Credit by brokers and dealers (Regulation T): Foreign margin stocks list,

[Federal Register: August 26, 1999 (Volume 64, Number 165)]

[Rules and Regulations]

[Page 46559-46560]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr26au99-1]

Rules and Regulations Federal Register

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.

[[Page 46559]]

FEDERAL RESERVE SYSTEM

12 CFR Part 220

[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, 1999.

FOR FURTHER INFORMATION CONTACT: Peggy Wolffrum, Securities Regulation 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. For the hearing impaired only, contact Dorothea Thompson, Telecommunications Device for the Deaf (TDD) at (202) 452-3544.

SUPPLEMENTARY INFORMATION: Listed below is a complete edition of the Board's Foreign List. The Foreign List was last published on February 23, 1999 (64 FR 8711), and became effective March 1, 1999.

The Foreign List is composed of foreign equity securities that qualify as foreign margin stock under Regulation T by meeting the requirements of section 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 on the Financial Times/Standard & Poor's Actuaries World Indices.

There are no additions to the Foreign List. The following nine stocks are being removed because they no longer substantially meet the provisions of section 220.11(d) of Regulation T: Hong Kong PEREGRINE INVESTMENT HOLDINGS LTD.

HK $.60 ordinary shares Japan KURIMOTO, LTD.

‹yen› 50 par common KYUDENKO CORPORATION

‹yen› 50 par common MEIDENSHA CORPORATION

‹yen› 50 par common NISSAN FIRE & MARINE INSURANCE CO., LTD.

‹yen› 50 par common SANYO SECURITIES CO., LTD.

‹yen› 50 par common TOKYO SOWA BANK, LTD.

‹yen› 50 par common TOKYO TATEMONO CO., LTD.

‹yen› 50 par common TOSHIBA CERAMICS CO., LTD.

‹yen› 50 par common

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 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.

Germany GEHE AG

Ordinary shares, par DM 50 HOECHST AG

Ordinary shares, par DM 50 Japan AIWA CO., LTD.

‹yen›50 par common AKITA BANK, LTD.

‹yen›50 par common AOMORI BANK, LTD.

‹yen›50 par common ASATSU INC.

‹yen›50 par common BANDAI CO., LTD.

‹yen›50 par common BANK OF KINKI, LTD.

‹yen›50 par common BANK OF NAGOYA, LTD.

‹yen›50 par common CHUDENKO CORP.

‹yen›50 par common CHUGOKU BANK, LTD.

‹yen›50 par common CLARION CO., LTD.

‹yen›50 par common DAIHATSU MOTOR CO., LTD.

‹yen›50 par common DAINIPPON SCREEN MFG. CO., LTD.

‹yen›50 par common DAIWA KOSHO LEASE CO., LTD.

‹yen›50 par common DENKI KAGAKU KOGYO CO., LTD.

‹yen›50 par common EIGHTEENTH BANK, LTD.

‹yen›50 par common FUTABA CORP.

‹yen›50 par common FUTABA INDUSTRIAL CO., LTD.

‹yen›50 par common HIGO BANK, LTD.

‹yen›50 par common HITACHI CONSTRUCTION MACHINERY CO., LTD.

‹yen›50 par common HITACHI SOFTWARE ENGNEERING CO., LTD.

‹yen›50 par common HITACHI TRANSPORT SYSTEM, LTD.

‹yen›50 par common HOKKOKU BANK, LTD.

‹yen›50 par common HOKUETSU BANK, LTD

‹yen›50 par common HOKUETSU PAPER MILLS, LTD.

‹yen›50 par common IYO BANK, LTD.

‹yen›50 par common JACCS CO., LTD.

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‹yen›50 par common JAPAN AIRPORT TERMINAL CO., LTD.

‹yen›50 par common JAPAN SECURITIES FINANCE CO., LTD.

‹yen›50 par common JUROKU ANK, LTD

‹yen›50 par common KAGOSHIMA BANK, LTD.

‹yen›50 par common KAMIGUMI CO., LTD.

‹yen›50 par common KATOKICHI CO., LTD.

‹yen›50 par common KEISEI ELECTRIC RAILWAY CO., LTD.

‹yen›50 par common KEIYO BANK, LTD.

‹yen›50 par common KIYO BANK, LTD.

‹yen›50 par common KOMORI CORP.

‹yen›50 par common KONAMI CO., LTD.

‹yen›50 par common KYOWA EXEO CORP.

‹yen›50 par common MAEDA ROAD CONSTRUCTION CO., LTD.

‹yen›50 par common MATSUSHITA SEIKO CO., LTD.

‹yen›50 par common MAX CO., LTD.

‹yen›50 par common MICHINOKU BANK, LTD.

‹yen›50 par common MUSASHINO BANK, LTD.

‹yen›500 par common NAMCO, LTD.

‹yen›50 par common NICHICON CORP.

‹yen›50 par common NICHIMEN CORP.

‹yen›50 par common NIHON UNISYS, LTD.

‹yen›50 par common NIPPON COMSYS CORP.

‹yen›50 par common NIPPON TRUST BANK, LTD.

‹yen›50 par common NISHI-NIPPON BANK, LTD.

‹yen›50 par common NISHI-NIPPON RAILROAD CO., LTD.

‹yen›50 par common NISSAN CHEMICAL INDUSTRIES, LTD.

‹yen›50 par common OGAKI KYORITSU BANK, LTD.

‹yen›50 par common Q.P. CORP.

‹yen›50 par common RINNAI CORPORATION

‹yen›50 par common RYOSAN CO., LTD.

‹yen›50 par common SAGAMI RAILWAY CO., LTD.

‹yen›50 par common SAIBU GAS CO., LTD.

‹yen›50 par common SAKATA SEED CORP.

‹yen›50 par common SANKI ENGINEERING CO., LTD.

‹yen›50 par common SANTEN PHARMACEUTICAL CO., LTD.

‹yen›50 par common SHIMADZU CORP.

‹yen›50 par common SHIMAMURA CO., LTD.

‹yen›50 par common SUMITOMO RUBBER INDUSTRIES, LTD.

‹yen›50 par common SURUGA BANK, LTD.

‹yen›50 par common TAIYO YUDEN CO., LTD.

‹yen›50 par common TAKARA STANDARD CO., LTD.

‹yen›50 par common TAKASAGO THERMAL ENGINEERING CO.

‹yen›50 par common TAKUMA CO., LTD.

‹yen›50 par common TOHO BANK, LTC.

‹yen›50 par common TOHO GAS CO., LTD.

‹yen›50 par common TOKYO OHKA KOGYO CO., LTD.

‹yen›50 par common TOKYO TOMIN BANK, LTC.

‹yen›500 par common UNI-CHARM CORP.

‹yen›50 par common USHIO, INC.

‹yen›50 par common YAMAHA MOTOR CO., LTD.

‹yen›50 par common YODOGAWA STEEL WORKS, LTD.

‹yen›50 par common

List of Foreign Margin Stocks

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 20, 1999. Jennifer J. Johnson, Secretary of the Board.

[FR Doc. 99-22114Filed8-25-99; 8:45 am]

BILLING CODE 6210-01-P