PRR683
| Title: |
Reduce Timeline for Notice and Cure and Create a Working Credit Limit
|
| Next Group: |
|
| Next Step: |
|
| Status: |
Rejected
on 09/21/2006
|
| Related Issue: |
NPRR021 |
| Date |
Gov Body |
Motion |
Result |
Against |
Abstentions |
|
09/21/2006
|
PRS
|
To reject PRR683.
|
Passed
|
2 Coop, MOU
|
4 IOU (2), Consumer, IPM
|
Vote tallies here reflect individual votes, not the weight of the votes by market segment. Affirmative votes are not recorded in these vote tallies. For additional details on the voting record, please consult the Recommendation or Action Report, or the official vote tally if available, as posted in the key documents.
| Status: |
Rejected
|
| Date Posted: |
08/16/2006
|
| Sponsor: |
Credit WG
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| Urgent: |
No
|
| Sections: |
22 Attachments B, C and H; 16.2.8, 16.2.9
|
| Description: |
â?? Reduces time to post collateral from two Bank Business Days to one
§ Exception: Municipalities and Electric Cooperatives may continue to take two Bank Business Days to post collateral
â?? Reduces time to cure a payment breach under QSE, LSE and TCR agreements from two Business Days to one Business Day
§ This requires all affected entities to sign new or amended agreements, which will not be fully complete until April 1, 2007. - Creates a working credit limit which allows an entity to utilize up to 85% of posted collateral + unsecured credit limit (rather than 100%)
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| Reason: |
This revision will further reduce credit exposure.
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(08/16/06, .doc, 115 KB)
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(08/28/06, .doc, 107.5 KB)
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(09/05/06, .doc, 60.5 KB)
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(09/06/06, .doc, 45 KB)
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(09/20/06, .DOC, 130 KB)
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(09/26/06, .doc, 103.5 KB)
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(09/21/06, .xls, 112.5 KB)
