FYI..

---------------------- Forwarded by Sheila Glover/HOU/ECT on 07/21/2000 04:44 
PM ---------------------------
   
	
	
	From:  Sheila Glover                           07/21/2000 04:48 PM
	

To: Jeff Kinneman/HOU/ECT@ECT, Bryan Seyfried/LON/ECT@ECT
cc: David A Wall/Risk Mgmt/LON/ECT@ECT, Theresa T Brogan/HOU/ECT@ECT, Laurel 
Adams/HOU/ECT@ECT, Samantha T Davidson/HOU/ECT@ECT 
Subject: De-brief of J. Kinneman's London week

Jeff, Bryan,
Laurel, Theresa and I met with Jeff yesterday as a follow-up to his week in 
London.  

The following discussions/items came out of our discussion:  This is meant to 
be a DISCUSSION list to move things forward as quickly as possible.

FOR ENRON CREDIT.COM ACTIVITY 
Enron Credit.com will be trading utilizing the legal entity of Enron North 
America for 3rd partiy transactions.
 We need a listing of authorized traders for both Enron Credit.com (uk legal 
entity) and ENA (us legal entity)
The listing gets signed off by Risk Controls and Legal. The authorized list 
is then distributed to brokers.   I will facilitate the process for the ENA 
side to get included.
 The inclusion of instruments is appropriate.

Confirmation Process for ENA:
 Laurel Adams will work with London to set up a checklist of the information, 
review and related documentation required for ENA confirmations.
Laurel will receive and file on behalf of ENA.  Otherwise all work and review 
will occur in London for these Enron Credit.com trades which utilitze
  ENA as the entity.
Timeliness of confirmations:  ENA policy is 24 hr turnaround and 3-4 days for 
more ad-hoc confirms.  

Settlements for Bonds transacted for Enron Credit.com:
 Houston will settle bond activity.  
 All Risk Managment reporting and Accounting will be the responsibility of 
Enron Credit.com.  

Accounting
 Enron Credit.com will provide to ENA, Financial Operations,  the necessary 
entries for General Ledger booking

Funding
 For the ENA account at the Prime Broker, we will obtain Funding from 
Corporate.  The charges for the funding, 6.5%, will be passed to the ENA 
 General Ledger account for Enron Credit.com's ENA activity.  I will talk to 
Financial Operations to facilitate.

Prime Broker Account
We can use an existing ENA account for ENA activity. 
We will request Sara to work with Paul Simons to get a Morgan Stanley prime 
broker account opened in the name of Enron Credit.com for trading done in 
Enron Credit.com's name. Funding will be provided by Enron Credit.com.

FOR  PROPRIETARY DEBT TRADING FROM HOUSTON (in ECT Investments or ENA legal 
entity)

Operations and Acounting
Houston Energy Operations to maintain operations for Debt and Convertible 
Books. Trading may open up another book for Enron Credit. com related 
activity executed in Houston.
 
Reporting 
 Daily P&L being provided to Enron Europe by 10:00 am (CST) for J. Sherriff 
reporting
 Daily P&L, final, sent to Enron Europe and Risk Controls and Reporting 
(Houston)  by 12:00 (CST)

Thanks. Sheila