欧洲央行：2025年欧元计价证券融资和场外衍生品市场信贷条款和条件调查（SESFOD）报告（英文版）

As a follow up to the recommendation in the Committee on the Global Financial System (CGFS) study group report on “The role of margin requirements and haircuts in procyclicality” published in March 2010,1 the Eurosystem has decided to conduct a quarterly qualitative survey on credit terms and conditions in euro-denominated securities financing and over-the-counter (OTC) derivatives markets. This survey is part of an international initiative to collect information on trends in the credit terms