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The ECB's June survey of credit terms and
conditions in euro-denominated securities financing and
over-the-counter (OTC) derivatives markets showed that:
* Price terms remained almost unchanged for most counter-party
types except hedge funds.
* Non-price credit terms eased for banks, dealers and hedge
funds, but on balance remained basically unchanged for other
counterparty types.
* Credit terms for funding that is collateralized by
euro-denominated securities eased further for many types of
collateral, albeit to a lesser extent than during the previous
reference period.
"The survey suggests that, across the entire range of securities
financing and over-the-counter derivatives transactions, offered
price terms (such as financing rates/spreads) on balance
remained almost unchanged over the three-month reference period
ending in May 2014," the ECB said in a statement.
To revive a sluggish euro zone, the ECB cut interest rates to
record lows in June and introduced a series of measures to pump
money into the economy.
The ECB survey collected information on changes between March
2014 and May 2014. The results are based on responses from a
panel of 28 large banks, comprising 13 euro area banks and 15
banks with head offices outside the euro area.
(Writing by Paul Carrel; Editing by Larry King)
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