Fed Adds 175 Stocks To Its Margin List, Drops 53 Other Issues
WASHINGTON -- The Federal Reserve Board added 175 stocks to the list of over-the-counter securities falling under the board's margin, or credit, rules.</br></br>The stocks include 149 securities added automatically because they have qualified for trading on the National Market System of the National Association of Securities Dealers Automated Quotation System, and 26 more that otherwise met the board's criteria for listing.</br></br>The Fed also removed 20 stocks for failing to meet the listing requirements, and 33 others for such reasons as listing on a national securities exchange or being acquired by another company.</br></br>The Fed's new list of 2,406 stocks will take effect May 14. The Fed revises its over-the-counter list several times a year, and the next publication is scheduled for August.</br></br>Under the Fed's margin requirements, anyone buying a stock on credit must make a cash down payment, currently at least 50% of the stock's purchase price. The same rule applies to stocks listed on national exchanges.