This issue concerns the FERC Order on Credit Reform issued October 21, 2010. A compliance filing is required by PJM on June 30, 2011. Eight separate provisions are included in the order: A.Shortening the Settlement Cycle B.Use of Unsecured Credit a)Individual Market Participant Cap b)Aggregate Corporate Family Cap C.Elimination of Unsecured Credit for Financial Transmission Rights Markets D.Ability to Offset Market Obligations E.Minimum Criteria for Market Participation F.Use of “Material Adverse Change” G.Grace Period to “Cure” Collateral Posting H.General Applicability