Credit by brokers and dealers (Regulation T): Foreign margin stocks; list,
[Federal Register: August 20, 2002 (Volume 67, Number 161)]
[Rules and Regulations]
[Page 53875-53876]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20au02-1]
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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.
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[[Page 53875]]
FEDERAL RESERVE SYSTEM
[Regulation T]
Credit by Brokers and Dealers; 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 Foreign Margin Stocks (Foreign List) is composed of certain foreign equity securities that qualify as margin securities under Regulation T. The Foreign List is published twice a year by the Board.
EFFECTIVE DATE: September 1, 2002.
FOR FURTHER INFORMATION CONTACT: Peggy Wolffrum, Financial Analyst, Division of Banking Supervision and Regulation, (202) 452-2837, or Scott Holz, Senior Counsel, Legal Division, (202) 452-2966, Board of Governors of the Federal Reserve System, Washington, DC 20551.
SUPPLEMENTARY INFORMATION: Listed below is a complete edition of the Board's Foreign List. The Foreign List was last published on February 22, 2002 (67 FR 8182), and became effective March 1, 2002. There are no additions to or deletions from the Foreign List.
The Foreign List is composed of foreign equity securities that qualify as margin securities under Regulation T by meeting the requirements of Sec. 220.11(c) and (d). Additional foreign securities qualify as margin securities if they are deemed by the Securities and Exchange Commission (SEC) to have a ``ready market'' under SEC Rule 15c3-1 (17 CFR 240.15c3-1) or a ``no-action'' position issued thereunder. This includes all foreign stocks in the FTSE World Index Series.
It is unlawful for any creditor to make, or cause to be made, any representation to the effect that the inclusion of a security on the Foreign List is evidence that the Board or the SEC has in any way passed upon the merits of, or given approval to, such security or any transactions therein. Any statement in an advertisement or other similar communication containing a reference to the Board in connection with the Foreign List or the stocks thereon shall be an unlawful representation.
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 Foreign List specified in Sec. 220.11(c) and (d). 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 the Foreign List as soon as possible. The Board has responded to a request by the public and allowed approximately a one-week delay before the Foreign List is effective.
List of Subjects in 12 CFR Part 220
Brokers, Credit, Margin, Margin requirements, Investments, 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 220.2 and 220.11, there is set forth below a complete edition of the Foreign List.
Japan
Akita Bank, Ltd.
1/87/21/53/850 par common Aomori Bank, Ltd.
1/87/21/53/850 par common Asatsu-DK Inc.
1/87/21/53/850 par common Bandai Co., Ltd. 1/87/21/53/850 par common Bank of Nagoya, Ltd.
1/87/21/53/850 par common Chudenko Corp.
1/87/21/53/850 par common Chugoku Bank, Ltd.
1/87/21/53/850 par common Clarion Co., Ltd.
1/87/21/53/850 par common Daihatsu Motor Co., Ltd.
1/87/21/53/850 par common Dainippon Screen Mfg. Co., Ltd.
1/87/21/53/850 par common Denki Kagaku Kogyo
1/87/21/53/850 par common Eighteenth Bank, Ltd.
1/87/21/53/850 par common Futaba Corp.
1/87/21/53/850 par common Futaba Industrial Co., Ltd.
1/87/21/53/850 par common Higo Bank, Ltd.
1/87/21/53/850 par common Hitachi Software Engineering Co., Ltd.
1/87/21/53/850 par common Hokkoku Bank, Ltd.
1/87/21/53/850 par common Hokuetsu Paper Mills, Ltd.
1/87/21/53/850 par common Iyo Bank, Ltd.
1/87/21/53/850 par common Japan Airport Terminal Co., Ltd.
1/87/21/53/850 par common Juroku Bank, Ltd.
1/87/21/53/850 par common Kagoshima Bank, Ltd.
1/87/21/53/850 par common Kamigumi Co., Ltd.
1/87/21/53/850 par common Katokichi Co., Ltd.
1/87/21/53/850 par common Keisei Electric Railway Co., Ltd.
1/87/21/53/850 par common Keiyo Bank, Ltd.
1/87/21/53/850 par common Komori Corp.
1/87/21/53/850 par common Konami Co., Ltd.
1/87/21/53/850 par common Kyowa Exeo Corp.
1/87/21/53/850 par common Matsushita Seiko Co., Ltd.
1/87/21/53/850 par common Michinoku Bank, Ltd.
1/87/21/53/850 par common Musashino Bank, Ltd.
1/87/21/53/8500 par common Namco, Ltd.
1/87/21/53/850 par common Nichicon Corp.
1/87/21/53/850 par common Nihon Unisys, Ltd.
1/87/21/53/850 par common Nippon Comsys Corp.
1/87/21/53/850 par common
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Nishi-Nippon Bank, Ltd.
1/87/21/53/850 par common Nishi-Nippon Railroad Co., Ltd.
1/87/21/53/850 par common Nissan Chemical Industries, Ltd.
1/87/21/53/850 par common Ogaki Kyoritsu Bank, Ltd.
1/87/21/53/850 par common Q.P. Corp.
1/87/21/53/850 par common Rinnai Corporation
1/87/21/53/850 par common Sagami Railway Co., Ltd.
1/87/21/53/850 par common Sakata Seed Corp.
1/87/21/53/850 par common Santen Pharmaceutical Co., Ltd.
1/87/21/53/850 par common Shimadzu Corp.
1/87/21/53/850 par common Shimamura Co., Ltd.
1/87/21/53/850 par common Simitomo Rubber Industries, Ltd.
1/87/21/53/850 par common Taiyo Yuden Co., Ltd.
1/87/21/53/850 par common Takara Standard Co., Ltd.
1/87/21/53/850 par common Takuma Co., Ltd.
1/87/21/53/850 par common Toho Bank, Ltd.
1/87/21/53/850 par common Toho Gas Co., Ltd.
1/87/21/53/850 par common Tokyo Ohka Kogyo Co., Ltd.
1/87/21/53/850 par common Uni-Charm Corp.
1/87/21/53/850 par common Ushio, Inc.
1/87/21/53/850 par common Yamaha Motor Co., Ltd.
1/87/21/53/850 par common
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)), August 15, 2002. Jennifer J. Johnson, Secretary of the Board.
[FR Doc. 02-21188Filed8-19-02; 8:45 am]
BILLING CODE 6210-01-P
