[Federal Register Volume 66, Number 165 (Friday, August 24, 2001)]
[Rules and Regulations]
[Pages 44525-44526]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 01-21359]
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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.
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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, 2001.
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, 2001 (66 FR 11101), and became effective March 1, 2001.
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.
There are no additions to the Foreign List. The following three
stocks are being removed because they no longer substantially meet the
provisions of Sec. 220.11(d) of Regulation T:
Hitachi Construction Machinery Co., Ltd.
50 par common
Nippon Trust Bank, Ltd.
50 par common
Tokyo Tomin Bank, Ltd.
500 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 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.
50 par common
Aomori Bank, Ltd.
50 par common
Asatsu-Dk Inc.
50 par common
Bandai Co., Ltd.
50 par common
Bank of Nagoya, Ltd.
50 par common
Chudenko Corp.
50 par common
Chugoku Bank, Ltd.
50 par common
Clarion Co., Ltd.
50 par common
Daihatsu Motor Co., Ltd.
50 par common
Dainippon Screen Mfg. Co., Ltd.
50 par common
Denki Kagaku Kogyo
50 par common
Eighteenth Bank, Ltd.
50 par common
Futaba Corp.
50 par common
Futaba Industrial Co., Ltd.
50 par common
Higo Bank, Ltd.
50 par common
Hitachi Software Engineering Co., Ltd.
50 par common
Hitachi Transport System, Ltd.
50 par common
Hokkoku Bank, Ltd.
50 par common
Hokuetsu Bank, Ltd.
50 par common
Hokuetsu Paper Mills, Ltd.
50 par common
Iyo Bank, Ltd.
50 par common
Japan Airport Terminal Co., Ltd.
50 par common
Juroku Bank, Ltd.
50 par common
Kagoshima Bank, Ltd.
50 par common
Kamigumi Co., Ltd.
50 par common
Katokichi Co., Ltd.
50 par common
Keisei Electric Railway Co., Ltd.
50 par common
Keiyo Bank, Ltd.
50 par common
Kiyo Bank, Ltd.
50 par common
Komori Corp.
50 par common
Konami Co., Ltd.
50 par common
Kyowa Exeo Corp.
50 par common
Matsushita Seiko Co., Ltd.
50 par common
Max Co., Ltd.
50 par common
Michinoku Bank, Ltd.
50 par common
Musashino Bank, Ltd.
500 par common
Namco, Ltd.
50 par common
Nichicon Corp.
[[Page 44526]]
50 par common
Nihon Unisys, Ltd.
50 par common
Nippon Comsys Corp.
50 par common
Nishi-Nippon Bank, Ltd.
50 par common
Nishi-Nippon Railroad Co., Ltd.
50 par common
Nissan Chemical Industries, Ltd.
50 par common
Ogaki Kyoritsu Bank, Ltd.
50 par common
Q.P. Corp.
50 par common
Rinnai Corporation
50 par common
Ryosan Co., Ltd.
50 par common
Sagami Railway Co., Ltd.
50 par common
Sakata Seed Corp.
50 par common
Santen Pharmaceutical Co., Ltd.
50 par common
Shimadzu Corp.
50 par common
Shimamura Co., Ltd.
50 par common
Sumitomo Rubber Industries, Ltd.
50 par common
Taiyo Yuden Co., Ltd.
50 par common
Takara Standard Co., Ltd.
50 par common
Takuma Co., Ltd.
50 par common
Toho Bank, Ltd.
50 par common
Toho Gas Co., Ltd.
50 par common
Tokyo Ohka Kogyo Co., Ltd.
50 par common
Uni-Charm Corp.
50 par common
Ushio, Inc.
50 par common
Yamaha Motor Co., Ltd.
50 par common
Yamanashi Chua Bank, Ltd.
50 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 20, 2001.
Jennifer J. Johnson,
Secretary of the Board.
[FR Doc. 01-21359 Filed 8-23-01; 8:45 am]
BILLING CODE 6210-01-P