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Enron Mail |
Hi there,
Could you please print these for me? Thanks. FYI: I'm going to antitrust training from 230 to 430. Bet you are jealous. Kay ---------------------- Forwarded by Kay Mann/Corp/Enron on 08/11/2000 01:53 PM --------------------------- From: Gregg Penman 08/11/2000 10:22 AM To: Kay Mann/Corp/Enron@Enron cc: Subject: MEH Policies FYI -- Here is the e-mail we discussed regarding the most current versions of each policy. Gregg ---------------------- Forwarded by Gregg Penman/Corp/Enron on 08/11/2000 10:21 AM --------------------------- From: Gregg Penman 08/09/2000 05:23 PM To: j.pokorny@pecorp.com cc: Subject: MEH Policies Welcome back. I am sure you have been looking forward to getting all these documents, so here they are. Attached are the following: 1) Current draft of the MEH Risk Policy. Kay, Mary and I have discussed the current draft line by line and are at the point where your review is needed to proceed. Vlady has reviewed the current draft and has no significant changes. 2) Current draft of the Risk Procedures and Control Guidelines and accompanying flowcharts. Brent Price and his team have reviewed the Procedures and have provided revisions where appropriate. Linda and Mary have also provided input which has been incorporated. I need to circulate the draft to all parties one more time to make sure everyone is comfortable with the last updates and that there are no inconsistencies. 3) Current draft of the credit policy as last revised by Aparna. The draft was sent last night to Molly Harris at Enron for her review and I am currently waiting to hear from her. If there are any changes to this draft I will notify you promptly and forward the newest draft. 4) Current draft of the proposed cash management policy. Jim Burns has reviewed the proposed cash management policy and is in general agreement with the procedures. We will be drafting a Facility Agreement shortly which will cover the specifics of the Enron Revolver to MEH. As for reports and a general understanding of limit development, modeling, stress testing, etc., there have been several meetings over the last week. Brent Price and his team were in Chicago last week to go over the daily reports with Linda, Tim, Maria, Kay and Mary and discuss the development of the Daily Position Report (DPR). To my knowledge, the only outstanding report is the DPR. The DPR you received on Tuesday was not an MEH only DPR and was not scrubbed before it was sent out. It was intended to show the format, but they inadvertently pulled numbers into it. I am expecting that a scrubbed DPR will be sent out end of this week (Since the EMW and MEH books are currently "flat", the DPR will not show any open positions or VAR - we can discuss in more detail if you want). Regarding risk management methodologies, Mary has had discussions with Vlady and our research staff and I have received positive feedback regarding the sharing of information. I realize this is a large amount of information to digest, but I would like to get together as soon as you have a chance to review the policies and talk to Mary, Kay, Linda, etc. in order to come up with a list of any remaining issues. I acknowledge that this should and will be a evolutionary process, but I also want to have a clear direction of what is necessary to approve the policies. Just let me know when you are available and I will make myself available. Thanks, Gregg
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