Our interview this afternoon at the NY Fed regarding the retail swap study
lasted less than an hour.  For your information, I have attached the talking
points used at today's meeting.  Most of these points were covered in our
meeting.  We will provide further update on tomorrow's conference call.
Please do not hesitate to call if you have any questions.  -- Stacy

 <<Retail Swap Study Talking Points.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



 - Retail Swap Study Talking Points.doc