Please note that the next meeting of the Master Agreement Structural Issues
Working Group will take place at ISDA's European office in London on Monday,
18th June at 4.00 p.m., London time (11 a.m., New York time).  Telephone
conference facilities will be provided for those who cannot attend the
meeting (details to be circulated in due course) but, as always, attendance
in person is encouraged.

The purpose of the meeting will be to try to finalise the terms of the
Bridge that takes an "agreement" (rather than a "transaction") approach.

I attach both a clean and a marked-up version of the latest draft of the
Bridge, together with some slides I used at a recent meeting of ISDA's
European Energy and Developing Products Committee, and the minutes for that
meeting.

Please let my secretary, Anna Elia (aelia@isda-eur.org
<mailto:aelia@isda-eur.org> ), know if you plan to attend the meeting.

Kind regards,
John.

 <<Cross-Agreement bridge4.doc>>  <<Cross-Agreement bridge3.doc>>  <<ISDA
Bridge Presentation.ppt>>  <<Cross-Agreement Bridge memo.doc>>

John Berry
International Swaps and Derivatives Association, Inc.
One New Change, London, EC4M 9QQ
Tel: +44 20 7330 3550
Fax: +44 20 7330 3555
e-mail: jberry@isda-eur.org
http://www.isda.org


  -----Original Message-----
  From: John Berry
  Sent: 20 March, 2001 17:08
  To: Cynthia Richards; Angela Papesch (Asia-Pacific
Office); beat.gabathuler@zkb.ch;
charles.ross-stewart@ib.bankgesellschaft.de; David Benton; David Wysoki;
ernst.decker@bhf-bank.com; fcaputo@bci.it; gabriel.benincasa@msdw.com;
harvey@sbcm.com; John Berry; Kimberly Summe; lewis_david@jpmorgan.com; Mark
Taylor; Richard Tredgett; Robert Pickel; svenokur@lehman.com
  Subject: RE: Master Agreement Structural Issues
Working Group Meeting, Wednesd ay, March 21 at 9:00 a.m. (NY time)  2:00
p.m. (London time)

  Please find attached a slightly revised (by Joe Carrico)
draft of the ISDA/GMRA Insolvency Bridge, which takes the approach, if a
Bankruptcy Event of Default occurs, of deeming relevant repo transactions to
be Transactions under the ISDA Master Agreement.  While we wish to focus our
discussion tomorrow on the draft "Cross-Agreement Bridge", we would be happy
to hear some further discussion on this type of approach.


   << File: GMRA insolvency bridge-20March01.doc >>


  John Berry
  International Swaps and Derivatives Association, Inc.
  One New Change, London, EC4M 9QQ
  Tel: +44 20 7330 3550
  Fax: +44 20 7330 3555
  e-mail: jberry@isda-eur.org
  http://www.isda.org


    -----Original Message-----
    From: Cynthia Richards
[mailto:CRICHARDS@isda.org]
    Sent: 19 March, 2001 20:28
    To: Angela Papesch;
beat.gabathuler@zkb.ch; charles.ross-stewart@ib.bankgesellschaft.de; David
Benton; David Wysoki; ernst.decker@bhf-bank.com; fcaputo@bci.it;
gabriel.benincasa@msdw.com; harvey@sbcm.com; John Berry; Kimberly Summe;
lewis_david@jpmorgan.com; Mark Taylor; Richard Tredgett; Robert Pickel;
svenokur@lehman.com
    Subject: Master Agreement Structural
Issues Working Group Meeting, Wednesd ay, March 21 at 9:00 a.m. (NY time)
2:00 p.m. (London time)


    In reference to the above mentioned subject,
for those who cannot attend
    this meeting in person please note the call
in information:

    International call  865 544 0268

    Domestic call    800 680 2473

    Participation Code  409 685

    Host Code  311 114

 - Cross-Agreement bridge4.doc
 - Cross-Agreement bridge3.doc
 - ISDA Bridge Presentation.ppt
 - Cross-Agreement Bridge memo.doc