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Documents that Defendant Federal Reserve was required to produce in litigation with Plaintiff McKinley. Heavily redacted materials based on exemptions under FOIA.
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From: Jeff StehmTo: Jennifer Lucier; Melissa Vanlandingham; Dibora AmanuelSubject: Fw: Thursday schedule for bankruptcy streamDate: 09/11/2008 10:29 PMAttachments: LEH rank in League Tables 2006-1H08.xls
Project.docClose Out LEH derivatives orderly unwind.docMemo communication.docTriparty Cheat Sheet 9 12 08.docTriparty Repo Contingency.docOTC Derivatives.docOTC Derivative Descriptive Data.xls
▼ Theodore Lubke
----- Original Message ----- From: Theodore Lubke Sent: 09/11/2008 10:29 PM EDT To: Ann Miner; [email protected]; [email protected]; Clinton Lively; DianneDobbeck; [email protected]; Jan Voigts; Jeanmarie Davis; Jeff Stehm; JeffreyMarquardt; Jim Mahoney; JohnP McGowan; Jonathan Polk; Joseph Sommer; LilyTham; Lisa Joniaux; Lucinda Brickler; Marsha Takagi; [email protected];Michael Schussler; Patrick Parkinson; Shari Ben-Haim; Susan Stiehm; TheodoreLubke; Wendy Ng; Ada Li; Jamie McAndrews; Chris McCurdy Subject: Thursday schedule for bankruptcy stream
We will gather at 9 am to assess where we on the various streams. For those who have not yet circulated your work, please circulate to allon this list.
We will also prepare for an 11 am briefing for Tim in the Board Roomwhere we will run through what a bankruptcy scenario looks like.
I propose the following outline for the presentation. It may get pareddown since we only have one hour. I'd like to have the leads on eachof the topics take the lead in presenting their topic.
Finally, here are some docs (with cover notes) from recent e-mails thatnot everyone may have received.
(b) (5)
BOG--FOIA 10-267--001181
Thank you all for your excellent and hard work.
Theo
----- Forwarded by Theodore Lubke/NY/FRS on 09/11/2008 10:06 PM -----
DanielMuccia/NY/FRS
09/11/2008 09:09 PM
To Theodore Lubke/NY/FRS@FRS
cc
Subject Communication Plan
Attached is draft for review. Please forward it to the group as I do nothave the email group list. Suggestions welcomed.
Daniel A. MucciaBank Supervision GroupForeign BanksTel. 212-720-5692Fax 212-720-7665
----- Forwarded by Theodore Lubke/NY/FRS on 09/11/2008 10:06 PM -----
JonathanPolk/NY/FRS
09/11/2008 08:42 PM
To Jim Mahoney/NY/FRS@FRS, ClintonLively/NY/FRS@FRS, Joseph Sommer/NY/FRS@FRS,Theodore Lubke/NY/FRS@FRS
cc
Subject LEH derivatives close out
Here is an attempt to put something on paper that captures theessence of our thinking.
Susan Stiehm/NY/FRS
To Theodore Lubke/NY/FRS@FRS, WendyNg/NY/FRS@FRS
(b) (5)
BOG--FOIA 10-267--001182
09/11/2008 08:37 PM cc
Subject Project
Hi, I just wanted to share what I have gathered so far as the Desk'soperational exposures as well as some figures I've pulled togetherregarding market impact. I've also attached the league tables providedby Bank Supervision.
________________________________________
Susan StiehmDomestic Capital MarketsMarkets GroupFederal Reserve Bank of New York212.720.2071Note that you can also use area code (646) for all FRBNY phonenumbers.
The information contained in this message is the opinion of the senderand not necessarily that of the Bank or the Federal Reserve System.
----- Forwarded by Theodore Lubke/NY/FRS on 09/11/2008 10:08 PM -----
Lucinda MBrickler/NY/FRS
09/11/2008 07:43 PM
To Andrew Danzig/NY/FRS@FRS, ArthurAngulo/NY/FRS@FRS, Beverly Hirtle/NY/FRS@FRS,Brian Peters/NY/FRS@FRS, CalvinMitchell/NY/FRS@FRS, Chris Burke/NY/FRS@FRS, ChrisMcCurdy/NY/FRS@FRS, ChristineCumming/NY/FRS@FRS, DebbyPerelmuter/NY/FRS@FRS, DianneDobbeck/NY/FRS@FRS, HaeRan Kim/NY/FRS@FRS,Jamie McAndrews/NY/FRS@FRS, JeanmarieDavis/NY/FRS@FRS, Joseph Sommer/NY/FRS@FRS,Joseph Tracy/NY/FRS@FRS, Lucinda MBrickler/NY/FRS@FRS, Maria Ambrosio/NY/FRS@FRS,Meg McConnell/NY/FRS@FRS, MichaelNelson/NY/FRS@FRS, Michael Schetzel/NY/FRS@FRS,Michael Schussler/NY/FRS@FRS, PatriciaMosser/NY/FRS@FRS, Patrick MParkinson/BOARD/FRS@BOARD, SandyKrieger/NY/FRS@FRS, Sarah Dahlgren/NY/FRS@FRS,Scott Alvarez/BOARD/FRS@BOARD, SimonPotter/NY/FRS@FRS, [email protected],Susan Stiehm/NY/FRS@FRS, TerrenceChecki/NY/FRS@FRS, Theodore Lubke/NY/FRS@FRS,Thomas Baxter/NY/FRS@FRS, TilSchuermann/NY/FRS@FRS, TobiasAdrian/NY/FRS@FRS, WilliamBRODOWS/NY/FRS@FRS, WilliamDudley/NY/FRS@FRS, William Rutledge/NY/FRS@FRS,Timothy Geithner/NY/FRS@FRS, MarkVanDerWeide/BOARD/FRS@BOARD
cc
BOG--FOIA 10-267--001183
Subject Restruicted FR--triparty repo thoughts for tomorrow 912 08
Restricted FR
Hello all
So far, I've heard of nothing from JPMC regarding concerns aboutunwinding triparty repo tomorrow a.m.
Lucinda
Lucinda BricklerPayments Policy FunctionFederal Reserve Bank of New York 212.720.6132 or 646.720.6132
----- Forwarded by Theodore Lubke/NY/FRS on 09/11/2008 10:09 PM -----
Clinton Lively/NY/FRS
09/11/2008 05:15 PM
To Theodore Lubke/NY/FRS@FRS, JonathanPolk/NY/FRS@FRS, Jim Mahoney/NY/FRS@FRS, DianneDobbeck/NY/FRS@FRS, Brian Peters/NY/FRS@FRS,Sarah Dahlgren/NY/FRS@FRS, Patrick MParkinson/BOARD/FRS@BOARD, AnthonyCirillo/NY/FRS@FRS
cc
Subject Notes on LEH OTC Derivatives
Updated outline on issues related to unwinding the OTC derivativebook at LEH.
BestClint
(b) (5)(b) (5)
BOG--FOIA 10-267--001184
BOG--FOIA 10-267--001185
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 1,588.9 9 5.1 13Industry Total 31,361.7 - 100.0 76
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 50,306.9 12 3.7 99Industry Total 1,345,631.5 - 100.0 2,591
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 51,895.9 11 3.8 112Industry Total 1,376,993.2 - 100.0 2,667
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 13,368.2 5 7.7 27Industry Total 172,911.5 - 100.0 321
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 8,781.9 7 4.7 22Industry Total 186,227.6 - 100.0 399
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 4,637.7 2 10.7 9Industry Total 43,254.1 - 100.0 144
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds AmountThis Market
(US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 13,102.0 25 .9 23Industry Total 1,534,872.6 - 100.0 3,655
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds AmountThis Market
(US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 5,259.1 23 1.2 19Industry Total 423,173.2 - 100.0 1,044
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 21,060.5 5 6.9 48Industry Total 305,220.6 - 100.0 1,293
MBS
ABS
IG
HY
Corporate Bonds
Lev Syndicated Loans
Equity
Cash CDOs
All Syndicated Loans
BOG--FOIA 10-267--001186
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 12,396.5 7 7.0 77Industry Total 177,049.3 - 100.0 861
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 105,571.1 9 4.0 294Industry Total 2,619,934.4 - 100.0 7,001
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 116,643.4 9 4.2 342Industry Total 2,786,204.8 - 100.0 7,300
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 122,999.7 1 9.3 171Industry Total 1,328,162.6 - 100.0 2,087
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 26,636.0 4 7.9 47Industry Total 338,953.4 - 100.0 800
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 97,687.9 1 9.8 153Industry Total 999,988.1 - 100.0 1,846
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 78,627.2 5 6.6 213Industry Total 1,193,280.0 - 100.0 2,945
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 24,592.7 3 10.4 89Industry Total 235,921.5 - 100.0 1,063
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 22,629.5 8 5.1 96Industry Total 447,505.8 - 100.0 1,689
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 9,745.5 8 4.9 54Industry Total 197,079.8 - 100.0 932
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds AmountThis Market
(US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 91,276.6 13 1.9 147Industry Total 4,706,437.8 - 100.0 9,011
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds AmountThis Market
(US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 63,821.4 9 3.9 134Industry Total 1,638,618.7 - 100.0 2,848
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 29,685.8 9 3.3 154Industry Total 887,830.9 - 100.0 4,456
Book Runner Full to
Book Runner (Equal if Joint) Par Amount
(US$ mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 24,837.6 7 5.9 252Industry Total 424,655.3 - 100.0 12,232
Financial Advisor Full to
Each Eligible Advisor
Ranking Value inc.Net Debt
of Target ($ Mil) RankMkt.
ShareNumber of
Deals Lehman Brothers 749,853.9 7 19.6% 246Industry Total 3,831,337.8 - 100.0 29,417
Financial Advisor Full to
Each Eligible Advisor
Ranking Value inc.Net Debt
of Target ($ Mil) RankMkt.
ShareNumber of
Deals Lehman Brothers 589,182.7 5 22.1% 189Industry Total 2,662,854.4 - 100.0 26,791
MBS
CMBS
HY
IG
Corporate Bonds
ReCredit/HE
Cash CDOs
RMBS
ABS
All Syndicated Loans
Lev Syndicated Loans
SF Cash CDOs
Announced M&A
Equity
Completed M&A
US Municipal New Issues
BOG--FOIA 10-267--001187
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 115,273.1 8 4.4 332Industry Total 2,623,774.2 - 100.0 7,119
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 11,069.6 9 5.6 70Industry Total 198,992.1 - 100.0 948
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 125,020.1 8 4.5 376Industry Total 2,812,133.2 - 100.0 7,479
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 124,027.8 2 8.7 182Industry Total 1,430,780.4 - 100.0 2,332
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 21,413.9 5 7.7 43Industry Total 277,487.7 - 100.0 827
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 107,002.9 2 9.1 166Industry Total 1,172,924.2 - 100.0 2,109
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 95,023.9 4 6.3 241Industry Total 1,510,350.5 - 100.0 3,429
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 52,298.3 1 10.6 160Industry Total 495,690.1 - 100.0 1,628
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 13,544.9 14 2.9 56Industry Total 464,479.4 - 100.0 1,626
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds AmountThis Market
(US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 41,900.3 22 1.1 112Industry Total 3,947,544.5 - 100.0 9,123
Book Runner Full to
Book Runner (Equal if Joint)
Proceeds Amount +Overallotment Sold
This Market (US$ Mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 27,458.1 9 3.9 147Industry Total 698,632.2 - 100.0 3,444
Book Runner Full to
Book Runner (Equal if Joint) Par Amount
(US$ mil) RankMkt.
ShareNumber of
Issues Lehman Brothers 22,147.2 6 5.8 238Industry Total 383,117.0 - 100.0 12,469
Financial Advisor Full to
Each Eligible Advisor
Ranking Value inc.Net Debt
of Target ($ Mil) RankMkt.
ShareNumber of
Deals Lehman Brothers 468,512.0 7 16.2 198Industry Total 2,890,469.4 - 100.0 25,048
Financial Advisor Full to
Each Eligible Advisor
Ranking Value inc.Net Debt
of Target ($ Mil) RankMkt.
ShareNumber of
Deals Lehman Brothers 592,246.2 8 16.0 219Industry Total 3,695,117.3 - 100.0 37,197
2006 IG
2006 HY
2006 CMBS
2006 RMBS
2006 Corporate Bonds
2006 MBS
2006 Cash CDOs
All Syndicated Loans
2006 ABS
2006 HEL ABS
2006 Announced M&A
US Municipal New Issues
Equity 2006
2006 Completed M&A
BOG--FOIA 10-267--001188
The Desk’s Exposure (b) (5)
BOG--FOIA 10-267--001189
Market Impact Summary: Lehman has migrated away from corporate debt holdings to Treasuries and Agency debt during the past couple of weeks. However, their share of weekly trading volumes in corporate debt remains around 20 percent, followed by 10 percent in Treasuries. Trading:
Lehman's Market Share of Trading Volumes
0%
5%
10%
15%
20%
25%
30%
35%
7/4/01
11/4/
01
3/4/02
7/4/02
11/4/
02
3/4/03
7/4/03
11/4/
03
3/4/04
7/4/04
11/4/
04
3/4/05
7/4/05
11/4/
05
3/4/06
7/4/06
11/4/
06
3/4/07
7/4/07
11/4/
07
3/4/08
7/4/08
%
Treasuries AGY MBS Corp
Source: FR2004 weekly volume data Positions: Treasuries, Agencies, MBS and Corp
(b) (5)
BOG--FOIA 10-267--001190
Gross Lehman TSY Position Compared to Primary Dealer Average
0100002000030000400005000060000700008000090000
7/4/
2001
1/4/
2002
7/4/
2002
1/4/
2003
7/4/
2003
1/4/
2004
7/4/
2004
1/4/
2005
7/4/
2005
1/4/
2006
7/4/
2006
1/4/
2007
7/4/
2007
1/4/
2008
7/4/
2008
Avg Lehman
Gross Lehman AGY Position Compared to Primary Dealer Average
05000
10000
15000200002500030000
350004000045000
7/4/
2001
1/4/
2002
7/4/
2002
1/4/
2003
7/4/
2003
1/4/
2004
7/4/
2004
1/4/
2005
7/4/
2005
1/4/
2006
7/4/
2006
1/4/
2007
7/4/
2007
1/4/
2008
7/4/
2008
Avg Lehman
Gross Lehman MBS Position Compared to Primary Dealer Average
0
50000
100000
150000
200000
250000
7/4/
2001
1/4/
2002
7/4/
2002
1/4/
2003
7/4/
2003
1/4/
2004
7/4/
2004
1/4/
2005
7/4/
2005
1/4/
2006
7/4/
2006
1/4/
2007
7/4/
2007
1/4/
2008
7/4/
2008
Avg Lehman
BOG--FOIA 10-267--001191
Gross Lehman Corp Position Compared to
Primary Dealer Average
0
5000
10000
15000
20000
25000
30000
350007/
4/20
01
1/4/
2002
7/4/
2002
1/4/
2003
7/4/
2003
1/4/
2004
7/4/
2004
1/4/
2005
7/4/
2005
1/4/
2006
7/4/
2006
1/4/
2007
7/4/
2007
1/4/
2008
7/4/
2008
Avg Lehman
FX – FX Committee produces FX Volume Survey
Statistics should have the individual dealer information as of April, 2008
BOG--FOIA 10-267--001192
LEH Derivatives Close Out
(b) (5)
BOG--FOIA 10-267--001193
FEDERAL RESERVE BANK OF NEW YORK
OFFICE MEMORANDUM DATE September 11, 2008
TO Theo Lubke SUBJECT Communication Plan
FROM Daniel Muccia
(b) (5)
BOG--FOIA 10-267--001194
2
(b) (5)
BOG--FOIA 10-267--001195
3
(b) (5)
BOG--FOIA 10-267--001196
4
(b) (5)
BOG--FOIA 10-267--001197
5
(b) (5)
BOG--FOIA 10-267--001198
Restricted F.R. September 26, 2010
Page 1 of 2
Triparty Repo Cheat Sheet 9 12 08
(b) (5)
BOG--FOIA 10-267--001199
Restricted F.R. September 26, 2010
Page 2 of 2
(b) (5)
BOG--FOIA 10-267--001200
Restricted F.R. D R A F T
Sunday, September 26, 2010 Page 1 of 3
Contingency Planning Loss of Confidence in Major Securities Dealer
(b) (5)
BOG--FOIA 10-267--001201
Restricted F.R. D R A F T
Sunday, September 26, 2010 Page 2 of 3
(b) (5)
BOG--FOIA 10-267--001202
Restricted F.R. D R A F T
Sunday, September 26, 2010 Page 3 of 3
(b) (5)
BOG--FOIA 10-267--001203
1
9/11/2008 5:09 PM LEH OTC Derivatives
r
(b) (5)
BOG--FOIA 10-267--001204
(b) (5)
BOG--FOIA 10-267--001205
3
(b) (5)
BOG--FOIA 10-267--001206
(b) (5)
BOG--FOIA 10-267--001207
From: Ada LiTo: Jeffrey Marquardt; Jeff Stehm; Patrick M Parkinson; Pat WhiteSubject: Fw: Thursday schedule for bankruptcy stream - 9am mtgDate: 09/12/2008 09:19 AMAttachments: Communication Plan.doc
Memo communication.docClose Out LEH derivatives orderly unwind.docLEH rank in League Tables 2006-1H08.xlsProject.docTriparty Cheat Sheet 9 12 08.docTriparty Repo Contingency.docOTC Derivatives.docOTC Derivative Descriptive Data.xls
FYI: For the 9 AM
Thanks,Ada LiFederal Reserve BankTel: [email protected] Forwarded by Ada Li/NY/FRS on 09/12/2008 09:19 AM -----
Lily Tham/NY/FRS
09/12/2008 01:46 AM
To Steven Pesek/NY/FRS@FRS
cc Ada Li/NY/FRS, Shari Ben-Haim/NY/FRS@FRS
Subject Thursday schedule for bankruptcy stream - 9am mtg
Hi, Steve,Here is the stuff for the 9am meeting.
Ada/Shari: You got the original email from Theo with the attachment. The onlything new is the Communication Plan that I reformatted from Dan Muccia'sversion, and Theo has suggestions for Dan to update. Just FYI.
----- Forwarded by Lily Tham/NY/FRS on 09/12/2008 01:40 AM -----
Lily Tham/NY/FRS
09/11/2008 11:37 PM
To Wendy Ng/NY/FRS
cc
Subject Fw: Thursday schedule for bankruptcy stream -Communication Plan
FYI, as well . . .
Daniel Muccia/NY/FRS
To Theodore Lubke/NY/FRS@FRS, Marsha
BOG--FOIA 10-267--001208
09/11/2008 11:32 PMTakagi/NY/FRS@FRS
cc Lily Tham/NY/FRS@FRS
Subject Re: Thursday schedule for bankruptcy stream
Ok thanks. See you at 9am
----- Forwarded by Lily Tham/NY/FRS on 09/11/2008 11:33 PM -----
TheodoreLubke/NY/FRS
09/11/2008 11:26 PM
To Daniel Muccia/NY/FRS@FRS, MarshaTakagi/NY/FRS@FRS
cc Lily Tham/NY/FRS@FRS
Subject Fw: Thursday schedule for bankruptcy stream
Dan -
Turns out you weren't on the list I fwded the message below to - you should checkout our plans for tmw detailed below The comm memo is good - a few comments:
Lily also cleaned up the formatting a bit, so please use this version.
Thank you.
Theo
Theo LubkeSenior Vice PresidentBank Supervision GroupFederal Reserve Bank of New [email protected]: 212-720-6334fax: 212-720-7818http://www.newyorkfed.org----- Forwarded by Theodore Lubke/NY/FRS on 09/11/2008 11:15 PM -----
TheodoreLubke/NY/FRS
09/11/2008 10:29 PM
To Ann Miner/NY/FRS@FRS, [email protected],[email protected], Clinton Lively/NY/FRS@FRS,Dianne Dobbeck/NY/FRS@FRS, [email protected], JanVoigts/NY/FRS@FRS, Jeanmarie Davis/NY/FRS@FRS,Jeff Stehm/BOARD/FRS@BOARD, Jeffrey
(b) (5)
BOG--FOIA 10-267--001209
Marquardt/BOARD/FRS@BOARD, JimMahoney/NY/FRS@FRS, JohnPMcGowan/NY/FRS@FRS, Jonathan Polk/NY/FRS@FRS,Joseph Sommer/NY/FRS@FRS, LilyTham/NY/FRS@FRS, Lisa Joniaux/NY/FRS@FRS,Lucinda M Brickler/NY/FRS@FRS, MarshaTakagi/NY/FRS@FRS, [email protected], MichaelSchussler/NY/FRS@FRS, Patrick MParkinson/BOARD/FRS@BOARD, Shari Ben-Haim/NY/FRS@FRS, Susan Stiehm/NY/FRS@FRS,Theodore Lubke/NY/FRS@FRS, WendyNg/NY/FRS@FRS, Ada Li/NY/FRS@FRS, JamieMcAndrews/NY/FRS@FRS, Chris McCurdy/NY/FRS@NY
cc
Subject Thursday schedule for bankruptcy stream
Duplicate
BOG--FOIA 10-267--001210
FEDERAL RESERVE BANK OF NEW YORK
OFFICE MEMORANDUM DATE September 11, 2008
TO Theo Lubke SUBJECT Communication Plan
FROM Daniel Muccia
Restricted F.R.
(b) (5)
BOG--FOIA 10-267--001211
2
Comunication Plan
Restricted F.R.
(b) (5)
BOG--FOIA 10-267--001212
3
Comunication Plan
Restricted F.R.
(b) (5)
(b) (5)
BOG--FOIA 10-267--001213
4
Comunication Plan
Restricted F.R.
Appendix A
Contact Information for Supervisors/Regulators (b) (5)
BOG--FOIA 10-267--001214
5
Comunication Plan
Restricted F.R. (b) (5)
BOG--FOIA 10-267--001215
From: Jamie McAndrewsTo: Lucinda M BricklerCc: [email protected]; HaeRan Kim; Meg McConnell; Michael Schussler; Patrick M Parkinson;
[email protected]; Susan McLaughlinSubject: Re: restricted fr--JPMC unwind cheat sheetDate: 09/10/2008 03:39 PMAttachments: JPMC Call Cheat Sheet.doc
Triparty Repo Contingency.doc
Hi Lucinda,
Thanks.
Jamie▼ Lucinda M Brickler/NY/FRS
Lucinda MBrickler/NY/FRS
09/10/2008 03:14 PM
To Patrick M Parkinson/BOARD/FRS@BOARD,[email protected], MegMcConnell/NY/FRS@FRS, JamieMcAndrews/NY/FRS@FRS, SusanMcLaughlin/NY/FRS@FRS, Patrick MParkinson/BOARD/FRS@BOARD, MichaelSchussler/NY/FRS@FRS, HaeRan Kim/NY/FRS@FRS,[email protected]
cc
Subject restricted fr--JPMC unwind cheat sheet
Restricted FR
I created the following cheat sheet
Please letme know what thoughts you have.
Lucinda
Lucinda BricklerPayments Policy FunctionFederal Reserve Bank of New York 212.720.6132 or 646.720.6132
(b) (5)
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(b) (5)(b) (5) (b) (5)
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Second attachment is a duplicate
BOG--FOIA 10-267--001216
Restricted F.R. September 26, 2010
JPMC Unwind Cheat Sheet
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BOG--FOIA 10-267--001217
Restricted F.R. September 26, 2010
(b) (5)
BOG--FOIA 10-267--001218
From: [email protected]: [email protected]; [email protected]: Fw: restricted fr--JPMC unwind cheat sheetDate: 09/10/2008 05:23 PMAttachments: JPMC Call Cheat Sheet.doc
JPMC Call Cheat Sheet.docTriparty Repo Contingency.doc
Pat----- Forwarded by Patrick M Parkinson/BOARD/FRS on 09/10/2008 05:21 PM-----
Lucinda MBrickler/NY/FRS@FRS [email protected]/10/2008 05:12 ccPM [email protected], HaeRan
Kim/NY/FRS@FRS, JamieMcAndrews/NY/FRS@FRS, MegMcConnell/NY/FRS@FRS, MichaelSchussler/NY/FRS@FRS, Patrick MParkinson/BOARD/FRS@BOARD,[email protected], SusanMcLaughlin/NY/FRS@FRSSubjectRe: restricted fr--JPMC unwindcheat sheet(Document link: PatrickM Parkinson)
(See attached file: JPMC Call Cheat Sheet.doc)
Lucinda BricklerPayments Policy FunctionFederal Reserve Bank of New York212.720.6132 or 646.720.6132
Lucinda MBrickler/NY/FRSTo09/10/2008 03:14 Patrick M Parkinson/BOARD/FRS,PM Chris McCurdy/NY/FRS, Meg
McConnell/NY/FRS, JamieMcAndrews/NY/FRS, SusanMcLaughlin/NY/FRS, Patrick MParkinson/BOARD/FRS, MichaelSchussler/NY/FRS, HaeRan
(b) (5)
(b) (5)(b) (5)
BOG--FOIA 10-267--001219
Kim/NY/FRS, Sandy Krieger/NY/FRScc
Subjectrestricted fr--JPMC unwind cheatsheet
Duplicate
BOG--FOIA 10-267--001220
From: Patrick M ParkinsonTo: Mark VanDerWeideSubject: Fw: restricted fr--JPMC unwind cheat sheetDate: 09/11/2008 10:09 AMAttachments: JPMC Call Cheat Sheet.doc
Triparty Repo Contingency.doc
----- Forwarded by Patrick M Parkinson/BOARD/FRS on 09/11/2008 10:09 AM -----
Lucinda MBrickler/NY/FRS@FRS
09/10/2008 03:11 PM
To Patrick M Parkinson/BOARD/FRS@BOARD,[email protected], MegMcConnell/NY/FRS@FRS, JamieMcAndrews/NY/FRS@FRS, SusanMcLaughlin/NY/FRS@FRS, Patrick MParkinson/BOARD/FRS@BOARD, MichaelSchussler/NY/FRS@FRS, HaeRan Kim/NY/FRS@FRS,[email protected]
cc
Subject restricted fr--JPMC unwind cheat sheet
Duplicate
BOG--FOIA 10-267--001221
From: [email protected]: Patrick ParkinsonSubject: Fw: LEH OTC DerivativesDate: 09/11/2008 02:20 PMAttachments: OTC Derivatives.doc
OTC Derivative Descriptive Data.xls
Early draft
----- Original Message -----From: Clinton LivelySent: 09/11/2008 12:58 PM EDTTo: Jonathan Polk; Jim Mahoney; Dianne Dobbeck; Anthony CirilloSubject: LEH OTC Derivatives
Please find attached an outline of issues related to management of LEH'sOTC derivative book - please comment/complete .
ThanksCLint
(See attached file: OTC Derivatives.doc)
(See attached file: OTC Derivative Descriptive Data.xls) - OTC
Derivatives.doc - OTC Derivative Descriptive Data.xls
BOG--FOIA 10-267--001222
LEH OTC Derivatives
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2
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BOG--FOIA 10-267--001224
3
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BOG--FOIA 10-267--001225
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BOG--FOIA 10-267--001226
From: Mark VanDerWeideTo: Scott Alvarez; Brian F Madigan; Deborah P BaileySubject: Fw: latest docDate: 09/11/2008 02:33 PMAttachments: JPMC Call Cheat Sheet.doc
Triparty Repo Contingency.doc
fyi----- Forwarded by Mark VanDerWeide/BOARD/FRS on 09/11/2008 02:32 PM -----
Lucinda MBrickler/NY/FRS@FRS
09/11/2008 02:02 PM
To Mark VanDerWeide/BOARD/FRS@BOARD, Patrick MParkinson/BOARD/FRS@BOARD
cc
Subject latest doc
Lucinda BricklerPayments Policy FunctionFederal Reserve Bank of New York 212.720.6132 or 646.720.6132
The attachments are duplicates.
BOG--FOIA 10-267--001227
From: Patrick M ParkinsonTo: Mark VanDerWeideSubject: Fw: Restruicted FR--triparty repo thoughts for tomorrow 9 12 08Date: 09/11/2008 07:59 PMAttachments: Triparty Cheat Sheet 9 12 08.doc
Triparty Repo Contingency.doc
▼ Lucinda M Brickler
----- Original Message ----- From: Lucinda M Brickler Sent: 09/11/2008 07:43 PM EDT To: Andrew Danzig; Arthur Angulo; Beverly Hirtle; Brian Peters; CalvinMitchell; Chris Burke; Chris McCurdy; Christine Cumming; Debby Perelmuter;Dianne Dobbeck; HaeRan Kim; Jamie McAndrews; Jeanmarie Davis; Joseph Sommer;Joseph Tracy; Lucinda Brickler; Maria Ambrosio; Meg McConnell; MichaelNelson; Michael Schetzel; Michael Schussler; Patricia Mosser; PatrickParkinson; Sandy Krieger; Sarah Dahlgren; Scott Alvarez; Simon Potter;[email protected]; Susan Stiehm; Terrence Checki; Theodore Lubke;Thomas Baxter; Til Schuermann; Tobias Adrian; William BRODOWS; WilliamDudley; William Rutledge; Timothy Geithner; Mark VanDerWeide Subject: Restruicted FR--triparty repo thoughts for tomorrow 9 12 08
Restricted FR
Hello all
So far, I've heard of nothing from JPMC regarding concerns aboutunwinding triparty repo tomorrow a.m.
Lucinda
Lucinda BricklerPayments Policy FunctionFederal Reserve Bank of New York 212.720.6132 or 646.720.6132
(b) (5)(
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Attachments are duplicates
BOG--FOIA 10-267--001228
From: Theodore LubkeTo: Wendy Ng; Zahra El-Mekkawy; Brian Peters; [email protected]; Arthur AnguloCc: Jamie McAndrews; Patrick M ParkinsonSubject: Fw: Thursday schedule for bankruptcy streamDate: 09/12/2008 08:22 AMAttachments: Default Management Group Sep 12 morning pmp comments.doc
Wendy - If we do have this meeting, you should think about
BASZ - Is there a crack SG 14-16 staff member we could assign to this effort to helpwith organization and logistics? Our team is getting stretched. Not certain it will gofwd but wld hate to be caught flat footed.
T
Theo LubkeSenior Vice PresidentBank Supervision GroupFederal Reserve Bank of New [email protected]: 212-720-6334fax: 212-720-7818http://www.newyorkfed.org----- Forwarded by Theodore Lubke/NY/FRS on 09/12/2008 08:15 AM -----
Patrick MParkinson/BOARD/FRS@BOARD
09/12/2008 08:13 AM
To Jamie McAndrews/NY/FRS@FRS
cc Ada Li/NY/FRS@FRS, AnnMiner/NY/FRS@FRS,[email protected],[email protected], [email protected], ChrisMcCurdy/NY/FRS@NY, ClintonLively/NY/FRS@FRS, DianneDobbeck/NY/FRS@FRS, [email protected], JanVoigts/NY/FRS@FRS, JeanmarieDavis/NY/FRS@FRS, JeffStehm/BOARD/FRS@BOARD, JeffreyMarquardt/BOARD/FRS@BOARD, JimMahoney/NY/FRS@FRS, JohnPMcGowan/NY/FRS@FRS, JonathanPolk/NY/FRS@FRS, JosephSommer/NY/FRS@FRS, LilyTham/NY/FRS@FRS, LisaJoniaux/NY/FRS@FRS, Lucinda MBrickler/NY/FRS@FRS, MarshaTakagi/NY/FRS@FRS, [email protected],Michael Schussler/NY/FRS@FRS, Shari Ben-Haim/NY/FRS@FRS, SusanStiehm/NY/FRS@FRS, TheodoreLubke/NY/FRS@FRS, TobiasAdrian/NY/FRS@FRS, WendyNg/NY/FRS@FRS
Subject Re: Thursday schedule for bankruptcy
stream
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BOG--FOIA 10-267--001229
Jamie,
A few quick comments.
Pat
▼ Jamie McAndrews/NY/FRS@FRS
JamieMcAndrews/NY/FRS@FRS
09/12/2008 07:48 AM
To Theodore Lubke/NY/FRS@FRS
cc Ada Li/NY/FRS@FRS, Ann Miner/NY/FRS@FRS,[email protected], [email protected], ChrisMcCurdy/NY/FRS@NY, Clinton Lively/NY/FRS@FRS,Dianne Dobbeck/NY/FRS@FRS, [email protected], JanVoigts/NY/FRS@FRS, JeanmarieDavis/NY/FRS@FRS, JeffStehm/BOARD/FRS@BOARD, JeffreyMarquardt/BOARD/FRS@BOARD, JimMahoney/NY/FRS@FRS, JohnPMcGowan/NY/FRS@FRS, JonathanPolk/NY/FRS@FRS, Joseph Sommer/NY/FRS@FRS,Lily Tham/NY/FRS@FRS, LisaJoniaux/NY/FRS@FRS, Lucinda MBrickler/NY/FRS@FRS, MarshaTakagi/NY/FRS@FRS, [email protected], MichaelSchussler/NY/FRS@FRS, Patrick MParkinson/BOARD/FRS@BOARD, Shari Ben-Haim/NY/FRS@FRS, Susan Stiehm/NY/FRS@FRS,Theodore Lubke/NY/FRS@FRS, WendyNg/NY/FRS@FRS, Tobias Adrian/NY/FRS@FRS,[email protected], MichaelSchussler/NY/FRS@FRS
Subject Re: Thursday schedule for bankruptcy stream
Hi all,
Here is a version of the default management group. I'll needassistance today in fleshing this out further.
Jamie
[attachment "Default Management Group Sep 12 morning.doc" deletedby Patrick M Parkinson/BOARD/FRS]
▼ Theodore Lubke/NY/FRS
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BOG--FOIA 10-267--001230
September 12, 2008 7:30 Convening the FRBNY’s Operations Management Group OMG to consider potential collective actions in the event of a default by Lehman
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BOG--FOIA 10-267--001231
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BOG--FOIA 10-267--001232
From: Jamie McAndrewsTo: Patrick M ParkinsonCc: Ada Li; Ann Miner; [email protected]; [email protected]; [email protected]; Chris McCurdy; Clinton
Lively; Dianne Dobbeck; [email protected]; Jan Voigts; Jeanmarie Davis; Jeff Stehm; Jeffrey Marquardt; JimMahoney; JohnP McGowan; Jonathan Polk; Joseph Sommer; Lily Tham; Lisa Joniaux; Lucinda M Brickler;Marsha Takagi; [email protected]; Michael Schussler; Shari Ben-Haim; Susan Stiehm; Theodore Lubke;Tobias Adrian; Wendy Ng; [email protected]
Subject: Re: Thursday schedule for bankruptcy streamDate: 09/12/2008 08:40 AMAttachments: Default Management Group Sep 12 mid-morning.doc
Thanks Pat,
With Michael Schussler, Bev Hirtle, and Tobias Adrian, we incorporated your viewsand improved further the description.
Here is the update. Further comments are most welcome.
Jamie
▼ Patrick M Parkinson/BOARD/FRS@BOARD
Patrick MParkinson/BOARD/FRS@BOARD
09/12/2008 08:13 AM
To Jamie McAndrews/NY/FRS@FRS
cc Ada Li/NY/FRS@FRS, AnnMiner/NY/FRS@FRS,[email protected],[email protected], [email protected], ChrisMcCurdy/NY/FRS@NY, ClintonLively/NY/FRS@FRS, DianneDobbeck/NY/FRS@FRS, [email protected], JanVoigts/NY/FRS@FRS, JeanmarieDavis/NY/FRS@FRS, JeffStehm/BOARD/FRS@BOARD, JeffreyMarquardt/BOARD/FRS@BOARD, JimMahoney/NY/FRS@FRS, JohnPMcGowan/NY/FRS@FRS, JonathanPolk/NY/FRS@FRS, JosephSommer/NY/FRS@FRS, LilyTham/NY/FRS@FRS, LisaJoniaux/NY/FRS@FRS, Lucinda MBrickler/NY/FRS@FRS, MarshaTakagi/NY/FRS@FRS, [email protected],Michael Schussler/NY/FRS@FRS, Shari Ben-Haim/NY/FRS@FRS, SusanStiehm/NY/FRS@FRS, TheodoreLubke/NY/FRS@FRS, TobiasAdrian/NY/FRS@FRS, WendyNg/NY/FRS@FRS
Subject Re: Thursday schedule for bankruptcy
stream
Duplicate
BOG--FOIA 10-267--001233
F.R. Restricted September 12, 2008 7:30 Convening the FRBNY’s Operations Management Group OMG to consider potential actions in the event of a default by Lehman
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BOG--FOIA 10-267--001234
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BOG--FOIA 10-267--001235
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BOG--FOIA 10-267--001236
From: Patrick M ParkinsonTo: Jamie McAndrewsCc: Ada Li; Ann Miner; [email protected]; [email protected]; [email protected]; Chris McCurdy; Clinton
Lively; Dianne Dobbeck; [email protected]; Jan Voigts; Jeanmarie Davis; Jeff Stehm; Jeffrey Marquardt; JimMahoney; JohnP McGowan; Jonathan Polk; Joseph Sommer; Lily Tham; Lisa Joniaux; Lucinda M Brickler;Marsha Takagi; [email protected]; Michael Schussler; Shari Ben-Haim; Susan Stiehm; Theodore Lubke;Tobias Adrian; Wendy Ng
Subject: Re: Thursday schedule for bankruptcy streamDate: 09/12/2008 08:56 AMAttachments: Default Management Group Sep 12 mid-morning.doc
Much improved. A few further suggestions are attached.
Pat
▼ Jamie McAndrews/NY/FRS@FRS
JamieMcAndrews/NY/FRS@FRS
09/12/2008 08:40 AM
To Patrick M Parkinson/BOARD/FRS@BOARD
cc Ada Li/NY/FRS@FRS, Ann Miner/NY/FRS@FRS,[email protected], [email protected],[email protected], Chris McCurdy/NY/FRS@NY,Clinton Lively/NY/FRS@FRS, DianneDobbeck/NY/FRS@FRS, [email protected], JanVoigts/NY/FRS@FRS, JeanmarieDavis/NY/FRS@FRS, JeffStehm/BOARD/FRS@BOARD, JeffreyMarquardt/BOARD/FRS@BOARD, JimMahoney/NY/FRS@FRS, JohnPMcGowan/NY/FRS@FRS, JonathanPolk/NY/FRS@FRS, Joseph Sommer/NY/FRS@FRS,Lily Tham/NY/FRS@FRS, LisaJoniaux/NY/FRS@FRS, Lucinda MBrickler/NY/FRS@FRS, MarshaTakagi/NY/FRS@FRS, [email protected], MichaelSchussler/NY/FRS@FRS, Shari Ben-Haim/NY/FRS@FRS, Susan Stiehm/NY/FRS@FRS,Theodore Lubke/NY/FRS@FRS, TobiasAdrian/NY/FRS@FRS, Wendy Ng/NY/FRS@FRS,[email protected]
Subject Re: Thursday schedule for bankruptcy stream
Duplicate
BOG--FOIA 10-267--001237
F.R. Restricted September 12, 2008 7:30 Convening the FRBNY’s Operations Management Group OMG to consider potential actions in the event of a default by Lehman
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BOG--FOIA 10-267--001238
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BOG--FOIA 10-267--001239
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BOG--FOIA 10-267--001240
From: Jamie McAndrewsTo: Patrick M ParkinsonSubject: Re: Thursday schedule for bankruptcy streamDate: 09/12/2008 09:16 AM
Thanks, Pat, I'll incorporate.Jamie--------------------------Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)▼ Patrick M Parkinson
----- Original Message ----- From: Patrick M Parkinson Sent: 09/12/2008 08:56 AM EDT To: Jamie McAndrews Cc: Ada Li; Ann Miner; Beverly Hirtle; [email protected];[email protected]; Chris McCurdy/NY/FRS@NY; Clinton Lively; Dianne Dobbeck;[email protected]; Jan Voigts; Jeanmarie Davis; Jeff Stehm; Jeffrey Marquardt; JimMahoney; JohnP McGowan; Jonathan Polk; Joseph Sommer; Lily Tham; LisaJoniaux; Lucinda Brickler; Marsha Takagi; [email protected]; MichaelSchussler; Shari Ben-Haim; Susan Stiehm; Theodore Lubke; Tobias Adrian;Wendy Ng Subject: Re: Thursday schedule for bankruptcy stream
Duplicate
BOG--FOIA 10-267--001241
From: Jamie McAndrewsTo: Patrick M ParkinsonCc: Ada Li; Ann Miner; [email protected]; [email protected]; [email protected]; Chris McCurdy; Clinton
Lively; Dianne Dobbeck; [email protected]; Jan Voigts; Jeanmarie Davis; Jeff Stehm; Jeffrey Marquardt; JimMahoney; JohnP McGowan; Jonathan Polk; Joseph Sommer; Lily Tham; Lisa Joniaux; Lucinda M Brickler;Marsha Takagi; [email protected]; Michael Schussler; Shari Ben-Haim; Susan Stiehm; Theodore Lubke;Tobias Adrian; Wendy Ng; [email protected]; [email protected]; Michael Schussler
Subject: Re: Thursday schedule for bankruptcy streamDate: 09/12/2008 10:05 AMAttachments: Default Management Group Sep 12 late-morning.doc
Please find the revised document that incorporates Pat's comments and a couple ofother changes.
▼ Patrick M Parkinson/BOARD/FRS@BOARD
Patrick MParkinson/BOARD/FRS@BOARD
09/12/2008 09:00 AM
To Jamie McAndrews/NY/FRS@FRS
cc Ada Li/NY/FRS@FRS, AnnMiner/NY/FRS@FRS,[email protected],[email protected], [email protected], ChrisMcCurdy/NY/FRS@NY, ClintonLively/NY/FRS@FRS, DianneDobbeck/NY/FRS@FRS, [email protected], JanVoigts/NY/FRS@FRS, JeanmarieDavis/NY/FRS@FRS, JeffStehm/BOARD/FRS@BOARD, JeffreyMarquardt/BOARD/FRS@BOARD, JimMahoney/NY/FRS@FRS, JohnPMcGowan/NY/FRS@FRS, JonathanPolk/NY/FRS@FRS, JosephSommer/NY/FRS@FRS, LilyTham/NY/FRS@FRS, LisaJoniaux/NY/FRS@FRS, Lucinda MBrickler/NY/FRS@FRS, MarshaTakagi/NY/FRS@FRS, [email protected],Michael Schussler/NY/FRS@FRS, Shari Ben-Haim/NY/FRS@FRS, SusanStiehm/NY/FRS@FRS, TheodoreLubke/NY/FRS@FRS, TobiasAdrian/NY/FRS@FRS, WendyNg/NY/FRS@FRS
Subject Re: Thursday schedule for bankruptcy
stream
Duplicate
BOG--FOIA 10-267--001242
F.R. Restricted September 12, 2008 10:00 Convening the FRBNY’s Operations Management Group OMG to consider potential actions in the event of a default by Lehman
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BOG--FOIA 10-267--001243
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BOG--FOIA 10-267--001244
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BOG--FOIA 10-267--001245
From: [email protected]: Scott AlvarezSubject: Fw: Urgent - LehmanDate: 09/13/2008 10:30 PM
Fyi.
--Sent from my BlackBerry Wireless Handheld-
----- From: Sent: To: Randall KrosznerSubject: Urgent - Lehman
- let's assume govt not interested in bailout
- you should strongly consider stepping in as counterparty on all repotrades where LEHMAN has posted collateral (not the reverse in my opinion)
- if repo counterparties (money market funds et al) incur a loss, theconsequences could be severe
- there will be higher haircuts (if not a refusal to lend to dealers on a goforward basis)
- there will be funds breaking the buck
- there will be a wave of selling unlike any we have seen before
- if fed liquidates repo collateral in orderly manner, fed will have anunsecured claim vis-a-vis estate (other lehman creditors)
- however - you need to make one huge demand: anyone who takes fed ascounterparty MUST agree to clear all future repos thru a centralclearinghouse mechanism (where a competive market exists - ie 2 or moreclearinghouses or a non profit entity such as dtcc) for the next 5 years. Wemust end the insanity of "too big to fail".
- I believe this issue is the single most critical issue you face ; thederivatives book will be a mess for the market - but the systemic issues arefar less dire
- if the repo markets shuts down, it's game over. And I am not trying to bedramatic.
In the interest of full disclosure, we have exposure to lehman - notmaterial - but need to inform you. I, like you, have a deep interest inseeing the markets continue to function
Please call
CONFIDENTIALITY AND SECURITY NOTICE
(b) (4)
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BOG--FOIA 10-267--001246
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BOG--FOIA 10-267--001247
From: Coryann StefanssonTo: BSR LIGSubject: Fw: Draft LFI Conference Call Notes - 9/13/08 7pm call - Revised VersionDate: 09/14/2008 03:20 PMAttachments: Conference Call Notes 9.13.08 evening version 2.doc
some of this may be out dated but I thought that i would forward
Coryann S. StefanssonAssociate Director Bank Supervision and RegulationBoard of GovernorsOffice 202-452-5287Cell Number 202- 294- 9829
Assistant - Ms. Kimberly [email protected] Number 202 736-5555
----- Forwarded by Coryann Stefansson/BOARD/FRS on 09/14/2008 03:20 PM -----
StacyO'Bryant/RICH/FRS@FRS
09/13/2008 09:42 PM
To Sarah Dahlgren/NY/FRS@FRS, BrianPeters/NY/FRS@FRS, MichaelJohnson/SF/FRS@FRS, JenniferBurns/RICH/FRS@FRS, Jon DGreenlee/BOARD/FRS@BOARD, CoryannStefansson/BOARD/FRS@BOARD, ChrisHaley/BOS/FRS@FRS, Raymond ABacon/BSR/CHI/FRS@FRS
cc
Subject Draft LFI Conference Call Notes - 9/13/08 7pm call- Revised Version
Restricted F.R.
Much better version of notes - thanks to Jennifer!
Stacy O'BryantLFI/LCBO Project Manager, Banking Supervision and Regulation/LargeComplex Bank OrganizationsThe Federal Reserve Bank of Richmond, Charlotte BranchOffice 704· 280· 0570 stacy.o'[email protected]
BOG--FOIA 10-267--001248
Restricted F.R. Page 1 Date: September 13, 2008 Author: S. O’Bryant
Key Takeaways:
Meeting Date: September 13, 2008 (7 p.m. EST) Meeting Subject: LFIT Conference Call Purpose:
LFIT/RSO Discussion on Market Events and Issues
(b) (5)
BOG--FOIA 10-267--001249
Restricted F.R. Page 2 Date: September 13, 2008 Author: S. O’Bryant
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BOG--FOIA 10-267--001250
Restricted F.R. Page 3 Date: September 13, 2008 Author: S. O’Bryant
• RSOs working on a set of questions for CPC teams to be distributed tonight
or tomorrow morning. • Tomorrow: Bill talking to foreign supervisors at 9 am and domestics at 10 am
Not Responsive
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BOG--FOIA 10-267--001251
Restricted F.R. Page 4 Date: September 13, 2008 Author: S. O’Bryant
• Sarah will distribute email shortly to follow-up on last question
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BOG--FOIA 10-267--001252
From: Deborah P BaileyTo: Brian F Madigan; William B EnglishCc: Roger Cole; Scott AlvarezSubject: Fw: DB Treasury UpdateDate: 09/15/2008 11:12 AM
I am sure you know this but...--------------------------Sent from the Blackberry of Deborah Bailey
▼ Coryann Stefansson
----- Original Message ----- From: Coryann Stefansson Sent: 09/15/2008 11:10 AM EDT To: Deborah Bailey Subject: Fw: DB Treasury UpdateThis echoes what I hjeard from european contacts this morning.....fedfunds markets r locked .....crisis of confidence amongst major playersCoryann StefanssonAssociate DirectorBank Supervision and Regulation Work # 202 452 5287Cell # 202 294 9829
▼ John Harvey
----- Original Message ----- From: John Harvey Sent: 09/15/2008 10:29 AM EDT To: NY Bank Sup - LFI CPC Updates Cc: Randolph Brown; Glen Reppy Subject: DB Treasury Update
Minutes to Meeting Held with Deutsche Bank’s Treasurer of theAmerica’s Division with Deutsche Bank’s CPC TeamDate: September 15, 2008Time: 8:00 AM
Currently, there is 100% pullback in the Fed Fundsmarket in conditions similar to August 2007. Market is anticipatingmassive injections of funding by the Federal Reserve into the fundingmarkets today.
(b)(4) & (b)(8)
Not Responsive
BOG--FOIA 10-267--001253
Not Responsive
BOG--FOIA 10-267--001254
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