Thank you all for being so patient with me while I am under Carla's wise tutelage. Hopefully I'll be up to speed in the next few days, but if you notice me doing anything insanely wrong, don't hesitate to yell. One thing that has lagged slightly, but will be making a comeback tomorrow, is the Deal Correction Report. Every afternoon I'll check up on discrepancies noted by Houston and determine the source of the error. If the source of the error is you, me, the broker, or the computer gods, it will be noted in the error report and given to Risk Management to assist them in their daily calculation. Thanks again,
Answer: Deal Correction Report - Please Read
Clement: We are trying to finalize our ISDA with Deutsche Bank. In the Guaranty where we have the setoff and counterclaim language they want to add a proviso that basically states that Enron Corp. would be entitled to get the benefit of the rights, setoffs, counterclaims and other defenses that ENA is entitled to only to the extent taht it would have had the benefit of those rights if it were the direct counterparty. I think that I am okay with this but wanted your input. Let me know what you think. Thanks. carol
Answer: Guaranty Issue
Ed: For purposes of this "omnibus" Transaction, Con Ed requests cross-default to ENA's guarantor and elimination of setoff for the non-defaulting party's affiliates. Samantha needs a worksheet for the Transaction before she can prepare Annex B and B-1. We're sending tonight together with the ISDA Schedule and CSA. Sam: We need to use the same carve-out for setoff in Annex B-1 as in the Schedule. Sara
Answer: Consolidated Edison Company of New York, Inc.
Due to current circumstances, until further notice all curves need to be marked by 12:30 pm and the Risk Management group will begin all calculations by 1:15 pm Pacific time. We will try to work with all of you the best we can, but please understand that it will be on a case by case basis. We have been asked to ensure that we meet these deadlines as often as possible. If you have any questions or concerns regarding these times please let me know. John
Answer:
Risk book calculations