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First quarter SCOOS posted
The March 2020 Senior Credit Officer Opinion Survey (SCOOS) on Dealer Financing Terms has been posted by the Federal Reserve Board. It collected qualitative information on changes over the previous three months in credit terms and conditions in securities financing and over-the-counter (OTC) derivatives markets. In addition to the core questions, the survey included a set of special questions related to bifurcation of spreads in corporate bond and collateralized loan obligations markets during the second half of 2019. The 22 institutions participating in the survey account for almost all dealer financing of dollar-denominated securities to nondealers and are the most active intermediaries in OTC derivatives markets. The survey was conducted during the period between February 11, 2020, and February 25, 2020, and closed before the recent period of high market volatility related to COVID-19. The core questions asked about changes between December 2019 and February 2020.