SCOOS March 2019, Accessible Version

Accessible version of figures

Senior Credit Officer Opinion Survey on Dealer Financing Terms March 2019

Exhibit 1: Management of Concentrated Credit Exposures and Indicators of Supply of Credit

Net percentage

Date Panel 1: Respondents increasing resources and attention to management of concentrated exposure to: Dealers Panel 2: Respondents increasing resources and attention to management of concentrated exposure to: Central counterparties+ Panel 3: Respondents tightening price terms to: Hedge funds Panel 3: Respondents tightening price terms to: Trading REITs+ Panel 3: Respondents tightening price terms to: Mutual funds+* Panel 4: Respondents tightening price terms to: Insurance companies Panel 4: Respondents tightening price terms to: Separately managed accounts+ Panel 4: Respondents tightening price terms to: Nonfinancial corporations Panel 5: Respondents tightening nonprice terms to: Hedge funds Panel 5: Respondents tightening nonprice terms to: Trading REITs+ Panel 5: Respondents tightening nonprice terms to: Mutual funds+* Panel 6: Respondents tightening nonprice terms to: Insurance companies Panel 6: Respondents tightening nonprice terms to: Separately managed accounts+ Panel 6: Respondents tightening nonprice terms to: Nonfinancial corporations
2010:Q2 55 NA NA NA NA NA NA NA NA NA NA NA NA NA
2010:Q3 10 NA NA NA NA NA NA NA NA NA NA NA NA NA
2010:Q4 15 NA NA NA NA NA NA NA NA NA NA NA NA NA
2011:Q1 25 NA NA NA NA NA NA NA NA NA NA NA NA NA
2011:Q2 25 NA NA NA NA NA NA NA NA NA NA NA NA NA
2011:Q3 76.2 57.15 4.77 NA 16.67 NA NA NA -23.8 NA 5.27 NA NA NA
2011:Q4 90 65 30 0 23.53 5.27 5 35 25 0 16.67 -10.52 -5.26 20
2012:Q1 30 55 -10 -10 -5.88 5 -10.52 -10 -10 -5 -11.11 5 -5 0
2012:Q2 45.46 68.19 4.55 -9.09 17.65 0 -14.28 -4.54 -4.54 -9.09 -5.55 -4.76 -4.76 4.55
2012:Q3 36.37 59.1 0 -4.54 0 -9.52 -4.54 -13.63 0 -13.63 -22.22 -14.28 -9.09 -9.09
2012:Q4 22.73 63.64 4.55 4.55 17.65 4.77 -4.76 0 0 4.55 -5.55 -9.52 -4.76 -9.09
2013:Q1 9.1 59.1 -9.09 -4.54 5.89 -4.76 -5 -18.18 -9.09 0 0 -4.76 -5 -9.09
2013:Q2 4.55 63.64 -9.09 -4.54 -11.76 0 -5 9.1 -9.09 -9.09 -11.11 -4.76 -4.76 0
2013:Q3 22.73 54.55 13.64 9.1 11.77 4.55 4.77 0 4.55 -4.54 22.23 -4.54 0 -13.63
2013:Q4 18.19 45.46 4.55 -4.54 0 0 0 -9.09 -4.54 -4.54 22.23 0 -5 -13.63
2014:Q1 13.64 31.82 0 -4.54 5.89 0 -4.76 0 -9.09 0 16.67 -4.54 -4.76 -9.09
2014:Q2 4.55 18.19 4.55 0 -11.76 0 -4.76 -9.09 -9.09 0 -5.55 -13.63 0 -13.63
2014:Q3 13.64 22.73 -4.54 4.55 0 4.77 5 -4.54 -18.18 0 0 -9.09 0 -9.09
2014:Q4 4.55 18.19 18.19 0 11.77 4.77 0 0 -4.54 0 -5.55 4.55 0 0
2015:Q1 19.05 33.34 4.77 0 0 10 -5 4.77 0 4.77 0 0 5 9.53
2015:Q2 14.29 38.1 19.05 0 5.89 0 0 9.53 0 0 0 -4.76 0 4.77
2015:Q3 10 30 15 10 26.67 0 11.12 10 0 5 6.25 -10 -5.55 5
2015:Q4 9.53 33.34 23.81 14.29 11.77 5 10 19.05 4.77 0 0 -4.76 0 9.53
2016:Q1 19.05 14.29 23.81 14.29 16.67 5 17.65 19.05 4.77 4.77 11.12 0 5.56 9.53
2016:Q2 10 20 0 -5 0 0 -5.88 -5 5 5 11.77 0 0 5
2016:Q3 17.4 4.35 -4.34 0 0 0 0 -4.34 -4.34 4.35 5.27 -4.34 10 0
2016:Q4 0 8.7 4.35 0 5.27 0 0 8.7 -8.69 0 5.27 0 0 -4.34
2017:Q1 4.55 13.64 -4.54 4.55 -5.55 5 -5.26 9.1 0 0 0 0 0 -4.54
2017:Q2 0 8.7 -21.73 -4.34 -5.26 -4.54 -4.76 -4.34 -17.39 -4.34 0 4.55 -4.76 -4.34
2017:Q3 8.7 8.7 -17.39 4.35 -21.05 4.77 0 0 -8.69 0 0 9.53 4.55 -4.34
2017:Q4 0 17.4 -21.73 -4.34 -25 -9.52 -9.52 -4.34 -21.73 0 -15 -14.28 -4.76 0
2018:Q1 0 13.05 -13.04 0 -10 -4.54 -4.76 4.35 -21.73 -8.69 -10 -13.63 -4.76 0
2018:Q2 0 13.05 -13.04 -4.34 -30 0 -4.76 0 -17.39 -4.34 -15 -10 0 -8.69
2018:Q3 -4.34 4.35 -4.34 -8.69 -10.52 0 -4.54 0 -4.34 0 -5.26 -4.76 0 -4.34
2018:Q4 -8.69 30.44 -4.34 0 0 0 -4.76 13.05 -4.34 0 -15 -4.76 0 0
2019:Q1 -4.34 8.7 -8.69 -4.34 -14.28 0 -4.76 4.35 -8.69 0 -4.76 0 0 -8.69

+ Note: Includes mutual funds, exchange-traded funds, pension plans, and endowments.Return to text

* Note: This question was added in the September 2011 survey.Return to text

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Exhibit 2: Use of Financial Leverage

Net percentage

Date Panel 1: Respondents reporting increased use of leverage by: Hedge Funds Panel 2: Respondents reporting increased use of leverage by: Trading REITs Panel 3: Respondents reporting increased use of leverage by: Insurance Companies Panel 4: Respondents reporting increased use of leverage by: Separately Managed Accounts Panel 5: Respondents reporting increased use of leverage by: Mutual Funds Panel 5: Respondents reporting increased use of leverage by: Exchange-Traded Funds Panel 6: Respondents reporting increased use of leverage by: Pension Funds Panel 6: Respondents reporting increased use of leverage by: Endowments
2010:Q2 NA NA NA NA NA NA NA NA
2010:Q3 NA NA NA NA NA NA NA NA
2010:Q4 NA NA NA NA NA NA NA NA
2011:Q1 NA NA NA NA NA NA NA NA
2011:Q2 NA NA NA NA NA NA NA NA
2011:Q3 -42.85 NA NA NA NA NA NA NA
2011:Q4 -55 0 0 -5 0 0 5.27 0
2012:Q1 -20 15 5 5 5 5.56 5.27 5.27
2012:Q2 -22.72 4.55 4.77 -9.52 0 0 0 0
2012:Q3 -4.54 5.89 -4.76 0 0 0 0 0
2012:Q4 9.1 16.67 0 0 4.77 0 4.77 0
2013:Q1 27.28 5.56 4.77 0 0 0 5 0
2013:Q2 22.73 0 0 9.53 4.77 0 0 0
2013:Q3 -18.18 -33.33 -4.54 0 4.77 0 10 0
2013:Q4 -9.09 -33.33 0 0 5 5.56 0 0
2014:Q1 0 -38.88 0 4.77 5 0 0 0
2014:Q2 4.55 -5.55 -4.54 0 5 0 0 0
2014:Q3 22.73 11.77 -4.54 0 0 0 0 0
2014:Q4 0 0 0 0 4.77 0 0 0
2015:Q1 14.29 -5.88 0 0 10 0 0 0
2015:Q2 0 11.77 0 0 5 0 0 0
2015:Q3 -5 0 5 -5.55 5 0 0 0
2015:Q4 9.53 5.89 4.77 0 0 0 0 0
2016:Q1 -4.76 5.89 5 -5.55 0 0 0 0
2016:Q2 -15 6.25 0 0 0 0 0 0
2016:Q3 4.35 5.27 0 0 4.55 0 0 0
2016:Q4 17.4 -5.26 0 0 4.77 0 0 0
2017:Q1 0 0 0 -5.26 0 0 0 0
2017:Q2 4.35 0 0 0 0 0 0 0
2017:Q3 17.4 5.27 0 4.55 4.55 0 0 0
2017:Q4 0 -15 0 0 4.77 4.77 5 5.27
2018:Q1 0 5 0 5 0 0 0 0
2018:Q2 0 5 0 -4.76 5 5.27 0 0
2018:Q3 4.35 5.27 0 0 0 0 0 0
2018:Q4 0 0 0 0 0 0 0 0
2019:Q1 -8.69 -4.76 0 0 0 0 0 0

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Exhibit 3: Measures of Demand for Funding and Market Functioning

Net percentage

Date Panel 1: Respondents reporting increased demand for funding of: High-grade corporate bonds Panel 1: Respondents reporting increased demand for funding of: High-yield corporate bonds Panel 2: Respondents reporting increased demand for funding of: Equities Panel 2: Respondents reporting increased demand for funding of: CMBS* Panel 3: Respondents reporting increased demand for funding of: Agency RMBS Panel 3: Respondents reporting increased demand for funding of: Non-agency RMBS* Panel 4: Respondents reporting increased demand for funding of: Consumer ABS* Panel 5: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: High-grade corporate bonds Panel 5: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: High-yield corporate bonds* Panel 5: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: CMBS Panel 6: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: Agency RMBS Panel 6: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: Non-agency RMBS* Panel 6: Respondents reporting an improvement in liquidity and functioning in the underlying markets for: Consumer ABS*
2010:Q2 NA NA NA NA NA NA NA NA NA NA NA NA NA
2010:Q3 NA NA NA NA NA NA NA NA NA NA NA NA NA
2010:Q4 NA NA NA NA NA NA NA NA NA NA NA NA NA
2011:Q1 NA NA NA NA NA NA NA NA NA NA NA NA NA
2011:Q2 NA NA NA NA NA NA NA NA NA NA NA NA NA
2011:Q3 NA NA NA NA NA NA NA NA NA NA NA NA NA
2011:Q4 0 7.15 0 0 -5.55 -13.33 16.67 -33.33 -50 -45.45 -38.88 -50 -50
2012:Q1 12.5 20 15 15.39 11.77 13.34 18.19 25 18.75 30.77 17.65 21.43 27.28
2012:Q2 16.67 18.75 4.55 -7.69 45 18.75 0 0 -6.25 -7.69 -5 0 8.34
2012:Q3 0 11.12 4.55 14.29 25 37.5 -8.33 10.53 5.89 35.72 10 37.5 8.34
2012:Q4 11.12 0 4.55 15.39 28.58 13.34 0 11.12 5.56 30.77 -9.52 26.67 0
2013:Q1 11.77 25 13.64 38.47 40 64.29 0 11.77 17.65 23.08 0 21.43 20
2013:Q2 21.06 33.34 9.1 28.58 10 40 14.29 21.06 5.56 14.29 -10 20 7.15
2013:Q3 0 6.67 0 0 -26.31 13.34 0 -22.22 6.25 -30.76 -26.31 -40 -30.76
2013:Q4 5.89 6.25 -4.76 30.77 5 33.34 7.7 5.89 -6.25 23.08 -5 20 7.7
2014:Q1 0 0 0 15.39 0 43.75 0 10.53 11.12 15.39 5 33.34 -7.69
2014:Q2 5.27 11.77 9.53 13.34 15 43.75 7.15 5.27 5.89 20 -5 31.25 0
2014:Q3 -5.26 11.12 0 21.43 0 35.72 0 0 0 7.15 0 7.15 0
2014:Q4 0 23.53 4.77 12.5 5 33.34 6.67 -5.55 11.77 0 -15 6.67 0
2015:Q1 -5.88 25 9.53 16.67 5.56 28.58 8.34 -5.88 -6.25 0 0 14.29 0
2015:Q2 -5.55 11.77 19.05 7.15 0 28.58 14.29 0 -11.76 7.15 -10.52 7.15 0
2015:Q3 -12.5 5.89 10 0 11.12 33.34 0 -18.75 -35.29 -30.76 -16.66 -6.66 -30.76
2015:Q4 -5.88 17.65 0 14.29 10.53 26.67 15.39 17.65 -11.76 -21.42 -15.78 -6.66 -15.38
2016:Q1 11.12 22.23 -19.04 -16.66 0 14.29 9.1 -22.22 -50 -50 -27.77 -50 -45.45
2016:Q2 5.56 12.5 10 9.1 11.12 21.43 18.19 5.56 0 -18.18 11.12 0 0
2016:Q3 15.79 21.06 14.29 0 14.29 26.67 16.67 5 -15 13.34 4.55 6.67 28.58
2016:Q4 0 21.06 23.81 6.25 5 0 7.7 -5 0 18.75 -4.76 6.25 20
2017:Q1 5.27 20 30 -6.66 5.27 0 0 14.29 0 13.34 -5 26.67 35.72
2017:Q2 -10 10 47.62 -25 4.77 12.5 -8.33 13.64 20 18.75 4.55 37.5 15.39
2017:Q3 9.53 5.27 4.77 0 -4.76 0 6.67 0 -5.26 11.77 4.77 5.89 0
2017:Q4 9.1 5 28.58 -12.5 4.77 -12.5 0 0 0 12.5 0 12.5 16.67
2018:Q1 9.1 5.27 19.05 -6.25 9.53 -6.25 -14.28 0 -10.52 6.25 4.77 0 13.34
2018:Q2 9.53 -5.26 -19.04 -6.25 0 0 -12.5 0 -5.26 -6.25 4.77 0 0
2018:Q3 8.7 4.77 -28.57 -5.88 9.53 0 0 8.7 -4.76 5.89 4.77 -5.55 5.89
2018:Q4 4.55 10.53 -14.28 0 19.05 11.77 12.5 -9.09 -5.26 -17.64 0 -5.88 -11.76
2019:Q1 0 5.27 -23.8 -6.25 10 0 6.25 0 -5.26 6.25 0 11.77 5.89

* Note: This question was added in the September 2011 survey.Return to text

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Last Update: March 28, 2019