In anticipation of tomorrow's conference call,  I am forwarding background
information on the proposed interim final rule regarding the application of
23A and 23B to derivative transactions with affiliates.  Included in the
attachment is the notice of the Fed Meeting next week and the US Code
citation granting authority for the rule.  Actual copies of the interim rule
will be made available at the public meeting on May 2, 2001.

Talk to you tomorrow!  Many thanks!

 <<Fed Regulations (23A-23B).doc>>

Stacy Carey
Policy Director
International Swaps and Derivatives Association
600 5th Avenue, 27th Floor
Rockefeller Center
New York, NY  10020
(212) 332-1202 ph
(212) 332-1212 fax
(917) 543-9622 cell
scarey@isda.org



 - Fed Regulations (23A-23B).doc