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As of this week EnronOnline has just started offering US/Canadian Dollar Swaps Online. As part of my review in determining whether a counterparty can transact these products online I look at the Financial Trading Agreement Database to see if there are any restrictions indicated, check the master swap agreement, and I am also looking at any Board Resolutions we might have received when we got the master agreement executed. What I am finding is that in the old days when we asked for resolutions evidencing the authority to enter into the master agreement/derivative transactions frequently the resolutions do not allow the counterparies to enter into currency transactions. Since transacting these currency transactions with our energy customers is a new area of business for us I just wanted us all to be mindful to check these old resolutions and not to rely solely on the "Restrictions" contained in Lotus Notes.

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US/Canadian Currency Swaps Online