“Overall credit terms offered have eased over the past 2 years” – ECB Survey

FXStreet (Mumbai) - The European Central Bank published on Friday results of the March 2015 survey on credit terms and conditions in euro-denominated securities financing and OTC derivatives markets.

The survey considered the three-month reference period ending in February 2015.

The ECB said in the press release published today -

"The survey results show a relatively wide dispersion of answers related to where survey respondents are domiciled. In fact, the overall net tightening of offered prices is almost entirely driven by banks domiciled outside the euro area.”

"The easing of conditions offered was most noticeable for government bonds and the reported decrease of financing rates/spreads was mostly driven by respondents domiciled in the euro area."

"Overall credit terms offered have eased over the past two years. The easing of overall credit terms since the December 2012-February 2013 reference period has been most apparent for hedge funds, banks and dealers, and sovereigns as counterparties."