1.

a.  Call to order Executive Session

C. Karnei

12:00pm

b.  Announce proxies

C. Karnei

12:00pm

c.  Approve executive session minutes (2/14/11)

C. Karnei

12:01pm

2.

a.  Internal Audit status report

B. Wullenjohn

12:02pm

b.  Discussion of Internal Audit goals for 2011

B. Wullenjohn

12:05pm

c.  Review Internal Audit Department Charter

B. Wullenjohn

12:15pm

d.  EthicsPoint update

B. Wullenjohn

12:20pm

e.  Chief Audit Executive Compensation

T. Doggett

12:30pm

3.

Personnel, Contract, Security, Compliance and Risk Management Matters

C. Karnei

12:40pm

Recess Executive Session

Convene General Session

4.

Approve general session minutes (2/14/11)

C. Karnei

1:05pm

5.

Committee approval of Internal Audit Department Charter

C. Karnei

1:06pm

6.

Review and recommend Board approval of the Finance and Audit Committee Charter

C. Karnei

1:10pm

7.

Review and recommend Board acceptance of SAS 70 Type I Audit Report

C. Moseley

1:15pm

8.

Annual review and recommendation of Board approval of

1:25pm

(a) Investment Corporate Standard

C. Yager

(b) Financial Corporate Standard

L. Swanson

9.

Annual review and recommendation of Board approval of Market Credit Risk Corporate Standard

C. Yager

1:35pm

10.

Committee approval of Credit Work Group Charter

T. Nikazm

1:50pm

11.

Discuss Credit management practices and judgments

C. Yager   /      M. Ruane

2:00pm

(a)  Specifically relating to the events of 02/02/2011

(b) Generally

12.

Periodic review of liquidity report

C. Yager

2:25pm

13.

Review Committee briefs

M. Petterson

2:35pm

14.

Future agenda items

M. Petterson

2:55pm

15.

Other business

M. Petterson

2:58pm

Adjourn meeting

C. Karnei

3:00pm