The Long-Term Capital Management Crisis and Its Effects on OTC Derivatives (1998-2002)

1. Leverage and OTC derivatives expand in mid-1990s

   Jan 1, 1994Labels: OTC derivatives, Hedge funds

   • Fed History
   • Greenspan

2. U.S. regulators debate OTC derivatives oversight

   Jul 30, 1998Labels: U S, SEC Arthur

   • SEC Testimony

3. LTCM nears collapse after market turmoil

   Sep 1, 1998Labels: Long-Term Capital, Liquidity crisis

   • Fed History

4. New York Fed brokers private LTCM recapitalization

   Sep 23, 1998Labels: New York, Bank consortium

   • Fed History
   • FCIC Draft

5. FOMC cuts rates amid global market strains

   Sep 29, 1998Labels: FOMC, Federal Reserve

   • Fed Release

6. Fed makes additional 1998 rate cuts

   Nov 17, 1998Labels: Federal Reserve, Monetary policy

   • Fed Release

7. ISDA standardizes credit derivatives documentation

   Jan 1, 1999Labels: ISDA, Credit derivatives

   • ISDA 1999

8. Basel Committee issues HLI sound practices

   Jan 28, 1999Labels: Basel Committee, HLIs guidance

   • BCBS 46
   • OCC Release

9. President’s Working Group publishes LTCM lessons report

   Apr 28, 1999Labels: President s, Hedge funds

   • PWG Report

10. BIS reports renewed growth in global OTC derivatives

    Dec 31, 1999Labels: BIS, OTC market

    • BIS Press

11. Basel Committee reviews banks’ implementation progress

    Jan 25, 2000Labels: Basel Committee, Bank supervision

    • BCBS 68

12. CFMA gives legal certainty to many OTC derivatives

    Dec 21, 2000Labels: CFMA, U S

    • CFTC History

13. Basel Committee updates HLI issues review

    Mar 23, 2001Labels: Basel Committee, HLIs review

    • BCBS 79

14. ISDA publishes the 2002 Master Agreement

    Jan 1, 2002Labels: ISDA Master, OTC contracts

    • ISDA Master
    • HSBC Overview