Credit terms eased for most euro-denominated securities
Credit terms and conditions in euro-denominated securities financing and OTC derivatives markets eased slightly, driven by improved market liquidity and competition.
The easing was primarily driven by terms and conditions for banks and dealers, with price terms easing across all counterparties except hedge funds.
General market liquidity conditions were reported as the main driver of easing, followed by competition from other institutions and the financial strength of counterparties.
Survey respondents expected funding conditions to ease again slightly in the three months ahead, from March to May 2026.