In line with the two previous survey rounds, respondents to the European Central Bank’s SESFOD (survey on credit terms and conditions in euro-
As regards the provision of finance collateralized by euro-denominated securities, survey respondents reported that, on balance, the maximum amount of funding, the maximum maturity of funding and haircuts had all remained basically unchanged for many types of collateral. The survey also indicated that client demand had increased for most collateralized funding, in some cases owing to the impending year-end. As in the previous survey round, the liquidity and functioning of markets had remained basically unchanged for most types of underlying collateral.
As regards non-centrally cleared OTC derivatives, a small net percentage of survey respondents reported a tightening of non-price terms and conditions for new or renegotiated OTC derivatives master agreements. That tightening was, however, less pronounced than in the two previous survey rounds.