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PRR683

Summary

Title Reduce Timeline for Notice and Cure and Create a Working Credit Limit
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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 PRR683. Passed

Background

Status: Rejected
Date Posted: Aug 16, 2006
Sponsor: Credit WG
Urgent: No
Sections: 22 Attachments B, C and H; 16.2.8, 16.2.9
Description: “ Reduces time to post collateral from two Bank Business Days to one - Creates a working credit limit which allows an entity to utilize up to 85% of posted collateral + unsecured credit limit (rather than 100
Reason: This revision will further reduce credit exposure.

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