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Enron Mail |
Cc: don@axiomsl.com
Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: don@axiomsl.com X-From: "Philip Merrill" <garpny1@home.com< X-To: "Vince Kaminski" <vkamins@enron.com< X-cc: "Donald Mumma" <don@axiomsl.com< X-bcc: X-Folder: \Vincent_Kaminski_Jun2001_5\Notes Folders\Credit X-Origin: Kaminski-V X-FileName: vkamins.nsf Vince I will make sure you get on this distribution list. Credit is going to be a big issue for energy companies and banks. We may need to form additional discussion groups. Volatility in energy prices and a general economic slowdown may cause an increase in defaults. Banks are primarily interested in regulatory impact on loan portfolio and credit derivatives as a an alternative to raising capital or selling assets. Energy companies could use credit derivatives to hedge or price credit exposure. Don Mumma(ex CSFB, MD Axiom Software)is organizing a survey of energy credit practices. You can reach Don at 212-248-4188 ext 22. Regards, Philip Merrill GARP Regional Director for New York 973-258-1540 -----Original Message----- From: Gerber, Jeannette [mailto:jeannette.gerber@csfb.com] Sent: Thursday, December 21, 2000 7:34 PM To: 'garpny1@home.com'; Alev A Suer; Amit Srivastav; Andrew Ulmer; CFA John P. Felletter; Claudia Cappelli; Francis Owusu; Gerber, Jeannette; Joe Pimbley; Joseph C Carrozzo Jr; Lingja Zhang; Marian Trano-Lepisto; Markus Buri; Maurizio Mondello; Nawal Roy; Sarnj. Dhanda; Yicheng Zhong; 'john.tierney@db.com'; 'tom_mansley@westlb.com' Subject: GARP NY - Minutes of the Credit Derivatives Meeting - December 13 , 2000 Dear members of the credit derivatives group. You've probably been wondering if I would ever get the minutes of last weeks meeting out. Well, here they are and I sincerely apologize for the delay. I always thought this time of year is supposed to be slow, but unfortunately, the opposite has been the case. Please pay particular attention to the action points. We can only handle these meetings successfully if each and everyone of you actively participates and plays a role! The next meeting can only be scheduled if there is enough feedback available. Wishing you happy holidays, Regards, Jeannette CREDIT | FIRST SUISSE | BOSTON CRM Credit Exposure Management (New York) < *: +1 (212) 325 9361 Fax: +1 (212) 743 2562 Minutes of the GARP NY Credit Derivatives Meeting - December 13,2000 The meeting was generously hosted by WestLB Attendees: Matthew Bianco Claudia Cappelli Joe Carrozzo Jeannette Gerber Tom Mansley Philip Merrill Joe Pimbley Marian Trano-Lepisto (due to some technical problems, not all attendees received the invitations on time.) Summary The aim of this first meeting was to decide on topics, people involvement and the format of future meetings. Topics The following topics were discussed for discussion in future meetings: * New models and structures available * practical work issues * credit risk policy * ISDA issues / documentation * regulatory issues / BIS capital * hedging issues (e.g. embedded options, rollover, funded vs unfunded, etc.) * electronic trading issues * general technology issues and information on new systems available * pricing differentials * pricing sources * current models used for pricing, VaR * credit event monitoring * counterparty suitability Action: all members to check with credit derivatives colleagues within their organization to go over the list and complete. Action: all members to pick topics they could lead through (or they could organize someone to lead through). People Involved The involvement will depend on the topic. A member of the group will lead through a meeting, or organize a credit derivative professional to lead through the meeting, depending on the topic. Meeting Format We expect a series of evening workshops to take place about every 6 weeks. In order to get active discussions going, all participants are expected to inquire within their own institutions as to how the particular subject under discussion is being treated in-house. We feel that the meetings will only be successful if all participants are actively involved in the process. We expect most members to be able to host the meeting once a year. Please let me know if and when you could host a meeting. Action: all members to check if and when they can host a meeting. The date and venue for the next meeting will be announced in early January, depending on your feedback on the topics. This message is for the named person's use only. It may contain confidential, proprietary or legally privileged information. No confidentiality or privilege is waived or lost by any mistransmission. If you receive this message in error, please immediately delete it and all copies of it from your system, destroy any hard copies of it and notify the sender. You must not, directly or indirectly, use, disclose, distribute, print, or copy any part of this message if you are not the intended recipient. CREDIT SUISSE GROUP and each of its subsidiaries each reserve the right to monitor all e-mail communications through its networks. Any views expressed in this message are those of the individual sender, except where the message states otherwise and the sender is authorised to state them to be the views of any such entity. Unless otherwise stated, any pricing information given in this message is indicative only, is subject to change and does not constitute an offer to deal at any price quoted. Any reference to the terms of executed transactions should be treated as preliminary only and subject to our formal written confirmation.
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