On a quarterly basis, the ECB published the.....>

ECB: On a quarterly basis, the ECB published the "survey on credit terms and

conditions in the euro-denominated securities financing and over-the-counter

derivatives market". A mouthful that is abbreviated to a still awful, SESFOD.

- The Sept 2017 survey was just out and showed few changes. The only notable

development was "Survey respondents did, however, report less favourable

non-price terms and conditions in new or renegotiated OTC derivatives master

agreements. The implementation of new European Market Infrastructure Regulation

(EMIR) margin requirements for OTC derivative contracts not cleared by a central

counterparty (CCP) was cited as the main driver of the less favourable contract

terms."