European Central Bank: Results Of The March 2016 Survey On Credit Terms And Conditions In Euro-Denominated Securities Financing And Over-The-Counter Derivatives Markets (SESFOD)

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).