MIS LOG IN

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

Voting Record

Date Gov Body Motion Result
09/21/2006 PRS To reject NPRR021. Passed

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.

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

Related Content