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

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