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Enron Mail |
Our review of the counterparty list is not considering, for the most part,
state of incorporation. The biggest consideration with derivatives is the country of incorporation (and additionally, the country(ies) in which trading will take place). For the bulk of our swap counterparties, i.e. energy companies, state law currently isn't an in issue on approval of swap trading. It is more of an issues with governmentals, utilities, insurance companies, pension funds and the like, and we do not capture that information until we are in active neogtiation with a counterparty. With utilities, you cannot make a general assumption that any particular state law that applies to one utility will apply to another. Each utility need to be looked at individually to see which state or federal law may apply to that counterparty. The bulk of you customer list is not financial counterparties we are in active negotiation with, so we are not capturing state of incorporation. I know the Global Contracts Group has been trying to capture that information. You may want to talk to Mary Gosnell.
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