Subject: New EBS Procedures for Risk Management Books
From: [email-masked]
To: [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked]
Cc: [email-masked], [email-masked], [email-masked], [email-masked], [email-masked], [email-masked]
Date: Tue, 13 Nov 2001 08:59:41 -0800 (PST)

Good morning-

Discussions have taken place between EBS (Barry Pearce) and RAC (David Port) to make adjustments to the EBS daily risk-reporting process.  This memo will outline the changes that have been discussed and agreed upon.  EBS will implement these changes this week.

DPR 

All risk books will be run on Tuesday and Thursday of each week and P&L will be reported for those days.  

POSITIONS AND CURVES

Pending an IT solution, positions and curves will be loaded each day.  On days when the books are not run, we will use prior day information.  Per discussions with Credit, this process is sufficient for counterparty exposure reporting.

CASH FLOWS

Cash flows will be loaded on days the books are run.  Infinity will pick up prior information on days when books are not run.

_____________________

EBS will agree to run books on days when significant changes occur or we are at month-end.  

Please do not hesitate to call with questions or comments.

Thank you,

Gary
X35502