WASHINGTON (MNI) – The following is the text of a release from the
Federal Reserve announcing that it will release a new survey July 13,
called the Senior Credit Officer Opinion Survey. The survey will
provide information on credit in the securities financing and the OTC
derivatives market, July 12:
The results of the inaugural Senior Credit Officer Opinion Survey
on Dealer Financing Terms (SCOOS), a quarterly survey providing
information about the availability and terms of credit in securities
financing and over-the counter (OTC) derivatives markets, will be
released at 2 p.m. EDT July 13, the Federal Reserve Board said Monday.
The SCOOS is modeled after the long-established Senior Loan Officer
Opinion Survey on Bank Lending Practices, which provides qualitative
information about changes in supply and demand for loans to households
and businesses at commercial banks. The new survey collects qualitative
information on credit terms and conditions in securities financing and
OTC derivatives markets, which are important conduits for leverage in
the financial system.
The survey panel for the SCOOS includes approximately 20 dealers
and may be expanded to include other firms over time. These firms
account for almost all of the dealer activity in dollar-denominated
securities financing and OTC derivatives markets. As discussed in the
initial Federal Register notice on December 15, 2009, the survey is
directed to senior credit officers responsible for maintaining a
consolidated perspective on the management of credit risks.
The inaugural survey was conducted in late May and early June.
Results will include a narrative summary and tables showing the
distribution of responses to each question.
** Market News International Washington Bureau: 202-371-2121 **
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