Results of the December 2020 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD)

Whereas price terms tightened slightly for all counterparties except banks and hedge funds, non-price terms eased on balance for all counterparty types.

Metadata
Provider: 
ECEC
URL: 
https://www.ecb.europa.eu//press/pr/date/2021/html/ecb.pr210303~f27ded944f.en.htmlhttps://www.ecb.europa.eu//press/pr/date/2021/html/ecb.pr210303~f27ded944f.en.html
Retrieved on: 
Wednesday, March 3, 2021
Information
Tags: 
Finance, Money, Credit risk, Economy, Financial law, Financial markets, Systemic risk, Bank regulation, Derivative, Hedge fund, Credit derivative, Margin
Summary
Key Points: 
  • Whereas price terms tightened slightly for all counterparties except banks and hedge funds, non-price terms eased on balance for all counterparty types.
  • Looking ahead, a small net percentage of respondents expected overall terms to tighten over the December 2020 to February 2021 period.
  • Respondents also reported that initial margin requirements remained unchanged for almost all OTC derivatives except for credit derivatives referencing sovereigns.
  • The December 2020 survey collected qualitative information on changes between September 2020 and November 2020.
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