www.ecb.europa.eu
6 October 2023
- Credit terms and conditions remained unchanged following nine consecutive survey rounds of reported tightening
- Maximum maturity of funding secured against government bonds for most-favoured clients increased
- Demand for funding against covered bonds and high-quality corporate bonds increased
Overall credit terms and conditions in the securities financing and over-the-counter (OTC) derivatives markets remained on balance unchanged between June and August 2023. This brought a pause in the overall tightening in credit terms and conditions that survey respondents had reported in the previous nine survey rounds. The unchanged overall terms and conditions reported in this survey round contrast with the expectations of further tightening expressed in the June 2023 survey. The overall unchanged conditions mask some heterogeneity. Price terms tightened on balance for all counterparty types except banks and dealers, for which they eased slightly. They tightened most for hedge…