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NPRR021
Summary
| Title | Reduce Timeline for Notice and Cure and Create a Working Credit Limit |
|---|---|
| Next Group | |
| Next Step | |
| Status | Rejected on 09/21/2006 |
Action
| Date | Gov Body | Action Taken | Next steps |
|---|---|---|---|
| 09/21/2006 | PRS | Rejected |
Background
| Status: | Rejected |
|---|---|
| Date Posted: | Aug 28, 2006 |
| Sponsor: | Credit Work Group |
| Urgent: | No |
| Sections: | 16.11.5, 16.11.6, 22H |
| Description: | Reduces time to post collateral from two Bank Business Days to one (exception: Municipalities, Electric Cooperatives, or an Entity created under Texas Water Code (TWC) §222.001, may continue to take two Bank Business Days to post collateral agreements). Creates a working credit limit which allows an entity to utilize up to 85% of posted collateral + unsecured credit limit (rather than 100%). Reduces time to cure a payment breach under QSE, LSE and TCR. |
| Reason: | This revision will further reduce credit exposure by reducing the time to cure a payment breach under Standard Form Market Participant Agreement. |
Key Documents
Aug 28, 2006 - doc - 142 KB
Sep 6, 2006 - doc - 48.5 KB
Sep 21, 2006 - xls - 117 KB
Sep 26, 2006 - doc - 128.5 KB