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26 Berg, Jeff Matador Capital Management |
27 Berkery, Dan UBS Securities |
28 Besselman, Craig Strs. Ohio |
29 Beulieu, Mike Merrill Lynch Investment Management |
30 Bielawski, Ben Institutional Capital |
31 Boe, Rick Howard Hughes Medical Institute |
32 Boit, David Sextant |
33 Bolgert, Tom Amcore |
34 Bonnie, Pamela JK Utilities |
35 Boone, Kevin Bear Stearns & Company |
36 Boyd, Jim Harbor Capital Management |
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GOVERNMENT EXHIBIT |
4463 |
Crim No. H 04-0025 |
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Interoffice Memorandum |
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E ENRON |
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To: |
The Finance Committee of the Board of Directors |
From: |
Jeff Skilling and Rick Buy |
Department: |
Risk Assessment and Control |
Subject: |
Changes to the Risk Management Policy |
Date: |
December 11, 2000 |
I. We are recommending BOD approval of the following amendments to the Risk Management Policy: |
Note: Enron Corp. Aggregate VaR Limit - - - NO CHANGE REQUESTED - - - $100 MM |
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Permanent Limit increases to Permanent Commodity Groups within the Trading Portfolio: |
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Proposed Permanent Additional Discretionary Limits * Existing Permanent |
Pulp & Paper |
Net Open Position Limit 500,000 MT 300,000 MT |
Maturity / Gap Limit 500,000 MT 300,000 MT |
VaR Limit $5 MM $2 MM $3 MM |
North American Natural Gas |
Net Open Position Limit 500 Bcf 300 Bcf |
Maturity / Gap Limit 200 Bcf 3-month 350 Bcf 12-month |
VaR Limit $60 MM (no change) $60 MM |
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Permanent Limits requested for Commodity Groups under the Interim Policy: |
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Proposed Permanent Discretionary Limits * Existing Interim |
Lumber |
Net Open Position Limit 44 MM Board Feet 44 MM Board Feet ** |
Maturity / Gap Limit 44 MM Board Feet 44 MM Board Feet ** |
VaR Limit $0.5 MM $0.5 MM ** |
Steel |
Net Open Position Limit 1,500,000 MT 80,000 MT 100,000 MT |
Maturity / Gap Limit 2,500,000 MT 160,000 MT 200,000 MT |
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