Subject: fw : garp ny - minutes of the credit derivatives meeting - december
13 , 2000
vince
i will make sure you get on this distribution list .
credit is going to be a big issue for energy companies and banks .
we may need to form additional discussion groups .
volatility in energy prices and a general economic slowdown may cause an
increase in defaults .
banks are primarily interested in regulatory impact on loan portfolio and
credit derivatives as a an alternative to raising capital or selling assets .
energy companies could use credit derivatives to hedge or price credit
exposure .
don mumma ( ex csfb , md axiom software ) is organizing a survey of energy credit
practices . you can reach don at 212 - 248 - 4188 ext 22 .
regards ,
philip merrill
garp regional director for new york
973 - 258 - 1540
- - - - - original message - - - - -
from : gerber , jeannette [ mailto : jeannette . gerber @ csfb . com ]
sent : thursday , december 21 , 2000 7 : 34 pm
to : ' garpnyl @ home . com ' ; alev a suer ; amit srivastav ; andrew ulmer ; cfa
john p . felletter ; claudia cappelli ; francis owusu ; gerber , jeannette ;
joe pimbley ; joseph c carrozzo jr ; lingja zhang ; marian trano - lepisto ;
markus buri ; maurizio mondello ; nawal roy ; sarnj . dhanda ; yicheng zhong ;
' john . tierney @ db . com ' ; ' tom _ mansley @ westlb . com '
subject : garp ny - minutes of the credit derivatives meeting - december
13 , 2000
dear members of the credit derivatives group .
you ' ve probably been wondering if i would ever get the minutes of last weeks
meeting out . well , here they are and i sincerely apologize for the delay . i
always thought this time of year is supposed to be slow , but unfortunately ,
the opposite has been the case .
please pay particular attention to the action points . we can only handle
these meetings successfully if each and everyone of you actively
participates and plays a role ! the next meeting can only be scheduled if
there is enough feedback available .
wishing you happy holidays ,
regards ,
jeannette
credit | first
suisse | boston
crm credit exposure management ( new york )
> * : + 1 ( 212 ) 325 9361
fax : + 1 ( 212 ) 743 2562
minutes of the garp ny credit derivatives meeting - december 13 , 2000
the meeting was generously hosted by westlb
attendees :
matthew bianco
claudia cappelli
joe carrozzo
jeannette gerber
tom mansley
philip merrill
joe pimbley
marian trano - lepisto
( due to some technical problems , not all attendees received the invitations
on time . )
summary
the aim of this first meeting was to decide on topics , people involvement
and the format of future meetings .
topics
the following topics were discussed for discussion in future meetings :
* new models and structures available
* practical work issues
* credit risk policy
* isda issues / documentation
* regulatory issues / bis capital
* hedging issues ( e . g . embedded options , rollover , funded vs unfunded ,
etc . )
* electronic trading issues
* general technology issues and information on new systems available
* pricing differentials
* pricing sources
* current models used for pricing , var
* credit event monitoring
* counterparty suitability
action : all members to check with credit derivatives colleagues within their
organization to go over the list and complete .
action : all members to pick topics they could lead through ( or they could
organize someone to lead through ) .
people involved
the involvement will depend on the topic . a member of the group will lead
through a meeting , or organize a credit derivative professional to lead
through the meeting , depending on the topic .
meeting format
we expect a series of evening workshops to take place about every 6 weeks .
in order to get active discussions going , all participants are expected to
inquire within their own institutions as to how the particular subject under
discussion is being treated in - house . we feel that the meetings will only be
successful if all participants are actively involved in the process .
we expect most members to be able to host the meeting once a year . please
let me know if and when you could host a meeting .
action : all members to check if and when they can host a meeting .
the date and venue for the next meeting will be announced in early january ,
depending on your feedback on the topics .
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