FRANKFURT, July 10 Credit costs for securities
financing and derivatives transactions were little changed in
the three months to the end of May, a European Central Bank
survey released on Thursday showed.
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
* Credit terms for funding that is collateralised by
euro-denominated securities eased further for many types of
collateral, albeit to a lesser extent than during the previous
"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)