Message-ID: <30444152.1075859636748.JavaMail.evans@thyme> Date: Wed, 13 Dec 2000 03:42:00 -0800 (PST) From: michael.garberding@enron.com To: jeffrey.hodge@enron.com Subject: Prepay Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Michael Garberding X-To: Jeffrey T Hodge X-cc: X-bcc: X-Folder: \Jeff_Hodge_Dec2000\Notes Folders\All documents X-Origin: Hodge-J X-FileName: jhodge.nsf Jeff, I spoke with Bill B in credit this morning - currently, his main concern with Stoneville is the collateral issue. We had assumed that Stoneville will have no credit line and all potential mark-to-market changes would be taken care of through rehypothecation (just like Chase). However, we need to address the credit risk of Stoneville between when the margin call occurs and when the rehypothecation occurs. He was also concerned where these rehypothecation procedures would be documented. Let me know, but as I understand it, the Chase agreement should be a good format for this master agreement. Thanks. Michael