---------------------- Forwarded by Robin Rodrigue/HOU/ECT on 11/18/2000 
04:58 PM ---------------------------
   
	Enron North America Corp.
	
	From:  Frank Hayden @ ENRON                           11/18/2000 04:53 PM
	

To: John J Lavorato/Corp/Enron@Enron, Robin Rodrigue/HOU/ECT@ECT, Bilal 
Bajwa/NA/Enron@Enron
cc: Brian Gillis/CAL/ECT@ECT, Ganapathy Ramesh/HOU/ECT@ECT, Chris 
Abel/HOU/ECT@ECT, Vladimir Gorny/HOU/ECT@ECT 
Subject: Canadian VaR


I spoke with Bilal.  It is our understanding that the morning VaR report 
regarding Canada represents how we are capturing positions right now.  We are 
currently decomposing/reconstructing Disturnal's book to capture by region 
code (overall positions would remain the same).  This would impact Disturnal 
positions which will be moved to either McKay or Lambie.   From our side we 
are waiting on  the  IT resolution..  We have set a deadline of the last week 
in November to get this in motion.   On Monday, Bilal will give you a detail 
breakout of the deadline for Canada.

Regarding the the Canadian P&L report, I left a message for Gillis to get the 
numbers out there.

Additionally, last week we resolved the Canadian derived curve problem 
(derived curves were improperly mapped and position was not be captured....)  
We re-ran VaR and the e-mail below summarizes the breakout.  Overall, desk 
VaR decreased because Canadian VaR increased (hedges out portfilio).

Hope this gives you an idea of our progress.
Frank
PS. We will be moving Enovate out of Hunter Shively's VaR and give it is own 
place on the bench. This will probably impact the Central Desk VaR by approx. 
200K



Bilal Bajwa@ECT
11/17/2000 06:43 PM
To: Frank Hayden/Corp/Enron@Enron, Vladimir Gorny/HOU/ECT@ECT, Susan D 
Trevino/HOU/ECT@ECT, Chris Abel/HOU/ECT@ECT, Burton McIntyre/HOU/ECT@ECT, 
Ganapathy Ramesh/HOU/ECT@ECT
cc:  

Subject: VAR change!

Below is the new var after the derived curve/primary-secondary mapping issue 
in RisktRac was resolved. 



EFF_DT PORTFOLIO_ID DOWN95     NEW VAR
11/16/2000 CANADA  7,411,853.    10,723,189
11/16/2000 AGG-GASIV  36,777,800.    30,861,483
11/16/2000 AGG-GASIII  36,777,800.    -30,861,483
11/16/2000 AGG-GAS  37,015,232.    -31,053,419.



EFF_DT PORTFOLIO_ID NEW  OLD
11/16/00 LAVORATO-FIN -36,060,600. -36,060,600.
11/16/00 LAVORATO-TEXAS -6,716,337. -6716337.
11/16/00 LAVORATO-CND -10,455,397. -7,411,853.
11/16/00 LAVORATO-CNT -7,823,233. -7,479,112.
11/16/00 LAVORATO-WEST -29,332,789. -29,332,789.
11/16/00 LAVORATO-EAST -14,962,485. -14,962,485


Bilal