Federal Reserve Economic Data

Hedge Funds (Questions 4-10)

6) To the extent that the price or nonprice terms applied to hedge funds have tightened or eased over the past three months (as reflected in your responses to questions 4 and 5), what are the most important reasons for the change?

The Senior Credit Officer Opinion Survey on Dealer Financing Terms (SCOOS) is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter (OTC) derivatives markets, which are important conduits for leverage in the financial system. The participating institutions account for most of the dealer financing of dollar-denominated securities to non-dealers and are the most active intermediaries in OTC derivatives markets. The survey is directed to senior credit officers responsible for maintaining a consolidated perspective on the management of credit risks. For further information, please refer to the SCOOS release at the Board of Governor’s website: www.federalreserve.gov/data/scoos.htm.

IMPORTANT: Although the raw data series are constructed as counts for each offered response to a survey question, the data are intended to be viewed as grouped by question, rather than by individual responses. We recommend that it be accessed through the below release table for appropriate context.

For questions on the data, please contact the data source: https://www.federalreserve.gov/apps/ContactUs/feedback.aspx?refurl=/data/scoos%
For questions on FRED functionality, please contact: https://fred.stlouisfed.org/contactus/

   

Please select a date range

    Q1 2012    
 
 
    Q2 2025
Number of Respondents
Name Q2 2025 Q1 2025 Q2 2024
A. Possible reasons for tightening
1. Deterioration in current or expected financial strength of counterparties
First in Importance 		2 1 1
2nd Most Important 		0 0 0
3rd Most Important 		0 0 0
2. Reduced willingness of your institution to take on risk
First in Importance 		0 0 0
2nd Most Important 		1 0 0
3rd Most Important 		0 0 0
3. Adoption of more-stringent market conventions (that is, collateral terms and agreements, ISDA protocols)
First in Importance 		0 0 0
2nd Most Important 		0 0 0
3rd Most Important 		1 0 0
4. Higher internal treasury charges for funding
First in Importance 		1 0 0
2nd Most Important 		0 0 0
3rd Most Important 		0 0 0
5. Diminished availability of balance sheet or capital at your institution
First in Importance 		0 0 0
2nd Most Important 		0 0 0
3rd Most Important 		0 0 0
6. Worsening in general market liquidity and functioning
First in Importance 		0 0 0
2nd Most Important 		1 0 0
3rd Most Important 		0 1 0
7. Less-aggressive competition from other institutions
First in Importance 		0 1 0
2nd Most Important 		0 1 0
3rd Most Important 		0 0 0
B. Possible reasons for easing
1. Improvement in current or expected financial strength of counterparties
First in Importance 		0 0 0
2nd Most Important 		0 0 0
3rd Most Important 		0 0 0
2. Increased willingness of your institution to take on risk
First in Importance 		1 1 0
2nd Most Important 		0 0 0
3rd Most Important 		0 0 0
3. Adoption of less-stringent market conventions (that is, collateral terms and agreements, ISDA protocols)
First in Importance 		0 0 0
2nd Most Important 		1 1 0
3rd Most Important 		0 0 0
4. Lower internal treasury charges for funding
First in Importance 		0 0 0
2nd Most Important 		0 0 0
3rd Most Important 		0 0 0
5. Increased availability of balance sheet or capital at your institution
First in Importance 		0 0 0
2nd Most Important 		0 0 0
3rd Most Important 		0 0 0
6. Improvement in general market liquidity and functioning
First in Importance 		0 1 0
2nd Most Important 		0 0 0
3rd Most Important 		0 0 0
7. More-aggressive competition from other institutions
First in Importance 		0 1 1
2nd Most Important 		0 1 0
3rd Most Important 		0 0 0
   

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