Survey on credit terms and conditions in euro euro-denominated securities financing and OTC derivatives markets (SESFOD)

The survey questions are grouped into three sections:
1. counterparty types – credit terms and conditions for various counterparty types in both securities financing and OTC derivatives markets;
2. securities financing – financing conditions for various collateral types;
3. non -centrally cleared OTC derivatives – credit terms and conditions for various derivative types.

The survey focuses on euro -denominated instruments in securities financing and OTC derivatives markets. For securities financing, th e survey refers to the euro -denominated securities against which financing is provided, rather than the currency of the loan. For OTC derivatives, at least one of the legs of the contract should be denominated in euro.

Survey participants are large banks and dealers active in the targeted euro -denominated markets.

Reporting institutions should report on their global credit terms, so the survey is aimed at senior cr edit officers responsible for maintainmaintainin g an overview of the management of credit risks. Where material differences exist across different business areas – for example example, between traditional prime brokerage and OTC derivatives – responses should refer to the business area generating the most exposure.