This section of the FEDERAL REGISTER

contains regulatory documents having general

applicability and legal effect, most of which

are keyed to and codified in the Code of

Federal Regulations, which is published under

50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by

the Superintendent of Documents. Prices of

new books are listed in the first FEDERAL

REGISTER issue of each week.

Rules and Regulations Federal Register

20005

Vol. 60, No. 78

Monday, April 24, 1995

DEPARTMENT OF AGRICULTURE

Rural Housing and Community

Development Service, Rural Business

and Cooperative Development Service,

Rural Utilities Service, and

Consolidated Farm Service Agency,

Department of Agriculture

7 CFR Chapter XVIII

CFR Correction

In title 7 of the Code of Federal

Regulations, parts 1940 to 1949, revised

as of January 1, 1995, make the

following corrections:

1. On pages iii, 1 and 5, the heading

for chapter XVIII which currently reads

‘‘Farmers Home Administration,

Department of Agriculture’’ should read

‘‘Rural Housing and Community

Development Service, Rural Business

and Cooperative Development Service,

Rural Utilities Service, and

Consolidated Farm Service Agency,

Department of Agriculture’’.

2. Everywhere ‘‘Farmers Home

Administration’’, ‘‘FHA’’, ‘‘FmHA’’,

‘‘Rural Development Administration’’,

or ‘‘RDA’’ are mentioned, the phrase ‘‘or

its successor agency under Public Law

103–354’’ should follow immediately

thereafter.

BILLING CODE 1505-01-D

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 Foreign List.

EFFECTIVE DATE: May 8, 1995.

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 Dorothea Thompson,

Telecommunications Device for the Deaf

(TDD) at (202) 452–3544.

SUPPLEMENTARY INFORMATION: Listed

below are additions to and deletions

from the OTC List, which was last

published on January 31, 1995 (60 FR

5845), and became effective February

13, 1995. A copy of the complete OTC

List is available from the Federal

Reserve Banks.

The OTC List includes those stocks

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 a

rule 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 additions to and

one deletion from the Board’s Foreign

List, which was last published on

January 31, 1995 (60 FR 5845), and

which became effective February 13,

1995. The Foreign List includes those

foreign securities that meet the criteria

in section 220.17 of Regulation T and

are eligible for margin treatment at

broker-dealers on the same basis as

domestic margin securities. 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.
20006 Federal Register / Vol. 60, No. 78 / Monday, April 24, 1995 / Rules and Regulations

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(u)

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

Applied Laser Systems

Class A, no par common

California Micro Devices Corp.

No par common

CCAIR, Inc.

$.01 par common

Communications & Entertainment

Corporation

$.01 par common

Cooper Development Company

$.10 par common

Crescent Airways Corporation

$.01 par common

Warrants (expire 01–09–98)

Immunix Corporation

Warrants (expire 01–31–95)

Invitro International

No par common

Jasmine Ltd.

$.001 par common

Lone Star Casino Corporation

$.001 par common

Lukens Medical Corporation

$.01 par common

Medical Care America, Inc.

7% convertible debentures, due 2015

Medical Dynamics, Inc.

$.001 par common

Medicis Pharmaceutical Corp.

Class B, warrants (expire 03–28–95)

Ministor Peripherals International Ltd.

$.012454 par common

Redeemable warrants (expire 07–29–

99)

Octus, Inc.

No par common

Oesi Power Corporation

$.01 par common

PDK Labs, Inc.

$.01 par common

Pharmhouse Corporation

$.01 par common

Pharmos Corporation

$.03 par common

Phycor, Inc.

6.5% convertible subordinated

debentures

Primedex Health Systems, Inc.

$.01 par common

PXRE Corporation

Depositary Shares

Regency Equities Corporation

$.01 par common

RGB Computer & Video, Inc.

No par common

Sayett Group, Inc.

Warrants (expire 02–05–95)

Search Capital Group, Inc.

$.01 par common

Security Environmental Systems, Inc.

$.03 par common

Southern Mineral Corporation

$.01 par common

Sports & Recreation, Inc.

41⁄4% convertible subordinated notes

Standish Care Company, The

Series A, $.01 par cumulative

convertible preferred

Staodyn, Inc.

Warrants (expire 02–28–95)

Synetic, Inc.

7% convertible subordinated

debentures

T*HQ, Inc.

$.001 par common

Transamerican Waste Industries, Inc.

$.001 par common

Class A, warrants (expire 11–16–96)

Class B, warrants (expire 11–16–96)

Vaalco Energy, Inc.

$.10 par common

Value-Added Communications, Inc.

$.01 par common

Wellstead Industries, Inc.

$.01 par common

Stocks Removed for Listing on a

National Securities Exchange or Being

Involved in an Acquisition

A Pea in the Pod, Inc.

$.01 par common

Affymax N.V.

Common stock (NLG .06)

Air-Cure Environmental, Inc.

$.001 par common

AK Steel Holding Corporation

$.01 par common,

7% convertible preferred

Ameribanc Investors Group Inc.

$1.00 par shares of beneficial interest

Arbor National Holdings, Inc.

$.01 par common

Atlanfed Bancorp, Inc. (Maryland)

$1.00 par common

Balchem Corporation

$.062⁄3 par common

BB & T Financial Corporation

$2.50 par common

Birtcher Medical Systems, Inc.

No par common

Canstar Sports Inc.

No par common

Cardiovascular Imaging Systems, Inc.

No par common

Club Car, Inc.

$.01 par common

Colonial Bancgroup, Inc., The

(Alabama)

Class A, $2.50 par common

Colonial Group, Inc., The Class A, $.10

par common

Commerce Group, Inc., The

$.50 par common

Concord Holding Corporation

$.01 par common

Convertech International, Inc.

$.01 par common

Convergent Solutions, Inc.

$.01 par common

Crop Genetics International Corp.

$.10 par common,

$.95 convertible exchangeable

preferred

Cytorad Incorporated

Units (expire 01–31–97)

Dibrell Brothers, Inc.

$1.00 par common

Dollar General Corporation

$.50 par common

Drew Industries Incorporated

$.01 par common

Energynorth, Inc.

$1.00 par common

Equicredit Corporation

$.01 par common

Fidelity New York F.S.B.

$.01 par common

First Colonial Bankshares (Illinois)

Class A, $1.25 par common,

No par Despoitary Shares

First National Bank Corp. (Michigan)

$3.125 par common

Firstock Bancorp, Inc. (Illinois)

$.01 par common

Furon Company

No par common

General Computer Corporation

$.10 par common

Great Bay Bankshares, Inc. (New

Hampshire)

$.10 par common

Great Lakes Bancorp, a Federal Savings

Bank

$.01 par common

Gwinnett Bancshares, Inc. (Georgia)

$1.00 par common

Hamilton Bancorp, Inc. (New York)

$.01 par common

Healthy Planet Products Inc.

$.01 par common

Huntco Inc.

Class A, $.01 par common

Isomedix Inc.

$.01 par common

Kankakee Bancorp, Inc. (Illinois)

$.01 par common

LF Bancorp, Inc. (Mississippi)

$.01 par common

Magma Power Company

$.10 par common

Mayflower Group, Inc.

No par common

Megahertz Corporation

$.004 par common

Mitek Surgical Products, Inc.
Federal Register / Vol. 60, No. 78 / Monday, April 24, 1995 / Rules and Regulations 20007

$.01 par common

Morgan Group, Inc., The

Class A, $.015 par common

Namic U.S.A. Corporation

$.01 par common

NBSC Corporation

$2.50 par common

Network Systems Corporation

$.02 par common

New England Business Service, Inc.

$1.00 par common

Plaza Home Mortgage Corporation

$.01 par common

PMC Commercial Trust

Shares of beneficial interest

Polymedica Industries, Inc.

$.01 par common

Powersoft Corporation

$.00167 par common

Public Service Company of North

Carolina

$1.00 par common

Pyramid Technology Corporation

$.01 par common

QVC Inc.

$.01 par common

Radiation Care, Inc.

$.01 par common

Scimed Life Systems, Inc.

$.05 par common

Sonoco Products Company

No par common

Series A, cumulative convertible

preferred

Southern Starr Broadcasting Group, Inc.

$.01 par common

State Street Boston Corporation

$1.00 par common

Tidemark Bancorp Inc. (Virginia)

$.01 par common

Tomkins PLC

American Depositary Receipts

U.S. Can Corporation

$.01 par common

United States Paging Corporation

$.01 par common

University Bank & Trust Company

(California)

$2.50 par common

Vestar, Inc.

$.01 par common

Webco Industries, Inc.

$.01 par common

Welbilt Corporation

$.01 par common

West Coast Bancorp (California)

No par common

Wisconsin Pharmacal Co., Inc.

$.01 par common

Additions to the List of Marginable OTC

Stocks

Access Healthnet, Inc.

$.001 par common

Act Manufacturing, Inc.

$.01 par common

ADCO Technologies, Inc.

$.01 par common

Aegis Consumer Funding Group, The

$.01 par common

American Bancorp of Nevada

$.05 par common

Ames Department Stores, Inc.

$.01 par common

Warrants (expire 01–31–99)

Ampace Corporation

$.0001 par common

Analytical Surveys, Inc.

No par common

ASM Lithography Holding N.V.

Ordinary Shares

ATS Medical Inc.

Warrants (expire 03–09–97)

Avondale Financial Corporation

$.01 par common

Bank West Financial Corporation

$.01 par common

BCT International Inc.

$.04 par common

Benihana National Corp.

Class A, $.10 par common

Bio-Reference Laboratories, Inc.

$.001 par common

Bio-Technology General Corporation

Warrants (expire 12–31–98)

Bridgeville Savings Bank, FSB

(Pennsylvania)

$.10 par common

Brooks Automation, Inc.

$.01 par common

Burke Mills, Inc.

No par common

C*ATS Software Inc.

$.001 par common

Cameron Financial Corporation

$.01 par common

Cardinal Realty Services, Inc.

No par common

Carrington Laboratories, Inc.

$.01 par common

CBT Group PLC

American Depositary Receipts

Chief Consolidated Mining Company

$.50 par common

Coastwide Energy Services, Inc.

$.01 par common

Coin Bill Validator, Inc.

$.01 par common

Commonwealth Aluminum Corporation

$.01 par common

Concentra Corporation

$.00001 par common

Continental Circuits Corporation

$.01 par common

Corporate Renaissance Group, Inc.

$.01 par common

Creative Computers, Inc.

$.001 par common

Creative Technologies Corporation

$.03 par common

Cytogen Corporation

Rights (expire 01–31–97)

Warrants (expire 01–31–97)

Daisytek International Corporation

$.01 par common

Datastream Systems, Inc.

$.01 par common

Diamond Multimedia Systems, Inc.

No par common

Dualstar Technologies Corporation

$.01 par common

Class A, warrants (expire 02–14–2000)

Easco Inc.

No par common

Equalnet Holding Corporation

$.01 par common

Equus Gaming Company L.P.

Class A, units representing beneficial

ownership

Expert Software Inc.

$.01 par common

Finlay Enterprises, Inc.

$.01 par common

First Federal Bancorp, Inc. (Ohio)

No par common

First Keystone Financial Inc.

$.01 par common

First Southern Bancshares Inc.

No par common

First United Bancorporation

$1.67 par common

Firstar Corporation

American Depositary Shares

Firstfederal Financial Services Corp.

Series B, 61⁄2% no par cumulative

convertible preferred

Fort Howard Corporation

$.01 par common

Fountain Oil Incorporated

$.10 par common

Garden State Bancshares, Inc. (New

Jersey)

No par common

General Acceptance Corporation

No par common

General Magic, Inc.

$.001 par common

Globalstar Telecommunications, Ltd.

$1.00 par common

Guaranty Federal Savings Bank

$1.00 par common

Hain Food Group, Inc., The

$.01 par common

HCIA, Inc.

$.01 par common

Hello Direct, INC.

$.001 par common

Hictory Tech Corporation

No par common

Home Bancorp (Indiana)

No par common

Independence Bancorp, Inc. (New

Jersey)

$1.667 par common

Information Storage Devices, Inc.

No par common

Insight Enterprises, Inc.

$.01 par common

Integrated Silicon Solution, Inc.

$.0001 par common

Interface, Inc.

Warrants (expire 06–30–95)

International Nursing Service

12% cumulative convertible preferred

ISB Financial Corporation

$1.00 par common

Kelly Oil & Gas Corporation
20008 Federal Register / Vol. 60, No. 78 / Monday, April 24, 1995 / Rules and Regulations

$.01 par common

$2.625 convertible exchangeable

preferred

Krug International Corp.

Warrants (expire 01–27–98)

LSB Financial Corporation

$.01 par common

Medpartners, Inc.

$.001 par common

Monterey Bay Bancorp, Inc.

$.01 par common

Mountbatten, Inc.

$.001 par common

Mustang Software, Inc.

No par common

Nastech Pharmaceutical Company Inc.

$.006 par common

National Instruments Corporation

$.01 par common

Neopath, Inc.

$.01 par common

NTN Canada, Inc.

$.07 par common

Oak Technology, Inc.

$.001 par common

Open Environment Corporation

No par common

Ostex International Inc.

$.01 par common

P–COM, Inc.

$.0001 par common

Pacific Basin Bulk Shipping Ltd.

$.7327 par common

Warrants (expire 09–30–99)

Palmer Wireless, Inc.

Class A, $.01 par common

Periphonics Corporation

$.01 par common

Premisys Communications, Inc.

$.01 par common

QCF Bancorp, Inc. (Minnesota)

$.01 par common

Remedy Corporation

$.00005 par common

Renaissance Solutions, Inc.

$.001 par common

Renters Choice Inc.

$.01 par common

Riviana Foods Inc.

$1.00 par common

SDL, Inc.

$.001 par common

Select Media Communications, Inc.

$.001 par common

Semitool, Inc.

No par common

Semtech Corporation

$.01 par common

Sirrom Capital Corporation

No par common

Software Artistry, Inc.

No par common

South Carolina Community Bancshares,

Inc.

$.01 par common

Springfield Institution for Savings

$1.00 par common

STB Systems, Inc.

$.01 par common

Strattec Security Corporation

$.01 par common

Sure Shot International, Inc.

$.01 par common

TGV Software, Inc.

$.001 par common

Third Financial Corporation

$.01 par common

Thrustmaster, Inc.

No par common

Tivoli Systems Inc.

$.01 par common

Transaction Systems Architects Inc.

Class A, $.005 par common

Tylan General Inc.

$.001 par common

Uniholding Corporation

$.01 par common

Uniroyal Chemical Corporation

$.01 par common

US Office Products Company

$.001 par common

Vari-L Company, Inc.

$.01 par common

Viasoft, Inc.

$.001 par common

Video Sentry Corporation

$.01 par common

Videotron Holdings, PLC

American Depositary Receipts

Webster City Federal Savings Bank

(Iowa)

$.10 par common

Wells Financial Corporation

$.10 par common

Deletion From the List of Foreign

Margin Stocks

Hitachi Sales Corporation

¥ 50 par common

Additions to the List of Foreign Margin

Stocks

Allianz Holdings AG

Registered, par DM 50

Basf AG Holding

Ordinary, par DM 50

Bayer AG

Ordinary, par DM 50

Bayerische Motoren Werke AG

Ordinary, par DM 50

Beiersdorf AG

Ordinary, par DM 50

Commerzbank AG

Bearer, par DM 50

Deutsche Bank AG

Ordinary, par DM 50

Gehe AG

Ordinary, par DM 50

Henkel KGAA-VORZUG

Preference, par DM 50

Hoechst AG

Ordinary, par DM 50

Mannesmann AG

Ordinary, par DM 50

Muenchener Rueckversicherungs

Registered, par DM 100

S.A.P. AG

Preference, par DM 50

Schering AG

Ordinary, par DM 50

Volkswagen AG

Ordinary, par DM 50

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)), April 18, 1995.

William W. Wiles,

Secretary of the Board.

[FR Doc. 95–10018 Filed 4–21–95; 8:45 am]

BILLING CODE 6210–01–P

FARM CREDIT ADMINISTRATION

12 CFR Parts 614, 615, 618

RIN 3052–AB53

Loan Policies and Operations; Funding

and Fiscal Affairs, Loan Policies and

Operations, and Funding Operations;

General Provisions

AGENCY: Farm Credit Administration.

ACTION: Final rule.

SUMMARY: The Farm Credit

Administration (FCA), by order of the

FCA Board (Board), adopts a final rule

that repeals several regulations

concerning loan policies and operations,

funding, and miscellaneous items as

well as two Agency prior-approval

requirements. These repeals are part of

an ongoing effort by the FCA to reduce

unnecessary regulatory burdens on

Farm Credit System (FCS or System)

institutions.

EFFECTIVE DATE: This rule shall become

effective upon the expiration of 30 days

after publication in the Federal

Register, during which either or both

Houses of Congress are in session.

Notice of the effective date will be

published in the Federal Register.

FOR FURTHER INFORMATION CONTACT:

W. Eric Howard, Policy Analyst,

Regulation Development, Office of

Examination, Farm Credit

Administration, McLean, VA 22102–

5090, (703) 883–4498, TDD (703) 883–

4444,

or

Richard A. Katz, Senior Attorney,

Regulatory Operations Division,

Office of General Counsel, Farm

Credit Administration, McLean, VA

22102–5090, (703) 883–4020, TDD

(703) 883–4444.

SUPPLEMENTARY INFORMATION:

I. Background

On June 10, 1993, the FCA Board

approved a Statement on Regulatory