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NPRR241
Summary
Title | Aggregate Incremental Liability (AIL) Calculation and Credit Reports Publish Corrections |
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Next Group | |
Next Step | |
Status | Approved on 09/21/2010 |
Effective Dates |
12/01/2010
All sections except for Section 16.11.4.7(3) |
Action
Date | Gov Body | Action Taken | Next Steps |
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09/21/2010 | BOARD | Approved | |
09/02/2010 | TAC | Recommended for Approval | BOD consideration |
08/19/2010 | PRS | Recommended for Approval | TAC consideration |
07/22/2010 | PRS | Recommended for Approval | PRS consider the Recommendation Report and Impact Analysis |
06/17/2010 | PRS | Referred | WMS consideration |
Voting Record
Date | Gov Body | Motion | Result |
---|---|---|---|
09/21/2010 | BOARD | Passed | |
09/02/2010 | TAC | To recommend approval of NPRR241 as recommended by PRS in the 8/19/10 PRS Report with a recommended priority of Medium for the proposed grey-box language. | Passed |
08/19/2010 | PRS | To endorse and forward the 7/22/10 PRS Report with a recommended priority of Medium for the proposed grey-box language and Impact Analysis for NPRR241 to TAC. | Passed |
07/22/2010 | PRS | To recommend approval of NPRR241 as amended by the 7/21/10 WMS comments and as revised by PRS. | Passed |
06/17/2010 | PRS | To refer NPRR241 to WMS | Passed |
Background
Status: | Approved |
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Date Posted: | May 26, 2010 |
Sponsor: | Vanessa Spells, Credit Manager |
Urgent: | No |
Sections: | 16.11.4.4, Determination of Counter-Party Aggregate Incremental Liability 16.11.4.7, Credit Monitoring and Management Reports |
Description: | This Nodal Protocol Revision Request (NPRR): 1. Updates AIL calculation to reflect Max (Average Daily Transaction Extrapolated (ADTE) during the previous 60-day period) instead of ADTE to match Estimated Aggregate Liability (EAL) calculation. 2. Removes Flowgate Rights-related Credit Monitoring and Management Reports. 3. Corrects Credit Monitoring and Management Reports format from Extensible Markup Language (XML) to Microsoft Excel (XLS) format. 4. Updates the posting requirements of Future Credit Exposure (FCE) Details Reports. |
Reason: | 1. The AIL is intended to calculate the incremental liability incurred by a Counter-Party based on more recent estimates to the extent that the EAL fails to account for such liability. Specifically, the AIL determines the amount by which the Real-Time Liability (RTL) estimate exceeds the corresponding liability calculated by the EAL for a comparable period. Currently, the formula prescribed in the Nodal Protocols compares the RTL with the ADTE. However, since the EAL calculation uses the Max (ADTE during the previous 60-day period) and not simply the ADTE, the change is needed to reflect the actual incremental liability. 2. Based on recently approved revisions to Nodal Protocol Section 7.3.1.2, Defined Flowgates, there are currently no defined flowgates. Hence the Credit Monitoring and Management Reports related to flowgates are being removed from the list. 3. Credit Monitoring and Management Reports format was incorrectly listed as XML where as it is actually supposed to be Microsoft XLS format. The FCE Details Reports are large and resulting into system constraints to generate them in time for posting. |
Key Documents
May 27, 2010 - doc - 85.5 KB
May 27, 2010 - doc - 67 KB
May 27, 2010 - doc - 43.5 KB
Jun 22, 2010 - doc - 93 KB
Jul 20, 2010 - doc - 44.5 KB
Jul 21, 2010 - doc - 46.5 KB
Jul 27, 2010 - doc - 98.5 KB
Aug 23, 2010 - doc - 100.5 KB
Aug 26, 2010 - doc - 48 KB
Aug 26, 2010 - doc - 69 KB
Sep 7, 2010 - doc - 103.5 KB
Sep 21, 2010 - doc - 105 KB
Jun 7, 2011 - doc - 63.5 KB
Jun 23, 2011 - xls - 183 KB
Jun 29, 2011 - doc - 63.5 KB
Jul 11, 2011 - doc - 65.5 KB
Sep 2, 2011 - doc - 66.5 KB
Sep 21, 2011 - doc - 66 KB