRIES, INC. $.01 par common WMF GROUP, LTD. $.01 par common YOUNG INNOVATIONS, INC. $.01 par common ZYMETX, INC. $.001 par common Deletions From the Foreign Margin List Australia ARNOTTS LIMITED Ordinary shares, par A$0.50 BANK OF MELBOURNE LIMITED Ordinary shares, par A$1.00 Austria CREDITANSTALT-BANKVEREIN AG Preferred shares, par 100 Austrian CREDITANSTALT-BANKVEREIN AG Ordinary shares, par 1000 Austrian CREDITANSTALT-BANKVEREIN AG Participation Certificates, par 500 Belgium BBL (BANQUE BRUX LAMB) Ordinary shares, no par POWERFIN SA No par participating certificates Canada LONDON INSURANCE GROUP INC. No par common France USINOR SACILOR Common shares par 40 French francs WORMS ET COMPAGNIE SCA Registered shares, par 12 French Germany PWA PAPIERWERKE WALDHOF-ASCHAFFENBURG Bearer shares, par DM 50 Hong Kong CHINA LIGHT & POWER COMPANY, LIMITED HK$5.00 par ordinary shares KOWLOON MOTOR BUS COMPANY (1933) LTD HK$1.00 par ordinary shares Ireland WOODCHESTER INVESTMENTS PLC A Ordinary shares, par .20 Irish Italy BANCO AMBROSIANO VENETO SPA Non-convertible savings shares, par BANCO AMBROSIANO VENETO SPA Ordinary shares, par 1000 lira Japan HOKKAIDO TAKUSHOKU BANK, LIMITED Y 50 par common JAPAN SYNTHETIC RUBBER CO., LTD. Y 50 par common SANYO SECURITIES CO., LTD. Y 50 par common TOSHOKU LTD. Y 50 par common YAMAICHI SECURITIES CO., LTD. Y 50 par common Mexico CIFRA, S.A. DE C.V. Series A Common, par .30 Mexican CIFRA, S.A. DE C.V. Series B Common, par .30 Mexican Norway STOREBRAND AS Convertible preferred A shares, par Philippines AYALA CORPORATION Class B common shares, par 1 AYALA LAND INC. Class B Common Shares, par 1 Singapore HAW PAR BROTHERS INTERNATIONAL LTD. Ordinary shares, par S$1.00 INCHCAPE BERHAD Ordinary shares, par S$0.50 Sweden NORDBANKEN AB Restricted shares, par 12.50 SPARBANKEN SVERIGE AB (Swedbank) Series A, par 10 Swedish krona Switzerland ELEKTROWATT AG Bearer shares, par 50 Swiss francs United Kingdom COWIE GROUP PLC Ordinary shares, par 5 p GRAND METROPOLITAN PLC Ordinary shares, par 25 p GUINNESS PLC [[Page 3809]] Ordinary shares, par 25 p HARRISONS & CROSFIELD PLC Ordinary shares, par 25 p MERCURY ASSET MANAGEMENT GROUP PLC Ordinary shares, par 5 p REDLAND PLC Ordinary shares, par 25 p TR CITY OF LONDON TRUST PLC Ordinary shares, par 25 p Additions to the Foreign Margin List Australia TELSTRA CORPORATION Ordinary shares, par A$1.00 Austria AUSTRIAN TABAK Ordinary shares, par 1000 Austrian Belgium UCB SA Ordinary shares, no par France FRANCE TELECOM SA Ordinary shares, par 25 French USINOR SA Common, par 40 French francs Germany HOECHST AG Bearer shares, par DM 50 Hong Kong CLP HOLDINGS, LIMITED HK$5.00 par ordinary shares KMB HOLDINGS, LIMITED HK$1.00 par ordinary shares Italy BANCA INTESA SPA Ordinary shares, par 1000 lira BANCA INTESA SPA Non-convertible savings shares, par Japan JSR CORPORATION Y 50 par common RINNAI CORPORATION Y 50 par common Mexico CIFRA, S.A. DE C.V. Series V, no par common Norway STOREBRAND AS A Common Shares, par 5 Norwegian Philippines AYALA CORPORATION Common, par 1 Philippine peso AYALO LAND, INC. Common, par 1 Philippine peso Singapore HAW PAR CORPORATION Ordinary shares, par S$1.00 INCHOAPE MOTORS, LTD. Ordinary shares, par S$.50 Sweden FORENINGS SPARBANKEN AB Series A, par 10 Swedish krona NORDBANKEN HOLDING AB Registered shares, par 12.50 United Kingdom ARRIVA PLC Ordinary shares, par 5 p CITY OF LONDON PLC Ordinary shares, par 25 p DIAGEO PLC Ordinary shares, par 25 p ELEMENTIS 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 Regulation pursuant to delegated authority (12 CFR 265.7(f)(10)), January 21, 1998. Jennifer J. Johnson, Deputy Secretary of the Board. [FR Doc. 98-1863 Filed 1-26-98; 8:45 am] BILLING CODE 6210-01-P