The Federal Reserve released its quarterly Senior Credit Officer Opinion Survey on Dealer Financing Terms (SCOOS), which provides information about the availability and terms of credit in securities financing and over-the counter (OTC) derivatives markets.
With respect to securities financing transactions, respondents indicated the following:
- Funding terms remained mostly unchanged, on net, for all collateral classes.
- For all collateral classes, the demand for funding was mostly unchanged on net.
- One-fifth and around one-third of dealers indicated that liquidity and market functioning for non-agency residential mortgage-backed securities and consumer asset-backed securities, respectively, improved over the past three months.
- The volume, duration, and persistence of mark and collateral disputes remained mostly unchanged, on net, across all collateral classes over the past three months.