Tuesday 19 April 2016

* Credit conditions. Financing securities and OTC transactions. Quarterly results

The SESFOD survey is conducted four times a year and covers changes in credit terms and conditions over the three-month reference periods ending in February, May, August and November. The March 2016 survey collected qualitative information on changes between December 2015 and February 2016. The results are based on responses from a panel of 28 large banks, comprising 14 euro area banks and 14 banks with head offices outside the euro area.


EUCentral Bank has published: .... 
18 April 2016
  • Less favourable credit terms for counterparties across the entire spectrum of securities financing and OTC derivatives transaction types.
  • Less favourable non-price credit terms being offered in securities financing transactions but at the same time more favourable financing rates for many types of collateral.
Overall credit terms offered to counterparties across the entire spectrum of securities financing and OTC derivatives transaction types became less favourable during the three-month reference period ending in February 2016. The tightening of credit terms was most pronounced for counterparties which are hedge funds and non-financial corporations. Credit terms are expected to tighten somewhat further over the next review period (i.e. between March and May 2016). More