Interest Rate Derivatives Development and Their Impact on Bond Markets, 1980–2000

1. Monetary Control Act deregulates deposit rates

   Mar 31, 1980Labels: Monetary Control, Regulation Q

   • Fed History

2. Eurodollar futures launch on the CME

   Dec 9, 1981Labels: Eurodollar futures, CME

   • CME Dates
   • CME Release

3. 10-year Treasury note futures begin trading

   May 3, 1982Labels: 10-year futures, U S

   • CME Dates

4. Options on Treasury bond futures are introduced

   Oct 1, 1982Labels: Options on, Treasury bond

   • CME Dates
   • ScienceDirect

5. ISDA is formed to standardize OTC swaps

   Jan 1, 1985Labels: ISDA, OTC swaps

   • ISDA
   • ISDA Wiki

6. 5-year Treasury note futures are launched

   May 20, 1988Labels: 5-year futures, Treasury futures

   • CME Dates

7. 2-year Treasury note futures begin trading

   Jun 22, 1990Labels: 2-year futures, Treasury futures

   • CME Dates

8. ISDA publishes the 1992 Master Agreement

   Jan 1, 1992Labels: ISDA Master, ISDA

   • ISDA Master
   • ISDA Wiki

9. Orange County bankruptcy exposes leveraged rate bets

   Dec 6, 1994Labels: Orange County, Municipal bankruptcy

   • SEC Testimony
   • Justia Case

10. U.S. regulators recognize netting for swap capital

    Dec 7, 1994Labels: U S, Netting rules

    • NY Fed Speech

11. Barings collapse highlights derivatives control failures

    Feb 27, 1995Labels: Barings Bank, Derivatives loss

    • Britannica
    • RBA Bulletin

12. Basel Market Risk Amendment enables model-based capital

    Jan 1, 1996Labels: Basel Committee, Market Risk

    • BIS Basel

13. First U.S. TIPS auction creates real-rate benchmark

    Jan 29, 1997Labels: TIPS, U S

    • TreasuryDirect
    • Press Release

14. ISDAFIX begins standard swap-rate fixing

    Jan 1, 1998Labels: ISDAfix, Swap benchmark

    • ISDAFIX Wiki

15. Treasury starts 30-year TIPS, broadening real yield curve

    Apr 1, 1998Labels: 30-year TIPS, U S

    • TreasuryDirect

16. LTCM rescue underscores systemic bond-derivatives links

    Sep 23, 1998Labels: LTCM, Market rescue

    • Fed History
    • Fed Testimony

17. CME launches Euroyen LIBOR futures

    Apr 1, 1999Labels: Euroyen futures, CME

    • CME Dates

18. Agency note futures add hedges for mortgage-linked markets

    Mar 14, 2000Labels: Agency note, CME

    • CME Dates