Subject: Re: RBC Commodity Swap
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked]
Date: Wed, 27 Dec 2000 01:08:00 -0800 (PST)

Friday,  11/22/00 was an Exchange holiday.  "Preceding" is fine as the 
business day convention as long as the change is made in all of the relevant 
swaps.  SS

	Greg Johnston
	12/27/2000 09:00 AM
		 
		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Tana Jones/HOU/ECT@ECT
		 Subject: RBC Commodity Swap

Sara, I assume that the below is okay.  Can you let me know if you have dealt 
with this, as I have been out of the office until today.

Thanks

Greg
---------------------- Forwarded by Greg Johnston/CAL/ECT on 12/27/2000 07:58 
AM ---------------------------

"Ross, Tracy " <[email-masked]> on 12/22/2000 08:30:36 AM
To: "[email-masked]'" <[email-masked]>, 
"[email-masked]'" <[email-masked]>, "[email-masked]'" 
<[email-masked]>
cc:  
Subject: RBC Commodity Swap

I am not sure which of you handles the commodity swaps so I am sending this 
to all of you.? The final Pricing Date for the Commodity Swap (your reference 
Q19197) is today and we noticed a discrepancy in the swap we have with you 
and the one with Chase.? In our Chase swap we specified that the Pricing 
Dates for Floating Price are each Friday in the Calculation Period subject to 
adjustment in accordance with the Preceding Business Day Convention.? No 
Business Day Convention was specified in the swap we have with you and it 
will be an issue as US Thanksgiving in November was on a Friday.? Since the 
Floating Payments we make to Chase (which flow back to you) need to match the 
payments you give to us, we need to amend our swap with you to specify 
Preceding Business Day Convention.? Can you let me know if this is acceptable 
and I will prepare an amendment or please call me to discuss.

Thanks 

Tracy Ross, Counsel, Royal Bank of Canada
Phone: 416-974-5503; Fax: 416-974-2217
File - SW Enron 

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