Tougher OTC trading conditions to persist, say European banks

Large European dealers in over-the-counter derivatives and securities financing transactions (SFTs) severely tightened credit terms and conditions for trading for all counterparties in Q2. Most said these would become even more onerous through the three months to end-September.

The survey of 28 firms conducted by the European Central Bank (ECB), showed “the most widespread tightening since the start of the survey in 2013”. Fifty-five per cent said price and non-price terms tightened either

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