SESFOD@10 – credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets since 2013

Simon Kördel and Philippe Molitor

Economic Bulletin Articles, 2023, vol. 6

Abstract: The survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD) is a qualitative survey which collects information on the credit terms and conditions offered by large banks active in the targeted euro-denominated markets. On the tenth anniversary of the launch of SESFOD in 2013, this article assesses the information value of the survey and its leading indicator properties. It analyses the underlying individual responses over time and the drivers of aggregate developments. While changes are infrequent, they may have highly significant effects on financial stability, market functioning and monetary policy. More specifically, information on changes in the cost and availability of funding in wholesale markets, and in repo markets in particular, may support the analysis of monetary policy transmission and interbank funding conditions. JEL Classification: G10, G21, G23, C83

Keywords: Financial stability; market functioning; monetary policy (search for similar items in EconPapers)
Date: 2023-09
Note: 521888
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbart:2023:0006:3

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