Credit update

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Description
Credit update. CWG activity over the last six months CWG activity for upcoming six months Upcoming BOD credit presentations CWG discussion re: guarantees. CWG activity over the last six months. Involved with OW project Provided input to RFP Scope of Work Provided feedback on respondents
Transcript
Credit update
  • CWG activity over the last six months
  • CWG activity for upcoming six months
  • Upcoming BOD credit presentations
  • CWG discussion re: guarantees
  • CWG activity over the last six months
  • Involved with OW project
  • Provided input to RFP Scope of Work
  • Provided feedback on respondents
  • Met for two full day sessions to review assumptions and provide input for modeling
  • Subgroup researched other risk mitigation measures
  • Updated Creditworthiness Standards
  • Updated CWG Charter
  • Reviewed PRRs and NPRRs for credit implications
  • CWG activity for upcoming six months
  • Election of new Chair and Vice Chair
  • Ongoing involvement in Oliver Wyman project
  • Review preliminary results in January – date TBD
  • Review Nodal credit requirements for CRRs in light of PJM event
  • Subgroup researching other risk mitigation measures - ongoing
  • Updated Creditworthiness Standards - ongoing
  • Upcoming BOD credit presentations
  • Jan 14th or Feb 18th – as part of BOD Nodal review, will discuss credit approach for Nodal
  • Feb 6th - F&A Committee to review OW results
  • Feb 19th - Expect to present OW results to full BOD at their meeting
  • CWG discussion re: guarantees
  • General consensus that
  • Some amount of discount should be applied to guarantees
  • Believe results of OW capital adequacy study would be helpful in determining “how much”
  • Guarantee form should
  • Allow an evergreen feature
  • Not preclude an “unlimited” guarantee
  • Discussed a requirement that all entities that have a parent entity should provide some level of guarantee above the EAL requirement
  • For “close out” costs
  • For potential future exposure
  • Related Search
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