Dealer financing terms were unchanged in the September survey
The Federal Reserve Board's September 2026 Senior Credit Officer Opinion Survey on Dealer Financing Terms collected qualitative information on securities financing and OTC derivatives markets between June 2026 and August 2026. Seventeen institutions participated. Price and nonprice terms were basically unchanged, on net, across all counterparty types. Four of 17 dealers, or 23.5 percent, said hedge funds' efforts to negotiate more favorable terms increased somewhat. Eight of 15 dealers that answered the 10-year leverage question, or 53.3 percent, said current hedge-fund leverage was somewhat higher than the midpoint of the past decade.
- Institutions participating
- 17
- Dealers reporting somewhat increased hedge-fund negotiation intensity
- 4
- Share reporting somewhat increased hedge-fund negotiation intensity
- 23.5%
- Dealers placing hedge-fund leverage somewhat above the 10-year midpoint
- 8
- Share placing hedge-fund leverage somewhat above the 10-year midpoint
- 53.3%
Source: Senior Credit Officer Opinion Survey, September 2026 — Board of Governors of the Federal Reserve System. Also: Senior Credit Officer Opinion Survey on Dealer Financing Terms, release index.
all 5 figures found at the source
- found Institutions participating = 17 — at Board of Governors of the Federal Reserve System
- found Dealers reporting somewhat increased hedge-fund negotiation intensity = 4 — at Board of Governors of the Federal Reserve System
- found Share reporting somewhat increased hedge-fund negotiation intensity = 23.5% — at Board of Governors of the Federal Reserve System
- found Dealers placing hedge-fund leverage somewhat above the 10-year midpoint = 8 — at Board of Governors of the Federal Reserve System
- found Share placing hedge-fund leverage somewhat above the 10-year midpoint = 53.3% — at Board of Governors of the Federal Reserve System
This page is one print. The daily brief for September 24, 2026 is the editor's cut of what mattered that day. Figures are as the named sources printed them. The methodology says how this page is made and what is checked.