Officializing Risk Books

---------------------- Forwarded by Irena D Hogan/HOU/ECT on 06/13/2000 08:31
AM ---------------------------

Brent A Price
06/13/2000 07:59 AM
To: Irena D Hogan/HOU/ECT@ECT
cc:
Subject: Officializing Risk Books

Irena - Please forward to all in Risk Management:

In the last few weeks there have been numerous occasions in which certain
risk books have not been officialized. Most of these instances have been due
to oversight; one instance was at the direction of Commercial.

I want to re-emphasise the importance of ensuring that all risk books are
officialized at the end of the day. This is the only mechanism we have to
ensure that all trading positions are included in the Daily Position Report
and daily trading limit calculations, both of which are reviewed by top Enron
management on a daily basis. This must be a top priority for Risk Management
and we need to do whatever we have to do to make sure we remember to perform
this function at the end of every day. Furthermore, it is totally
unacceptable for Commercial to direct any book administrator to not
officialize a risk book. If this occurs again and you are uncomfortable with
dealing with the situation, please inform your Desk Controller, Steve Jackson
or myself immediately and we will address the issue.

I realise every one of you has a lot on your plate and are working
significant hours to get your jobs done. However, let's do what we have to
do to make sure that this basic responsibility of Risk Management is
performed every day without any exceptions.

Brent