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Enron Mail |
We still do not have a good cash flow from ERMS. Several Books which were
changed on Friday did not get added back by Risk Controls in the clean-up process this morning, including the book, MAHII, which had the $650 milllion prepay. Sheila ---------------------- Forwarded by Sheila Glover/HOU/ECT on 28/08/2000 13:42 --------------------------- From: Sheila Glover 28/08/2000 11:34 To: Shona Wilson/NA/Enron@Enron, Brent A Price/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT cc: Michael E Moscoso/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Pushkar Shahi/HOU/ECT@ECT, Clara Carrington/HOU/ECT@ECT, David Port/Market Risk/Corp/Enron@ENRON, Samantha T Davidson/HOU/ECT@ECT, Joyce Kuo/NA/Enron@Enron Subject: Controls needed to ensure cashflows are received by Infinity Shona, Brent and Sally, This morning, the cash flows from approximately 75 books were not received by Infinity from the ERMS system. We normally get 375 books and only got 296 this morning. Per conversation with Joyce Kuo and Mike Moscoso, Susan Trevino, Risk Controls, and Christian, RAC, changed the book heirarchy on Friday, moving global products books, including the prepays, out of the ECT group and into another group. We have had discussions in the past verifying with Risk Controls that the ECT group is the only group which automatically sends its cash flows to Infinity. Other cash flows from books are included only by being listed in a script. This was not done when the books were moved from the ECT Group on Friday. Obviously, the Rate & Currency is not able to hedge Enron's cash flows when so much has been omitted. At this time we are about one hour away from a good Hedging report for the trading desk. This report is due the desk daily by 7:30 am. Mike and I discussed the need for controls and sign-off by him or Shona for changes in book heirarchy. Sheila
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