Statistical Annex
The international banking market Introduction to the BIS locational and consolidated international banking statistics ........................................................................................... page A4 1 2 3 4 5 6 7 8 9 10
BIS reporting banks: Summary of international positions ................................................... A7 External positions of banks in individual reporting countries .............................................. A8 External loans and deposits of banks in individual reporting countries ............................. A16 Local positions in foreign currency of banks in individual reporting countries ................... A20 Currency breakdown of reporting banks’ international positions....................................... A24 External positions of reporting banks vis-à-vis individual countries .................................. A28 External loans and deposits of reporting banks vis-à-vis individual countries ................... A44 International positions by nationality of ownership of reporting banks .............................. A60 Consolidated claims of reporting banks on individual countries........................................ A64 Signed international syndicated credit facilities by nationality of borrower ..................... A110
Securities markets 11 12 13 14 15 16 17 18
International debt securities by residence of issuer........................................................ International debt securities by nationality of issuer ....................................................... International debt securities by type, sector and currency.............................................. International debt securities by residence of issuer........................................................ International debt securities by nationality of issuer ....................................................... Domestic debt securities by sector and residence of issuer ........................................... Debt securities with remaining maturity up to one year .................................................. Announced international equity issues by nationality of issuer .......................................
A113 A114 A118 A120 A122 A124 A126 A128
Derivatives markets 19 20 21 22 23
Amounts outstanding of over-the-counter (OTC) derivatives by risk category and instrument ..................................................................................... Amounts outstanding of OTC foreign exchange derivatives ........................................... Amounts outstanding of OTC single-currency interest rate derivatives........................... Amounts outstanding of OTC equity-linked and commodity derivatives.......................... Derivative financial instruments traded on organised exchanges by instrument and location .............................................................................................
A131 A131 A133 A134 A136
Notes to tables ........................................................................................................................ A138
BIS Quarterly Review, September 2011
A1
The international banking market 1
Introduction to the BIS locational and consolidated international banking statistics ........................................................................................... page A4 1
BIS reporting banks: Summary of international positions ............................................ A7
2 A B C D
External positions of banks in individual reporting countries In all currencies vis-à-vis all sectors .................................................................................. A8 In all currencies vis-à-vis the non-bank sector ................................................................. A10 In foreign currencies vis-à-vis all sectors ......................................................................... A12 In foreign currencies vis-à-vis the non-bank sector .......................................................... A14
3 A B
External loans and deposits of banks in individual reporting countries In all currencies vis-à-vis all sectors ................................................................................ A16 In all currencies vis-à-vis the non-bank sector ................................................................. A18
4 A B
Local positions in foreign currency of banks in individual reporting countries Vis-à-vis all sectors.......................................................................................................... A20 Vis-à-vis the non-bank sector........................................................................................... A22
5 A B C D
Currency breakdown of reporting banks’ international positions Cross border positions vis-à-vis all sectors ...................................................................... Cross border positions vis-à-vis the non-bank sector ....................................................... Cross border positions vis-à-vis official monetary institutions........................................... Local positions in foreign currency vis-à-vis all sectors and vis-à-vis the non-bank sector .........................................................................................................
A24 A25 A26 A27
6 A B
External positions of reporting banks vis-à-vis individual countries Vis-à-vis all sectors.......................................................................................................... A28 Vis-à-vis the non-bank sector........................................................................................... A36
7 A B
External loans and deposits of reporting banks vis-à-vis individual countries Vis-à-vis all sectors.......................................................................................................... A44 Vis-à-vis the non-bank sector........................................................................................... A52
8 A B
International positions by nationality of ownership of reporting banks Amounts outstanding ....................................................................................................... A60 Estimated exchange rate adjusted changes ..................................................................... A62
9 A B C D E
Consolidated claims of reporting banks on individual countries International and foreign claims by maturity and sector.................................................... A64 Foreign claims by nationality of reporting banks, immediate borrower basis .................... A72 Foreign claims by sector and type, ultimate risk basis ..................................................... A84 Foreign claims by nationality of reporting banks, ultimate risk basis ................................ A88 Foreign exposures on selected individual countries, ultimate risk basis ........................ A100
10
Signed international syndicated credit facilities by nationality of borrower ........... A110
1
More detailed data and a full set of historical time series are available on the BIS website under http://www.bis.org/statistics/bankstats.htm.
BIS Quarterly Review, September 2011
A3
Introduction to the BIS locational and consolidated international banking statistics The BIS collects and disseminates two different sets of international banking data, both based on information provided by banks. The first set of data is known as the locational statistics and is presented in Annex Tables 1–8B. These statistics were originally introduced in 1964 to monitor the development of eurocurrency markets, although in practice comprehensive locational data are only available from 1977. The second set, known as the consolidated statistics, is shown in Annex Tables 9A–9D. They were launched in a comprehensive form in 1983 following the onset of the Mexican debt crisis, with the main purpose of monitoring industrial country banks’ exposure to developing countries. Once differences in reporting regimes are taken into account, the two sets of data may be used to complement one another in economic analysis. The basic characteristics of the two data sets are summarised in the table below. The locational reporting system collects quarterly data on the gross international financial claims and liabilities of banks resident in a given country. The main purpose of the statistics is to provide information on the role of banks and financial centres in the intermediation of international capital flows. The reporting system is currently comprised of 43 countries (see the table overleaf). The key organisational criteria are the country of residence of the reporting banks and their counterparties as well as the recording of all positions on a gross basis, including those vis-à-vis own affiliates. This methodology is consistent with the principles underlying the compilation of national accounts, balances of payments and external debt statistics. The currency detail supplied by the reporting countries allows the approximation of capital flows, adjusted for exchange rate fluctuations. The consolidated banking statistics report banks’ on-balance sheet financial claims (ie contractual lending) vis-à-vis the rest of the world and provide a measure of the risk exposures of lenders’ national banking systems. The data cover contractual (immediate borrower) and ultimate risk lending by the head office and all its branches and subsidiaries on a worldwide consolidated basis, net of inter-office accounts. Reporting of lending in this way allows the allocation of claims to the bank entity that would bear the losses as a result of default by borrowers. The consolidated statistics also provide information on the maturity (ie liquidity) and sector risk distribution of banks’ contractual lending. Furthermore, to reflect the fact that banks’ country risk exposure can differ substantially from that of contractual lending due to the use of risk mitigants such as guarantees and collateral, reporting countries provide information on claims on an ultimate risk basis (ie
Data characteristics
Locational
Consolidated
(Tables 1–8 B)
(Tables 9 A–9 D)
Creditor reporting basis
Residence (host country)
Nationality (home country)
Number of reporting countries
43
30
Frequency
Quarterly since 1977
Quarterly since March 20001
Reported data
External claims and liabilities
Worldwide consolidated claims
Inter-office netting-out
No
Yes
Type of counterparty
Immediate borrower
Immediate (contractual) and ultimate borrower
Yes Yes Yes (loans, deposits, securities) No Yes (bank, non-banks)
Yes No No Yes Yes (banks, non-banks, public)
Composition of claims by: Country of borrower Currency Type of instrument Maturity Sector 1
A4
Semiannual available since 1983.
BIS Quarterly Review, September 2011
contractual claims net of guarantees and collateral) since June 1999. A finer breakdown of BIS reporting banks’ foreign claims on an ultimate risk basis, and information about derivatives, credit commitments and guarantees are provided as of 2005 Q1. The consolidated statistics became available on a quarterly basis in March 2000; previously, the statistics were collected semiannually. There are currently 30 countries reporting these data (see the table below). Because more countries contribute to the locational bank lending data, one would expect the measure of outstanding debt as reported by the locational data to exceed that of the consolidated data. However, the reporting of worldwide positions in the consolidated data tends to compensate for this. While the locational statistics are appropriate for measuring lending flows in a given period, the consolidated statistics are more suited to gauging the size of banks’ country and liquidity risk exposures. The detailed maturity and sector breakdowns of the consolidated statistics can be used to supplement the locational data.
Reporting countries providing locational banking data First year of joining followed by first period of data availability in brackets Australia (1997, Q4 1997)
Germany (1977, Q4 1977)
Netherlands (1977, Q4 1977)
Austria (1977, Q4 1977)
Greece (2003, Q4 2003)
Netherlands Antilles (1983, Q4 1983)
Bahamas (1983, Q4 1983) 1
Guernsey (2001, Q4 2001)
Norway (1983, Q4 1983)
Bahrain (1983, Q4 1983)
Hong Kong SAR (1983, Q4 1983)
Panama (2002, Q4 2002)
Belgium (1977, Q4 1977) Bermuda (2002, Q4 2002)
India (2001, Q4 2001) Ireland (1977, Q4 1977)
Portugal (1997, Q4 1997) Singapore (1983, Q4 1983)
Brazil (2002, Q4 2002)
Isle of Man (2001, Q4 2001)
South Africa (2009, Q3 2009)
Canada (1977, Q4 1977) Cayman Islands (1983, Q4 1983)
Italy (1977, Q4 1977) Japan (1977, Q4 1977)
Spain (1983, Q4 1983) Sweden (1977, Q4 1977)
Chile (2002, Q4 2002)
Jersey (2001, Q4 2001)
Switzerland (1977, Q4 1977)
Chinese Taipei(2000, Q4 2000) Cyprus (2008, Q4 2008)
Korea (2005, Q1 2005) Luxembourg (1977, Q4 1977)
Turkey (2000, Q4 2000) United Kingdom (1977, Q4 1977)
Denmark (1977, Q4 1977)
Macao SAR (2006, Q4 2003)
United States (1977, Q4 1977)
Finland (1983, Q4 1983)
Malaysia (2008, Q4 2007)
France (1977, Q4 1977)
Mexico (2003, Q4 2003)
Reporting countries providing consolidated banking data First year of joining followed by first period of data availability in brackets Australia (2003, Q4 2003)
Germany (1983, Q4 1983)
Norway (1994, Q2 1994)
Austria (1983, Q4 1983) Belgium (1983, Q4 1983)
Greece (2003, Q4 2003) Hong Kong SAR (1997, Q4 1997) 2
Panama (2002, Q4 2002) 2 Portugal (1999, Q4 1999)
Brazil (2002, Q4 2002)2
India (2001, Q4 2000)
Singapore (2000, Q4 2000)
Canada (1983, Q4 1983)
Ireland (1983, Q4 1983)
Spain (1985, Q4 1985)
Chile (2002, Q4 2002) Chinese Taipei (2000, Q4 2000)
Italy (1983, Q4 1983) Japan (1983, Q4 1983)
Sweden (1983, Q4 1983) Switzerland (1983, Q4 1983)
Denmark (1983, Q4 1983) 2
Luxembourg (1983, Q4 1983) 2
Turkey (2000, Q4 2000)
Finland (1985, Q4 1985) France (1983, Q4 1983)
Mexico (2003, Q4 2003) 2 Netherlands (1983, Q4 1983)
United Kingdom (1983, Q4 1983) United States (1983, Q4 1983)
1
Semi-annual reporting.
2
Provides only consolidated banking statistics on an immediate borrower basis.
______________________________________________________
For a more detailed analysis, see the special feature “The BIS consolidated banking statistics: structure, uses and improvements” in September 2005 BIS Quarterly Review.
BIS Quarterly Review, September 2011
A5
Table 1: BIS reporting banks Summary of international positions In billions of US dollars Positions A. Total assets
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
35,363.0
33,838.1
33,925.4
35,310.9
–2,343.8
932.5
9.5
741.1
–466.2
537.9
claims on banks
22,279.7
21,089.2
20,940.3
21,759.4
–1,727.7
427.5
154.9
304.1
–397.5
290.7
claims on non-banks
13,083.4
12,748.9
12,985.1
13,551.5
–616.1
505.0
–145.5
437.1
–68.7
247.2
31,292.0
30,078.6
30,123.9
31,385.0
–1,957.3
838.7
41.2
616.4
–416.8
491.4
claims on banks
20,290.4
19,255.5
19,116.9
19,860.8
–1,526.5
395.3
163.8
242.1
–379.2
254.0
claims on non-banks
11,001.6
10,823.1
11,007.0
11,524.2
–430.8
443.4
–122.6
374.3
–37.6
237.3
1. Loans and deposits
22,902.5
21,661.1
22,031.3
22,979.0
–1,717.0
931.2
208.3
355.9
–59.6
445.9
16,589.7
15,665.3
15,657.2
16,269.5
–1,254.2
536.5
184.8
145.9
–106.3
250.5
claims on non-banks
6,312.7
5,995.8
6,374.2
6,709.5
–462.8
394.7
23.5
210.1
46.7
195.5
2. Holdings of securities and other assets
8,389.5
8,417.4
8,092.6
8,405.9
–240.4
–92.5
–167.0
260.5
–357.2
45.4
claims on banks
3,700.7
3,590.2
3,459.7
3,591.4
–272.3
–141.2
–20.9
96.3
–272.9
3.7
claims on non-banks
4,688.9
4,827.2
4,632.8
4,814.5
32.0
48.7
–146.1
164.2
–84.3
41.7
4,071.0
3,759.6
3,801.5
3,925.9
–386.5
93.9
–31.8
124.7
–49.4
46.5
claims on banks
1,989.3
1,833.7
1,823.4
1,898.6
–201.2
32.2
–8.9
61.9
–18.3
36.7
claims on non-banks
2,081.7
1,925.8
1,978.1
2,027.3
–185.3
61.6
–22.9
62.8
–31.1
9.9
34,006.7
32,338.3
32,740.6
34,232.1
–2,508.9
1,056.7
59.1
833.8
–292.1
718.4
24,338.2
23,176.6
23,136.1
24,204.0
–1,902.0
479.3
26.9
515.6
–366.0
489.5
9,668.5
9,161.7
9,604.5
10,028.1
–606.9
577.5
32.2
318.2
73.9
228.9
29,192.8
28,131.4
28,468.3
29,730.4
–1,815.2
909.8
53.0
635.7
–270.2
571.8
21,461.3
20,849.8
20,841.1
21,786.2
–1,299.5
482.4
28.7
396.7
–305.3
413.4
7,731.5
7,281.6
7,627.3
7,944.2
–515.7
427.4
24.4
239.0
35.2
158.4
1. Loans and deposits
24,467.4
23,113.4
23,271.9
24,271.4
–1,883.9
799.9
38.9
352.6
49.7
459.3
liabilities to banks
17,442.6
16,523.5
16,284.5
17,007.9
–1,358.8
321.0
5.3
139.2
–52.6
325.9
7,024.8
6,589.9
6,987.4
7,263.5
–525.1
478.9
33.6
213.4
102.3
133.4
4,725.4
5,018.0
5,196.3
5,458.9
68.7
109.9
14.2
283.0
–319.9
112.5
4,018.7
4,326.2
4,556.6
4,778.2
59.3
161.5
23.4
257.5
–252.8
87.5
706.7
691.7
639.8
680.7
9.4
–51.6
–9.2
25.6
–67.1
25.0
foreign currency
4,813.9
4,206.9
4,272.2
4,501.7
–693.7
146.9
6.1
198.1
–21.9
146.6
liabilities to banks
2,876.9
2,326.8
2,295.0
2,417.8
–602.5
–3.2
–1.8
118.9
–60.6
76.0
liabilities to non-banks
1,937.0
1,880.1
1,977.2
2,083.9
–91.2
150.1
7.8
79.2
38.7
70.6
B. External assets
claims on banks
C. Local assets in foreign currency
D. Total liabilities liabilities to banks liabilities to non-banks E. External liabilities liabilities to banks liabilities to non-banks
liabilities to non-banks 2. Own issues of securities and other liabilities liabilities to banks liabilities to non-banks F. Local liabilities in
BIS Quarterly Review, September 2011
A7
Table 2A: External positions of banks in all currencies vis-à-vis all sectors In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All countries
31,292.0
30,078.6
30,123.9
31,385.0
–1,957.3
838.7
41.2
616.4
–416.8
491.4
260.1 497.9 514.4 203.9 969.0
230.9 459.9 436.2 179.6 841.9
255.4 407.2 487.9 176.4 744.0
271.5 455.9 519.4 157.3 749.5
–58.9 –53.6 –81.0 –25.8 –150.5
16.7 –30.0 52.3 –1.2 –55.4
27.0 –7.9 21.3 –10.6 16.9
7.4 –9.5 –16.1 0.4 –36.1
–2.4 –21.9 –12.0 5.9 –10.9
11.7 28.0 30.1 –21.0 –28.7
9.7 60.7 342.5 1,799.2 6.5
8.9 51.8 416.6 1,755.9 7.3
11.0 72.1 445.4 1,761.7 7.7
10.5 81.4 440.8 1,781.8 8.6
–1.0 –9.9 61.6 –46.1 0.6
2.2 19.5 25.7 10.8 0.4
0.5 4.2 2.4 1.1 –0.8
–0.0 0.1 –5.0 5.0 –0.1
1.1 9.0 4.2 37.2 2.5
–0.6 8.5 –8.8 15.6 0.9
169.5 ... 89.2 225.4 113.0
187.8 ... 112.1 193.6 137.4
204.1 19.9 93.5 176.8 319.5
206.5 18.3 95.4 179.6 368.8
17.5 ... 18.4 –36.2 22.1
16.6 – –12.9 –8.3 15.8
–4.1 ... 24.6 –14.1 5.5
7.9 ... –42.4 14.1 25.2
6.1 – 2.6 –18.0 –2.3
1.3 –2.1 –2.0 –5.6 34.7
France Germany Greece Guernsey Hong Kong SAR
2,599.9 3,389.9 184.8 245.9 788.5
2,576.0 3,130.1 239.7 202.3 747.8
2,491.9 2,687.8 171.6 192.1 829.8
2,667.5 2,772.2 173.3 203.2 845.5
–99.4 –328.7 46.4 –46.7 –44.4
47.6 –169.6 –44.2 –6.7 80.3
–104.4 –12.6 –9.0 –1.4 –21.4
118.9 –73.7 –18.4 6.1 54.8
–45.9 –45.6 –21.2 –7.7 38.6
60.8 –42.2 –7.0 7.1 9.7
India Ireland Isle of Man Italy Japan
24.7 968.3 81.7 665.0 2,575.8
23.7 914.9 81.2 598.3 2,465.1
29.6 696.2 74.7 579.0 2,821.0
33.0 669.9 73.9 602.7 2,949.9
–1.3 –94.7 –6.5 –88.2 –124.7
6.0 –42.3 –4.0 17.7 306.8
–1.0 –15.5 –1.3 17.6 76.4
5.0 –5.3 0.1 13.7 148.5
–1.8 –32.6 –0.9 –41.1 5.3
3.1 –52.2 –2.7 –8.6 112.3
(JOM) (Others) Jersey Luxembourg Macao SAR
629.1 1,946.7 387.7 981.8 27.6
522.1 1,943.0 329.4 903.3 35.4
590.0 2,231.0 298.1 761.4 45.1
630.9 2,319.0 313.5 802.9 48.9
–102.8 –21.8 –73.5 –102.0 7.1
41.9 264.9 –23.0 –20.6 10.8
3.3 73.2 –14.1 11.0 3.2
30.9 117.6 0.8 8.0 3.5
9.1 –3.8 –10.9 –20.2 1.6
45.7 66.6 7.8 5.5 2.2
Malaysia Mexico Netherlands Netherlands Antilles Norway
26.2 34.2 1,175.3 20.7 109.8
30.4 25.5 1,056.6 20.8 108.8
38.8 34.5 1,115.2 – 101.2
46.9 37.5 1,218.2 – 122.2
3.8 –9.1 –150.9 –0.1 –5.5
8.2 8.5 53.9 –0.3 –5.1
–2.1 8.6 –21.6 –0.8 16.6
6.7 0.4 96.3 0.5 –20.8
–0.8 –0.4 –93.4 0.4 –1.3
7.5 2.2 62.1 ... 17.4
33.5 139.4 794.2 ... 106.8
34.9 161.1 746.8 51.8 98.1
39.2 152.5 824.8 57.3 104.9
40.0 149.6 870.0 49.6 113.3
1.4 16.9 –54.8 –1.2 –9.2
4.4 1.8 62.5 8.5 7.0
0.8 –2.3 44.3 –2.0 –11.3
2.5 –2.0 –1.2 7.5 25.0
1.7 –7.1 –5.3 1.8 –10.4
0.8 –10.7 40.7 –7.4 7.6
Spain Sweden Switzerland Turkey United Kingdom
575.3 365.7 1,115.7 51.6 5,643.1
597.4 349.3 908.2 46.0 5,435.8
499.5 365.9 804.6 32.4 5,510.3
546.0 402.9 790.0 35.0 5,771.4
2.3 –37.5 –232.8 –6.2 –371.0
–66.4 23.9 –92.3 –12.4 182.6
–21.9 14.2 –49.8 –4.3 –6.8
–15.9 0.4 –1.5 –0.3 162.5
–7.5 –16.6 –11.3 –5.1 –124.1
23.1 20.2 –32.2 1.9 105.1
United States (IBFs) (Others)
2,917.7 514.2 2,403.5
3,140.3 669.7 2,470.6
3,582.1 669.1 2,913.0
3,690.7 717.0 2,973.7
196.3 155.1 41.2
442.7 –0.3 443.0
86.3 –118.8 205.2
143.5 67.0 76.5
43.9 13.7 30.2
95.5 46.3 49.2
Australia Austria Bahamas Bahrain Belgium Bermuda Brazil Canada Cayman Islands Chile Chinese Taipei Curacao Cyprus Denmark Finland
Panama Portugal Singapore South Africa South Korea
A8
BIS Quarterly Review, September 2011
Table 2A: External positions of banks in all currencies vis-à-vis all sectors In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Liabilities All countries
29,192.8
28,131.4
28,468.3
29,730.4
–1,815.2
909.8
53.0
635.7
–270.2
571.8
514.1 306.4 518.3 197.8 731.5
592.0 276.2 442.4 174.1 657.4
639.6 253.6 484.3 171.3 617.7
654.0 279.9 516.0 152.9 608.3
29.8 –40.6 –77.7 –25.4 –90.2
45.5 –11.1 43.3 –0.4 –13.2
–1.4 –6.1 25.1 –9.0 36.7
30.9 14.4 –25.2 1.7 –14.4
7.7 –21.1 –18.4 4.0 3.6
6.6 14.0 28.9 –20.2 –34.7
3.5 85.2 274.1 1,803.3 12.3
3.1 71.4 321.7 1,771.1 14.4
3.2 105.1 346.5 1,795.9 13.4
3.3 122.6 363.8 1,820.0 15.8
–0.3 –14.7 33.2 –35.6 2.1
0.1 33.7 23.3 29.3 –1.1
0.0 11.9 –25.3 –0.6 –1.4
–0.9 13.5 12.3 10.5 –1.0
0.9 3.2 23.2 42.5 2.5
0.0 16.8 13.0 20.3 2.5
91.7 ... 81.1 323.6 135.4
81.9 ... 101.1 328.2 177.9
100.3 17.6 81.8 306.8 382.7
104.3 15.1 85.1 310.3 424.6
–10.3 ... 16.1 –4.4 38.6
17.6 – –14.1 –7.6 8.0
5.7 ... 23.2 –17.2 15.7
7.9 ... –43.2 10.6 –2.7
1.5 – 1.6 –18.2 10.4
3.7 –3.0 0.1 –9.2 25.7
France Germany Greece Guernsey Hong Kong SAR
2,501.9 1,824.9 153.4 207.7 504.4
2,397.3 1,721.4 161.2 155.5 498.0
2,422.0 1,803.6 110.1 145.8 604.8
2,569.3 1,806.9 118.7 154.8 623.4
–166.7 –149.2 3.3 –53.9 –9.3
125.9 148.9 –41.2 –12.8 107.5
–83.5 95.4 –26.8 –0.8 11.9
149.5 14.8 –3.1 –1.3 43.7
–27.6 –47.4 –8.9 –7.4 40.1
45.3 –62.2 3.5 6.0 14.2
India Ireland Isle of Man Italy Japan
75.2 1,023.0 59.8 920.7 942.1
89.3 905.9 61.7 858.9 979.9
106.2 582.4 55.2 845.2 1,179.0
108.6 553.4 54.0 912.0 1,175.3
11.6 –153.4 –2.2 –95.5 37.3
14.7 –120.1 –4.6 37.0 161.2
3.3 –25.0 –1.5 12.5 64.9
8.8 –48.2 –0.8 59.1 117.1
–0.4 –78.7 –0.6 –60.5 –5.9
1.8 –52.2 –2.5 18.2 –1.8
235.4 706.7 352.9 682.8 15.9
220.3 759.6 293.3 625.9 20.8
234.5 944.5 258.1 528.3 28.5
237.9 937.3 274.9 557.9 31.5
–13.7 50.9 –72.2 –71.1 4.6
5.1 156.1 –27.6 –18.5 8.2
–5.2 70.0 –15.7 6.0 1.7
30.4 86.7 0.6 –6.6 2.3
0.0 –5.9 –12.7 6.4 2.3
4.9 –6.6 10.1 5.2 1.9
46.6 23.4 1,265.8 20.9 201.3
49.3 23.2 1,233.5 19.2 211.7
55.2 43.0 1,296.5 – 187.8
60.8 49.8 1,380.1 – 208.3
2.3 –0.7 –65.9 –1.9 –3.3
3.3 18.7 108.0 –1.2 –19.4
0.0 6.2 30.4 2.4 5.7
4.0 7.1 88.6 –2.3 –20.0
–0.6 2.4 –79.5 0.8 –0.2
4.8 5.8 39.3 ... 13.4
27.0 203.6 795.4 ... 195.1
26.3 203.2 740.4 43.8 207.8
30.3 173.5 838.3 47.8 197.7
31.1 178.9 877.3 39.6 216.1
–0.6 –6.1 –63.5 –1.1 12.1
4.0 –15.7 103.1 6.4 –11.9
1.1 –15.1 54.2 –1.4 –3.8
3.0 –10.2 –3.5 6.3 3.8
1.0 –1.1 12.5 0.8 –17.1
0.7 –3.7 29.1 –7.7 17.6
Spain Sweden Switzerland Turkey United Kingdom
755.1 421.3 1,030.8 57.9 6,143.2
792.0 474.0 892.1 54.8 5,994.8
754.1 467.0 826.7 82.0 5,902.6
810.8 532.8 804.5 83.1 6,099.9
10.0 –11.3 –165.6 –3.7 –338.6
1.5 –1.7 –54.2 29.0 14.4
–52.6 27.1 –1.4 8.2 –108.1
45.0 –5.0 –24.3 5.4 101.0
7.7 –35.2 –15.8 10.2 –47.9
16.8 47.8 –41.2 –0.3 39.8
United States (IBFs) (Others)
3,662.5 670.9 2,991.6
3,383.3 613.0 2,770.4
3,577.0 605.4 2,971.6
3,940.7 719.5 3,221.2
–281.3 –58.2 –223.1
193.7 –7.0 200.7
0.2 –47.6 47.8
86.6 11.3 75.3
49.9 11.8 38.1
357.4 112.7 244.7
Australia Austria Bahamas Bahrain Belgium Bermuda Brazil Canada Cayman Islands Chile Chinese Taipei Curacao Cyprus Denmark Finland
(JOM) (Others) Jersey Luxembourg Macao SAR Malaysia Mexico Netherlands Netherlands Antilles Norway Panama Portugal Singapore South Africa South Korea
BIS Quarterly Review, September 2011
A9
Table 2B: External positions of banks in all currencies vis-à-vis the non-bank sector Individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All countries
11,001.6
10,823.1
11,007.0
11,524.2
–430.8
443.4
–122.6
374.3
–37.6
237.3
Australia Austria Bahamas Bahrain Belgium
85.0 212.5 30.4 124.1 421.9
64.6 204.5 21.5 109.3 367.8
71.0 197.7 24.1 98.3 306.1
71.4 213.8 20.5 93.2 305.0
–20.0 –14.5 –9.1 –15.2 –65.1
3.3 3.3 2.7 –10.1 –41.4
–0.5 –5.7 26.2 –4.2 6.9
3.4 13.2 –24.9 –2.1 –30.2
3.4 –5.5 –3.0 –1.1 –7.3
–0.7 6.2 –3.9 –5.9 –16.7
Bermuda Brazil Canada Cayman Islands Chile
2.3 8.6 142.0 502.7 1.6
2.3 2.8 157.8 452.4 2.4
3.1 6.0 177.0 433.0 3.4
3.5 9.3 170.7 383.1 3.0
0.0 –6.4 9.0 –50.9 0.8
0.8 3.2 17.4 –18.8 1.0
0.1 –0.9 –6.8 2.2 –1.5
0.1 –1.0 0.1 32.6 0.9
0.4 1.3 13.6 –22.4 0.7
0.4 3.2 –8.2 –50.6 –0.4
Chinese Taipei Curacao Cyprus Denmark Finland
97.8 ... 36.1 57.1 24.4
116.7 ... 56.9 60.9 18.6
137.4 10.1 52.5 60.5 37.1
144.9 9.6 53.0 57.9 70.0
18.7 ... 18.7 2.2 –5.8
20.9 – –1.0 2.1 1.9
1.2 ... –5.6 –4.9 –6.3
8.4 ... –4.8 10.1 0.4
6.7 – 5.8 –0.6 5.7
6.8 –0.6 –2.1 –5.5 30.4
France Germany Greece Guernsey Hong Kong SAR
929.1 1,267.9 61.5 58.8 166.6
853.4 1,177.2 76.8 56.9 161.8
809.6 1,034.2 48.5 54.9 197.6
892.6 1,075.6 51.6 59.7 203.8
–101.9 –99.6 12.4 –3.3 –5.6
–3.1 –82.8 –13.8 –1.3 36.7
–31.3 –19.4 –8.9 –5.5 2.8
46.4 –16.7 –3.4 2.4 17.0
–28.7 –33.1 0.2 1.2 12.9
47.9 –4.4 0.5 4.3 4.7
India Ireland Isle of Man Italy Japan
10.9 488.8 6.9 150.7 1,487.8
11.7 456.6 7.5 152.6 1,603.7
15.8 337.1 6.2 151.2 1,849.2
16.5 322.2 6.1 166.6 1,948.0
0.7 –49.3 –0.2 –3.0 100.2
4.1 –15.0 –0.9 8.2 236.2
0.1 –21.0 –0.9 –1.7 42.8
1.6 –1.9 0.0 5.1 112.5
0.8 –12.9 –0.2 –1.7 –6.1
0.6 –26.8 –0.3 6.7 80.9
(JOM) (Others) Jersey Luxembourg Macao SAR
... 1,487.8 13.6 354.7 8.0
... 1,603.7 13.7 334.2 11.4
... 1,849.2 12.6 279.2 15.0
... 1,948.0 13.5 284.9 19.3
... 100.2 –1.0 –29.9 3.3
... 236.2 –0.8 –21.6 3.8
... 42.8 0.5 2.3 0.9
... 112.5 –0.3 –5.1 0.2
... –6.1 –1.3 –14.0 –0.1
... 80.9 0.6 –6.4 3.9
Malaysia Mexico Netherlands Netherlands Antilles Norway
3.9 3.6 357.1 13.0 33.7
6.7 4.1 395.3 10.5 41.8
6.8 3.9 414.1 – 43.2
7.4 4.2 450.7 – 49.6
2.7 0.5 27.6 –2.4 7.1
–0.1 –0.3 2.0 –0.5 2.1
–1.7 0.8 –31.0 –1.6 –0.4
1.1 –0.7 12.0 1.5 5.6
0.0 –0.3 0.8 0.0 –0.7
0.5 0.3 20.3 ... 5.1
Panama Portugal Singapore South Africa South Korea
16.1 63.8 214.9 ... 43.2
15.8 79.9 219.6 6.6 45.5
18.2 73.5 268.1 6.4 46.1
18.4 69.8 284.3 8.1 49.4
–0.3 13.3 3.3 0.9 2.1
2.3 –0.6 46.2 0.0 0.8
–0.4 –3.1 20.7 0.8 –14.0
2.2 –1.6 –0.4 –1.0 15.9
0.3 –2.6 14.5 –0.1 –3.5
0.2 –7.7 12.9 1.6 3.0
240.2 106.7 162.4 1.9 2,335.8
274.1 98.8 152.5 1.9 2,190.4
219.0 99.5 172.1 2.5 2,367.7
229.8 103.8 183.6 2.6 2,500.5
24.6 –11.6 –12.9 –0.0 –198.4
–41.1 3.8 19.3 0.7 157.5
–18.0 –1.7 6.0 0.4 –61.4
1.7 –0.3 6.2 0.0 131.3
–15.4 2.5 1.7 0.2 29.7
1.2 –0.0 7.9 –0.0 75.7
653.7 36.4 617.4
723.2 35.9 687.4
837.6 39.8 797.8
892.7 42.0 850.8
27.3 –0.8 28.1
116.3 4.0 112.3
21.2 0.5 20.7
36.8 1.4 35.3
20.5 1.5 19.0
51.8 1.9 49.9
Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
A 10
BIS Quarterly Review, September 2011
Table 2B: External positions of banks in all currencies vis-à-vis the non-bank sector Individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Liabilities All countries
7,731.5
7,281.6
7,627.3
7,944.2
–515.7
427.4
24.4
239.0
35.2
158.4
Australia Austria Bahamas Bahrain Belgium
134.2 64.6 181.1 61.6 354.9
76.8 66.6 144.7 58.2 319.1
47.3 62.6 141.9 64.2 289.3
46.5 71.2 29.9 53.6 286.8
–7.4 0.3 –37.9 –3.9 –49.5
–25.8 –0.3 –0.8 6.6 –13.2
–5.1 –1.2 24.3 –4.5 27.4
0.8 2.3 –35.5 2.2 –25.9
–0.6 –0.7 15.2 1.5 –6.5
–1.3 5.2 –113.2 –11.1 –16.2
Bermuda Brazil Canada Cayman Islands Chile
1.6 4.4 66.1 933.5 5.3
1.8 2.3 71.8 835.1 8.9
1.9 2.3 100.0 903.5 6.5
2.1 2.6 121.3 864.5 7.8
0.1 –2.1 1.1 –99.0 3.6
0.1 0.0 27.6 69.6 –2.4
0.2 –0.0 3.4 –14.2 0.6
–0.1 –0.1 13.2 20.9 1.0
0.1 0.6 9.6 29.5 –1.2
0.2 0.3 20.1 –40.0 1.3
Chinese Taipei Curacao Cyprus Denmark Finland
39.8 ... 23.4 32.2 9.8
49.6 ... 24.8 32.3 16.8
57.6 8.7 33.0 41.6 28.2
57.0 6.8 35.5 41.6 51.5
9.6 ... 1.0 –0.8 6.8
7.4 – 9.0 10.0 4.0
0.5 ... 1.6 0.5 0.6
2.9 ... 2.9 8.3 2.9
3.4 – 2.0 –0.8 2.3
–0.8 –2.0 1.5 –2.0 21.5
France Germany Greece Guernsey Hong Kong SAR
147.3 397.4 61.6 63.0 163.1
139.1 310.8 48.1 55.3 174.5
140.7 301.9 30.9 62.4 189.8
155.7 311.4 37.2 64.5 198.3
–13.0 –48.5 –14.3 –10.0 10.4
9.0 7.5 –14.2 1.6 16.7
–5.5 15.7 –10.1 2.3 2.1
15.4 7.9 –3.3 –1.3 7.7
–5.5 –39.8 0.2 –0.2 8.7
8.2 –5.1 4.7 1.3 7.1
India Ireland Isle of Man Italy Japan
52.0 180.0 49.4 57.4 260.4
68.1 150.3 46.5 64.0 230.6
80.3 157.9 41.6 58.2 307.6
80.7 153.9 41.2 68.8 354.1
13.9 –37.0 –6.3 4.4 –30.1
10.4 –2.7 –3.5 –1.7 69.8
1.5 –9.6 –1.9 –0.6 16.7
8.0 –11.3 –0.7 4.4 52.8
–0.7 –7.2 –1.3 –6.5 –7.4
–0.1 –9.6 –1.4 7.0 46.5
(JOM) (Others) Jersey Luxembourg Macao SAR
... 260.4 135.8 170.9 9.8
... 230.6 106.9 173.5 10.5
... 307.6 86.2 143.4 10.0
... 354.1 89.6 154.3 10.8
... –30.1 –34.6 –2.5 0.6
... 69.8 –17.3 –2.3 –0.3
... 16.7 –13.1 1.6 0.0
... 52.8 –2.8 5.9 –0.1
... –7.4 0.3 0.9 0.8
... 46.5 1.4 4.5 0.6
Malaysia Mexico Netherlands Netherlands Antilles Norway
10.4 0.7 249.0 11.6 19.1
13.9 0.9 266.3 11.7 19.5
15.7 1.4 298.7 – 21.1
16.1 2.1 315.0 – 24.7
3.3 0.2 11.5 0.2 –0.8
0.7 0.4 35.8 –2.9 2.0
0.1 –0.0 5.6 0.1 0.9
1.1 0.7 25.2 –0.5 1.2
0.0 –0.2 4.2 1.0 1.3
0.1 0.7 7.2 ... 2.7
Panama Portugal Singapore South Africa South Korea
12.1 29.1 262.2 ... 4.4
15.8 33.7 269.4 6.2 6.9
16.7 26.3 274.0 5.5 4.2
17.1 25.5 286.2 4.7 5.1
3.7 3.4 3.8 0.5 2.5
0.9 –4.9 5.5 –0.5 –2.7
0.2 –7.2 –5.0 –0.5 –1.0
0.8 –2.0 7.7 0.7 0.4
0.4 –0.4 2.7 –0.3 –0.8
0.4 –2.1 8.4 –0.7 0.8
Spain Sweden Switzerland Turkey United Kingdom
101.4 34.1 509.7 5.9 1,817.2
97.6 28.4 483.0 7.2 1,874.8
192.9 32.8 457.9 7.7 1,997.4
212.7 41.7 473.6 7.5 2,131.3
–6.3 –8.0 –37.2 1.1 0.1
100.3 4.2 –16.8 0.9 122.8
3.0 1.6 2.3 –0.7 –8.6
31.7 –1.2 3.0 1.1 84.3
61.8 0.1 –7.8 –0.6 –12.8
9.1 7.1 4.9 –0.4 86.9
United States (IBFs) (Others)
1,004.1 45.8 958.2
859.4 26.6 832.8
875.8 20.5 855.3
981.5 23.0 958.5
–148.7 –19.2 –129.5
16.8 –6.1 23.0
0.3 –2.0 2.3
6.6 –3.7 10.3
–10.2 –1.8 –8.4
104.9 2.4 102.5
BIS Quarterly Review, September 2011
A 11
Table 2C: External positions of banks in foreign currencies vis-à-vis all sectors In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All countries
18,265.6
17,292.8
17,622.0
18,350.3
–1,302.3
580.5
–23.0
433.5
–82.2
436.5
171.6 155.7 514.4 203.9 313.0
134.6 127.2 436.2 179.6 239.6
140.6 122.2 487.9 176.4 215.3
148.0 136.0 519.4 157.3 226.2
–43.7 –30.7 –81.0 –25.8 –77.4
11.8 –6.7 52.3 –1.2 –25.0
25.1 –7.7 21.3 –10.6 4.0
–7.2 2.1 –16.1 0.4 –8.3
7.2 –4.2 –12.0 5.9 –13.5
5.1 11.7 30.1 –21.0 8.6
9.7 56.2 280.6 1,799.1 6.4
8.8 48.5 318.2 1,755.8 6.2
10.9 69.3 351.1 1,761.6 5.9
10.4 77.1 347.4 1,781.8 7.4
–1.0 –7.7 36.6 –46.1 –0.2
2.2 20.2 34.2 10.7 –0.3
0.5 4.8 6.8 1.1 –0.7
–0.1 –0.1 –0.7 5.0 –0.1
1.1 10.6 6.8 37.2 0.7
–0.6 7.1 –5.3 15.6 1.6
Chinese Taipei Curacao Cyprus Denmark Finland
168.8 ... 38.7 200.4 63.3
186.9 ... 37.0 172.4 80.7
203.2 19.9 35.2 154.5 146.8
205.6 18.3 36.5 158.6 175.6
17.3 ... –2.3 –32.0 17.0
16.7 – –1.9 –11.1 23.9
–4.3 ... 1.8 –14.2 –2.7
7.9 ... –3.3 13.3 19.7
6.2 – 1.8 –22.4 21.5
1.3 –2.1 1.0 –2.9 25.5
France Germany Greece Guernsey Hong Kong SAR
799.6 959.9 51.5 199.6 713.1
755.2 872.6 51.2 160.0 675.2
801.2 745.7 39.2 149.9 760.5
822.5 736.2 39.9 159.9 776.2
–59.6 –99.8 –1.3 –37.9 –41.6
41.9 –105.7 –2.5 –8.0 83.5
–23.2 –63.3 –1.2 –1.8 –21.5
62.1 5.1 0.1 7.6 50.0
–23.8 –6.1 –0.9 –9.7 41.5
15.3 –14.4 0.1 7.1 9.6
India Ireland Isle of Man Italy Japan
23.0 469.5 29.0 87.8 1,860.2
22.0 495.2 29.3 70.5 1,877.9
27.6 365.7 27.3 71.4 2,091.8
31.3 338.7 25.2 72.5 2,214.4
–1.2 –1.8 0.1 –18.3 –6.8
5.8 –30.3 –1.4 0.7 246.0
–0.9 –11.3 0.3 3.8 68.4
4.9 –9.4 –0.5 –2.9 122.9
–1.9 –14.6 0.4 –1.2 –3.5
3.2 –32.8 –2.6 0.4 91.0
(JOM) (Others) Jersey Luxembourg Macao SAR
339.1 1,521.1 277.1 311.5 27.4
321.9 1,556.0 222.2 255.9 35.1
362.0 1,729.9 218.8 224.8 44.9
391.1 1,823.3 231.9 237.2 48.8
–17.2 10.4 –58.4 –59.9 7.1
40.1 205.9 1.7 –29.2 10.9
10.1 58.3 –12.7 –11.3 3.2
32.6 90.3 –10.7 8.1 3.5
5.8 –9.3 26.6 –7.7 1.6
29.1 61.9 7.7 10.0 2.2
Malaysia Mexico Netherlands Netherlands Antilles Norway
23.1 21.3 487.5 20.7 92.0
26.8 16.7 414.8 20.8 91.1
33.1 20.0 471.5 – 87.8
40.6 21.3 536.8 – 103.7
3.3 –4.6 –80.7 –0.1 –2.1
6.5 3.3 48.2 –0.3 –1.3
–1.2 0.8 –19.2 –0.8 17.6
4.3 2.3 32.5 0.5 –18.5
–1.0 1.0 8.8 0.4 1.1
7.0 1.1 64.8 ... 13.3
Panama Portugal Singapore South Africa South Korea
33.5 24.7 794.2 ... 106.8
34.9 23.8 746.8 33.0 98.1
39.2 22.8 824.8 33.8 104.9
40.0 22.7 870.0 30.8 113.3
1.4 –1.3 –54.8 1.8 –9.2
4.4 –0.8 62.5 5.9 7.0
0.8 0.7 44.3 –2.6 –11.3
2.5 –1.9 –1.2 2.8 25.0
1.7 –2.9 –5.3 4.7 –10.4
0.8 –0.2 40.7 –3.4 7.6
196.2 295.4 1,000.5 47.8 5,006.8
195.1 292.6 808.8 42.6 4,859.4
179.5 306.0 707.5 29.5 4,954.0
188.7 329.8 693.1 31.4 5,237.5
–7.6 –15.7 –213.9 –5.7 –231.7
–13.6 25.1 –82.2 –12.0 175.3
–7.7 8.5 –39.5 –3.8 6.4
–0.6 –2.8 –3.2 –0.6 152.9
–10.2 –0.5 –10.9 –5.2 –118.3
6.6 11.3 –29.4 1.3 142.8
324.2 45.3 279.0
333.6 42.2 291.4
337.9 53.8 284.1
350.5 51.7 298.8
–24.9 –3.4 –21.5
13.2 11.8 1.4
30.2 8.9 21.3
–14.0 8.6 –22.6
17.0 –1.4 18.4
–0.5 –3.7 3.2
Australia Austria Bahamas Bahrain Belgium Bermuda Brazil Canada Cayman Islands Chile
Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
A 12
BIS Quarterly Review, September 2011
Table 2C: External positions of banks in foreign currencies vis-à-vis all sectors In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Liabilities All countries
17,335.4
16,639.3
16,726.7
17,371.6
–1,007.5
275.1
–237.0
461.8
–159.0
384.3
386.7 97.6 518.3 197.8 263.6
480.4 84.5 442.4 174.1 236.8
517.8 72.4 484.3 171.3 215.0
526.2 85.0 516.0 152.9 223.9
80.5 –15.7 –77.7 –25.4 –30.4
46.5 –14.2 43.3 –0.4 –22.7
–23.9 –6.6 25.1 –9.0 0.4
45.9 7.8 –25.2 1.7 8.9
10.7 –15.4 –18.4 4.0 –9.3
2.7 11.8 28.9 –20.2 7.4
3.3 81.7 209.7 1,803.2 12.0
3.0 67.7 233.4 1,771.1 13.6
3.1 103.5 252.8 1,795.4 11.2
3.2 121.1 274.9 1,819.5 14.5
–0.3 –13.8 22.1 –35.5 1.6
0.2 35.7 21.9 28.9 –2.4
0.1 12.4 –22.2 –0.6 –2.3
–0.9 13.8 9.6 10.5 0.4
0.9 3.2 15.3 42.2 0.5
0.0 17.0 20.5 20.2 3.3
Chinese Taipei Curacao Cyprus Denmark Finland
84.9 ... 34.6 294.3 78.0
74.3 ... 31.2 279.1 106.3
91.9 17.6 32.1 257.1 170.2
94.5 15.1 35.0 259.0 208.5
–10.9 ... –3.8 –23.8 26.4
17.7 – 0.6 –11.6 15.8
4.5 ... –0.4 –19.6 7.2
6.9 ... 0.0 7.6 2.4
3.5 – 0.6 –19.5 20.6
2.3 –3.0 2.7 –7.4 35.1
France Germany Greece Guernsey Hong Kong SAR
950.2 878.1 39.4 171.1 436.2
897.6 810.6 38.2 125.9 418.4
913.4 828.2 31.9 118.3 517.1
910.8 822.0 34.3 126.6 535.2
–66.3 –80.9 –1.4 –43.5 –20.7
9.1 11.0 –6.5 –11.6 99.2
–72.4 10.6 –5.6 –1.0 6.2
61.5 27.3 1.7 0.6 32.9
–7.7 –22.7 0.6 –7.2 40.7
–7.1 –11.9 2.3 6.1 13.7
India Ireland Isle of Man Italy Japan
35.0 537.9 23.5 122.4 560.8
39.6 424.2 23.4 106.4 645.0
44.6 269.6 21.3 95.2 771.4
46.5 242.7 19.3 95.6 826.0
4.1 –133.0 –0.3 –17.4 78.8
5.1 –101.9 –1.6 –11.8 134.8
0.7 –16.7 0.5 –23.8 30.3
3.2 –32.3 –0.7 19.7 91.9
–0.4 –41.9 0.0 –14.8 –0.0
1.6 –31.1 –2.3 0.0 48.7
(JOM) (Others) Jersey Luxembourg Macao SAR
154.2 406.6 260.9 214.2 14.3
148.2 496.8 223.5 191.2 20.3
162.4 609.0 197.6 163.1 27.9
172.2 653.7 213.3 173.1 30.3
–6.0 84.8 –41.4 –26.4 5.6
14.2 120.5 –20.9 –6.8 8.2
–11.2 41.5 –11.5 –8.6 2.0
30.9 61.0 3.0 12.3 2.3
6.1 –6.2 –9.7 1.8 2.3
9.8 39.0 10.8 8.5 1.4
Malaysia Mexico Netherlands Netherlands Antilles Norway
28.8 9.9 654.6 20.9 144.4
27.0 9.5 646.8 19.2 149.6
27.1 15.5 678.0 – 126.3
31.0 20.5 745.0 – 141.2
–2.0 –0.4 –21.6 –1.9 3.2
0.2 6.0 26.2 –1.2 –19.6
0.7 0.6 –37.4 2.4 7.4
0.7 2.1 63.2 –2.3 –20.3
1.3 2.2 –15.7 0.8 –0.2
3.6 5.0 61.0 ... 11.7
Panama Portugal Singapore South Africa South Korea
27.0 30.2 795.4 ... 195.1
26.3 29.4 740.4 23.9 207.8
30.3 27.8 838.3 19.9 197.7
31.1 28.1 877.3 18.1 216.1
–0.6 –1.1 –63.5 1.8 12.1
4.0 –1.4 103.1 1.1 –11.9
1.1 –4.3 54.2 –1.3 –3.8
3.0 1.7 –3.5 1.4 3.8
1.0 –0.6 12.5 1.8 –17.1
0.7 0.3 29.1 –2.1 17.6
254.8 339.9 939.4 44.1 5,250.6
262.1 394.6 799.5 41.0 5,084.1
169.0 391.3 713.8 57.7 5,052.1
147.8 438.6 691.7 64.4 5,285.2
0.1 4.7 –163.3 –3.6 –242.2
–91.5 7.0 –64.3 17.7 61.7
–64.3 16.7 –9.0 5.3 –97.4
15.9 8.9 –20.1 2.4 107.4
–41.7 –25.7 –22.4 7.0 –26.3
–22.4 34.7 –38.2 5.2 98.7
290.5 62.0 228.5
215.9 49.2 166.7
186.7 45.5 141.2
210.5 50.8 159.8
–79.4 –13.1 –66.3
–27.4 –3.1 –24.3
16.3 6.2 10.1
–15.4 0.6 –16.0
–16.1 0.4 –16.4
17.6 3.9 13.7
Australia Austria Bahamas Bahrain Belgium Bermuda Brazil Canada Cayman Islands Chile
Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
BIS Quarterly Review, September 2011
A 13
Table 2D: External positions of banks in foreign currencies vis-à-vis the non-bank sector In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All countries
6,846.6
6,676.2
6,961.3
7,228.2
–279.7
377.5
–41.6
295.8
–29.5
155.5
Australia Austria Bahamas Bahrain Belgium
59.8 61.3 30.4 124.1 132.7
43.9 51.9 21.5 109.3 96.3
45.5 55.0 24.1 98.3 79.8
48.5 59.2 20.5 93.2 82.5
–15.4 –10.2 –9.1 –15.2 –39.5
4.9 2.3 2.7 –10.1 –16.1
1.0 –2.2 26.2 –4.2 1.5
0.3 6.8 –24.9 –2.1 –5.9
2.9 –2.9 –3.0 –1.1 –9.8
2.3 3.3 –3.9 –5.9 0.7
Bermuda Brazil Canada Cayman Islands Chile
2.2 6.0 105.7 502.7 1.5
2.3 0.7 105.9 452.4 2.2
3.1 4.8 132.1 433.0 3.1
3.5 6.5 122.6 383.0 2.8
0.0 –5.2 –0.0 –50.9 0.6
0.8 4.1 26.5 –18.8 0.9
0.1 0.1 4.5 2.2 –1.5
0.1 –1.3 1.9 32.6 0.9
0.4 2.0 13.5 –22.4 0.4
0.4 1.6 –9.9 –50.6 –0.3
Chinese Taipei Curacao Cyprus Denmark Finland
97.4 ... 14.0 47.0 6.6
116.0 ... 13.5 49.6 5.1
136.7 10.1 11.4 49.8 18.7
144.2 9.6 13.4 45.5 30.3
18.3 ... –0.7 1.4 –1.5
21.0 – –2.3 2.0 4.0
1.2 ... 0.1 –6.1 –2.4
8.3 ... –3.3 9.5 –0.3
6.7 – 1.2 –1.3 5.9
6.8 –0.6 1.8 –6.4 11.1
294.1 424.3 15.6 54.7 148.9
275.6 397.9 16.2 52.0 142.3
302.0 339.4 8.0 48.4 173.4
323.2 339.5 9.0 53.2 177.1
–21.2 –30.5 0.5 –2.9 –7.5
24.5 –54.7 1.4 –3.1 32.0
–0.6 –21.4 0.9 –5.7 2.0
31.4 –6.7 –0.0 1.9 14.7
–21.8 –13.9 0.0 1.1 11.9
19.3 –1.8 0.9 4.5 2.2
India Ireland Isle of Man Italy Japan
9.1 244.7 1.5 22.2 1,231.7
10.0 245.3 1.8 17.8 1,367.4
14.0 172.6 1.5 18.5 1,518.4
14.9 166.7 1.5 18.5 1,613.6
0.9 –10.1 0.2 –5.0 115.8
4.0 1.2 –0.2 0.7 177.0
0.1 –11.8 –0.0 –0.7 33.3
1.5 –1.8 –0.1 –0.6 94.0
0.8 –7.1 –0.0 –1.0 –19.5
0.8 –8.1 –0.1 –0.1 70.5
(JOM) (Others) Jersey Luxembourg Macao SAR
... 1,231.7 7.6 127.1 7.8
... 1,367.4 5.9 111.1 11.2
... 1,518.4 5.1 97.3 15.0
... 1,613.6 5.5 96.0 19.2
... 115.8 –1.9 –17.5 3.3
... 177.0 –0.7 –12.2 3.8
... 33.3 0.0 –5.3 0.9
... 94.0 0.2 –0.2 0.2
... –19.5 –0.7 –4.6 –0.1
... 70.5 0.3 –2.1 3.9
Malaysia Mexico Netherlands Netherlands Antilles Norway
1.4 3.3 153.1 13.0 31.8
3.7 2.9 165.4 10.5 39.1
4.1 2.9 179.9 – 40.6
4.5 3.2 194.3 – 46.8
2.2 –0.4 9.6 –2.4 6.8
0.4 –0.1 5.9 –0.5 2.1
–0.7 0.9 –12.4 –1.6 –0.2
0.9 –0.8 3.5 1.5 5.5
–0.1 –0.2 11.4 0.0 –0.7
0.4 0.4 13.2 ... 5.0
Panama Portugal Singapore South Africa South Korea
16.1 6.3 214.9 ... 43.2
15.8 5.5 219.6 4.3 45.5
18.2 5.3 268.1 3.6 46.1
18.4 5.1 284.3 5.7 49.4
–0.3 –0.8 3.3 1.6 2.1
2.3 –0.1 46.2 –0.1 0.8
–0.4 0.3 20.7 0.1 –14.0
2.2 –0.2 –0.4 –0.1 15.9
0.3 –0.4 14.5 –0.1 –3.5
0.2 –0.2 12.9 2.0 3.0
85.0 95.7 134.7 1.8 2,157.6
95.9 86.1 126.3 1.7 2,009.3
87.5 83.1 142.2 2.3 2,145.2
89.4 86.7 152.1 2.4 2,266.3
8.5 –11.7 –10.4 –0.1 –180.4
–7.5 1.0 18.3 0.6 116.7
–4.3 –2.9 6.5 0.4 –51.8
1.1 3.1 3.8 –0.1 105.5
–5.7 1.2 2.2 0.2 9.0
0.5 0.4 7.0 0.0 70.2
108.1 5.0 103.1
119.5 6.8 112.7
113.1 8.2 104.9
116.5 8.6 107.9
–4.3 1.5 –5.8
–4.4 1.5 –5.8
5.6 0.1 5.5
–2.9 1.8 –4.7
4.8 –0.3 5.1
0.0 0.1 –0.1
France Germany Greece Guernsey Hong Kong SAR
Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
A 14
BIS Quarterly Review, September 2011
Table 2D: External positions of banks in foreign currencies vis-à-vis the non-bank sector In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Liabilities All countries
4,959.3
4,661.1
4,911.2
5,038.3
–282.8
285.4
2.3
199.3
19.8
56.6
Australia Austria Bahamas Bahrain Belgium
103.7 12.9 181.1 61.6 108.5
51.0 13.5 144.7 58.2 77.7
25.0 12.1 141.9 64.2 73.5
24.2 14.5 29.9 53.6 72.2
1.2 0.5 –37.9 –3.9 –36.3
–23.4 –1.6 –0.8 6.6 –4.6
–6.5 –0.3 24.3 –4.5 7.0
0.8 1.0 –35.5 2.2 –3.6
–0.6 –2.7 15.2 1.5 –6.6
–1.0 2.3 –113.2 –11.1 –2.0
Bermuda Brazil Canada Cayman Islands Chile
1.5 4.4 48.5 933.4 5.2
1.7 2.0 47.5 835.1 8.6
1.8 2.2 75.9 903.4 6.0
2.0 2.5 103.2 864.5 7.4
0.1 –2.3 –1.8 –99.0 3.5
0.2 0.2 28.8 69.6 –2.6
0.2 –0.0 2.7 –14.2 –0.4
–0.1 –0.0 13.5 20.9 2.1
0.1 0.6 8.4 29.5 –1.6
0.2 0.3 26.8 –40.0 1.4
Chinese Taipei Curacao Cyprus Denmark Finland
33.7 ... 15.0 27.5 2.7
42.7 ... 13.8 27.3 4.1
50.2 8.7 18.3 35.4 15.7
48.2 6.8 19.2 34.4 24.4
8.9 ... –1.3 –0.9 1.4
7.6 – 4.6 8.2 8.8
–0.7 ... –0.2 0.7 2.7
2.0 ... 2.5 8.9 1.8
5.6 – 1.3 –2.7 4.2
–2.2 –2.0 0.8 –2.4 8.2
France Germany Greece Guernsey Hong Kong SAR
50.9 125.6 15.4 45.4 126.0
44.4 76.8 13.6 38.2 130.9
45.1 72.9 7.2 46.5 143.9
40.6 74.7 8.1 48.5 154.1
–7.2 –21.5 –1.9 –7.3 3.8
0.9 –4.2 –6.4 2.3 14.4
–2.8 8.8 –3.1 2.2 1.3
13.7 0.5 –0.3 –0.3 3.1
–7.4 –14.8 –0.1 0.1 9.6
–4.8 1.4 0.9 1.6 8.7
India Ireland Isle of Man Italy Japan
17.7 104.2 18.1 5.5 177.4
24.3 87.7 13.8 4.6 161.1
27.1 79.2 12.3 5.0 227.6
27.4 78.5 11.8 6.1 277.3
6.2 –20.5 –4.3 –1.0 –18.1
3.0 –6.8 –1.2 0.5 68.5
0.4 –4.1 0.1 0.5 15.2
2.2 –6.8 –0.5 –0.3 49.9
0.2 5.6 –0.5 –0.6 –7.2
0.1 –1.7 –0.7 1.1 48.1
(JOM) (Others) Jersey Luxembourg Macao SAR
... 177.4 84.5 54.3 9.4
... 161.1 58.5 53.1 10.2
... 227.6 47.6 51.4 9.6
... 277.3 49.8 52.6 10.4
... –18.1 –26.5 –2.2 0.6
... 68.5 –9.5 –4.1 –0.3
... 15.2 –7.3 –2.3 –0.1
... 49.9 –0.9 2.5 –0.1
... –7.2 0.7 0.6 0.8
... 48.1 1.3 0.8 0.6
Malaysia Mexico Netherlands Netherlands Antilles Norway
2.9 0.5 135.7 11.6 13.3
4.0 0.7 152.0 11.7 12.4
3.4 1.2 164.6 – 14.0
3.8 2.0 182.8 – 17.5
1.0 0.2 14.2 0.2 –1.1
–0.6 0.5 11.5 –2.9 2.0
–0.2 0.0 –3.7 0.1 1.1
0.1 0.6 13.9 –0.5 0.6
0.1 –0.2 2.0 1.0 0.7
0.4 0.8 17.2 ... 2.9
Panama Portugal Singapore South Africa South Korea
12.1 4.6 262.2 ... 4.4
15.8 5.5 269.4 2.9 6.9
16.7 4.0 274.0 1.5 4.2
17.1 3.4 286.2 1.6 5.1
3.7 0.8 3.8 1.0 2.5
0.9 –1.5 5.5 –0.9 –2.7
0.2 –3.0 –5.0 –0.1 –1.0
0.8 0.3 7.7 0.2 0.4
0.4 –0.0 2.7 –0.0 –0.8
0.4 –0.6 8.4 0.1 0.8
33.5 23.0 471.4 4.7 1,559.1
31.6 15.8 441.5 5.6 1,607.7
34.1 17.3 408.3 5.7 1,726.3
29.7 24.3 423.5 5.7 1,858.7
–2.4 –7.8 –39.0 0.8 21.5
2.6 2.3 –20.1 0.4 135.3
–0.2 –2.8 –3.1 –0.1 –2.4
4.2 3.0 3.8 0.5 86.3
–0.4 –0.8 –6.4 –0.8 –14.8
–4.4 6.1 5.7 –0.2 92.9
46.4 8.2 38.2
32.6 4.9 27.7
26.5 5.2 21.3
29.9 6.1 23.8
–14.4 –3.3 –11.1
–5.6 0.3 –6.0
2.8 0.9 1.9
–1.7 0.3 –1.9
–2.1 –0.3 –1.8
2.6 0.7 1.8
Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
BIS Quarterly Review, September 2011
A 15
Table 3A: External loans and deposits of banks in all currencies vis-à-vis all sectors In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans All countries
22,902.5
21,661.1
22,031.3
22,979.0
–1,717.0
931.2
208.3
355.9
–59.6
445.9
88.9 339.8 497.1 203.9 636.2
100.9 316.3 424.5 179.6 563.5
106.0 270.9 474.1 176.4 511.8
118.9 308.2 505.6 157.3 517.7
–1.0 –34.8 –75.3 –25.8 –87.5
5.6 –30.8 50.2 –1.2 –26.6
2.6 –1.2 20.2 –10.6 20.2
3.2 –17.6 –16.0 0.4 –23.4
5.4 –23.8 –12.0 5.9 –1.4
11.2 23.7 30.2 –21.0 –16.2
3.6 34.8 301.4 1,561.3 3.4
3.8 32.9 370.8 1,587.7 5.2
5.3 37.8 380.8 1,620.2 5.0
4.8 43.9 379.3 1,635.8 6.2
0.2 –2.1 58.0 23.5 1.8
1.5 4.2 7.1 36.9 –0.3
0.4 3.4 –3.4 29.9 –0.7
–0.4 –1.1 –4.1 3.5 –0.1
1.1 6.8 –4.7 31.6 0.1
–0.6 5.5 –5.2 11.6 1.2
86.6 ... 53.6 192.2 104.8
84.0 ... 57.7 164.1 112.6
88.2 19.9 49.2 159.9 115.1
86.7 18.3 52.9 164.5 155.9
–3.0 ... 1.9 –31.7 6.0
3.9 – –6.5 2.4 14.4
–1.9 ... 15.6 –10.7 4.0
2.1 ... –21.5 20.7 1.2
2.3 – –2.7 –14.9 23.0
–1.7 –2.1 2.2 –3.0 36.0
France Germany Greece Guernsey Hong Kong SAR
1,472.3 2,310.6 122.5 190.1 547.8
1,425.8 2,096.9 161.0 148.5 501.3
1,496.5 1,809.0 115.3 147.4 572.4
1,603.3 1,839.1 113.6 153.6 593.7
–83.7 –250.5 32.9 –43.6 –48.7
138.0 –83.0 –27.0 1.3 69.8
–57.5 24.9 1.9 1.6 –9.5
108.1 –52.9 –14.8 5.5 42.5
9.3 –20.6 –21.3 0.6 36.2
40.8 –46.2 –7.5 3.4 17.1
India Ireland Isle of Man Italy Japan
22.9 492.3 81.7 300.1 1,133.7
21.9 467.5 81.2 251.0 871.6
27.7 459.8 74.0 250.2 1,028.9
31.1 443.1 73.1 275.6 1,091.8
–1.3 –49.3 –6.5 –56.3 –262.0
5.9 19.9 –4.7 14.1 116.2
–0.8 11.8 –1.9 6.8 53.3
4.9 4.6 0.0 –0.6 29.1
–1.9 –15.7 –0.9 5.4 28.0
3.0 –33.3 –2.7 11.4 63.1
(JOM) (Others) Jersey Luxembourg Macao SAR
629.1 504.6 377.1 690.2 24.6
522.1 349.5 296.6 619.1 31.9
590.0 438.9 245.2 530.8 42.0
630.9 460.9 260.9 573.3 45.8
–102.8 –159.2 –94.3 –86.5 6.7
41.9 74.3 –43.3 –5.7 11.1
3.3 50.1 –18.0 6.2 3.3
30.9 –1.9 –15.7 17.5 3.2
9.1 18.9 –10.6 –7.9 2.0
45.7 17.3 9.5 17.7 2.3
Malaysia Mexico Netherlands Netherlands Antilles Norway
19.0 20.7 794.8 20.7 75.7
21.7 15.4 699.8 20.8 65.6
29.2 13.1 707.7 – 64.2
36.1 11.5 807.1 – 79.9
2.4 –5.5 –115.9 –0.1 –12.2
7.3 –2.4 10.9 –0.3 –0.1
–2.2 0.5 –42.7 –0.8 22.2
5.4 1.2 56.1 0.5 –23.4
–0.4 –0.5 –25.9 0.4 0.5
6.5 –1.8 74.9 ... 13.7
Panama Portugal Singapore South Africa South Korea
25.3 83.9 701.1 ... 80.1
25.8 88.9 688.6 26.0 74.3
29.2 85.1 791.1 30.9 81.4
29.4 86.2 835.7 26.3 83.5
0.6 2.6 –19.9 0.2 –6.1
3.4 1.5 88.4 4.2 7.4
0.6 1.3 31.3 –1.4 –12.2
2.0 –0.4 1.3 2.1 20.9
1.9 –4.1 30.3 2.9 –3.6
0.1 –3.1 40.4 –4.6 1.6
Spain Sweden Switzerland Turkey United Kingdom
347.0 204.9 1,030.2 48.0 4,674.4
335.8 211.3 826.0 42.7 4,417.2
300.8 228.9 736.2 28.7 4,522.9
328.2 258.4 716.2 31.1 4,720.7
–20.6 –3.4 –226.4 –5.8 –387.9
–16.2 22.8 –78.9 –13.0 182.7
–2.6 9.7 –46.8 –4.7 79.2
–14.3 –4.7 –2.0 –0.4 90.5
9.8 –3.8 –9.8 –5.2 –112.6
12.2 19.5 –35.2 1.9 70.1
United States (IBFs) (Others)
2,903.0 514.2 2,388.8
3,123.3 668.8 2,454.5
3,562.3 667.9 2,894.4
3,674.9 716.1 2,958.8
194.0 154.3 39.7
439.9 –0.7 440.6
87.1 –119.0 206.1
142.8 66.6 76.2
41.5 13.7 27.8
99.6 46.6 53.0
Australia Austria Bahamas Bahrain Belgium Bermuda Brazil Canada Cayman Islands Chile Chinese Taipei Curacao Cyprus Denmark Finland
A 16
BIS Quarterly Review, September 2011
Table 3A: External loans and deposits of banks in all currencies vis-à-vis all sectors In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Deposits All countries
24,467.4
23,113.4
23,271.9
24,271.4
–1,883.9
799.9
38.9
352.6
49.7
459.3
126.6 200.1 507.2 197.8 634.3
153.0 190.8 440.7 174.1 580.5
135.0 170.9 478.3 171.3 550.8
157.4 196.6 510.0 152.9 545.8
6.1 –16.0 –68.2 –25.4 –67.5
–20.6 –12.2 39.4 –0.4 –4.6
1.5 –2.8 15.3 –9.0 32.5
–5.9 5.1 –17.2 1.7 –10.3
6.3 –17.4 –10.9 4.0 11.4
20.8 17.3 29.0 –20.2 –27.8
3.0 63.5 269.7 1,628.9 8.8
2.8 54.1 315.1 1,639.3 11.8
2.9 80.7 339.6 1,693.0 8.6
3.0 92.3 356.7 1,719.6 11.2
–0.2 –9.6 31.8 7.6 3.1
0.1 26.6 23.2 56.4 –3.3
0.0 7.8 –25.3 19.7 –1.2
–0.9 9.8 12.3 6.1 –1.2
0.9 0.8 23.2 43.0 –0.2
0.0 10.9 13.0 23.5 2.6
87.4 ... 72.9 212.6 86.7
77.7 ... 95.3 204.5 120.5
95.0 17.6 80.8 200.7 149.3
97.2 15.1 84.1 200.0 175.1
–10.1 ... 18.7 –13.9 32.1
16.5 – –9.6 5.4 14.7
6.5 ... 23.6 –24.0 17.3
6.9 ... –39.6 35.5 –28.4
1.8 – 2.0 –26.6 42.5
2.0 –3.0 0.1 –9.5 20.2
France Germany Greece Guernsey Hong Kong SAR
1,872.3 1,375.3 152.9 197.3 460.5
1,724.4 1,249.9 160.7 149.9 463.5
1,727.4 1,291.8 109.8 133.3 562.9
1,800.8 1,299.0 118.3 142.2 577.9
–191.0 –162.6 3.3 –48.8 0.4
73.0 113.7 –41.0 –13.4 100.0
–93.6 92.6 –26.7 –0.9 9.7
128.6 1.3 –3.1 –0.7 42.3
–17.2 –56.8 –8.8 –8.3 42.3
4.9 –53.6 3.4 6.1 10.9
India Ireland Isle of Man Italy Japan
60.0 1,023.0 59.8 651.0 918.8
66.7 905.9 61.7 609.5 958.9
74.3 582.4 55.0 592.7 1,159.0
76.6 553.4 53.8 651.5 1,152.6
4.9 –153.4 –2.2 –64.2 39.5
6.2 –120.1 –4.9 19.3 162.9
3.8 –25.0 –1.6 –14.0 69.2
2.2 –48.2 –0.8 31.2 113.6
–0.7 –78.7 –0.7 –8.3 –5.4
1.8 –52.2 –2.4 24.9 –4.6
(JOM) (Others) Jersey Luxembourg Macao SAR
235.4 683.4 226.2 655.3 15.8
220.3 738.6 181.7 593.2 20.7
234.5 924.6 164.0 528.3 28.3
237.9 914.7 178.2 557.9 30.8
–13.7 53.1 –41.9 –75.2 4.5
5.1 157.8 –12.2 –19.1 8.1
–5.2 74.3 –15.7 6.2 1.7
30.4 83.2 –0.1 –7.1 2.2
0.0 –5.5 –11.9 8.1 2.3
4.9 –9.5 9.9 5.2 1.5
Malaysia Mexico Netherlands Netherlands Antilles Norway
31.5 8.9 834.6 20.9 113.1
32.4 10.2 822.1 19.2 137.5
35.4 17.9 819.2 – 123.3
40.2 18.8 872.4 – 137.7
0.5 1.0 –35.5 –1.9 14.3
1.9 7.4 44.0 –1.2 –12.3
0.4 –0.8 –1.1 2.4 3.4
3.1 3.5 17.7 –2.3 –16.6
–0.4 3.6 –10.8 0.8 3.4
4.3 0.7 21.9 ... 9.8
Panama Portugal Singapore South Africa South Korea
20.8 202.4 665.7 ... 118.0
21.2 201.3 640.4 19.5 125.7
20.6 172.9 762.9 21.1 117.4
21.4 178.7 801.9 18.6 131.7
0.4 –6.7 –32.7 1.1 7.6
–0.6 –14.9 127.1 0.7 –9.8
0.5 –13.0 31.4 –0.7 –4.5
1.2 –8.0 2.9 1.3 0.3
–0.2 –0.9 60.3 1.6 –8.8
0.9 –3.3 31.3 –2.3 14.0
Spain Sweden Switzerland Turkey United Kingdom
686.5 205.9 1,030.8 57.9 5,162.7
716.8 199.5 892.1 54.8 4,731.5
670.9 196.9 826.7 81.0 4,728.8
712.2 222.2 804.5 81.1 4,880.1
5.7 –21.6 –165.6 –3.7 –589.0
–7.8 –0.7 –54.2 28.0 75.6
–51.0 16.4 –1.4 8.2 –17.7
32.4 –13.3 –24.3 4.3 30.2
8.6 6.6 –15.8 10.2 –2.1
5.2 17.6 –41.2 –1.3 26.2
United States (IBFs) (Others)
3,540.1 670.9 2,869.2
3,282.4 613.0 2,669.4
3,493.1 605.4 2,887.8
3,840.1 719.5 3,120.6
–259.8 –58.2 –201.6
212.6 –7.0 219.6
–1.4 –47.6 46.2
85.1 11.3 73.8
57.2 11.8 45.4
340.7 112.7 227.9
Australia Austria Bahamas Bahrain Belgium Bermuda Brazil Canada Cayman Islands Chile Chinese Taipei Curacao Cyprus Denmark Finland
BIS Quarterly Review, September 2011
A 17
Table 3B: External loans and deposits of banks in all currencies vis-à-vis the non-bank sector In individual reporting currencies in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans All countries
6,312.7
5,995.8
6,374.2
6,709.5
–462.8
394.7
23.5
210.1
46.7
195.5
Australia Austria Bahamas Bahrain Belgium
23.1 145.5 19.7 124.1 155.3
26.2 141.7 11.2 109.3 149.4
31.6 135.2 12.8 98.3 123.7
30.1 148.1 9.2 93.2 122.5
–1.8 –8.5 –8.6 –15.2 –10.3
3.2 0.3 1.7 –10.1 –19.0
–1.1 –3.2 25.6 –4.2 6.9
2.4 5.3 –24.8 –2.1 –19.0
2.4 –2.9 –2.9 –1.1 0.8
–2.0 5.9 –3.8 –5.9 –6.0
Bermuda Brazil Canada Cayman Islands Chile
0.1 3.4 107.0 405.9 1.1
0.2 0.2 117.3 371.9 1.9
0.5 2.5 118.2 346.8 2.9
0.5 5.0 114.3 297.3 2.5
0.1 –3.2 4.3 –34.4 0.8
0.2 2.3 –0.7 –24.9 1.0
–0.0 0.1 –13.4 5.1 –1.4
–0.0 0.2 1.8 34.1 0.9
0.1 2.0 4.7 –26.3 0.3
–0.0 2.5 –5.3 –49.9 –0.4
Chinese Taipei Curacao Cyprus Denmark Finland
30.3 ... 15.3 44.4 22.0
30.4 ... 17.5 50.2 11.4
43.3 10.1 16.1 52.3 10.3
46.9 9.6 18.5 51.6 41.0
0.1 ... 1.7 4.5 –10.5
12.6 – –1.1 3.8 0.0
3.3 ... –0.5 –2.5 –5.2
4.4 ... –1.1 15.9 0.1
3.7 – 0.6 –6.9 3.6
3.5 –0.6 1.9 –3.3 29.5
France Germany Greece Guernsey Hong Kong SAR
267.6 736.1 17.5 36.6 73.4
256.6 676.4 18.8 35.3 77.6
275.7 616.2 8.7 38.0 105.0
320.0 634.4 8.7 39.9 115.6
–17.8 –60.9 0.9 –2.6 3.8
28.4 –31.8 0.1 3.0 27.8
–9.5 8.3 0.2 –1.4 8.3
30.8 –14.4 0.1 2.4 7.8
1.3 –20.9 –0.5 2.2 7.3
34.1 –4.8 –0.3 1.7 9.9
India Ireland Isle of Man Italy Japan
10.7 182.5 6.9 65.9 448.9
11.5 138.8 7.5 69.1 385.4
15.4 186.5 6.0 70.0 448.4
16.0 173.1 5.9 77.9 489.2
0.7 –48.8 –0.2 0.7 –66.8
3.9 27.2 –1.2 5.1 54.4
0.1 –0.5 –1.1 –0.2 25.8
1.3 1.7 0.0 1.7 6.1
0.8 0.5 –0.3 0.4 3.2
0.5 –20.0 –0.3 3.9 37.5
(JOM) (Others) Jersey Luxembourg Macao SAR
... 448.9 13.1 195.5 7.4
... 385.4 12.6 180.3 10.7
... 448.4 10.9 151.6 14.4
... 489.2 11.5 160.1 18.5
... –66.8 –1.4 –20.9 3.2
... 54.4 –1.4 –11.0 3.8
... 25.8 0.2 0.7 0.9
... 6.1 –0.7 –3.1 –0.3
... 3.2 –1.2 –3.5 0.3
... 37.5 0.3 2.0 3.7
Malaysia Mexico Netherlands Netherlands Antilles Norway
3.1 1.9 237.9 13.0 17.8
5.1 2.7 248.1 10.5 19.1
5.0 2.5 259.4 – 20.7
5.4 2.5 293.9 – 21.5
1.9 0.7 4.6 –2.4 0.9
–0.4 –0.3 3.1 –0.5 1.8
–1.3 –0.2 –17.8 –1.6 0.3
0.7 –0.0 17.4 1.5 1.2
–0.0 –0.0 3.2 0.0 0.1
0.3 –0.0 26.0 ... 0.4
Panama Portugal Singapore South Africa South Korea
11.9 20.0 214.9 ... 40.3
11.0 21.6 219.6 3.6 41.3
13.2 19.0 268.1 3.6 43.4
12.9 19.3 284.3 4.1 44.9
–0.9 0.8 3.3 0.5 0.9
2.2 –1.2 46.2 –0.2 2.3
–0.2 –0.4 20.7 0.5 –14.3
1.7 –0.2 –0.4 –0.9 15.5
0.8 –0.9 14.5 0.1 –1.3
–0.3 –0.8 12.9 0.5 1.2
84.2 60.1 145.0 1.2 1,655.7
89.4 58.8 125.5 1.6 1,502.8
87.0 62.3 142.1 2.0 1,665.1
88.1 65.4 151.3 2.0 1,766.1
2.5 –3.9 –21.5 0.4 –186.9
2.3 5.0 16.0 0.4 124.6
–2.6 0.7 4.5 0.2 –28.4
2.6 –1.6 5.6 0.0 78.3
–0.8 3.4 2.6 0.1 38.9
–2.7 0.8 6.6 –0.0 61.8
646.2 36.4 609.8
715.6 35.9 679.7
829.4 39.8 789.6
887.1 42.0 845.2
27.2 –0.8 28.0
115.8 4.0 111.7
22.2 0.5 21.8
37.5 1.4 36.1
18.3 1.5 16.8
54.4 1.9 52.5
Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
A 18
BIS Quarterly Review, September 2011
Table 3B: External loans and deposits of banks in all currencies vis-à-vis the non-bank sector In individual reporting currencies in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Deposits All countries
7,024.8
6,589.9
6,987.4
7,263.5
–525.1
478.9
33.6
213.4
102.3
133.4
Australia Austria Bahamas Bahrain Belgium
31.2 64.6 172.6 61.6 264.5
44.5 66.6 144.7 58.2 257.2
25.2 62.6 141.9 64.2 234.9
24.9 71.2 29.9 53.6 239.1
9.8 0.3 –29.4 –3.9 –18.8
–19.4 –0.3 –0.7 6.6 –8.6
–5.3 –1.2 16.7 –4.5 21.4
2.3 2.3 –27.9 2.2 –24.4
0.2 –0.7 22.6 1.5 0.9
–0.6 5.2 –113.2 –11.1 –7.3
Bermuda Brazil Canada Cayman Islands Chile
1.3 4.0 66.1 913.9 4.7
1.5 1.9 71.8 817.5 7.1
1.6 1.7 100.0 894.5 5.9
1.8 2.2 121.3 854.6 7.5
0.2 –2.2 1.1 –97.2 2.4
0.2 –0.1 27.6 77.7 –1.2
0.2 –0.2 3.4 –12.6 0.2
–0.1 0.1 13.2 19.7 0.1
0.1 0.1 9.6 33.5 0.2
0.2 0.4 20.1 –41.0 1.5
Chinese Taipei Curacao Cyprus Denmark Finland
39.0 ... 23.3 32.2 9.8
49.0 ... 24.6 32.3 16.8
56.8 8.7 32.8 41.6 15.2
55.3 6.8 35.4 41.6 40.0
9.7 ... 0.9 –0.8 6.8
7.2 – 9.0 10.0 2.7
0.5 ... 1.6 0.5 0.6
2.8 ... 2.9 8.3 –0.7
3.3 – 2.0 –0.8 4.5
–1.7 –2.0 1.5 –2.0 23.5
France Germany Greece Guernsey Hong Kong SAR
147.3 397.4 61.6 54.9 149.3
139.1 310.8 48.1 50.7 162.8
140.7 301.9 30.9 50.7 176.2
155.7 311.4 37.2 52.8 182.8
–13.0 –48.5 –14.3 –6.1 12.5
9.0 7.5 –14.2 0.8 14.8
–5.5 15.7 –10.1 2.1 2.9
15.4 7.9 –3.3 –0.7 5.0
–5.5 –39.8 0.2 –1.3 10.8
8.2 –5.1 4.7 1.3 5.2
India Ireland Isle of Man Italy Japan
43.5 180.0 49.4 56.6 260.4
52.5 150.3 46.5 63.2 230.6
57.1 157.9 41.4 58.2 307.6
57.5 153.9 41.1 68.8 354.1
7.1 –37.0 –6.3 4.4 –30.1
3.4 –2.7 –3.7 –1.0 69.8
2.6 –9.6 –2.0 –0.6 16.7
1.4 –11.3 –0.8 5.2 52.8
–0.1 –7.2 –1.3 –6.5 –7.4
–0.0 –9.6 –1.2 7.0 46.5
(JOM) (Others) Jersey Luxembourg Macao SAR
... 260.4 130.0 170.9 9.8
... 230.6 93.1 173.5 10.4
... 307.6 70.6 143.4 9.9
... 354.1 73.4 154.3 10.8
... –30.1 –31.6 –2.5 0.5
... 69.8 –19.4 –2.3 –0.2
... 16.7 –14.7 1.6 –0.0
... 52.8 –2.8 5.9 –0.1
... –7.4 0.7 0.9 0.9
... 46.5 1.1 4.5 0.6
Malaysia Mexico Netherlands Netherlands Antilles Norway
6.6 0.3 249.0 11.6 12.9
9.1 0.2 266.3 11.7 14.6
9.7 0.2 298.4 – 16.2
10.2 0.2 314.7 – 19.0
2.3 –0.1 11.5 0.2 0.7
–0.0 0.0 35.5 –2.9 1.8
–0.0 –0.0 5.6 0.1 1.4
0.8 0.0 24.9 –0.5 0.8
0.1 0.0 4.3 1.0 1.4
0.3 –0.1 7.2 ... 2.2
Panama Portugal Singapore South Africa South Korea
11.9 29.1 262.2 ... 2.4
15.2 33.7 269.4 3.2 3.3
15.7 26.3 274.0 3.0 2.2
16.2 25.5 286.2 3.1 3.0
3.3 3.4 3.8 0.8 0.9
0.5 –4.9 5.5 –0.4 –1.1
0.1 –7.2 –5.0 –0.1 –0.1
0.9 –2.0 7.7 0.5 –0.0
–0.2 –0.4 2.7 –0.1 –0.2
0.5 –2.1 8.4 0.2 0.8
101.4 19.0 509.7 5.9 1,475.5
97.6 18.5 483.0 7.2 1,441.2
192.9 19.7 457.9 7.7 1,614.8
212.7 25.3 473.6 7.5 1,722.9
–6.3 –2.3 –37.2 1.1 –80.5
100.3 1.4 –16.8 0.9 162.4
3.0 –3.4 2.3 –0.7 18.1
31.7 1.2 3.0 1.1 63.0
61.8 –0.1 –7.8 –0.6 21.4
9.1 4.4 4.9 –0.4 72.5
927.7 45.8 881.8
790.7 26.6 764.1
814.6 20.5 794.1
904.4 23.0 881.3
–141.0 –19.2 –121.8
24.4 –6.1 30.5
–0.8 –2.0 1.2
4.7 –3.7 8.4
–2.2 –1.8 –0.4
88.9 2.4 86.6
Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
BIS Quarterly Review, September 2011
A 19
Table 4A: Local positions in foreign currency of banks vis-à-vis all sectors In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All countries
4,071.0
3,759.6
3,801.5
3,925.9
–386.5
93.9
–31.8
124.7
–49.4
46.5
72.8 153.0 17.1 48.5 37.0
57.3 133.3 11.4 42.1 48.3
62.0 110.4 12.7 45.8 47.6
64.7 112.8 12.7 43.7 49.0
–17.1 –22.8 –5.8 –7.0 –5.1
9.8 –31.3 1.8 4.2 –0.9
7.6 –6.6 0.9 1.4 1.8
1.2 –2.9 –0.3 –1.0 2.5
0.1 –3.9 0.4 0.9 –2.6
1.9 0.0 –0.4 –3.0 0.9
Bermuda Brazil Canada Cayman Islands Chile
1.7 38.9 41.9 26.9 26.3
1.7 22.2 33.5 21.4 19.0
1.5 28.1 39.9 21.1 23.6
1.3 39.6 39.9 24.9 27.8
– –16.7 –8.5 –5.6 –7.3
–0.1 6.0 6.5 –0.2 4.6
0.2 3.2 –0.4 3.1 3.6
–0.2 11.9 1.4 –2.5 –1.5
0.1 –16.6 3.3 –2.1 2.6
–0.2 11.3 –0.1 3.8 4.2
Chinese Taipei Curacao Cyprus Denmark Finland
84.1 ... 9.8 88.3 4.2
105.0 ... 9.2 93.5 4.0
125.2 1.5 10.4 88.7 4.1
124.3 0.7 12.5 83.3 5.5
20.7 ... –0.8 1.6 –0.2
19.5 – 0.9 –0.6 –1.1
14.7 ... 0.6 1.2 –0.8
–9.9 ... 0.3 –0.7 0.3
8.9 – 0.1 –1.1 –0.3
–1.2 –0.9 2.0 –9.7 1.2
France Germany Greece Guernsey Hong Kong SAR
171.1 183.2 27.1 5.3 167.0
165.1 196.8 27.1 11.3 128.9
212.9 200.9 36.2 8.6 210.0
215.9 197.5 36.8 8.7 245.6
–9.6 11.5 –0.4 6.0 –38.4
44.2 –1.5 –1.6 –2.5 80.2
7.7 8.3 –1.4 1.1 22.7
48.8 –4.4 –0.3 –0.8 13.3
–25.7 –10.7 0.3 –1.7 29.3
0.5 –5.0 0.2 –0.1 33.8
India Ireland Isle of Man Italy Japan
21.8 101.0 2.7 71.5 192.7
24.8 100.2 2.1 62.6 167.2
30.7 68.1 1.7 54.9 174.3
31.6 55.8 1.6 58.9 188.4
3.0 –5.9 –0.6 –9.7 –27.0
5.9 –14.8 –0.4 –8.7 9.0
1.1 –1.5 –0.1 1.0 2.2
0.9 –0.6 –0.1 2.2 8.3
1.0 –3.2 –0.1 –12.4 3.5
0.8 –13.2 –0.1 3.7 11.9
(JOM) (Others) Jersey Luxembourg Macao SAR
26.0 166.7 8.9 40.9 9.8
11.9 155.3 4.7 31.4 10.0
9.4 164.9 4.5 25.3 12.8
12.7 175.7 4.1 30.5 14.1
–14.1 –12.9 –4.2 –10.1 0.0
–2.5 11.5 –0.1 –3.6 3.1
–1.5 3.6 –0.5 –1.6 1.0
0.6 7.8 –0.2 –1.8 0.1
–1.6 5.2 0.6 –2.1 1.7
3.3 8.6 –0.4 4.9 0.9
9.1 30.6 60.2 2.6 36.1
9.2 26.9 102.6 2.3 30.5
10.9 27.3 65.7 – 29.1
12.6 29.8 63.7 – 29.9
0.1 –3.8 40.4 –0.3 –6.3
1.7 0.4 –37.0 –0.7 –0.9
0.6 1.2 –30.7 0.4 –0.3
1.1 1.2 –6.4 –0.3 –1.3
–1.3 0.7 1.3 0.2 0.4
1.6 2.3 –2.7 ... 0.2
0.1 4.9 118.8 ... 136.7
0.3 4.7 122.6 3.3 115.2
0.2 6.1 146.5 3.6 132.9
0.1 6.3 140.1 7.1 171.8
0.2 –0.3 2.5 –0.5 –21.3
–0.1 1.4 21.2 0.4 14.5
–0.0 1.1 0.8 0.0 6.6
0.1 0.4 2.8 0.1 23.8
–0.1 –0.4 0.6 –0.4 –38.1
–0.1 0.2 –7.1 0.5 39.2
41.7 51.2 50.6 66.8 1,807.9
33.1 51.9 70.2 71.9 1,580.9
37.3 53.5 61.0 101.8 1,461.9
37.0 55.4 68.0 110.2 1,461.7
–9.1 –3.1 18.7 4.1 –247.7
2.6 4.1 –8.2 31.5 –65.2
1.4 –1.2 –8.4 9.5 –83.1
–1.2 2.5 1.7 4.9 31.4
–1.5 1.0 –3.5 11.3 10.1
–0.4 –0.1 5.8 5.9 –46.6
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
Australia Austria Bahamas Bahrain Belgium
Malaysia Mexico Netherlands Netherlands Antilles Norway Panama Portugal Singapore South Africa South Korea Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
A 20
BIS Quarterly Review, September 2011
Table 4A: Local positions in foreign currency of banks vis-à-vis all sectors In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Liabilities All countries
4,813.9
4,206.9
4,272.2
4,501.7
–693.7
146.9
6.1
198.1
–21.9
146.6
Australia Austria Bahamas Bahrain Belgium
71.0 111.1 18.4 55.1 87.6
47.0 72.8 10.1 47.6 38.8
63.8 47.3 8.4 50.8 44.8
65.0 49.8 8.4 48.1 49.3
–29.7 –39.5 –8.6 –8.0 –65.5
20.2 –28.0 –1.4 3.7 5.9
4.3 –1.6 1.1 –0.4 –0.8
10.1 –2.5 –2.0 –1.8 5.0
2.4 –2.4 –1.5 2.7 –2.0
0.7 1.6 –0.2 –3.6 4.0
Bermuda Brazil Canada Cayman Islands Chile
7.7 31.4 112.7 78.9 25.0
7.3 16.4 106.5 67.5 23.2
8.8 32.1 129.8 57.5 33.2
8.3 42.5 147.2 57.7 34.2
–0.5 –15.1 –7.1 –12.0 –1.9
1.6 15.8 24.8 –9.1 10.1
0.8 4.7 5.8 6.1 3.4
0.5 10.4 2.4 –7.6 2.4
0.2 –2.5 12.9 –0.9 3.8
–0.6 10.1 16.7 –0.5 0.9
Chinese Taipei Curacao Cyprus Denmark Finland
196.0 ... 11.0 49.7 4.2
226.7 ... 9.8 25.0 3.4
256.3 3.7 12.3 20.6 5.7
261.2 4.1 11.0 21.9 6.4
29.8 ... –1.4 –25.3 –0.8
30.0 – 2.6 –3.1 –1.1
–5.2 ... 3.0 –1.8 0.4
12.3 ... 0.0 0.2 0.9
15.1 – 1.2 –1.0 –1.5
3.4 0.2 –1.4 0.4 0.7
France Germany Greece Guernsey Hong Kong SAR
212.2 183.0 42.1 32.7 390.5
201.7 103.2 30.5 43.3 349.9
241.8 102.0 24.5 39.3 415.2
252.5 102.2 23.5 42.2 458.0
–13.6 –80.9 –11.7 10.1 –43.7
36.3 –2.8 –6.4 2.3 66.4
23.8 2.4 –1.2 0.9 10.1
35.4 1.8 –0.4 4.5 13.2
–25.9 –3.1 –0.7 –2.5 31.4
8.8 –0.6 –1.1 2.0 37.8
India Ireland Isle of Man Italy Japan
5.5 68.7 7.7 103.5 516.7
6.8 64.4 8.0 74.5 357.7
7.8 48.3 7.4 50.7 369.6
8.4 36.8 7.2 55.4 398.6
1.3 –7.0 0.2 –29.8 –163.3
1.1 –0.3 –0.3 –24.7 16.5
0.6 –2.6 –0.3 –4.3 –1.5
–0.7 –2.4 0.1 2.0 31.6
0.8 –0.8 0.3 –14.0 –10.5
0.4 –12.1 –0.4 4.4 24.0
(JOM) (Others) Jersey Luxembourg Macao SAR
25.6 491.1 20.6 135.3 18.4
11.8 345.9 21.5 111.8 20.7
9.4 360.2 22.9 103.0 24.5
12.7 385.9 21.1 107.5 26.4
–13.8 –149.5 0.6 –25.2 2.0
–2.4 18.9 1.8 –16.7 4.4
–1.5 –0.1 1.0 –5.2 1.7
0.6 31.0 0.9 –1.4 0.1
–1.6 –8.8 0.6 –6.2 1.3
3.3 20.7 –2.3 3.5 1.0
16.0 17.2 82.1 2.3 23.5
19.3 22.2 62.7 3.1 16.3
23.6 19.6 58.1 – 20.5
24.6 21.4 58.7 – 21.4
3.3 5.0 –20.3 0.7 –7.6
4.3 –2.6 2.8 0.7 4.7
–0.1 –1.1 9.9 –0.5 –1.0
2.1 –0.1 7.0 0.1 1.8
–1.1 0.2 –6.1 1.1 2.1
0.8 1.8 0.2 ... 0.4
0.5 7.5 117.6 ... 90.3
0.4 7.5 129.0 6.0 61.5
0.4 9.0 133.0 7.3 69.5
0.4 9.3 132.7 9.4 105.4
–0.1 –0.1 9.8 –0.4 –28.9
0.1 1.5 4.8 3.1 7.6
0.1 1.4 11.9 –0.2 1.6
0.3 0.2 –0.1 0.9 24.8
–0.4 –0.2 –12.9 0.8 –38.7
–0.1 0.3 –1.8 –0.8 35.8
68.5 80.1 163.5 94.1 1,454.0
54.5 56.4 152.8 102.4 1,417.3
44.3 91.1 151.0 104.8 1,307.7
47.1 86.1 163.1 110.3 1,356.8
–15.8 –25.7 –14.2 7.0 –59.8
–10.0 37.7 4.3 5.5 –67.0
–2.3 –2.7 –7.3 –2.5 –45.9
–3.6 2.3 10.8 12.3 24.4
–3.6 27.4 –0.6 –5.0 17.8
2.4 –8.7 7.2 2.9 7.9
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
Malaysia Mexico Netherlands Netherlands Antilles Norway Panama Portugal Singapore South Africa South Korea Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
BIS Quarterly Review, September 2011
A 21
Table 4B: Local positions in foreign currency of banks vis-à-vis the non-bank sector In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All countries
2,081.7
1,925.8
1,978.1
2,027.3
–185.3
61.6
–22.9
62.8
–31.1
9.9
Australia Austria Bahamas Bahrain Belgium
53.7 75.1 8.1 28.8 33.7
43.0 72.9 6.1 27.5 31.3
49.3 74.8 7.6 28.3 28.3
52.6 75.5 7.6 28.0 26.4
–11.7 –4.2 –2.2 –1.8 –2.9
10.6 –4.1 1.8 1.2 –3.1
2.5 –2.6 0.2 0.9 2.7
4.4 –0.3 0.5 –0.7 1.7
0.5 –1.5 0.9 0.4 –3.1
2.8 –1.0 –0.3 –1.0 –2.2
Bermuda Brazil Canada Cayman Islands Chile
1.5 27.1 38.2 13.8 23.2
1.5 19.0 27.2 11.6 17.5
1.3 20.4 29.7 11.1 21.9
1.1 24.7 28.8 11.6 25.4
–0.0 –8.1 –11.1 –2.2 –5.7
–0.2 1.4 2.5 –0.5 4.4
0.2 1.2 –1.2 –0.2 3.3
–0.2 8.1 1.1 –0.5 –0.7
0.0 –9.1 2.0 –0.8 2.5
–0.2 4.3 –0.9 0.5 3.5
Chinese Taipei Curacao Cyprus Denmark Finland
27.8 ... 9.6 54.1 3.9
30.9 ... 8.9 59.7 3.4
39.6 1.3 10.0 54.3 3.2
41.3 0.4 12.0 52.0 4.4
3.1 ... –0.9 3.2 –0.5
8.3 – 0.8 –3.7 –0.7
5.2 ... 0.7 3.4 –0.9
0.6 ... 0.2 –1.0 0.8
1.3 – 0.0 –4.4 –0.3
1.8 –0.9 1.9 –4.7 1.2
55.7 108.2 25.6 3.9 ...
57.8 108.6 26.0 3.3 ...
58.3 119.8 35.9 2.5 ...
60.1 116.2 36.5 2.5 ...
0.5 –1.0 0.1 –0.7 ...
–0.8 7.1 –0.8 –0.7 ...
–4.8 7.9 –0.9 –0.1 ...
13.0 –3.7 –0.3 0.1 ...
–8.1 0.6 0.4 –0.6 ...
1.2 –4.5 0.2 –0.0 ...
India Ireland Isle of Man Italy Japan
18.4 61.6 2.5 29.2 61.7
21.2 58.8 2.0 27.2 63.6
25.9 43.5 1.6 29.4 76.3
26.4 42.6 1.5 30.6 78.4
2.8 –6.0 –0.5 –2.3 1.7
4.7 –12.8 –0.4 1.5 13.2
2.1 –3.0 –0.2 0.6 3.5
0.9 –2.7 –0.0 –0.2 6.0
–0.1 –0.3 –0.1 0.9 3.6
0.5 –1.5 –0.1 1.0 1.6
(JOM) (Others) Jersey Luxembourg Macao SAR
... 61.7 4.6 15.2 9.6
... 63.6 1.8 8.1 9.7
... 76.3 2.0 7.2 12.1
... 78.4 1.8 8.9 13.2
... 1.7 –2.7 –7.1 –0.0
... 13.2 0.3 –1.9 2.5
... 3.5 –0.1 –0.4 0.7
... 6.0 0.1 –0.9 0.3
... 3.6 0.2 –1.1 1.3
... 1.6 –0.3 1.7 0.9
Malaysia Mexico Netherlands Netherlands Antilles Norway
4.2 25.3 38.7 1.7 33.5
4.1 23.7 40.5 2.1 28.5
2.1 25.7 41.3 – 26.9
2.2 28.1 41.9 – 27.2
0.0 –1.7 0.3 0.4 –5.6
–2.0 2.0 1.4 –0.8 –1.2
–2.3 1.0 –2.0 0.1 0.2
–0.0 1.1 1.5 –0.1 –0.7
–0.0 0.8 –0.9 0.5 –0.0
0.1 2.2 0.1 ... –0.3
Panama Portugal Singapore South Africa South Korea
0.1 2.7 ... ... 89.1
0.2 2.8 ... 1.9 80.0
0.1 2.9 ... 1.8 85.2
0.1 3.1 ... 2.5 101.0
0.2 0.1 ... –0.4 –8.9
–0.1 0.1 ... –0.2 2.4
–0.0 –0.1 ... 0.1 0.1
0.1 0.1 ... 0.2 2.0
–0.1 –0.0 ... –0.7 –6.2
–0.0 0.2 ... 0.2 16.1
35.4 37.1 31.6 30.8 956.8
28.0 36.7 33.8 35.1 859.9
32.8 35.5 37.4 48.7 842.1
31.8 37.7 39.5 52.8 848.8
–7.7 –1.3 1.9 3.9 –106.4
3.3 0.3 4.1 14.6 7.3
0.7 0.2 –1.2 0.4 –40.9
–0.1 0.7 0.5 4.6 26.1
–0.7 –1.9 4.3 5.3 –16.7
–1.0 0.8 1.6 3.0 –18.3
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
France Germany Greece Guernsey Hong Kong SAR
Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
A 22
BIS Quarterly Review, September 2011
Table 4B: Local positions in foreign currency of banks vis-à-vis the non-bank sector In individual reporting countries in billions of US dollars Reporting countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Liabilities All countries
1,937.0
1,880.1
1,977.2
2,083.9
–91.2
150.1
7.8
79.2
38.7
70.6
33.1 5.2 7.6 35.1 34.1
30.4 4.8 5.7 32.3 21.7
43.5 5.5 4.4 34.1 25.0
45.6 5.9 4.4 33.3 25.9
–5.4 –0.4 –2.2 –3.3 –13.1
13.5 0.7 –1.2 2.2 3.2
3.7 0.3 0.5 0.6 0.1
2.4 1.5 –1.2 –1.4 4.0
5.6 –0.9 –0.9 1.0 –2.4
1.8 0.3 –0.1 –1.4 0.6
Bermuda Brazil Canada Cayman Islands Chile
7.4 9.7 109.8 46.9 21.9
7.2 12.6 104.1 49.1 21.9
8.7 24.3 126.5 41.6 31.3
8.2 26.1 143.6 38.7 31.4
–0.4 2.8 –6.5 1.6 0.0
1.6 11.7 23.8 –7.1 9.3
0.8 2.6 5.9 2.0 3.4
–0.4 6.3 2.4 –2.4 3.7
1.2 3.7 12.3 –1.2 2.7
–0.6 1.5 16.3 –3.6 0.1
Chinese Taipei Cucacao Cyprus Denmark Finland
134.2 ... 10.3 13.3 2.0
145.8 ... 9.6 10.9 2.1
166.4 3.3 12.2 11.1 3.9
169.3 1.3 10.6 12.1 3.8
11.0 ... –0.9 –2.6 0.1
21.2 – 2.6 0.6 1.0
–5.3 ... 3.1 0.7 0.4
9.2 ... –0.0 0.2 2.5
12.9 – 1.2 0.3 –1.7
1.9 –2.0 –1.6 0.5 –0.2
20.7 30.9 37.4 29.0 ...
20.6 34.6 29.3 29.7 ...
18.7 35.1 24.2 25.2 ...
19.4 37.7 23.2 28.6 ...
–0.6 3.2 –8.1 0.4 ...
–1.9 0.3 –5.6 1.7 ...
–0.8 1.6 –1.1 –1.0 ...
3.7 2.4 0.0 3.8 ...
–3.5 1.4 –0.5 –1.9 ...
0.5 2.3 –1.0 2.8 ...
India Ireland Isle of Man Italy Japan
3.9 25.7 7.5 16.0 200.1
4.8 20.1 7.3 14.4 196.3
5.3 21.6 6.7 12.9 235.9
5.8 21.1 6.5 14.6 248.9
0.9 –6.6 –0.2 –1.7 –5.8
0.5 2.2 –0.4 –1.5 41.9
0.5 –1.1 –0.3 –0.9 11.4
–0.8 –2.7 0.1 0.2 19.1
0.3 3.8 0.3 0.2 2.1
0.5 –0.8 –0.3 1.6 10.1
(JOM) (Others) Jersey Luxembourg Macao SAR
... 200.1 16.2 55.3 18.2
... 196.3 17.3 53.5 20.3
... 235.9 16.9 42.5 23.6
... 248.9 17.1 45.5 25.2
... –5.8 0.9 –2.5 1.7
... 41.9 –0.1 –4.7 3.8
... 11.4 0.3 –2.3 1.4
... 19.1 1.0 0.7 0.4
... 2.1 –1.1 0.6 0.9
... 10.1 –0.3 2.6 0.9
Malaysia Mexico Netherlands Netherlands Antilles Norway
9.0 16.1 35.4 1.9 20.0
12.9 18.1 33.0 2.6 14.6
15.9 18.0 30.3 – 18.7
16.3 19.0 31.2 – 18.8
3.9 2.0 –3.0 0.7 –5.7
3.0 –0.0 6.1 0.7 4.4
0.9 –1.5 0.5 –0.5 0.5
0.4 –0.5 –0.5 0.1 1.7
–0.4 0.5 0.4 1.2 1.7
0.3 1.0 0.7 ... –0.3
Panama Portugal Singapore South Africa South Korea
0.3 5.0 ... ... 34.1
0.3 5.2 ... 4.7 29.4
0.2 5.0 ... 5.8 28.5
0.3 5.4 ... 5.5 35.2
0.0 0.2 ... 0.2 –4.7
–0.0 –0.2 ... 1.3 –1.0
0.0 –0.4 ... 0.1 –4.0
0.0 0.3 ... 1.0 6.2
–0.2 0.1 ... 0.4 –7.1
0.1 0.4 ... –0.8 6.6
51.1 22.6 139.7 90.5 579.7
47.6 19.2 128.3 98.4 559.2
41.0 22.6 126.3 99.8 554.7
42.9 25.7 135.8 105.7 588.4
–5.2 –4.3 –14.4 6.7 –30.0
–6.2 4.2 3.4 4.4 10.7
–2.5 –0.1 –5.4 –2.7 –3.6
–2.6 1.0 7.2 11.9 –1.7
0.0 –1.1 0.9 –5.7 11.6
1.5 2.1 5.1 3.4 17.8
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
... ... ...
Australia Austria Bahamas Bahrain Belgium
France Germany Greece Guernsey Hong Kong SAR
Spain Sweden Switzerland Turkey United Kingdom United States (IBFs) (Others)
BIS Quarterly Review, September 2011
A 23
Table 5A: Currency Breakdown Reporting banks' cross-border positions vis-à-vis all sectors in billions of US dollars Currencies
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All Currencies
31,292.0
30,078.6
30,123.9
31,385.0
–1,957.3
838.7
41.2
616.4
–416.8
491.4
13,026.4
12,785.7
12,501.9
13,034.7
–655.0
258.2
64.2
183.0
–334.6
54.9
U.S. dollar
2,593.5
2,806.7
3,244.2
3,340.2
221.2
429.5
56.2
157.5
26.8
96.0
Euro
8,389.9
8,109.9
7,277.8
7,702.7
–538.2
–203.4
17.5
–44.6
–294.1
–34.0
Yen
715.5
587.2
729.2
735.5
–117.8
60.8
8.1
25.6
8.7
21.3
Pound sterling
846.0
777.7
725.3
707.4
–170.0
–18.7
–15.9
20.3
–42.5
–37.8
Swiss franc
115.3
99.4
97.1
96.9
–18.9
–10.1
–10.4
1.7
–0.4
–2.8
Other
366.2
404.8
428.3
451.9
–31.3
–0.0
8.7
22.4
–33.0
12.1
16,710.3
15,814.9
15,971.9
16,637.1
–1,213.0
423.9
–48.1
380.7
–120.4
386.0
U.S. dollar
9,658.1
9,007.5
9,232.8
9,655.9
–676.1
287.1
–132.2
411.7
–41.4
425.4
Euro
3,763.0
3,577.1
3,312.4
3,503.6
–340.4
–49.7
168.2
–91.3
–191.5
–17.5
Yen
659.3
455.1
532.1
476.9
–197.4
19.4
–10.6
10.0
22.9
–44.7
Pound sterling
921.0
930.0
820.5
776.7
–98.4
–49.4
–15.5
1.5
–33.5
–65.6
Swiss franc
368.8
329.2
369.0
392.8
–50.7
9.9
4.5
1.6
5.7
13.4
1,340.1
1,516.0
1,705.0
1,831.1
150.0
206.5
–62.7
47.1
117.4
75.1
1,555.3
1,477.9
1,650.2
1,713.2
–89.3
156.6
25.1
52.8
38.2
50.4
29,192.8
28,131.4
28,468.3
29,730.4
–1,815.2
909.8
53.0
635.7
–270.2
571.8
11,857.4
11,492.1
11,741.7
12,358.7
–807.7
634.7
290.0
173.9
–111.1
187.5
US dollar
3,372.0
3,167.5
3,390.3
3,730.2
–201.9
221.1
–16.1
102.0
66.0
339.8
Euro
6,430.1
6,246.4
6,185.8
6,534.1
–399.1
389.4
232.8
52.8
–149.1
–41.2
381.3
334.8
407.6
349.3
–41.5
26.4
34.6
25.1
–5.9
–50.5
1,057.5
1,048.5
972.4
939.1
–139.5
–58.2
–16.6
–10.9
–25.5
–59.8
91.4
92.6
112.9
112.8
–2.3
10.1
7.6
–4.2
6.6
–3.1
525.2
602.3
672.7
693.3
–23.4
45.8
47.7
9.0
–3.3
2.3
16,068.6
15,441.0
15,325.8
15,913.7
–927.0
65.9
–301.8
432.4
–215.3
343.2
U.S. dollar
9,263.8
9,076.5
9,310.4
9,552.4
–211.0
249.1
–196.8
485.9
12.1
241.9
Euro
3,271.9
3,177.3
2,827.6
3,083.8
–229.6
–135.6
–10.3
–63.9
–162.5
74.4
834.4
587.3
599.4
588.3
–239.2
–53.3
–11.8
–26.5
–22.0
1.1
1,009.9
858.4
754.4
716.6
–253.4
–72.5
–12.4
–7.2
–52.0
–58.3
405.3
372.6
345.7
363.0
–49.3
–51.2
–28.6
–16.9
–6.4
7.6
1,283.3
1,369.0
1,488.1
1,609.6
55.5
129.4
–41.9
61.0
15.4
76.5
1,266.8
1,198.3
1,400.9
1,457.9
–80.5
209.2
64.8
29.4
56.3
41.1
A) Domestic currency
B) Foreign currency
Other C) Unallocated
Liabilities All Currencies A) Domestic currency
Yen Pound sterling Swiss franc Other B) Foreign currency
Yen Pound sterling Swiss franc Other C) Unallocated
A 24
BIS Quarterly Review, September 2011
Table 5B: Currency Breakdown Reporting banks' cross border positions vis-à-vis non-banks In billions of US dollars Currencies
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All currencies
11,001.6
10,823.1
11,007.0
11,524.2
–430.8
443.4
–122.6
374.3
–37.6
237.3
4,155.0
4,146.9
4,045.7
4,296.0
–151.1
65.9
–81.0
78.5
–8.1
81.8
545.6
603.7
724.4
776.2
31.6
120.7
15.6
39.7
15.7
51.8
3,021.8
2,950.7
2,584.2
2,758.7
–154.0
–151.9
–84.5
–8.5
–59.9
10.6
Yen
256.1
236.3
330.7
334.4
–15.6
59.2
9.5
18.6
13.4
10.4
Pound sterling
193.8
199.6
241.3
253.4
–17.9
41.7
–9.8
25.9
20.1
5.3
27.8
26.2
29.8
31.6
–2.5
1.0
–0.5
2.3
–0.6
0.9
109.9
130.4
135.2
141.7
7.3
–4.8
–11.4
0.6
3.2
2.8
6,461.9
6,292.4
6,494.8
6,738.1
–276.4
295.9
–63.6
279.7
–55.9
137.2
U.S. dollar
3,977.0
3,831.0
4,041.6
4,137.6
–149.0
247.9
–57.5
226.2
–12.5
96.0
Euro
1,277.2
1,239.7
1,171.9
1,283.3
–84.3
–36.2
14.9
23.5
–85.5
35.8
Yen
225.1
142.6
161.4
155.4
–78.1
2.0
–7.6
5.8
15.6
–2.8
Pound sterling
300.8
310.3
273.6
282.0
–25.0
–6.2
–9.8
2.4
–10.0
0.8
Swiss franc
124.7
115.7
120.7
124.9
–12.3
–3.3
–2.7
1.0
–1.7
0.9
Other
557.2
653.2
725.6
754.9
72.3
91.7
–0.9
20.8
38.1
6.5
384.7
383.7
466.5
490.2
–3.3
81.6
22.0
16.1
26.4
18.3
7,731.5
7,281.6
7,627.3
7,944.2
–515.7
427.4
24.4
239.0
35.2
158.4
2,772.3
2,620.5
2,716.1
2,905.9
–232.9
142.0
22.1
39.8
15.4
101.8
957.6
826.8
849.3
951.6
–134.3
22.5
–2.5
8.3
–8.1
102.4
1,178.0
1,132.3
1,180.9
1,272.8
–66.1
126.4
21.9
27.0
23.7
16.6
83.0
69.6
80.0
76.8
–12.0
1.4
1.5
2.9
–0.1
–1.6
358.4
365.2
354.8
357.7
–34.1
–23.2
–13.9
–5.1
0.5
–6.9
38.3
41.5
49.6
50.1
1.8
3.3
5.4
–0.9
–1.4
–0.8
157.0
185.1
201.5
196.8
11.8
11.7
9.6
7.5
0.7
–7.8
4,550.1
4,239.0
4,475.0
4,580.8
–291.2
268.7
6.0
189.0
5.7
40.9
2,969.3
2,730.3
3,041.9
3,106.3
–194.3
298.6
15.3
173.8
79.8
64.4
Euro
936.9
911.0
870.7
896.5
–49.7
12.1
–22.2
13.1
–40.0
–28.2
Yen
129.3
107.8
106.3
108.0
–15.9
–15.2
9.6
5.5
–17.5
4.0
Pound sterling
192.0
170.0
132.9
130.8
–26.8
–38.5
5.6
–7.0
–17.7
–5.8
67.5
57.2
56.3
57.2
–9.8
–8.6
–3.5
–5.4
–3.0
–0.6
255.1
262.8
266.8
281.9
5.4
20.3
1.1
9.0
4.2
7.1
409.2
422.1
436.2
457.5
8.4
16.7
–3.7
10.3
14.1
15.7
A) Domestic currency U.S. dollar Euro
Swiss franc Other B) Foreign currency
C) Unallocated
Liabilities All currencies A) Domestic currency US dollar Euro Yen Pound sterling Swiss franc Other B) Foreign currency U.S. dollar
Swiss franc Other C) Unallocated
BIS Quarterly Review, September 2011
A 25
Table 5C: Currency breakdown Reporting banks' cross border positions vis-à-vis official monetary authorities in billions of US dollars Currencies
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All Currencies
195.4
151.0
189.5
222.9
–45.3
14.5
7.7
–28.8
20.1
27.0
105.2
54.4
35.0
37.7
–50.1
–43.9
2.1
–45.8
1.5
0.6
...
...
...
...
...
...
...
...
...
...
Euro
96.7
46.2
29.6
31.9
–48.9
–41.3
2.7
–43.5
1.9
0.5
Yen
0.0
0.0
0.0
–
0.0
–0.0
–0.0
–
0.0
–0.0
Pound sterling
6.3
5.6
2.4
4.1
–1.4
–2.9
–2.0
–1.3
0.2
1.6
Swiss franc
0.1
0.1
0.0
0.0
–0.0
–0.1
0.1
0.0
–0.1
–0.0
Other
2.1
2.4
3.0
1.6
0.2
0.4
1.3
–1.0
–0.5
–1.4
77.6
76.9
96.7
108.9
–2.2
20.9
3.9
5.8
–1.3
9.2
U.S. dollar
29.2
40.5
36.5
37.8
11.3
–4.6
–9.4
1.2
–3.8
1.4
Euro
23.1
17.3
31.6
35.9
–7.1
16.0
3.5
–4.2
9.2
2.2
Yen
1.7
1.1
2.2
1.0
–0.6
0.9
–0.3
2.5
–1.4
–1.2
Pound sterling
3.5
4.7
11.6
15.0
1.1
7.6
10.2
1.0
–1.0
3.1
Swiss franc
2.4
0.9
2.8
7.1
–1.7
1.3
1.8
2.7
–3.0
4.1
17.7
12.4
12.0
12.0
–5.2
–0.3
–1.8
2.7
–1.4
–0.3
12.5
19.7
57.8
76.3
7.0
37.4
1.7
11.2
20.0
17.2
1,140.9
858.8
849.7
896.8
–299.9
11.3
–3.7
–8.1
4.2
29.4
441.5
355.2
349.2
369.6
–98.0
8.6
2.2
–14.6
4.0
10.7
U.S. dollar
194.2
163.9
158.5
157.3
–30.3
–5.4
–0.4
13.5
–2.7
–1.2
Euro
195.4
129.0
121.8
133.9
–72.6
6.2
2.4
–21.2
–4.2
4.2
3.2
2.3
1.2
1.2
–0.7
–1.3
0.2
–0.6
–0.2
0.0
42.3
49.2
48.4
56.8
2.2
1.0
–2.7
–5.1
6.0
7.0
Swiss franc
0.2
0.1
0.9
0.2
–0.1
0.8
0.2
–0.3
0.8
–0.7
Other
6.3
10.6
18.2
20.1
3.4
7.3
2.5
–1.0
4.3
1.4
668.0
440.0
425.2
437.9
–233.5
–9.1
–13.4
–6.3
17.6
5.5
388.7
271.0
252.1
257.4
–118.4
–19.1
–26.8
15.2
–1.1
5.2
Euro
97.2
72.8
80.2
85.8
–25.4
12.6
15.3
–14.1
10.4
0.5
Yen
14.0
12.4
16.4
7.5
–1.3
2.8
–4.3
4.8
3.7
–8.6
Pound sterling
59.3
23.6
12.2
14.6
–39.4
–10.6
–1.8
–8.1
–0.1
2.0
Swiss franc
33.0
21.1
3.7
3.0
–11.9
–16.7
–8.5
–2.6
0.1
–0.7
Other
75.9
39.1
60.6
69.6
–37.1
22.0
12.7
–1.4
4.5
7.1
31.4
63.5
75.3
89.3
31.5
11.7
7.5
12.8
–17.3
13.2
A) Domestic currency U.S. dollar
B) Foreign currency
Other C) Unallocated
Liabilities All Currencies A) Domestic currency
Yen Pound sterling
B) Foreign currency U.S. dollar
C) Unallocated
A 26
BIS Quarterly Review, September 2011
Table 5D: Currency breakdown Reporting banks' local positions in foreign currency in billions of US dollars Currencies
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Vis-à-vis all sectors
Assets All currencies
4,071.0
3,759.6
3,801.5
3,925.9
–386.5
93.9
–31.8
124.7
–49.4
46.5
US dollar
1,928.8
1,697.4
1,685.4
1,790.8
–243.7
–13.7
–62.8
102.1
–54.3
102.8
Euro
1,094.1
1,043.3
942.4
950.6
–81.2
–24.4
–6.6
–5.3
–26.5
–49.7
Yen
156.4
145.3
161.5
162.1
–10.4
–1.7
8.3
–0.7
–13.3
3.8
Pound sterling
124.9
140.0
144.9
143.9
–3.5
15.2
17.9
5.3
–11.8
–5.0
Swiss franc
251.6
252.5
239.0
237.0
–6.8
–35.3
–13.7
–5.2
–6.6
–8.2
Other
216.9
217.2
257.4
241.0
–4.6
49.9
0.2
12.6
31.3
–23.7
Unallocated
298.2
263.8
370.8
400.5
–36.2
103.8
24.9
15.8
31.8
26.6
All currencies
4,813.9
4,206.9
4,272.2
4,501.7
–693.7
146.9
6.1
198.1
–21.9
146.6
US dollar
2,529.8
1,921.0
1,953.4
2,116.6
–630.9
49.2
–1.2
178.4
–63.6
160.5
Euro
953.0
934.8
862.9
895.7
–47.6
–3.5
–10.8
3.8
0.5
–21.0
Yen
160.9
126.4
130.7
116.7
–33.5
–11.0
–3.4
–2.3
–6.3
–11.5
Pound sterling
145.6
153.4
150.3
148.1
–12.4
5.7
6.6
1.4
–3.4
–6.3
Swiss franc
122.0
131.4
117.9
120.1
5.1
–23.6
–2.7
–4.7
–6.9
–1.0
Other
373.7
437.3
480.6
483.3
56.9
53.8
–5.6
8.3
36.8
–11.4
Unallocated
528.8
502.6
576.4
621.2
–31.3
76.4
23.2
13.3
20.9
37.2
Liabilities
Vis-à-vis the non-bank sector
Assets All currencies
2,081.7
1,925.8
1,978.1
2,027.3
–185.3
61.6
–22.9
62.8
–31.1
9.9
US dollar
1,012.4
946.2
994.5
1,034.1
–69.5
39.5
–35.9
52.3
–9.5
39.2
Euro
603.4
524.5
503.1
508.9
–92.2
16.3
17.4
–2.3
–18.3
–25.1
Yen
99.0
97.2
108.4
109.2
–1.1
–2.1
4.4
1.9
–9.5
2.9
Pound sterling
60.3
65.1
58.7
61.3
–3.1
–2.9
–1.5
–1.1
–1.1
1.0
Swiss franc
166.0
168.1
165.6
165.0
–3.4
–18.1
–8.4
–2.8
–1.2
–4.9
Other
129.3
113.1
134.4
135.2
–16.4
27.1
0.3
14.5
6.8
–3.2
11.3
11.8
13.3
13.5
0.4
1.7
0.8
0.2
1.8
–0.1
All currencies
1,937.0
1,880.1
1,977.2
2,083.9
–91.2
150.1
7.8
79.2
38.7
70.6
US dollar
1,123.2
1,091.2
1,192.4
1,267.4
–42.0
118.6
5.6
84.7
33.8
74.9
Euro
509.4
482.1
464.5
494.0
–44.2
18.0
8.1
–5.5
–6.5
0.0
Yen
64.3
52.2
56.8
52.5
–11.9
–2.5
–5.3
–3.0
0.5
–3.1
Pound sterling
68.6
73.2
65.6
63.3
–3.8
–4.6
–4.0
–0.2
2.4
–4.1
Swiss franc
28.4
31.2
27.9
29.7
1.7
–2.5
–1.3
0.3
–0.4
0.9
123.0
127.3
143.1
150.5
6.5
18.7
3.8
2.5
6.8
3.0
20.1
22.9
26.9
26.5
2.4
4.5
0.9
0.5
2.0
–1.0
Unallocated
Liabilities
Other Unallocated
BIS Quarterly Review, September 2011
A 27
Table 6A: External positions of reporting banks vis-à-vis all sectors Vis-à-vis individual countries in millions of US dollars Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All countries
31,291,999 30,078,576 30,123,895 31,384,990 –1,957,312
838,681
41,245
616,448
–416,754
491,371
Developed Countries i) Europe Euro area (of which in EUR) Austria
24,408,751 23,348,219 22,834,929 23,707,989 –1,697,290 17,706,184 16,833,160 15,989,013 16,500,590 –1,458,497 10,989,721 10,641,747 9,630,926 10,018,322 –711,760 7,993,082 7,937,492 7,108,462 7,489,818 –336,987 283,251 258,617 240,731 256,070 –33,735
68,381 –265,115 –441,565 –259,834 –3,819
–133,237 –113,361 –67,619 87,883 9,025
412,434 177,790 70,973 –55,370 –4,923
–573,557 –553,844 –427,741 –359,414 –11,743
189,156 –131,425 –78,027 –65,577 2,204
Belgium Cyprus Estonia Finland France
502,235 75,131 19,124 148,110 1,818,206
490,162 107,562 17,681 164,814 1,748,956
468,369 69,657 14,533 172,302 1,770,589
489,423 67,102 14,324 191,637 1,783,643
–27,346 28,353 –1,921 11,203 –121,959
–13,752 –32,429 –2,683 12,716 70,396
–1,682 –1,417 –718 11,823 –44,845
44,606 –18,389 –303 572 82,023
–26,258 –14,355 –929 11,803 –51,058
–419 –5,292 –1,042 11,282 –61,910
Germany Greece Ireland Italy Luxembourg
1,750,503 209,109 1,250,099 1,154,620 982,233
1,697,258 240,814 1,170,151 1,147,053 884,533
1,788,069 175,275 832,698 914,147 896,642
1,802,326 180,640 838,065 985,573 941,981
–114,317 23,297 –127,812 –49,988 –123,638
103,398 –44,026 –197,287 –123,241 57,187
118,935 7,433 –40,052 –62,768 –4,028
18,445 –51,051 –28,800 1,702 18,323
–58,697 –7,923 –99,167 –38,717 44,711
–74,033 –3,432 –30,985 17,479 8,517
Malta Netherlands Portugal Slovakia Slovenia
44,678 1,306,952 272,414 27,285 35,061
39,489 1,238,998 281,293 18,014 31,971
35,671 1,121,430 219,077 20,314 29,029
38,209 1,240,268 239,796 22,612 31,615
–5,985 –109,360 –459 –9,397 –4,136
–2,145 –58,329 –37,815 3,423 –555
–3,003 28,002 –18,540 86 5
–339 38,587 –12,219 2,030 616
23 –107,943 –11,390 758 –972
1,172 65,170 7,841 1,012 807
Spain Andorra Denmark Iceland Liechtenstein
1,110,710 2,203 274,117 31,166 8,375
1,104,381 3,739 297,912 26,173 7,768
862,393 2,573 290,065 14,424 8,659
895,038 3,078 310,896 12,362 8,867
–44,560 1,425 13,077 –5,535 –754
–172,600 –921 –12,753 –888 1,120
–65,874 –147 –32,159 –1,043 –127
–19,906 –237 16,759 949 695
–55,883 222 –7,208 –1,796 983
–16,397 353 8,330 –2,658 –97
Norway Sweden Switzerland (of which in CHF) United Kingdom
281,486 308,329 743,937 149,689 5,064,985
239,720 306,339 611,792 138,433 4,695,931
235,581 308,778 606,366 179,833 4,889,892
247,077 332,932 587,330 195,781 4,978,280
–47,519 –8,951 –155,754 –16,287 –542,736
–4,993 2,150 –13,864 25,140 206,770
5,019 –2,347 5,922 11,085 –21,401
–11,298 –3,217 –21,358 8,631 124,930
3,247 1,504 1,663 5,453 –124,467
4,626 12,844 –33,526 10,751 –42,874
(of which in GBP) Vatican Other
716,292 1 1,864
757,268 – 2,039
657,689 47 1,702
602,942 10 1,436
–46,515 –119 125
–50,211 43 –214
–18,134 –31 572
5,854 –6 –400
–34,546 46 –297
–72,396 –38 –359
All Countries
29,192,836 28,131,403 28,468,340 29,730,385 –1,815,209
909,791
53,029
635,675
–270,154
571,819
Developed Countries i) Europe Euro area (of which in EUR) Austria
18,974,195 18,042,003 18,685,253 19,563,834 –1,411,914 13,707,857 12,814,966 12,891,156 13,635,198 –1,336,098 7,361,709 6,925,051 6,654,300 7,151,296 –666,201 4,770,608 4,628,830 4,405,166 4,801,952 –300,623 127,244 123,472 97,624 115,855 –9,148
839,277 308,155 –19,595 34,043 –20,705
159,524 122,245 74,372 62,959 4,777
423,705 263,170 113,143 67,235 –22,586
–266,389 –387,624 –191,345 –158,314 –14,674
345,960 249,464 193,185 113,690 13,265
Liabilities
Belgium Cyprus Estonia Finland France
524,149 48,786 3,063 111,508 1,149,922
529,798 59,923 1,666 118,064 1,138,960
529,467 47,308 1,719 113,868 1,216,815
549,528 51,880 2,550 114,773 1,284,164
–15,502 9,257 –1,432 2,532 –48,192
–15,385 –9,757 131 –2,638 94,694
–3,452 –5,697 –193 5,057 8,012
21,097 4,024 469 3,989 82,075
–16,260 –9,686 –296 2,390 –39,284
–5,355 3,240 741 –3,899 10,970
Germany Greece Ireland Italy Luxembourg
2,112,894 99,197 616,178 328,877 893,824
1,950,628 124,566 590,558 310,474 775,114
1,830,702 111,557 557,011 298,987 777,852
1,889,813 111,500 622,278 319,028 843,686
–225,958 20,252 –56,702 –26,428 –128,938
5,269 –4,559 –8,751 –2,773 26,180
27,502 26,917 7,574 7,539 –10,430
–5,428 –37,724 24,626 5,096 30,927
2,401 –8,444 –49,993 –2,073 14,119
–26,398 –5,587 43,729 4,272 33,367
Malta Netherlands Portugal Slovakia Slovenia
17,842 902,021 102,917 3,542 5,042
18,443 770,330 98,022 5,850 4,686
20,855 672,174 96,298 5,926 3,120
22,461 810,083 95,833 6,911 4,404
96 –160,379 –7,264 1,831 –432
2,985 –67,960 4,972 375 –1,515
1,510 –201 2,721 412 514
–697 10,290 2,611 –87 –463
531 –60,088 –6,514 24 –625
763 108,365 –5,155 625 1,082
314,703 7,755 190,069 7,614 34,836
304,497 4,197 159,348 4,852 30,089
273,017 3,114 183,369 6,110 22,244
306,549 3,131 195,007 4,437 23,810
–19,794 –3,736 –39,268 –3,207 –5,500
–20,159 –948 8,708 1,225 –4,592
1,810 547 –3,836 827 –4,284
–5,077 –431 10,914 916 –576
–2,872 –221 –1,947 –926 –64
19,161 –106 2,531 –1,879 750
Norway Sweden Switzerland (of which in CHF) United Kingdom
120,595 151,383 1,221,239 145,062 4,606,426
86,012 162,851 997,420 125,560 4,441,245
103,103 191,300 926,147 93,712 4,797,667
128,524 218,352 912,326 98,861 4,994,042
–44,713 2,973 –245,958 –22,966 –327,904
–11,898 16,600 –66,698 –34,845 384,966
15,762 1,713 –36,093 –17,135 73,339
–28,081 –232 –33,286 –5,465 200,381
–1,865 –13,714 8,568 –3,830 –186,237
21,396 18,469 –39,178 2,533 54,037
(of which in GBP) Vatican Other
627,886 1,923 4,308
500,137 1,221 2,680
420,005 1,378 2,424
367,443 1,716 2,557
–187,857 –778 –1,808
–69,161 236 153
–16,405 –89 –12
6,553 437 –15
–56,481 –24 151
–63,661 269 –12
Spain Andorra Denmark Iceland Liechtenstein
A 28
BIS Quarterly Review, September 2011
Table 6A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets ii) Other
6,702,567
6,515,059
6,845,916
7,207,399
–238,793
333,496
–19,876
234,644
–19,713
320,581
Australia Canada Japan (of which in JPY) New Zealand
317,482 376,634 679,143 298,860 39,037
371,291 394,719 684,268 219,392 50,151
387,674 390,600 811,150 276,952 48,960
412,857 411,020 791,296 254,548 50,034
49,478 11,535 3,493 –75,170 8,032
18,810 2,691 109,872 29,157 141
1,603 –24,054 11,181 –4,560 –813
–3,491 –14,991 79,558 34,995 153
15,531 18,215 23,576 8,485 1,009
17,938 13,330 –20,207 –16,976 38
United States (of which in USD)
5,290,275 4,429,894
5,014,473 4,228,677
5,207,321 4,411,640
5,541,820 4,726,738
–311,287 –204,518
201,944 204,797
–7,742 –10,945
173,143 164,095
–77,758 –50,521
309,318 315,098
3,699,180
3,617,867
3,880,099
3,994,725
–146,780
252,287
25,185
58,732
87,231
89,894
1,878 302,553 60,051 20,749 91,680
611 269,570 49,504 19,919 87,227
692 367,610 47,587 18,188 87,445
658 385,326 51,930 19,347 88,113
–1,265 –35,795 –10,782 –1,854 –4,983
67 97,870 –1,303 –1,877 –1,573
75 –3,968 –5,190 822 –562
–74 15,274 –4,805 –389 –182
61 9,969 2,295 –2,368 931
–47 16,599 3,930 968 281
1,595,793 ... 14,206 174,408 309,336
1,732,801 – 10,359 136,414 316,980
1,752,620 51,201 11,631 115,160 424,786
1,768,456 48,638 11,908 121,807 441,223
104,620 – –4,739 –42,158 4,931
5,617 – 1,581 –18,402 106,138
4,098 ... –858 –5,120 26,998
21,245 – 966 –92 9,685
14,116 – 103 –6,841 47,337
12,428 –3,825 –77 3,573 12,848
Isle of Man Jersey Lebanon Macao SAR Mauritius
34,211 343,648 6,647 7,308 14,071
37,581 258,226 9,763 10,909 15,606
32,804 224,822 8,285 16,992 19,943
32,528 230,502 9,601 17,175 18,586
491 –95,137 3,028 3,561 787
–3,897 –26,555 –1,273 6,166 4,332
–1,421 –10,827 –870 1,720 84
–1,038 –1,457 –276 688 1,270
–1,027 611 359 1,105 397
–1,058 –30 1,196 73 –1,502
Netherlands Antilles Panama Samoa Singapore
67,639 80,278 1,529 451,020
59,518 83,767 1,638 401,458
– 97,795 3,107 469,500
... 99,533 3,352 505,659
–8,840 3,623 105 –53,369
–3,894 8,995 1,434 62,889
3,216 –1,197 167 13,618
–2,822 4,592 293 16,800
–2,459 2,434 577 13,400
– 2,070 245 33,449
Sint Maarten Vanuatu West Indies UK
... 90 109,982
– 122 102,879
167 110 119,523
317 112 129,910
– 31 –9,725
– –13 16,315
... –8 3,878
... 28 –1,340
– –37 7,056
3 1 8,950
Offshore centres Aruba Bahamas Bahrain Barbados Bermuda Cayman Islands Curacao Gibraltar Guernsey Hong Kong SAR
Liabilities ii) Other
5,266,338
5,227,037
5,794,097
5,928,636
–75,816
531,122
37,279
160,535
121,235
96,496
Australia Canada Japan (of which in JPY) New Zealand
129,908 181,212 878,180 318,345 17,467
132,824 204,017 564,385 196,689 19,417
149,828 225,690 603,033 179,347 19,320
158,693 245,301 673,479 198,119 21,624
673 18,169 –312,881 –115,740 1,297
17,015 22,848 18,255 –41,183 –221
–2,811 3,735 25,728 –3,216 564
6,169 –8,388 –7,744 –10,677 4,126
6,822 9,175 6,571 –21,972 –3,702
6,023 16,870 66,037 22,622 1,960
United States (of which in USD)
4,059,559 3,412,707
4,306,141 3,619,822
4,796,019 4,015,319
4,829,310 4,049,656
216,879 208,562
473,289 392,192
10,181 –3,382
166,260 157,795
102,451 90,160
5,579 34,337
4,958,679
4,597,006
4,484,443
4,560,594
–470,942
–90,347
–75,389
53,537
29,241
29,010
1,554 497,310 35,066 24,035 71,188
1,721 384,602 30,834 32,931 78,320
1,075 354,800 43,262 27,285 80,013
1,665 356,245 32,962 23,055 83,450
161 –115,303 –4,664 7,709 5,700
–602 –27,764 13,094 6,082 2,234
–66 9,921 1,342 1,597 1,006
–244 3,710 3,294 666 –1,591
–276 –6,396 4,662 202 4,477
565 –280 –10,528 –4,465 2,150
1,892,485 ... 18,483 196,967 602,940
1,855,793 – 12,142 174,920 521,541
1,849,166 97,515 15,304 177,949 484,085
1,919,273 103,204 15,021 183,998 454,420
–64,931 – –7,023 –30,679 –90,570
–3,443 – 3,508 6,403 –33,408
–46,150 ... 506 1,188 –15,830
10,024 – 1,140 3,931 1,522
72,645 – 738 –434 –10,391
62,964 4,015 –638 1,085 –34,718
Isle of Man Jersey Lebanon Macao SAR Mauritius
76,986 479,413 35,876 25,639 16,117
88,754 414,368 45,365 29,558 16,997
77,795 379,200 47,133 37,228 19,733
76,024 399,605 48,024 37,425 17,780
–5,366 –88,204 9,093 3,644 430
–8,149 –48,302 2,211 8,254 2,874
2 –18,389 758 1,818 –906
–1,743 11,613 220 4,832 1,029
–990 –20,111 1,256 2,212 2,207
–3,683 9,671 389 –226 –2,117
Netherlands Antilles Panama Samoa Singapore
141,650 104,497 6,305 489,094
126,991 92,505 7,317 442,513
– 86,996 8,056 454,642
... 90,143 8,005 460,790
–16,680 –13,477 903 –53,963
–15,624 –2,925 772 12,569
–8,141 –45 –313 –6,346
67 528 540 20,041
–7,217 –1,638 284 –11,960
– 1,677 –101 1,536
Sint Maarten Vanuatu West Indies UK
... 521 233,815
– 484 230,979
8 419 228,155
1,760 474 233,029
– –46 –7,016
– –62 –3,241
... –28 4,547
... –31 –5,657
– –12 160
74 49 1,842
Offshore centres Aruba Bahamas Bahrain Barbados Bermuda Cayman Islands Curacao Gibraltar Guernsey Hong Kong SAR
BIS Quarterly Review, September 2011
A 29
Table 6A (cont.)
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
2,473,593
2,439,013
2,832,590
3,061,449
–52,150
417,402
56,595
150,223
94,149
178,139
474,442
478,645
499,124
508,665
475
27,786
–3,242
11,087
16,971
1,491
Algeria Angola Benin Botswana Burkina Faso
2,259 7,453 111 128 364
2,533 8,604 105 209 375
2,717 8,527 67 387 413
2,830 8,403 114 367 435
265 1,060 –14 2 2
280 17 –33 221 56
–146 –502 –24 –15 6
30 –3 –22 80 31
184 –138 –35 97 3
30 –285 41 –23 8
Burundi Cameroon Cape Verde Central African Republic Chad
61 1,436 742 450 97
28 1,218 700 13 90
30 1,250 722 7 65
39 1,176 729 43 71
–32 –250 –66 –425 –7
2 84 45 –5 –22
8 7 91 –1 –6
–3 273 23 –6 18
– –193 –55 1 –34
8 –125 –15 34 4
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
11 309 514 4,059 204
10 294 522 1,756 249
10 353 668 1,337 226
18 455 586 1,441 230
–2 –181 116 –2,252 43
1 70 167 –337 –34
–1 2 33 18 6
–1 93 8 –143 –28
2 –12 68 –193 –4
7 91 –97 43 2
Egypt Equatorial Guinea Eritrea Ethiopia Gabon
19,418 89 12 39 795
16,723 129 8 248 750
21,841 53 10 361 879
18,966 56 12 316 904
–135 38 –4 209 –66
5,183 –75 2 114 155
400 –9 –1 –1 20
1,722 30 3 –5 89
1,525 –18 – 115 55
–3,157 – 2 –50 –24
Gambia Ghana Guinea Guinea-Bissau Iran
94 2,472 383 5 20,407
107 3,213 319 12 18,816
100 4,622 450 7 16,579
97 4,158 364 4 16,468
12 641 –67 6 –2,034
–18 1,436 145 –4 –1,280
–1 –290 19 –1 –638
–22 92 125 –3 –974
2 1,385 10 –1 –332
–5 –537 –100 –3 –890
Iraq Israel Jordan Kenya Kuwait
1,745 11,896 3,499 1,548 36,113
1,394 14,901 4,319 1,654 23,239
1,352 20,159 4,763 1,696 22,458
1,667 23,963 4,029 1,974 23,119
–407 3,476 878 16 –13,036
–12 5,440 484 66 –786
18 3,222 519 74 1,167
24 –613 –36 90 –3,354
–85 1,513 766 –24 1,748
259 3,397 –802 235 319
Lesotho Liberia
27 21,254
22 24,169
41 26,837
71 27,104
–17 2,891
17 2,348
9 277
28 972
–20 823
30 225
2,201,344
2,106,243
2,176,175
2,268,385
–132,058
84,665
–30,477
65,356
31,203
60,471
793,157
753,651
739,658
791,516
–56,782
–12,499
–12,363
–3,142
15,832
40,252
6,427 18,413 321 1,640 325
6,204 12,376 420 1,615 347
6,255 16,287 276 1,636 466
5,810 19,177 285 2,345 420
–343 –6,603 94 –137 11
286 4,024 –124 43 137
218 1,754 –6 –316 58
77 3,155 –33 –39 36
120 231 –3 361 26
–654 2,696 –4 694 –65
Burundi Cameroon Cape Verde Central African Republic Chad
203 1,461 1,218 93 203
236 1,870 1,346 83 238
242 1,724 1,606 89 155
266 1,874 1,720 96 223
26 340 94 –13 29
8 –37 315 9 –72
–9 –433 –141 2 –97
–12 261 68 –6 39
15 –140 89 2 –72
18 75 48 3 63
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
60 893 1,226 2,626 653
56 812 1,382 2,099 796
48 1,111 1,695 2,392 462
98 927 1,897 2,501 405
–4 –105 123 –556 132
–6 344 363 394 –311
–1 –5 16 410 –39
3 93 –19 –218 –194
–5 149 245 70 –38
46 –222 167 14 –62
Egypt Equatorial Guinea Eritrea Ethiopia Gabon
30,473 838 51 603 1,199
27,206 1,125 47 643 1,229
24,983 5,073 39 972 1,201
31,855 5,003 85 787 1,054
–3,713 259 –10 –6 2
–1,630 3,987 –7 351 32
–5,034 3,139 –7 9 –70
–124 183 38 –8 29
–41 –340 –39 248 115
6,376 –103 45 –207 –195
Gambia Ghana Guinea Guinea-Bissau Iran
181 1,400 531 39 41,497
179 1,399 618 53 29,986
197 2,197 409 59 17,742
215 2,266 406 55 20,267
–10 –30 78 15 –13,021
–10 635 –195 8 –11,066
27 48 –68 –2 –1,182
14 –166 –116 7 –3,766
–26 261 –2 – –4,427
13 45 –14 –6 1,786
Iraq Israel Jordan Kenya Kuwait
3,071 35,385 13,404 8,626 52,512
4,441 32,015 12,114 8,713 42,108
4,638 25,992 14,003 8,965 49,952
4,644 29,041 14,461 9,661 63,805
1,195 –3,954 –1,463 –445 –11,542
351 –5,545 2,031 419 7,419
626 –990 1,201 189 6,566
–105 –3,135 705 –14 233
26 –624 407 –91 –671
–140 2,617 294 479 13,016
Lesotho Liberia
39 17,977
566 18,306
846 21,118
846 20,043
–135 156
174 3,167
101 37
–31 455
107 1,068
7 –1,318
Vis-à-vis countries
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets Developing countries i) Africa & Middle East
Liabilities Developing countries i) Africa & Middle East Algeria Angola Benin Botswana Burkina Faso
A 30
BIS Quarterly Review, September 2011
Table 6A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets Libya Madagascar Malawi Mali Mauritania
1,261 503 114 264 298
1,657 654 213 254 244
1,955 717 225 262 292
1,253 719 169 357 347
375 139 –7 –18 –58
29 72 10 25 57
734 –347 68 –13 16
-1,003 387 45 –11 35
442 21 4 –10 8
-731 –6 –58 83 48
Morocco Mozambique Namibia Niger Nigeria
8,038 562 826 145 10,574
10,072 907 1,001 151 8,993
9,391 1,039 834 79 7,540
11,135 1,229 866 60 7,687
2,223 125 126 10 –2,062
–274 135 –137 –71 –1,383
–119 239 –30 5 –97
723 77 20 25 –799
–179 –203 –73 –6 –224
1,324 163 10 –21 92
Oman Palestinian Territory Qatar Rwanda Sao Tomé and Principe
10,555 10 47,682 10 49
9,653 38 49,528 44 41
9,538 15 61,088 34 54
9,793 23 61,289 63 55
–934 27 1,589 31 –8
–160 –20 11,613 –10 16
–626 –51 1,737 5 2
582 1 2,458 –8 –1
–362 –2 6,171 – 3
228 8 –69 28 –2
Saudi Arabia Senegal Seychelles Sierra Leone Somalia
78,104 932 1,103 58 98
82,091 1,081 1,392 67 110
86,101 894 1,789 199 91
86,680 991 2,184 148 101
2,608 122 263 6 8
9,790 –137 444 138 –11
–10,674 –37 20 – –3
7,106 182 23 1 –7
4,573 –272 343 124 1
–1,759 51 341 –60 4
South Africa St. Helena Sudan Swaziland Syria
36,420 4 964 57 902
36,189 10 1,244 72 943
38,285 12 1,379 170 814
36,501 15 1,225 211 964
–625 6 265 –10 67
2,618 2 156 96 –112
–1,183 – 106 61 –159
2,765 2 55 –20 12
1,513 5 –110 14 –4
–2,719 3 –186 40 134
725 265 5,172 358 106,184
769 342 4,808 426 103,079
937 295 3,793 538 102,528
2,198 339 4,229 523 102,390
–71 70 –239 24 –4,194
232 –25 –733 118 –1,640
99 –7 –76 138 949
91 2 –272 54 899
17 –24 – –21 –3,885
1,245 26 268 –25 –990
1,058 878 815 21,460
1,257 1,006 377 33,203
1,477 1,054 299 26,419
1,548 1,197 315 31,652
193 14 –122 9,872
51 50 –87 –6,794
–333 –51 –41 2,167
77 6 62 –1,003
326 –39 –104 1,773
60 137 7 5,193
Libya Madagascar Malawi Mali Mauritania
72,531 1,007 144 372 513
66,089 1,482 199 489 481
59,662 1,045 460 448 606
62,673 1,005 421 489 981
–7,093 438 7 103 –43
–5,103 –393 225 –24 139
2,861 101 85 –18 –16
–4,047 –107 27 –47 69
–2,270 –147 110 –19 86
2,210 –76 –49 23 360
Morocco Mozambique Namibia Niger Nigeria
9,554 1,184 452 134 21,998
10,895 1,836 1,375 122 23,164
8,977 2,330 1,425 136 23,407
7,389 2,377 1,592 148 22,125
1,186 396 305 –15 594
–1,313 420 –41 18 96
–416 233 –400 162 –821
1,191 –56 64 –201 –961
331 437 10 –25 554
–1,898 5 153 7 –1,720
Oman Palestinian Territory Qatar Rwanda Sao Tomé and Principe
7,785 1,063 17,336 520 104
6,392 1,052 19,008 616 83
7,321 1,025 31,924 628 38
7,738 1,128 32,947 560 32
–1,540 –31 1,428 82 –20
967 5 6,891 –5 –43
561 –68 645 24 –9
1,474 –14 1,718 –64 8
–1,060 51 5,361 101 –21
307 77 792 –79 –7
Saudi Arabia Senegal Seychelles Sierra Leone Somalia
181,276 1,709 4,562 170 47
169,169 1,666 5,589 155 47
167,744 1,336 6,094 224 46
170,553 1,376 6,627 230 48
–14,372 –69 924 –19 –3
–335 –219 619 20 –
–6,398 1 97 18 –2
–2,692 –35 728 1 2
12,199 –263 228 7 –
790 –27 388 3 –
South Africa St. Helena Sudan Swaziland Syria
45,339 8 1,702 1,220 23,576
41,883 14 1,614 1,118 18,581
46,105 11 1,787 900 17,962
45,028 15 1,925 765 18,140
–4,392 5 –139 –649 –5,334
4,820 –6 214 –246 –87
–1,615 4 66 –251 –1,215
3,647 5 116 –39 706
1,008 –8 –88 25 215
–1,850 4 82 –133 –381
Tanzania Togo Tunisia Uganda United Arab Emirates
2,022 447 5,075 1,732 76,863
2,070 428 5,373 1,789 81,987
2,027 387 6,361 1,988 74,552
2,024 410 6,598 1,761 92,825
–13 –33 210 –25 3,572
–22 –24 1,162 190 –7,747
146 8 –5 329 –6,471
102 –25 513 –48 1,357
19 13 –392 –9 –41
–31 6 29 –280 17,024
Yemen Zambia Zimbabwe Residual
7,870 878 856 59,520
6,053 1,109 1,233 69,862
4,969 1,535 1,370 51,998
4,717 1,569 1,243 51,519
–1,972 152 268 8,846
–999 429 138 –17,742
–609 105 –12 –5,482
–3 239 –96 –4,082
270 –36 218 1,944
–348 19 –137 –519
Tanzania Togo Tunisia Uganda United Arab Emirates Yemen Zambia Zimbabwe Residual
Liabilities
BIS Quarterly Review, September 2011
A 31
Table 6A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets ii) Asia & Pacific
756,066
783,247
1,063,543
1,199,775
29,837
274,352
49,334
83,774
51,279
125,636
75 298 3,304 2,078 60
128 318 2,939 1,779 69
96 277 3,450 2,491 72
134 292 3,844 2,918 89
52 17 –404 –311 7
–31 –35 644 712 7
–29 11 –111 21 2
–8 3 1,268 167 2
–17 –21 –1,246 419 5
37 12 304 404 12
British Overseas Territories Brunei Cambodia China Chinese Taipei
440 832 474 153,628 51,867
509 943 846 177,283 53,854
422 1,266 849 330,256 82,430
451 1,422 803 414,538 90,092
44 99 365 23,968 1,728
–583 316 –6 152,847 27,194
14 174 –6 27,549 8,099
–33 –50 128 36,903 11,324
–56 135 –41 46,150 1,485
24 137 –48 79,982 6,931
Fiji French Polynesia Georgia India Indonesia
120 2,252 614 134,787 58,119
421 2,552 469 134,435 46,658
398 2,541 409 185,549 59,228
410 2,679 531 196,023 64,587
283 230 –135 1,877 –10,464
–31 126 –83 49,998 11,990
–226 –73 –34 9,137 –1,420
12 235 36 12,809 6,473
173 138 –144 9,830 2,164
9 –1 111 9,317 4,762
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
21,547 – 54 466 37,148
16,357 1 76 382 38,480
15,022 1 19 435 42,805
15,428 1 25 428 53,994
–5,316 1 21 –85 998
–1,263 –1 –56 51 3,966
–1,070 – 1 –7 –550
–419 –1 5 18 2,152
334 1 –10 9 –559
197 – 6 –8 10,654
Maldives Marshall Islands Micronesia
729 23,597 25
647 26,092 –
628 27,771 –
587 29,607 3
–85 2,466 –25
–18 1,456 –
–19 –1,085 –
29 1,311 –
6 911 –
–47 1,795 3
690,601
664,794
717,148
721,565
–34,231
53,307
6,909
44,604
1,975
–3,274
1,525 283 1,189 3,517 393
2,100 346 1,084 4,750 355
2,433 333 2,070 4,893 393
2,541 394 2,665 5,382 395
506 56 –95 1,164 –40
390 –1 977 175 39
175 –45 1,002 1,784 6
204 26 –891 –954 6
366 –14 705 111 –1
48 51 560 426 –
1,088 4,374 460 236,299 121,664
1,151 4,201 540 201,506 115,036
645 4,022 694 243,589 112,578
659 4,394 656 232,612 106,440
27 –265 72 –37,375 –7,913
–524 –97 157 41,821 –2,562
–243 –1,315 –54 –1,867 –3,927
–21 –7 183 34,477 –2,759
–161 –51 –40 15,037 6,064
–1 297 –44 –13,880 –6,969
Fiji French Polynesia Georgia India Indonesia
206 1,363 1,351 44,394 14,012
213 1,280 1,386 45,518 19,537
269 1,319 1,637 36,854 16,320
299 1,346 1,553 44,992 17,039
–14 –114 25 607 5,379
47 90 260 –8,463 –3,222
14 –16 –280 –6,087 –688
17 122 204 6,810 –1,864
–31 140 274 –3,738 –1,696
25 –34 –110 7,837 613
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
13,108 108 261 168 19,525
12,239 72 496 386 20,960
15,361 78 642 525 25,376
11,872 125 634 490 29,834
–976 –47 228 212 949
3,537 7 168 142 4,543
791 15 –88 82 723
1,833 –3 63 –139 –315
2,321 –7 111 184 228
–3,659 44 –25 –40 4,076
Maldives Marshall Islands Micronesia
120 7,399 36
149 8,386 26
198 10,969 24
210 10,895 40
25 893 –10
48 2,737 –4
13 51 9
12 510 –2
23 246 –
10 –197 16
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
Liabilities ii) Asia & Pacific Afghanistan Armenia Azerbaijan Bangladesh Bhutan British Overseas Territories Brunei Cambodia China Chinese Taipei
A 32
BIS Quarterly Review, September 2011
Table 6A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets Mongolia Myanmar Nauru Nepal New Caledonia
151 1,353 16 65 3,597
156 278 10 75 3,829
644 241 19 85 3,473
368 247 30 64 3,726
22 –295 –6 9 118
474 –24 3 9 –96
24 30 8 5 –109
455 –11 100 13 –216
–17 2 –106 5 48
–286 –6 11 –21 45
74 4,962 36 467 19,055
72 4,745 31 524 18,647
97 4,607 30 783 26,051
96 5,045 30 736 27,585
–6 –151 –5 41 –258
30 –193 –1 295 7,639
22 34 – 170 –38
–17 328 – 1 3,943
29 –281 –2 24 2,131
–3 402 – –56 1,377
25 186,254 3,203 30 22,757
31 201,904 2,884 17 26,873
35 198,256 3,911 8 41,009
37 208,743 4,070 7 44,247
4 14,386 74 –13 3,974
3 –5,645 1,026 –9 13,614
–3 5,317 361 1 2,887
4 –2,494 598 –2 3,222
–2 –19,447 –30 –1 5,967
2 8,840 94 –1 2,907
9 17 254 1 647
5 27 252 11 173
10 40 137 31 825
7 38 118 32 1,021
–5 7 –8 10 –480
5 10 –102 12 662
–3 19 –6 – –252
1 –4 20 –9 537
4 –3 –44 21 –7
–3 –3 –26 – 179
763 16,081 22 3,713
1,065 12,382 18 4,000
1,329 15,991 14 9,502
1,349 17,064 14 6,215
294 –3,468 –5 267
282 3,725 –3 5,433
–135 342 – 281
184 1,080 –2 3,681
114 1,910 –1 1,296
7 872 –1 –3,287
94 505 11 1,573 1,190
84 1,378 24 2,074 1,341
511 974 12 1,701 1,198
280 923 11 1,691 1,323
–13 831 –3 466 107
428 –356 –12 –349 –99
28 –181 –10 –221 –58
73 38 –4 35 39
342 16 – 48 –54
–234 –92 –2 –40 68
North Korea Pakistan Palau Papua New Guinea Philippines
142 10,346 91 1,177 18,735
106 13,089 2 3,180 17,817
111 11,223 8 3,244 17,361
62 12,637 15 3,400 16,367
–40 2,694 –89 1,894 –978
5 –1,697 6 61 –433
–1 1,279 2 246 788
11 –533 –2 58 –161
31 –691 6 18 –149
–49 1,338 7 125 –1,080
Solomon Islands South Korea Sri Lanka Tajikistan Thailand
150 57,863 1,265 101 24,081
185 42,980 1,937 112 18,850
221 50,359 2,757 161 20,531
270 57,070 2,329 271 20,658
22 –15,429 626 11 –5,446
30 5,742 823 49 1,799
17 13,046 4 5 1,395
18 3,861 214 169 –1,572
–13 –17,953 434 –51 1,121
44 6,231 –469 108 –113
Timor Leste Tonga Turkmenistan Tuvalu US Pacific Islands
13 30 11,815 14 182
22 29 14,399 20 86
125 54 13,874 18 274
117 53 14,818 16 401
8 –3 2,534 1 –99
102 23 –466 –5 198
–2 22 –430 1 –225
39 –3 532 –3 51
62 5 228 –1 93
–9 –2 899 –2 126
Uzbekistan Vietnam Wallis/Futuna Residual
8,239 3,439 41 76,661
10,846 4,086 35 90,395
12,446 4,847 33 93,883
13,493 4,535 24 95,334
2,235 624 –6 12,528
2,116 864 1 4,207
369 275 – 506
992 34 5 3,198
491 805 –3 –2,881
740 –357 –11 454
North Korea Pakistan Palau Papua New Guinea Philippines Solomon Islands South Korea Sri Lanka Tajikistan Thailand Timor Leste Tonga Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam Wallis/Futuna Residual
Liabilities Mongolia Myanmar Nauru Nepal New Caledonia
BIS Quarterly Review, September 2011
A 33
Table 6A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets iii) Europe
832,682
763,975
744,607
799,300
–83,254
3,089
–13,829
20,850
1,075
27,893
Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
970 3,135 4,700 24,362 43,508
1,365 2,575 4,965 23,747 45,173
1,151 3,461 4,001 21,427 39,658
1,248 3,537 4,144 21,551 43,566
398 –622 73 –1,280 314
–147 1,028 –711 –807 –2,870
–251 46 –287 –346 27
76 247 –78 482 –1,658
–45 591 17 147 333
41 –86 –76 –966 1,850
Czech Republic Hungary Latvia
48,876 93,897 22,814
45,826 92,776 19,982
47,471 73,675 15,701
50,496 80,247 15,581
–4,180 –3,659 –3,453
3,434 –14,574 –2,707
–1,123 367 –491
2,955 –2,376 –395
3,119 –13,081 –404
942 3,122 –1,024
Lithuania Macedonia, FYR Moldova Montenegro Poland
22,099 609 663 1,489 115,668
19,903 732 565 1,723 121,374
14,654 1,062 481 1,586 122,332
15,161 1,080 357 1,610 140,715
–2,933 105 –103 206 2,874
–3,993 146 –66 –54 4,165
–671 19 –25 24 –3,726
–544 71 –26 –8 8,629
–1,369 81 21 103 –4,742
–327 –38 –135 –66 13,175
Romania Russia Serbia
71,112 180,671 11,658
62,263 142,485 12,676
57,777 139,608 11,203
60,531 144,085 11,836
–10,726 –39,166 706
669 –907 –723
–1,895 –7,418 –587
–12 10,146 –361
2,000 634 473
–215 2,013 6
Turkey Ukraine Res. Serbia & Montenegro Residual Europe
142,785 36,251 82 7,333
132,790 26,256 65 6,734
155,806 25,575 1 7,977
169,271 25,130 1 9,153
–10,845 –10,239 –19 –701
20,272 –361 –66 1,363
3,099 –834 –4 245
4,103 –359 63 –105
11,574 2,235 –78 –531
9,463 –882 – 1,095
322,739
306,359
300,317
324,592
–25,123
5,048
–31,562
9,604
1,392
15,438
484 2,997 2,742 7,286 9,075
501 2,828 2,134 8,565 9,412
707 1,888 1,816 8,509 8,925
608 1,988 2,014 9,689 7,607
3 –183 –643 1,044 181
225 –916 –185 181 73
34 –278 –161 –925 282
134 97 4 1,475 –287
8 –1,905 –167 –505 473
–128 34 99 750 –1,718
Czech Republic Hungary Latvia
21,025 11,789 2,527
19,792 16,099 4,273
23,308 17,382 5,480
20,366 20,824 5,402
–1,693 3,358 1,615
3,834 1,906 1,317
707 –800 528
1,772 –557 –126
1,066 852 1,018
–3,718 2,600 –273
Lithuania Macedonia, FYR Moldova Montenegro Poland
1,995 617 901 215 22,219
3,133 725 1,107 258 17,156
2,774 826 695 254 23,296
2,819 854 695 277 31,428
1,010 81 182 34 –5,465
–319 117 –362 4 6,438
492 65 30 16 –2,993
–330 29 –204 44 5,625
–868 126 –141 –27 –2,067
–91 –9 –21 9 7,130
3,934 131,108 3,190
5,006 117,501 3,034
4,239 101,731 3,598
4,007 122,324 3,671
917 –18,140 –198
156 –11,757 757
–674 –28,108 –134
572 –3,611 –169
204 4,013 344
–383 17,962 –111
65,136 19,880 231 15,388
59,443 18,580 214 16,598
53,120 25,384 184 16,172
48,141 25,748 209 15,916
–6,473 –1,660 –18 923
–3,441 7,155 –31 –131
758 2,395 5 –2,802
981 3,505 131 521
–2,656 1,598 –139 136
–6,104 –204 25 –387
Liabilities iii) Europe Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
Romania Russia Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe
A 34
BIS Quarterly Review, September 2011
Table 6A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets iv) Latin America/Caribbean
410,403
413,146
525,316
553,709
790
112,174
24,331
34,513
24,823
23,120
17,897 2,415 366 ... 157,157
14,303 2,876 709 – 165,646
14,300 2,828 521 8 241,688
15,330 2,871 475 64 257,200
–3,655 418 339 – 7,490
–32 91 –185 – 76,430
–171 15 –40 ... 22,041
262 126 –14 ... 25,487
–341 –124 –19 – 8,020
872 –5 –48 56 12,927
38,563 12,678 7,334 1,932 120
47,372 10,667 5,851 1,984 62
49,040 15,214 6,190 1,812 76
51,098 16,908 6,375 1,870 63
8,664 –1,978 –1,471 –12 –58
1,745 4,457 341 –121 13
74 881 162 –40 15
1,569 457 –95 –19 –4
358 2,963 345 89 –
1,651 1,592 177 –21 –14
Dominican Republic Ecuador El Salvador Falkland Islands Grenada
3,779 2,454 3,590 37 60
3,608 2,134 3,192 35 52
4,025 2,542 3,001 38 152
4,144 2,470 3,170 42 161
–199 –320 –321 –5 –8
477 402 –207 5 96
300 37 –127 6 –3
–22 156 –142 – 44
82 238 280 – 49
70 –82 156 2 7
Guatemala Guyana Haiti Honduras Jamaica
4,556 875 252 1,535 2,118
3,775 836 196 1,285 2,065
4,478 704 155 1,235 2,218
4,585 717 158 1,310 2,271
–743 –39 –58 –255 –50
705 –135 –38 –46 160
62 –22 –8 –20 –142
–68 –39 –3 –121 –15
593 –6 –35 151 153
104 12 3 71 15
102,684 694 1,136 15,322 605
95,915 606 830 15,382 428
114,814 494 1,377 20,305 431
120,423 505 1,255 21,676 397
–7,381 –89 –282 162 –180
18,447 –108 564 4,949 3
1,534 –65 32 70 62
1,825 –54 35 3,112 –11
7,928 27 335 1,386 –2
4,340 10 –125 1,214 –37
1,250 30 5,845 512 3,684
1,315 35 6,185 930 4,080
1,377 46 6,491 584 5,393
1,382 59 6,619 679 3,577
34 3 270 407 384
–2 9 354 –338 1,234
–4 – –243 –99 –278
–28 3 200 –89 –424
24 2 263 43 2,207
–31 11 25 88 –1,845
8,128 12,795 78,069 632,406
7,488 13,304 117,073 556,404
9,358 14,421 133,690 442,587
9,551 16,304 146,635 474,192
–721 438 35,091 –96,183
1,878 1,026 22,029 78,583
–313 616 10,873 81,830
2,207 176 1,440 –6,380
–89 –99 –7,115 –17,462
66 1,860 8,961 25,220
Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil Chile Colombia Costa Rica Cuba Dominica
Mexico Nicaragua Paraguay Peru St. Lucia St. Vincent Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela Residual Int. organisations Unallocated
Liabilities iv) Latin America/Caribbean
394,847
381,439
419,052
430,712
–15,921
38,808
6,538
14,291
12,004
8,055
Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil
28,547 9,561 3,307 ... 64,620
28,042 9,587 2,814 – 63,955
26,237 9,974 2,743 – 82,911
27,147 10,556 3,058 12 85,049
–651 –142 –495 – –980
–1,553 606 –47 – 19,513
–260 66 –193 ... 567
366 787 112 ... 9,138
–2,227 65 25 – 8,021
726 401 284 11 1,499
Chile Colombia Costa Rica Cuba Dominica
23,652 13,689 6,092 2,849 218
24,593 15,173 4,656 4,288 273
26,388 14,004 4,300 5,402 289
27,672 14,652 4,075 5,765 304
733 1,447 –1,481 1,325 48
2,018 –1,386 –297 1,314 21
–59 –181 –41 509 –12
–639 402 –70 113 7
3,841 –1,325 –209 211 27
1,028 604 –260 83 8
Dominican Republic Ecuador El Salvador Falkland Islands Grenada
6,491 6,214 2,370 119 182
5,899 7,334 2,860 135 139
6,319 7,245 2,384 156 100
5,856 7,444 2,626 221 100
–605 1,109 485 4 –48
453 –74 –484 25 –35
147 –529 –346 –2 –20
–604 464 –306 12 –19
719 199 33 12 –17
–502 183 234 61 –2
Guatemala Guyana Haiti Honduras Jamaica
3,780 531 678 3,170 2,191
4,194 441 789 3,578 1,883
4,504 430 1,387 3,307 2,162
4,480 493 1,350 3,627 2,358
407 –97 109 405 –334
325 –19 593 –265 254
186 –54 146 –199 –266
–301 55 101 –275 529
467 –124 47 426 –509
–34 61 –39 315 178
Mexico Nicaragua Paraguay Peru St. Lucia
91,286 1,013 1,777 9,229 409
81,339 1,317 1,834 9,474 482
95,525 1,718 2,173 14,365 494
98,659 1,778 2,535 16,567 494
–10,486 302 38 202 63
12,897 404 357 4,906 22
6,734 200 95 1,820 –44
445 –134 –28 728 –102
4,081 196 286 –456 213
2,293 56 347 2,147 –12
St. Vincent Surinam Trinidad and Tobago Turks and Caicos Uruguay
3,435 1,092 9,083 2,035 13,680
2,780 1,264 7,728 2,217 14,639
2,602 1,279 7,190 2,166 13,045
2,669 1,341 7,105 2,088 13,766
–724 147 –1,441 120 905
–48 18 –515 –11 –1,382
–92 –66 64 –7 120
–11 –79 –682 54 39
140 70 253 –39 –2,209
7 20 –146 –128 636
59,774 23,773 215,166 2,843,452
53,842 23,890 210,686 3,175,465
54,898 23,355 214,126 2,908,343
53,027 23,838 234,959 3,102,613
–6,161 –127 –12,108 211,811
1,659 –461 13,097 63,101
–1,407 –337 15,519 –16,148
5,028 –840 –6,377 99,455
–433 219 –6,319 –57,890
–2,332 326 11,898 124,480
Venezuela Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
A 35
Table 6B: External positions of reporting banks vis-à-vis the non-bank sector Vis-à-vis individual countries in millions of US dollars Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets All countries Developed Countries i) Europe Euro area
11,001,630 10,823,080 11,006,997 11,524,209 8,321,497 5,344,071
8,153,116 5,303,531
8,143,565 5,065,439
8,554,970 5,381,086
–430,817
443,382
–122,577
374,306
–37,604
237,329
–401,624 –254,661
232,385 –35,644
–111,005 –112,694
282,169 125,886
–92,667 –91,941
168,635 91,384
3,903,844
3,881,286
3,613,168
3,830,857
–164,911
–107,595
–68,468
42,036
–60,234
33,983
3,108,159
3,118,547
2,811,942
2,999,747
–108,558
–137,711
–31,822
29,860
–116,293
9,598
Austria Belgium Cyprus Estonia Finland
74,224 154,726 31,500 3,095 44,962
71,918 149,877 31,885 2,516 47,468
65,988 148,745 30,544 2,282 43,386
69,443 170,500 31,006 2,362 48,299
–4,615 –9,673 –33 –660 679
–1,380 6,120 –643 –621 –922
1,590 530 –783 –299 –2,096
2,540 2,662 2,312 –104 490
–3,841 –4,988 –2,052 –82 –824
–206 13,173 –235 –57 2,366
France Germany Greece Ireland Italy
475,259 582,063 122,100 519,643 433,034
465,163 614,403 140,141 521,198 453,570
460,418 694,408 97,857 476,130 304,376
496,683 722,792 106,084 484,970 319,975
–25,370 10,580 13,317 –19,380 2,873
22,449 60,134 –27,298 –68,319 –84,609
–777 6,661 –16,136 –40,234 –25,026
–9,740 38,129 –6,737 1,903 –29,088
–25,269 13,722 –4,184 –8,584 –14,121
13,249 –8,561 2,728 –12,076 –2,522
Luxembourg Malta Netherlands Portugal Slovakia
371,741 10,576 614,580 78,924 11,552
332,624 10,243 596,755 81,859 11,764
374,416 9,901 535,577 55,116 12,867
392,976 10,797 571,357 68,666 13,919
–56,920 –445 –37,604 –368 –168
56,621 65 –30,319 –17,265 1,975
–6,906 –831 26,444 –10,326 158
19,118 –122 22,730 58 487
32,710 595 –32,051 –7,831 778
4,205 638 9,611 9,866 246
Slovenia Spain Andorra Denmark Iceland
13,140 362,725 1,620 82,554 9,849
13,487 336,415 1,981 88,075 9,233
13,456 287,701 1,878 75,445 4,556
15,550 305,478 1,947 93,060 5,005
–154 –36,967 302 3,405 –825
1,294 –24,877 43 –15,122 –3,041
421 –859 33 –10,807 –256
429 –3,030 –265 –1,440 –554
–266 –3,948 514 –154 –2,117
1,230 329 –39 14,132 248
Liechtenstein Norway Sweden Switzerland (of which in CHF)
6,411 56,934 79,250 174,614 65,276
5,805 50,680 93,645 168,391 59,669
6,866 53,618 96,817 181,319 72,375
6,902 61,109 94,843 194,047 73,804
–676 –7,786 12,336 –9,889 –7,430
1,183 1,289 1,633 9,406 7,154
65 507 –7,541 –6,565 22
579 –1,639 3,076 7,311 4,198
1,099 1,345 1,222 6,310 423
–222 5,640 –5,108 7,930 –518
United Kingdom (of which in GBP) Vatican Other
1,028,219 239,603 1 775
1,003,473 246,157 – 962
1,030,851 216,210 1 920
1,092,282 215,335 8 1,026
–86,774 –21,368 –3 159
76,550 –4,237 1 11
–19,910 –9,444 –1 250
76,964 3,200 1 –182
–39,931 –7,651 – 4
34,764 –6,843 7 48
All Countries
7,731,534
7,281,593
7,627,250
7,944,204
–515,687
427,365
24,360
239,022
35,174
158,387
Developed Countries i) Europe
4,929,972 2,843,324
4,535,353 2,570,310
4,907,700 2,691,628
5,094,274 2,945,738
–436,987 –302,219
431,333 182,110
58,561 31,639
194,434 146,324
45,768 –67,675
71,980 154,080
1,549,066
1,459,545
1,497,439
1,637,638
–135,349
75,544
22,866
63,900
–22,217
74,263
940,246
928,050
954,771
1,038,669
–49,693
71,576
9,015
50,822
–13,377
22,620
Austria Belgium Cyprus Estonia Finland
26,406 60,704 19,182 355 10,993
22,052 96,205 19,668 367 9,700
18,500 67,473 20,430 545 13,712
20,810 70,915 24,378 484 15,026
–4,891 32,133 72 –3 –2,478
–2,628 –22,945 1,534 195 4,816
1,755 –3,924 256 22 –1,000
–1,386 6,620 2,137 48 5,628
–1,059 –9,895 15 124 –5,586
1,406 –49 3,395 –82 665
France Germany Greece Ireland Italy
186,191 321,948 12,437 264,117 61,448
177,631 326,331 12,347 234,741 67,714
171,184 375,380 19,093 252,171 48,719
221,314 399,671 20,670 299,331 48,920
–14,051 –6,645 –346 –40,161 4,325
4,836 47,798 7,149 13,726 –14,216
–163 18,024 4,195 1,275 –3,586
12,074 13,297 –36 9,158 2,465
–13,118 12,123 760 –3,822 –941
42,078 4,476 812 37,198 –2,294
Luxembourg Malta Netherlands Portugal Slovakia
235,894 11,386 268,181 18,821 1,249
171,971 13,556 248,141 16,768 1,723
154,995 8,897 291,146 16,074 1,782
182,431 10,175 262,122 18,217 2,193
–61,688 1,737 –30,670 –2,563 421
–12,753 –3,708 52,339 688 184
–899 –785 5,257 1,411 96
1,021 –877 11,534 103 –323
–5,879 –423 9,104 –748 379
22,124 929 –39,884 1,300 307
1,317 48,437 1,375 14,605 923
1,027 39,603 1,477 12,344 1,245
1,016 36,322 1,379 19,246 1,963
1,568 39,413 1,465 22,792 1,999
–337 –10,203 54 –2,423 282
43 –1,515 –27 1,699 824
6 924 20 496 550
–6 2,443 –189 3,841 308
40 –3,290 159 –1,330 96
478 1,406 19 2,727 –36
Liechtenstein Norway Sweden Switzerland (of which in CHF)
7,422 17,666 26,150 235,808 26,357
5,882 17,417 25,143 199,708 22,488
5,337 22,871 33,015 169,900 18,628
5,809 31,411 34,955 179,440 20,817
–1,689 –994 –1,941 –40,135 –3,051
–308 3,949 6,331 –23,528 –5,173
295 2,432 –415 –19,748 –49
–289 760 6,184 –4,864 –754
–278 –1,346 –2,172 4,784 –1,444
253 7,499 889 4,365 1,635
United Kingdom (of which in GBP) Vatican Other
988,665 106,007 802 842
846,288 97,453 595 666
939,679 71,481 439 360
1,029,208 68,370 672 349
–119,629 –14,222 –223 –172
118,000 –23,589 –124 –249
25,286 4,012 –13 –129
76,639 –30 114 –81
–45,229 –18,316 –165 24
63,924 –5,057 209 –30
(of which in EUR)
Liabilities
Euro area (of which in EUR)
Slovenia Spain Andorra Denmark Iceland
A 36
BIS Quarterly Review, September 2011
Table 6B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets ii) Other
2,977,426
2,849,585
3,078,126
3,173,884
–146,963
268,029
1,689
156,283
–726
77,251
Australia Canada Japan (of which in JPY) New Zealand
110,929 125,146 232,161 142,697 13,998
130,692 137,593 181,706 86,545 15,079
152,146 134,356 202,337 90,466 14,801
158,789 142,737 196,151 86,280 14,684
17,930 10,984 –49,825 –53,902 722
26,823 390 19,105 –5,730 1,499
2,633 –1,515 –4,002 –4,787 753
1,657 –11,701 18,280 4,969 182
5,545 9,565 12,213 6,456 299
2,776 5,520 –5,913 –2,381 –467
United States (of which in USD)
2,495,187 2,143,522
2,384,446 2,036,256
2,574,377 2,209,752
2,661,422 2,282,616
–126,763 –108,220
220,176 198,699
3,853 11,706
147,844 124,778
–28,389 –25,721
75,343 72,864
1,351,612
1,323,845
1,417,465
1,460,822
–47,962
88,172
–11,003
29,492
35,837
34,534
1,801 23,677 3,986 10,848 79,231
570 26,572 3,833 11,867 77,537
620 23,493 4,915 8,226 78,296
600 22,543 4,924 8,486 78,933
–1,227 2,020 –189 121 –2,101
27 –2,983 1,003 –3,849 –895
92 –4,781 690 80 179
–80 2,377 –271 –263 –159
38 –1,189 172 –3,813 1,350
–28 –1,176 –31 174 352
Cayman Islands Curacao Gibraltar Guernsey Hong Kong SAR
686,476 ... 6,081 30,955 69,256
673,303 – 5,916 30,362 73,344
735,806 15,831 7,273 27,431 97,585
755,160 14,035 7,438 27,767 109,322
–17,807 – –638 –2,001 3,320
53,673 – 1,522 –2,602 23,873
6,974 ... –1,137 222 5,213
17,993 – 755 –1,016 3,441
18,471 – 735 –1,548 8,369
18,897 –1,872 –28 –381 10,303
Isle of Man Jersey Lebanon Macao SAR Mauritius
21,975 164,996 3,883 3,496 9,269
23,751 138,440 5,115 3,737 10,483
21,724 125,133 3,871 3,291 14,389
22,012 123,770 3,941 3,148 13,275
149 –32,229 1,161 232 653
–1,467 –8,817 –1,135 –442 3,854
–1,167 –13,814 –816 –286 –397
104 –384 –180 99 1,439
–736 2,277 187 –11 5
–224 –4,351 –12 –152 –1,174
Netherlands Antilles Panama Samoa Singapore Sint Maarten
18,048 68,074 1,398 40,018 ...
17,983 72,072 1,507 46,882 –
– 87,604 2,799 48,348 80
... 89,775 3,013 54,744 223
–200 4,358 109 6,554 –
–501 10,624 1,263 651 –
101 –1,650 160 –3,687 ...
55 3,554 215 3,399 ...
–197 2,047 515 2,110 –
– 2,569 217 5,807 –3
Vanuatu West Indies UK
69 96,423
84 88,394
81 102,438
84 109,624
13 –10,431
–10 14,042
–4 3,473
36 –2,070
–38 7,066
2 5,970
Offshore centres Aruba Bahamas Bahrain Barbados Bermuda
Liabilities ii) Other
2,086,648
1,965,043
2,216,072
2,148,536
–134,768
249,223
26,922
48,110
113,443
–82,100
Australia Canada Japan (of which in JPY) New Zealand
39,007 57,071 128,558 46,603 7,269
52,129 71,499 106,853 38,935 8,361
42,188 81,290 106,177 29,347 8,996
47,339 75,340 115,118 33,873 9,665
12,145 13,802 –20,935 –5,777 1,094
–9,348 10,488 –4,862 –14,337 617
–1,879 5,822 9,496 7,250 825
–4,679 –2,193 1,163 –3,256 1,161
–2,562 8,150 –6,670 –11,005 –1,098
4,311 –7,305 8,398 5,171 508
United States (of which in USD) Offshore centres Aruba Bahamas
1,854,741 1,549,522 1,448,497 1,123 48,319
1,726,049 1,403,921 1,339,267 1,131 48,148
1,977,361 1,638,698 1,292,674 769 45,972
1,901,016 1,599,921 1,358,542 971 41,847
–140,868 –140,984 –150,118 4 –904
252,425 226,246 –50,579 –331 –1,189
12,780 23,466 –31,507 –104 –10,705
52,552 67,856 –6,804 –71 6,136
115,732 83,687 15,697 –235 –3,710
–88,009 –38,777 49,316 180 –4,740
Bahrain Barbados Bermuda Cayman Islands Curacao
5,670 12,618 59,382 573,373 ...
5,195 19,904 62,591 525,263 –
5,258 10,705 61,038 496,983 13,304
5,790 4,736 65,939 556,035 15,827
–583 6,231 2,292 –63,217 –
54 2,533 –1,327 –28,872 –
603 726 1,657 –23,564 ...
–261 223 –1,358 –16,914 –
105 –1,237 872 31,217 –
464 –6,154 4,173 55,972 2,148
Gibraltar Guernsey Hong Kong SAR Isle of Man Jersey
6,462 79,798 115,903 16,386 121,639
5,841 38,330 107,990 17,478 110,472
8,961 41,297 103,358 16,595 113,896
8,814 41,631 102,387 16,818 116,522
–862 –41,880 –9,176 –2,280 –21,510
3,274 3,097 –4,467 –314 –16,544
491 565 6,565 –248 –5,879
1,130 –67 –1,775 307 7,467
450 955 –5,052 278 –11,033
–325 –765 –2,270 –205 –652
12,115 3,931 9,144 17,578 93,159
9,905 4,371 9,679 17,801 81,409
9,246 4,491 10,810 – 76,579
9,201 4,582 10,007 ... 79,814
–2,384 396 290 –22 –13,218
–378 137 1,148 –2,358 –2,447
–346 254 204 –2,457 –1,414
–219 470 748 –1,063 2,201
402 620 416 –135 –2,056
–191 62 –884 – 1,808
5,540 56,163 ... 286 201,328
6,394 59,640 – 262 199,326
7,096 67,036 6 253 194,266
7,117 66,567 29 324 198,989
760 2,527 – –31 –5,837
731 7,006 – –8 –5,640
–171 2,823 ... –18 1,335
463 768 ... – –4,645
295 3,458 – 3 244
–20 –1,330 19 67 2,107
Lebanon Macao SAR Mauritius Netherlands Antilles Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
BIS Quarterly Review, September 2011
A 37
Table 6B (cont.)
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
1,235,282
1,258,469
1,359,351
1,416,485
19,390
120,316
1,357
61,366
18,053
31,008
273,875
281,903
293,163
297,644
7,365
11,803
–4,520
5,082
6,090
565
Algeria Angola Benin Botswana Burkina Faso
1,266 3,489 71 83 298
1,316 3,857 71 125 316
1,175 3,424 48 155 350
1,128 3,306 101 182 382
30 318 –7 25 11
–87 –417 –19 69 48
–59 –78 –28 –7 10
–27 –288 –13 27 32
130 –87 –47 21 –13
–83 –214 48 27 21
Burundi Cameroon Cape Verde Central African Republic Chad
43 1,165 126 15 92
13 1,125 124 13 82
19 1,113 182 7 58
19 1,006 186 42 69
–29 –73 –5 –2 –10
6 39 62 –5 –22
1 10 21 – –6
– 223 28 –4 3
2 –183 9 1 –19
– –152 –7 33 9
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
10 304 488 3,897 201
8 288 483 1,567 241
6 351 525 1,124 225
13 452 429 1,141 227
–2 –183 100 –2,274 37
–2 73 63 –361 –27
– –5 –7 –86 –6
–2 95 –8 25 –24
– –7 42 –170 5
6 90 –111 –35 –
11,441 77 12 19 758
9,410 116 7 245 732
9,853 27 10 360 861
8,663 35 12 312 882
695 38 –5 226 –48
436 –89 3 116 156
–7 – –1 –11 22
1,518 –1 3 34 64
–1,520 2 1 118 85
–1,298 6 2 –53 –28
93 2,035 280 5 8,568
101 2,685 287 12 8,054
92 3,961 232 7 6,503
88 3,380 239 4 6,124
7 576 – 7 –712
–20 1,297 –39 –4 –1,143
4 –362 18 –1 –795
–23 167 –37 –3 95
4 1,326 –7 –1 –427
–6 –649 –4 –3 –673
Iraq Israel Jordan Kenya Kuwait
1,504 8,054 1,659 1,017 20,913
974 8,700 2,819 1,114 15,906
937 11,906 3,024 1,246 14,723
910 14,486 2,297 1,404 14,638
–589 1,156 1,237 100 –5,091
–3 3,150 195 154 –1,238
–11 904 518 –20 833
–24 –952 19 –8 –3,776
–27 2,194 549 142 1,986
–65 2,284 –756 121 –316
Lesotho Liberia
27 20,488
20 23,333
26 26,248
26 26,499
–12 2,836
5 2,625
7 312
26 990
–26 860
– 212
Vis-à-vis countries
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets Developing countries i) Africa & Middle East
Egypt Equatorial Guinea Eritrea Ethiopia Gabon Gambia Ghana Guinea Guinea-Bissau Iran
Liabilities Developing countries
799,558
801,923
864,434
892,411
–12,189
64,996
20,799
24,107
7,189
16,256
i) Africa & Middle East
245,104
247,764
276,230
299,125
–4,378
24,555
15,239
9,445
182
18,461
3,406 4,579 227 267 252
3,545 5,151 298 333 226
3,289 3,435 190 403 231
3,271 4,811 201 445 229
48 540 66 25 –32
–76 –1,706 –95 70 19
–173 507 4 –23 6
359 –588 –7 47 3
–215 –435 –23 14 1
–176 1,327 3 37 –12
113 959 89 81 175
141 1,212 89 66 222
143 1,298 61 72 133
146 1,206 78 78 203
23 219 –2 –17 45
–1 144 –22 8 –80
–4 –194 –6 1 –96
3 191 2 8 68
3 73 –4 –5 –71
–1 –140 14 3 66
50 697 1,075 1,436 174
53 636 1,140 1,202 225
43 754 1,238 1,216 203
94 691 1,254 1,382 194
1 –76 45 –269 47
–9 151 143 81 –15
–1 20 –2 –26 6
2 44 –55 86 17
–6 22 170 81 –32
48 –89 –14 108 –13
13,652 586 30 295 995
13,374 406 20 283 868
12,726 4,883 26 353 856
13,320 4,801 69 338 800
–450 –190 –9 –26 –156
–465 4,498 7 80 21
–145 3,137 4 2 –16
286 221 33 –13 49
–541 –312 –32 45 30
427 –104 42 –27 –89
120 741 325 28 3,941
126 711 320 50 4,856
115 937 222 47 3,200
116 1,066 215 45 4,300
– –45 –12 22 660
–16 239 –87 –1 –1,400
23 –39 –25 –3 –273
–3 –39 –83 – –1,007
–5 86 –7 –1 –216
–2 118 –14 –4 952
Iraq Israel Jordan Kenya Kuwait
586 19,694 5,887 4,240 25,014
562 17,476 5,383 4,497 22,040
431 15,566 4,645 4,498 23,903
859 15,416 4,880 4,515 33,142
–37 –2,547 –586 –25 –3,426
–131 –1,682 –682 69 1,531
7 –834 442 63 1,885
16 –73 97 –32 455
–128 –100 –434 128 –46
418 –434 164 –74 9,006
Lesotho Liberia
16 17,073
135 17,449
119 20,047
133 19,253
19 206
–29 2,948
–1 84
–48 532
–9 933
15 –1,031
Algeria Angola Benin Botswana Burkina Faso Burundi Cameroon Cape Verde Central African Republic Chad Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti Egypt Equatorial Guinea Eritrea Ethiopia Gabon Gambia Ghana Guinea Guinea-Bissau Iran
A 38
BIS Quarterly Review, September 2011
Table 6B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets Libya Madagascar Malawi Mali Mauritania
727 450 89 220 136
1,358 607 161 218 147
923 659 109 184 150
813 662 111 175 175
605 144 49 –7 7
–419 59 –54 –20 11
388 –348 29 –11 –10
–427 376 –11 4 –5
–102 25 –8 –8 21
–118 –4 2 –19 19
Morocco Mozambique Namibia Niger Nigeria
4,674 504 779 115 4,836
5,383 743 920 147 5,654
5,330 827 769 43 4,385
5,708 1,009 802 45 4,250
881 48 111 34 439
231 96 –118 –103 –1,236
–126 –9 –21 9 –7
90 70 10 1 –569
117 41 –88 –6 –470
82 159 10 1 –169
Oman Palestinian Territory Qatar Rwanda Sao Tomé and Principe
7,990 8 33,654 10 48
7,908 11 36,724 40 41
7,700 12 43,957 34 52
7,908 15 41,032 33 55
–97 3 2,886 27 –7
–254 1 7,380 –7 14
–628 – –940 –1 2
620 3 3,270 –3 –1
–369 –3 3,189 1 2
201 3 –3,129 –1 –
Saudi Arabia Senegal Seychelles Sierra Leone Somalia
37,823 809 984 57 98
37,607 903 1,279 60 110
36,718 736 1,725 190 91
41,054 813 2,073 143 101
–543 71 272 – 8
–1,093 –110 491 135 –11
–3,897 –21 50 –9 –3
504 –75 3 3 –7
1,874 –12 369 131 1
3,871 37 294 –56 4
South Africa St. Helena Sudan Swaziland Syria
14,040 4 599 42 739
16,240 10 642 44 679
17,235 12 665 116 692
17,426 15 536 134 646
1,867 6 32 –6 –38
1,328 2 35 71 17
–458 – 16 12 –42
1,145 2 –23 3 25
–47 5 –6 –1 –14
–330 3 –146 17 –58
Tanzania Togo Tunisia Uganda United Arab Emirates
426 78 2,552 203 61,459
600 99 2,448 269 61,398
753 73 1,988 364 63,668
2,022 93 2,250 363 64,719
108 19 9 26 –835
156 –22 –233 99 1,584
38 – –93 70 1,044
51 3 –163 47 1,167
35 –25 –30 – –3,874
1,258 16 149 –7 554
929 595 795 8,905
1,142 729 354 13,084
1,362 770 285 11,808
1,396 888 304 11,193
207 31 –121 2,768
50 41 –79 –1,273
–341 –12 –31 –345
78 –13 63 678
340 –108 –105 271
25 115 10 –637
Libya Madagascar Malawi Mali Mauritania
5,798 669 117 285 381
5,713 863 137 263 311
7,530 567 219 205 456
7,411 524 247 229 778
–142 177 6 –28 –77
1,900 –262 78 –46 155
704 –2 54 –33 –15
1,121 – 24 16 69
–607 –34 –5 –40 92
–223 –66 25 14 313
Morocco Mozambique Namibia Niger Nigeria
4,401 270 300 91 6,999
3,993 420 694 111 7,251
4,143 476 894 114 7,617
3,771 498 875 125 8,033
–512 70 98 16 132
413 75 172 8 378
202 –6 –178 141 –549
141 22 –3 –183 –1,011
246 30 56 –23 1,288
–547 12 –27 7 366
Oman Palestinian Territory Qatar Rwanda Sao Tomé and Principe
5,768 362 8,800 163 15
4,489 274 9,084 226 12
5,016 258 19,724 148 9
5,281 286 22,079 183 13
–1,433 –91 205 53 –2
557 –11 4,445 –80 –3
205 –64 1,941 –50 1
729 –8 2,138 20 4
–7 25 155 –47 –7
171 24 2,218 30 4
Saudi Arabia Senegal Seychelles Sierra Leone Somalia
38,768 1,391 4,119 116 16
40,877 1,330 5,146 83 16
54,134 976 5,538 112 16
51,279 1,170 6,004 105 16
1,656 –97 935 –37 –1
13,271 –278 496 23 –
9,065 18 61 3 –1
4,876 –11 703 21 1
698 –105 182 –3 1
–3,433 137 331 –8 –
South Africa St. Helena Sudan Swaziland Syria
11,978 8 496 601 2,335
12,620 14 538 306 2,271
13,881 11 467 262 1,982
15,020 15 646 296 2,056
6 5 21 –485 –108
1,543 –6 –62 –63 –208
404 4 24 –10 –243
834 5 88 17 –285
–434 –8 –269 –60 155
749 4 160 33 26
Tanzania Togo Tunisia Uganda United Arab Emirates
867 292 1,561 255 30,077
864 308 1,700 330 31,809
944 276 1,579 310 32,012
989 295 1,577 329 39,670
–37 5 93 62 970
92 –19 –35 –23 –13
128 –4 10 48 –1,321
31 3 54 –33 1,782
–29 –10 – –19 –1,312
27 7 –72 14 7,028
885 503 690 8,924
1,009 563 778 10,266
1,781 717 704 7,869
1,829 673 720 8,552
94 19 –1 –14
726 158 –67 –2,274
–226 –23 94 528
–112 141 –32 –2,289
742 –89 –54 708
19 –54 4 650
Yemen Zambia Zimbabwe Residual
Liabilities
Yemen Zambia Zimbabwe Residual
BIS Quarterly Review, September 2011
A 39
Table 6B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets ii) Asia & Pacific
278,612
300,509
388,447
413,276
26,528
87,459
12,405
38,729
14,073
20,234
42 91 2,184 989 59
97 170 2,075 918 68
64 160 2,245 1,030 72
38 169 2,564 1,182 86
53 77 –143 –74 7
–32 –7 273 107 8
–7 27 –111 –17 2
–15 –13 1,132 39 2
–12 10 –1,331 50 6
–26 7 255 147 9
British Overseas Territories Brunei Cambodia China Chinese Taipei
428 389 180 53,916 12,392
489 492 350 57,832 17,839
410 727 247 87,440 21,096
451 858 273 105,385 20,522
36 94 168 5,558 5,300
–574 229 –100 29,330 2,983
10 134 –32 1,685 –421
–28 –47 27 14,800 1,411
–65 134 –32 3,008 1,560
36 120 24 16,928 –940
Fiji French Polynesia Georgia India Indonesia
25 753 303 56,377 21,017
51 897 283 58,241 22,772
48 823 229 80,942 29,782
40 823 315 81,492 31,742
24 119 –4 4,029 2,618
–19 –32 –53 22,425 6,838
3 –22 –35 7,568 –737
–12 27 39 6,830 3,511
–3 –6 –124 3,016 2,250
–8 –42 78 –120 1,526
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
7,529 – 41 347 15,460
6,701 – 76 271 17,227
6,732 – 16 278 19,270
6,933 1 21 287 22,563
–925 – 35 –77 1,646
–34 – –58 12 1,977
239 – –2 –11 –226
–61 – 2 2 36
–132 – –7 4 344
144 1 5 8 3,018
Maldives Marshall Islands Micronesia
299 23,106 25
269 25,342 –
271 26,721 –
257 28,473 2
–34 2,218 –25
4 1,297 –
–5 –1,074 –
23 1,185 –
32 880 –
–20 1,717 2
233,841
233,711
258,860
261,825
–3,652
26,026
3,557
7,885
4,208
371
116 154 694 497 9
131 168 496 835 5
146 221 763 984 3
157 253 1,343 971 2
11 8 –195 323 –4
17 60 238 148 –3
–21 –14 749 13 –4
33 71 –770 37 –
– –3 231 –9 1
9 27 570 –26 –1
British Overseas Territories Brunei Cambodia China Chinese Taipei
1,087 2,118 122 83,258 50,339
1,150 2,530 129 70,082 48,861
629 2,630 156 86,165 51,148
653 2,738 147 84,461 51,030
27 373 3 –13,742 –2,168
–539 132 30 16,118 2,298
–230 –384 –44 5,814 391
–28 –384 107 1,670 –266
–158 306 –82 5,738 1,008
9 60 –12 –2,503 –439
Fiji French Polynesia Georgia India Indonesia
105 388 348 15,319 4,394
103 329 324 16,901 4,939
90 337 414 15,525 5,746
106 341 384 16,217 6,131
–9 –65 –36 1,305 418
–16 17 103 –1,262 903
8 19 –16 –1,021 –159
2 60 58 10 548
–35 –16 36 –52 60
15 –10 –38 572 320
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
3,893 100 55 58 6,878
4,097 71 86 89 7,932
5,107 77 63 63 8,733
5,440 124 63 34 9,013
152 –39 30 26 788
1,062 7 –22 –29 805
284 16 18 18 293
946 –3 –16 –23 –222
–205 –8 –14 –27 423
274 44 –2 –31 174
Maldives Marshall Islands Micronesia
84 7,187 36
67 8,114 26
83 10,409 24
96 10,410 40
–19 838 –10
16 2,475 –4
5 –9 9
10 559 –2
– 273 –
12 –116 16
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
Liabilities ii) Asia & Pacific Afghanistan Armenia Azerbaijan Bangladesh Bhutan
A 40
BIS Quarterly Review, September 2011
Table 6B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets Mongolia Myanmar Nauru Nepal New Caledonia
88 70 16 26 1,687
110 40 10 41 1,846
509 35 8 42 1,808
235 37 19 26 1,961
40 –31 –6 14 106
382 –5 –2 – 67
32 – –3 1 –46
399 – 2 4 –86
–57 –1 –2 4 39
–281 1 11 –16 40
North Korea Pakistan Palau Papua New Guinea Philippines
44 3,552 34 203 11,111
47 3,289 30 209 10,952
45 3,566 28 329 12,664
47 3,837 28 324 12,825
1 –195 –4 –8 –2
–4 222 –2 135 2,280
22 227 –1 47 511
–19 366 – –10 919
–5 –235 –1 2 550
1 241 – –6 80
Solomon Islands South Korea Sri Lanka Tajikistan Thailand
21 46,314 1,805 3 8,652
21 50,428 1,654 2 10,039
27 57,183 2,328 – 14,366
27 57,536 2,368 – 15,361
– 3,772 247 –1 1,463
4 7,186 684 –2 4,225
–3 2,341 249 3 1,773
2 2,905 394 –2 711
–1 108 –76 –1 1,604
– –575 –12 – 795
5 3 2 1 647
5 – 57 11 171
7 – 12 31 823
7 – 8 31 1,020
– –3 55 10 –478
2 – –45 20 655
–3 – –3 – –333
1 – 49 –1 618
1 – –43 21 –11
– – –4 –1 187
224 5,769 22 2,361
654 6,171 18 2,244
805 8,111 14 7,103
813 8,568 14 3,707
430 552 –5 –128
159 2,101 –3 4,821
21 273 – 329
17 423 –2 3,148
72 1,164 –1 1,359
6 285 –1 –3,385
54 310 11 329 713
28 1,079 24 341 741
272 602 12 409 730
145 637 11 420 700
–28 740 –3 11 5
245 –436 –12 72 5
7 –108 –10 32 –61
1 –35 –4 –26 78
231 9 – 141 –33
–128 2 –2 – –59
North Korea Pakistan Palau Papua New Guinea Philippines
42 2,902 3 629 6,008
64 2,779 2 2,015 5,923
45 3,070 8 2,088 5,446
29 3,339 15 2,028 5,422
18 –202 –1 1,343 –103
–18 304 6 70 –487
– –106 1 203 –537
4 –30 –1 94 250
–9 44 6 88 –502
–17 225 7 –72 –62
Solomon Islands South Korea Sri Lanka Tajikistan Thailand
68 9,130 678 22 6,155
78 8,412 860 22 6,567
61 9,245 1,333 31 7,379
64 11,473 1,098 30 8,321
4 –952 151 –1 222
–15 839 468 8 877
–2 –18 41 – 1,035
2 2,905 168 10 –541
–13 –3,807 224 –1 195
1 2,142 –254 –1 814
8 3 32 5 181
11 2 29 7 86
54 2 28 18 269
48 2 32 3 396
3 –1 –5 – –97
42 – – 11 190
3 – –2 –2 –227
14 – – – 51
26 – –3 14 88
–7 – 3 –15 126
614 724 39 27,942
1,283 765 34 35,094
1,353 796 33 36,060
1,597 811 24 35,026
646 28 –6 6,557
93 31 2 1,169
–3 32 – –2,458
9 26 5 2,507
166 –37 –3 –87
213 3 –11 –1,463
Timor Leste Tonga Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam Wallis/Futuna Residual
Liabilities Mongolia Myanmar Nauru Nepal New Caledonia
Timor Leste Tonga Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam Wallis/Futuna Residual
BIS Quarterly Review, September 2011
A 41
Table 6B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets iii) Europe
417,701
396,259
348,366
366,079
–28,194
–29,668
–17,019
5,068
–14,725
3,618
Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
656 1,012 1,158 11,146 23,689
959 935 1,443 11,168 23,624
700 1,068 1,137 10,218 20,736
745 704 1,172 10,423 22,300
308 –97 218 –376 –761
–202 173 –219 –156 –1,009
2 –49 –44 29 –127
21 135 –11 211 311
–141 202 –63 108 –449
10 –398 –30 –363 410
Czech Republic Hungary Latvia Lithuania Macedonia, FYR
24,578 44,094 4,825 6,932 471
25,527 45,812 4,830 6,173 513
24,205 31,914 3,690 4,508 476
25,779 33,158 3,455 4,664 506
218 451 –165 –963 25
167 –10,251 –592 –1,281 41
–1,395 –2,031 –311 –267 –2
1,965 –714 –9 –215 9
–206 –7,799 –315 –437 26
349 –321 –438 –103 1
Moldova Montenegro Poland Romania Russia
112 545 58,965 26,768 91,560
92 767 60,603 27,238 77,026
128 768 56,474 23,001 65,915
132 768 61,192 23,458 66,355
–22 223 256 –412 –14,857
41 42 –382 –2,207 –10,649
–8 34 –3,483 –792 –5,920
3 –14 3,339 –467 156
24 128 –3,023 –225 –1,818
– –44 2,142 –798 –674
6,664 100,374 10,971 82 3,099
6,437 91,335 8,991 65 2,721
4,979 85,359 8,875 1 4,214
5,459 91,837 8,664 1 5,307
–450 –9,304 –2,046 –19 –426
–1,063 –3,396 –179 –66 1,520
–120 –2,220 –217 –4 –93
–236 290 261 63 –32
–510 –387 432 –78 –194
183 3,013 –373 – 1,052
Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe
Liabilities iii) Europe
92,972
94,475
100,051
94,324
–1,103
8,675
–1,851
3,660
6,320
–8,551
Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
88 303 583 1,411 1,954
100 307 473 1,859 1,856
87 472 436 2,415 1,645
97 534 419 2,311 1,768
8 1 –116 398 –145
–7 179 –10 411 –121
4 –23 –9 –83 16
3 30 20 30 –37
–9 150 –4 690 1
7 41 –39 –217 45
Czech Republic Hungary Latvia Lithuania Macedonia, FYR
5,291 4,482 471 430 247
5,599 9,623 548 633 228
5,038 9,271 607 1,036 202
5,195 8,558 584 1,015 217
55 4,423 60 197 –26
–334 215 75 381 –28
–89 –258 10 –174 –1
–177 –234 20 68 3
–376 1,309 97 –57 –26
–52 –1,101 –46 –78 5
Moldova Montenegro Poland Romania Russia
193 83 4,479 1,579 31,081
168 104 4,264 1,464 32,252
147 106 5,695 1,789 33,168
168 85 6,061 1,765 37,456
–28 20 –332 –148 507
–10 7 1,568 435 1,911
17 –2 –511 –81 –1,673
–8 26 1,107 203 1,297
–50 –14 815 83 1,577
15 –26 152 –104 3,436
Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe
1,067 33,277 2,129 10 3,814
924 27,572 2,146 2 4,353
988 31,593 2,394 7 2,955
948 21,408 2,611 6 3,118
–166 –6,074 –91 –8 366
101 4,829 359 4 –1,284
127 1,355 158 1 –636
–51 1,835 –253 3 –222
7 1,954 386 –1 –211
–86 –10,797 164 –1 132
A 42
BIS Quarterly Review, September 2011
Table 6B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Assets iv) Latin America/Caribbean
265,094
279,798
329,375
339,486
13,691
50,723
10,492
12,487
12,614
6,592
Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil
13,651 2,388 254 ... 79,913
10,819 2,841 631 – 103,704
11,232 2,805 485 8 137,793
12,229 2,815 431 60 143,729
–2,777 411 375 – 22,896
371 102 –146 – 34,314
–171 29 –28 ... 13,243
–16 109 –11 ... 8,383
18 –97 – – 3,435
896 –37 –55 52 3,933
Chile Colombia Costa Rica Cuba Dominica
21,992 8,259 4,277 715 94
24,625 7,588 3,195 599 43
24,096 8,546 3,338 526 68
24,375 8,715 3,409 548 56
2,606 –625 –1,068 –126 –51
–375 921 143 –52 25
–471 40 34 –35 14
–437 249 –60 68 –2
–63 641 75 –91 –2
134 128 64 4 –13
Dominican Republic Ecuador El Salvador Falkland Islands Grenada
3,162 1,981 1,208 37 34
3,023 1,805 780 35 24
3,191 2,063 662 28 41
3,467 2,038 616 31 47
–163 –177 –338 –5 –10
225 254 –117 –5 14
148 –7 –30 –2 –3
13 88 –70 –1 7
–92 217 85 –1 3
233 –35 –48 1 6
Guatemala Guyana Haiti Honduras Jamaica
3,089 667 96 892 1,469
2,929 813 95 683 1,144
3,119 681 62 606 1,278
3,316 691 65 593 1,337
–120 146 –2 –211 –289
189 –136 –31 –69 155
–19 –21 –8 –11 –120
56 –40 –7 –35 –77
164 –3 –30 –4 168
195 10 3 –15 38
Mexico Nicaragua Paraguay Peru St. Lucia
83,908 412 840 8,505 436
78,572 431 628 7,475 239
87,910 325 636 9,937 190
89,173 356 673 10,291 176
–5,688 19 –185 –828 –200
9,972 –103 10 2,531 –46
–2,179 –44 –4 275 18
2,307 –40 –144 1,652 –9
5,735 5 17 710 –4
373 30 36 326 –17
601 30 2,937 467 2,794
602 35 2,817 728 3,265
603 46 2,707 486 4,123
611 57 2,902 567 2,559
–8 3 –138 247 463
– 9 –104 –237 768
21 – –397 –108 –249
–65 2 193 20 –612
17 3 –105 45 1,866
–8 9 188 75 –1,579
6,609 13,377 32,171 61,068
6,291 13,339 43,556 44,094
6,882 14,902 42,471 44,145
6,991 16,562 44,148 47,784
–353 –114 18,204 –18,827
622 1,509 4,444 –1,934
–220 794 245 –2,171
692 270 –298 1,577
–178 80 893 281
37 1,627 399 2,752
St. Vincent Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela Residual Int. organisations Unallocated
Liabilities iv) Latin America/Caribbean
227,641
225,973
229,293
237,137
–3,058
5,740
3,854
3,117
–3,520
5,974
Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil
26,103 9,222 2,172 ... 26,354
25,791 9,193 2,051 – 23,692
24,225 9,598 1,701 – 27,711
24,924 10,177 1,817 12 32,137
–439 –192 –129 – –2,825
–1,337 698 –335 – 4,734
–328 –32 –52 ... 3,485
140 632 –103 ... 2,886
–1,808 383 –69 – –298
538 401 106 11 4,128
Chile Colombia Costa Rica Cuba Dominica
7,863 10,225 4,295 206 214
6,947 11,481 3,478 220 268
8,355 11,322 3,013 243 285
9,826 11,358 2,930 291 295
–960 1,227 –855 8 48
1,424 –301 –405 35 20
–155 –214 –34 9 –13
223 419 –225 29 8
1,343 –668 –36 –13 25
1,404 2 –115 39 3
Dominican Republic Ecuador El Salvador Falkland Islands Grenada
4,706 4,627 1,224 43 134
4,503 4,965 1,286 43 131
3,928 4,647 1,315 67 98
4,073 4,778 1,366 127 95
–216 330 60 –3 –9
–556 –306 37 25 –28
–267 –95 44 1 –24
–148 –89 –29 11 –10
–96 –48 56 5 –18
120 119 49 58 –4
Guatemala Guyana Haiti Honduras Jamaica
3,186 224 426 1,177 1,111
3,181 211 341 1,113 956
3,342 148 405 1,082 942
3,471 147 416 1,121 947
–10 –19 –87 –65 –172
170 –64 58 –29 –8
–4 –203 –1 –65 –242
35 7 38 31 200
42 5 7 27 –36
122 –3 10 37 –3
Mexico Nicaragua Paraguay Peru St. Lucia
43,324 632 1,244 5,124 375
42,418 678 1,241 5,030 445
43,998 843 1,252 5,154 285
44,591 734 1,188 5,205 283
–959 46 –11 –114 61
1,674 168 27 148 –153
2,410 –27 15 315 –39
–999 –19 41 130 –107
–3,147 212 68 –463 54
294 –112 –75 26 –7
3,413 364 1,038 1,454 8,183
2,766 434 1,686 1,871 8,820
2,587 458 1,718 1,843 7,214
2,632 455 1,763 1,776 7,110
–717 59 627 357 593
–50 11 39 14 –1,489
–96 –33 –282 20 –51
–10 –8 119 27 –442
134 –6 89 –6 –1,367
–15 –22 36 –114 –164
37,581 21,397 99,275 454,232
37,690 23,043 55,991 549,059
38,845 22,669 61,613 500,829
37,971 23,121 68,111 530,866
–71 1,377 3,394 80,212
1,729 –214 6,923 –25,309
–9 –180 6,288 –29,782
1,093 –764 –3,646 30,932
1,822 287 –121 –33,360
–1,180 286 3,980 16,854
St. Vincent Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
A 43
Table 7A: External loans and deposits of reporting banks vis-à-vis all sectors Vis-à-vis individual countries in millions of US dollars Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Mar 2011
2009
22,902,456 21,661,071 22,031,317 22,979,035 17,585,949 16,476,835 16,294,811 16,954,787 12,859,384 11,885,766 11,462,048 11,800,070
–1,717,010 –1,504,316 –1,339,117
931,200 354,854 112,992
Q1 2011
Loans All countries Developed Countries i) Europe Euro area
208,287 80,997 79,252
355,908 223,456 111,851
–59,552 –229,443 –279,546
445,944 220,180 –79,172
7,324,752
6,865,106
6,370,285
6,598,932
–680,414
–107,662
92,046
59,701
–237,595
–58,179
4,814,885
4,625,003
4,318,175
4,549,954
–347,192
63,501
230,148
–54,472
–171,460
–39,724
122,296 394,289 64,747 14,245 93,550
102,992 340,724 98,170 13,041 110,052
103,934 309,705 65,881 9,851 123,349
107,940 313,003 63,158 9,276 135,247
–22,766 –63,748 29,721 –1,555 13,682
4,936 –17,387 –27,309 –2,750 16,823
3,500 5,770 135 –572 15,333
1,749 18,043 –15,726 –603 697
–7,502 –9,170 –14,134 –761 12,684
–933 –8,767 –5,241 –1,137 6,792
1,388,433 1,133,782 108,117 868,623 578,773
1,295,311 1,079,263 120,620 811,305 567,283
1,328,958 1,183,532 104,078 566,464 505,636
1,327,673 1,188,005 106,189 566,503 560,206
–128,232 –86,195 8,519 –92,483 –32,287
91,502 126,319 –9,052 –122,930 –19,277
–23,950 140,169 15,205 –8,781 –31,856
59,662 –32,846 –27,011 –9,124 24,595
4,145 20,193 –5,445 –82,403 –22,819
–53,737 –52,438 –2,401 –22,820 25,356
748,234 35,369 896,847 184,658 19,695
643,821 29,224 781,079 177,548 10,334
633,167 25,904 699,408 152,185 12,704
670,000 28,117 782,976 163,046 14,525
–122,679 –6,587 –140,217 –12,433 –9,192
22,385 –2,376 –55,000 –11,682 2,847
–2,641 –2,619 24,389 –102 456
11,351 –540 40,049 –6,200 1,848
33,943 –303 –115,701 –4,631 322
10,646 1,443 53,791 2,331 1,012
Slovenia Spain Andorra Denmark Iceland
31,143 641,951 1,817 191,685 23,038
26,744 657,595 2,278 206,586 21,915
22,756 522,773 2,230 188,560 10,907
23,557 539,511 2,804 209,439 8,822
–5,266 –8,696 376 7,375 –1,621
–1,924 –102,785 98 –9,102 –402
–648 –41,741 146 –28,598 –1,041
314 –6,557 –254 18,665 1,073
–935 –45,078 557 –17,036 –1,872
–530 –11,547 438 12,823 –2,526
Liechtenstein Norway Sweden Switzerland (of which in CHF)
7,515 220,012 235,335 673,135 125,427
7,119 182,035 218,026 540,614 106,925
6,735 176,896 210,828 513,843 126,326
6,756 187,220 233,342 487,263 134,430
–540 –42,520 –21,493 –151,804 –22,373
–105 –1,621 –1,979 –28,281 8,098
–150 5,606 13,562 –109 7,119
146 –11,674 –107 –27,078 342
374 7,422 –9,393 1,082 2,239
–234 5,816 15,514 –38,296 4,543
United Kingdom (of which in GBP) Vatican Other
4,180,335 546,701 1 1,759
3,840,466 568,899 – 1,621
3,980,851 503,714 47 866
4,064,510 449,606 10 972
–448,303 –43,531 –3 –173
262,613 –31,892 43 –611
–2,047 –4,331 –31 –132
71,605 –2,882 –6 –220
–22,951 –17,573 46 –180
–14,540 –67,506 –38 50
24,467,447 23,113,393 23,271,943 24,271,391 17,091,582 16,198,903 16,394,690 17,186,820 12,256,123 11,437,162 11,116,477 11,798,665
–1,883,921 –1,265,607 –1,163,143
799,895 769,774 256,266
38,881 123,085 89,237
352,627 240,297 105,868
49,703 –42,450 –182,529
459,284 339,213 259,338
(of which in EUR) Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Luxembourg Malta Netherlands Portugal Slovakia
Deposits All Countries Developed Countries i) Europe Euro area
6,616,423
6,161,197
5,766,255
6,215,319
–648,122
–22,661
64,265
49,380
–101,699
184,806
4,319,812
4,144,423
3,812,425
4,178,031
–314,973
22,583
42,824
25,580
–92,604
119,754
114,246 460,969 48,608 2,900 89,972
108,733 445,364 59,738 1,656 99,732
82,269 404,537 47,131 1,698 98,339
98,898 420,836 51,628 2,527 97,240
–10,478 –31,693 9,255 –1,285 6,868
–20,543 –22,267 –9,689 131 1,755
4,487 1,943 –5,691 –197 4,132
–22,258 7,530 4,097 393 2,980
–13,962 –17,291 –9,697 –223 4,121
12,412 –3,000 3,174 740 –5,065
1,075,058 1,923,972 98,935 526,814 276,959
1,080,130 1,764,490 124,178 494,080 256,333
1,126,531 1,599,728 111,122 467,977 240,386
1,203,829 1,656,211 111,132 520,093 254,520
–28,252 –209,781 20,139 –59,602 –27,131
99,239 7,888 –4,161 –2,637 –3,631
2,608 17,681 26,826 9,895 6,777
68,173 –20,486 –37,359 16,406 –1,426
–13,408 43,395 –8,318 –38,893 2,158
24,731 –18,078 –5,500 33,052 1,331
780,374 17,721 827,086 84,901 3,425
658,075 18,363 693,374 84,931 5,730
643,380 20,834 597,852 82,890 5,800
689,044 22,424 730,070 83,520 6,770
–129,523 140 –160,216 –2,269 1,836
8,259 3,058 –67,060 4,252 387
–10,340 1,577 518 2,755 412
29,951 –704 6,913 2,434 –67
13,764 618 –58,207 –5,468 37
18,869 748 106,120 –3,512 617
5,034 279,449 7,752 164,399 7,484
4,666 261,624 4,195 138,998 4,749
2,914 232,867 3,108 130,743 5,914
4,255 262,322 3,126 145,792 4,226
–442 –25,687 –3,735 –33,544 –3,181
–1,627 –16,015 –953 –4,711 1,325
512 372 544 –7,398 847
–548 –6,648 –433 4,007 949
–646 319 –219 –7,356 –915
1,149 17,018 –105 8,294 –1,882
Liechtenstein Norway Sweden Switzerland (of which in CHF)
34,734 102,275 138,541 1,160,338 134,475
30,024 69,441 149,340 942,359 116,659
22,166 79,284 164,103 845,667 80,936
23,704 100,489 176,469 824,887 85,219
–5,461 –42,491 3,077 –236,305 –22,363
–4,574 –13,971 15,653 –87,534 –36,400
–4,287 15,332 3,857 –42,653 –18,699
–581 –30,040 –3,075 –38,630 –6,026
–44 –306 –13,865 14,746 –1,776
724 18,158 4,997 –43,598 2,028
United Kingdom (of which in GBP) Vatican Other
4,019,521 582,545 1,923 2,733
3,933,209 461,990 1,221 2,429
4,095,466 374,599 1,378 2,393
4,300,393 316,725 1,716 2,544
–192,158 –175,542 –778 –444
373,316 –66,614 236 144
58,844 –14,409 –89 –24
123,879 6,769 437 –24
–73,011 –52,825 –24 165
87,666 –67,667 269 7
(of which in EUR) Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Andorra Denmark Iceland
A 44
BIS Quarterly Review, September 2011
Table 7A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans ii) Other
4,726,565
4,591,069
4,832,763
5,154,717
–165,199
241,862
1,745
111,605
50,103
299,352
Australia Canada Japan (of which in JPY) New Zealand
172,410 276,206 549,087 219,315 24,144
191,627 291,054 596,482 172,742 34,220
203,086 299,710 727,882 228,209 30,827
231,034 320,639 710,227 202,631 31,052
17,805 11,820 44,888 –44,079 7,727
11,678 12,262 111,734 32,178 –2,010
7,304 –22,504 19,963 2,071 –556
–9,626 –6,173 62,832 24,734 –295
15,814 17,177 23,295 9,153 1,035
24,648 16,353 –18,284 –21,177 –361
United States (of which in USD) Offshore centres
3,704,724 3,165,762 2,984,509
3,477,664 2,990,833 2,978,328
3,571,174 3,101,728 3,199,897
3,861,536 3,371,977 3,311,097
–247,315 –175,925 –66,314
108,139 117,742 223,081
–2,413 769 23,318
64,590 80,754 45,426
–6,941 4,614 79,575
276,855 270,249 89,834
550 294,923 58,992 19,923 66,508
560 260,659 48,587 19,309 65,613
621 359,639 46,654 17,585 67,855
605 376,943 51,419 18,796 69,049
9 –36,861 –10,633 –1,631 –1,345
47 98,899 –1,316 –1,902 1,573
76 –3,813 –5,228 795 117
–71 15,651 –4,687 –472 1,944
32 10,819 2,483 –2,354 1,810
–29 16,284 4,359 1,021 763
1,186,351 ... 13,667 159,892 273,750
1,354,783 – 9,264 122,645 280,368
1,303,660 20,024 11,015 101,843 383,756
1,321,246 16,392 11,426 107,965 396,376
136,440 – –5,306 –41,181 4,467
–55,478 – 2,047 –17,865 103,284
–5,609 ... –935 –5,425 25,673
4,386 – 985 144 6,389
–790 – 437 –7,108 50,146
12,734 –3,799 79 3,444 9,803
Isle of Man Jersey Lebanon Macao SAR Mauritius
32,709 222,465 5,593 6,729 13,076
35,586 167,913 8,032 10,413 14,753
31,469 159,188 7,693 16,360 19,256
31,255 166,519 9,009 16,503 17,739
318 –62,111 2,356 3,650 947
–3,156 –4,197 –141 6,028 4,489
–1,304 –4,126 –166 1,775 157
–842 3,304 –115 602 1,152
–638 –1,835 427 1,040 624
–954 3,211 1,199 41 –1,659
Netherlands Antilles Panama Samoa Singapore Sint Maarten
19,999 78,940 1,478 417,905 ...
20,521 82,472 1,571 366,806 –
– 96,256 2,984 434,292 97
... 97,918 3,208 468,732 112
374 3,666 90 –54,145 –
224 8,769 1,378 63,397 –
2,853 –1,318 163 14,728 ...
–1,330 4,763 279 14,661 ...
–301 2,564 573 14,638 –
– 2,000 225 32,305 8
Vanuatu West Indies UK
87 100,903
121 97,698
110 114,959
112 125,238
33 –5,831
–12 17,053
–8 4,020
28 –1,436
–37 7,688
1 8,891
Aruba Bahamas Bahrain Barbados Bermuda Cayman Islands Curacao Gibraltar Guernsey Hong Kong SAR
Deposits ii) Other
4,835,459
4,761,741
5,278,213
5,388,155
–102,464
513,508
33,848
134,429
140,079
79,875
Australia Canada Japan (of which in JPY) New Zealand
123,443 169,390 781,436 291,821 12,674
128,630 194,067 479,065 170,641 14,559
144,438 216,591 501,851 144,844 14,643
151,798 236,039 565,252 163,791 17,068
3,056 20,692 –301,918 –116,998 1,413
17,121 24,209 6,187 –45,720 89
–2,943 1,937 22,982 –3,082 430
6,329 –7,911 –12,598 –12,898 3,633
7,308 9,472 8,546 –23,222 –3,329
4,645 16,845 61,243 22,095 2,177
United States (of which in USD) Offshore centres
3,748,505 3,212,880 4,842,228
3,945,238 3,377,629 4,483,558
4,400,539 3,754,891 4,351,270
4,417,822 3,772,161 4,417,867
174,313 166,082 –467,329
465,944 375,061 –107,723
11,538 2,156 –81,390
144,902 137,184 50,448
118,156 89,472 33,898
–5,065 17,270 21,819
1,522 494,158 34,851 20,437 68,579
1,681 381,503 30,773 30,553 70,185
1,072 352,555 43,153 26,208 71,431
1,652 354,204 32,793 21,767 73,928
154 –115,215 –4,511 8,939 619
–565 –26,907 13,060 7,388 1,735
–32 11,895 1,267 1,422 –1,374
–248 2,659 3,385 766 1,028
–270 –6,345 4,629 2,135 5,227
555 –75 –10,588 –4,675 1,523
1,872,984 ... 18,451 188,582 551,186
1,842,792 – 12,138 168,522 476,439
1,829,364 97,363 15,297 164,078 441,021
1,893,940 103,070 14,954 169,052 410,303
–58,168 – –6,993 –28,380 –85,872
–9,782 – 3,505 –1,407 –30,596
–49,105 ... 497 225 –18,554
8,671 – 1,143 3,630 4,474
68,784 – 741 288 –3,143
57,551 4,034 –697 639 –35,113
Isle of Man Jersey Lebanon Macao SAR Mauritius
76,927 478,378 35,371 25,104 14,722
88,688 407,557 44,826 28,694 14,502
77,751 371,814 46,646 33,578 16,586
76,015 391,613 47,370 33,566 14,885
–5,317 –93,531 9,074 3,318 –561
–8,124 –48,937 2,226 5,468 2,340
–6 –18,604 775 1,516 –641
–1,670 11,168 283 1,913 386
–994 –19,940 1,262 2,233 2,144
–3,650 9,374 256 –426 –1,852
Netherlands Antilles Panama Samoa Singapore Sint Maarten
141,495 102,679 6,257 468,671 ...
126,838 91,243 7,271 420,738 –
– 85,816 7,996 428,117 8
... 88,742 7,950 434,467 1,759
–16,677 –12,918 905 –54,462 –
–15,602 –2,858 759 9,000 –
–8,152 –88 –304 –4,639 ...
49 534 543 17,721 ...
–7,202 –1,614 276 –14,111 –
– 1,455 –96 1,994 73
Vanuatu West Indies UK
519 232,617
483 229,763
419 226,374
471 231,126
–45 –7,032
–61 –3,533
–27 4,402
–37 –5,597
–6 –18
46 1,742
Aruba Bahamas Bahrain Barbados Bermuda Cayman Islands Curacao Gibraltar Guernsey Hong Kong SAR
BIS Quarterly Review, September 2011
A 45
Table 7A (cont.)
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
2,003,726
1,923,654
2,215,935
2,394,874
–89,959
316,182
55,258
102,107
78,480
142,314
437,277
439,662
455,545
462,054
–167
23,230
–1,943
8,950
15,520
–496
Algeria Angola Benin Botswana Burkina Faso
1,958 7,229 110 61 343
2,030 8,328 105 145 353
2,023 8,243 67 306 394
1,958 8,118 114 302 417
67 1,014 –9 24 1
78 7 –29 203 59
–141 –483 –2 –31 6
7 –19 –40 67 29
171 –127 11 90 5
–126 –284 41 –6 10
Burundi Cameroon Cape Verde Central African Republic Chad
58 1,361 683 450 92
21 1,160 639 13 82
16 1,182 659 7 58
29 1,053 659 43 71
–36 –233 –66 –425 –10
–5 72 42 –5 –21
6 15 95 –1 –6
–4 244 20 –6 17
–4 –168 –55 1 –33
13 –177 –20 34 11
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
11 308 491 3,810 158
10 287 503 1,461 145
10 323 628 1,062 105
18 440 566 1,123 106
–2 –187 120 –2,294 –15
1 47 146 –321 –53
–1 5 34 67 14
–1 52 12 –90 –40
2 – 44 –263 –26
7 106 –77 6 –
Egypt Equatorial Guinea Eritrea Ethiopia Gabon
15,645 80 8 39 750
12,613 120 2 248 712
16,819 41 1 361 814
14,400 40 2 316 862
–361 39 –6 209 –58
4,209 –77 –1 114 129
459 –8 – –1 18
1,253 30 1 –5 95
1,695 –18 –2 115 57
–2,571 –3 1 –50 –1
Gambia Ghana Guinea Guinea-Bissau Iran
93 2,324 266 4 20,008
107 3,102 281 9 18,677
100 4,283 325 5 16,266
97 3,940 317 4 16,166
13 696 8 4 –1,769
–18 1,208 61 –3 –1,468
–1 –324 13 – –793
–22 79 46 –3 –918
2 1,386 16 –1 –395
–5 –409 –20 –1 –863
Iraq Israel Jordan Kenya Kuwait
1,626 9,920 3,422 1,508 34,517
1,280 12,842 4,249 1,515 22,039
1,237 15,739 4,580 1,608 21,775
1,580 17,852 3,871 1,897 21,364
–401 3,403 886 –12 –12,632
–1 3,105 370 116 –264
10 2,798 509 80 1,601
53 –769 –35 121 –3,288
–71 276 720 –12 1,762
287 1,835 –773 247 –721
Lesotho Liberia
25 19,520
22 22,435
39 25,079
69 25,298
–12 2,895
15 2,343
8 248
29 1,028
–22 804
29 193
2,135,641
2,038,833
2,090,589
2,183,828
–132,127
77,228
–37,119
72,474
19,868
62,261
782,633
746,427
725,519
778,027
–52,159
–12,889
–14,597
–1,953
15,911
41,094
6,218 18,408 321 1,573 325
5,999 12,359 420 1,574 347
6,057 16,278 276 1,581 466
5,607 19,176 285 2,290 420
–333 –6,615 94 –99 11
279 4,033 –124 29 137
220 1,754 –6 –324 58
68 3,142 –33 –48 36
120 237 –3 366 26
–648 2,704 –4 694 –65
Burundi Cameroon Cape Verde Central African Republic Chad
203 1,460 1,218 93 203
236 1,870 1,346 83 238
242 1,723 1,606 89 155
265 1,873 1,720 96 223
27 341 94 –13 29
8 –38 315 9 –72
–10 –433 –141 2 –97
–13 261 68 –6 39
17 –140 89 2 –72
17 75 48 3 63
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
60 891 1,224 2,626 653
56 811 1,381 2,099 796
48 1,111 1,695 2,353 462
98 927 1,897 2,462 405
–4 –103 123 –556 132
–6 345 363 357 –311
–1 –5 14 410 –39
3 92 –18 –220 –194
–5 150 245 35 –38
46 –222 167 13 –62
Egypt Equatorial Guinea Eritrea Ethiopia Gabon
30,201 838 51 603 1,194
26,984 1,125 47 643 1,165
24,730 5,073 39 972 1,141
31,588 5,003 85 787 994
–3,656 259 –10 –5 –52
–1,670 3,987 –7 351 32
–5,031 3,139 –7 9 –71
–133 183 38 –8 31
–42 –340 –39 248 114
6,373 –103 45 –207 –191
Gambia Ghana Guinea Guinea-Bissau Iran
181 1,400 494 39 41,099
179 1,399 597 53 29,467
197 2,196 382 59 17,200
215 2,266 381 55 19,725
–10 –29 94 15 –13,124
–10 633 –200 8 –11,125
27 47 –73 –2 –1,222
14 –166 –118 7 –3,765
–26 261 1 – –4,424
13 46 –12 –6 1,818
Iraq Israel Jordan Kenya Kuwait
3,071 34,970 13,294 8,614 51,947
4,441 31,743 12,001 8,706 41,415
4,636 25,757 13,884 8,938 49,181
4,642 28,837 14,342 9,630 63,058
1,195 –3,810 –1,466 –437 –11,661
349 –5,508 2,025 411 7,413
626 –998 1,194 190 6,571
–106 –3,176 705 –18 217
25 –547 407 –94 –669
–140 2,649 294 476 13,053
Lesotho Liberia
39 17,948
511 18,287
821 21,078
823 20,000
–141 167
204 3,157
114 38
–21 439
98 1,090
9 –1,321
Vis-à-vis countries
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans Developing countries i) Africa & Middle East
Deposits Developing countries i) Africa & Middle East Algeria Angola Benin Botswana Burkina Faso
A 46
BIS Quarterly Review, September 2011
Table 7A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans Libya Madagascar Malawi Mali Mauritania
1,057 482 112 249 286
1,597 634 212 238 237
1,803 687 225 243 285
1,100 691 169 340 339
511 140 19 –19 –53
–62 61 11 23 57
684 –346 69 –12 16
–1,011 382 44 –17 34
445 22 5 –10 9
–728 –3 –58 85 47
Morocco Mozambique Namibia Niger Nigeria
5,674 547 826 142 10,269
7,066 885 975 148 8,259
7,393 1,021 785 76 7,176
8,229 1,209 845 57 7,290
1,644 150 119 10 –2,472
645 150 –156 –72 –1,034
2 –13 –22 9 –106
264 62 11 25 –715
106 78 –83 –6 –305
494 161 37 –21 65
Oman Palestinian Territory Qatar Rwanda Sao Tomé and Principe
10,355 10 45,728 9 41
9,527 38 47,398 44 41
9,429 15 58,450 34 53
9,689 23 58,931 61 55
–859 27 1,423 32 –
–145 –20 11,182 –10 15
–632 –51 1,877 5 2
599 1 2,201 –8 –
–362 –2 6,042 – 2
235 8 244 26 –1
Saudi Arabia Senegal Seychelles Sierra Leone Somalia
74,402 860 1,070 58 98
78,491 934 1,358 67 110
81,857 782 1,505 185 91
82,679 876 1,889 119 101
2,751 48 262 6 8
9,242 –106 188 123 –11
–10,409 –29 30 – –3
7,133 174 19 1 –7
3,845 –273 86 124 1
–1,415 51 347 –74 4
South Africa St. Helena Sudan Swaziland Syria
29,680 4 964 39 902
27,290 10 1,243 58 943
28,851 12 1,377 159 812
27,445 15 1,223 204 963
–2,618 6 264 –1 67
2,036 2 154 99 –114
–301 – 106 67 –160
1,981 2 54 –27 12
1,886 5 –110 13 –5
–2,042 3 –186 43 135
Tanzania Togo Tunisia Uganda United Arab Emirates
454 253 3,801 328 97,737
564 330 3,499 414 95,950
655 284 2,991 532 95,196
658 327 3,364 516 95,402
3 70 –158 49 –2,819
154 –24 –325 123 –1,686
68 –7 –57 137 1,140
35 2 –193 57 825
26 –23 27 –23 –3,461
–9 26 227 –26 –558
Yemen Zambia Zimbabwe Residual
1,010 840 807 21,305
1,209 977 375 33,006
1,420 1,013 294 25,699
1,485 1,169 309 31,190
195 37 –110 10,251
41 37 –90 –7,317
–340 –50 –41 2,230
79 –2 62 –1,074
324 –42 –109 1,331
56 150 6 5,460
Libya Madagascar Malawi Mali Mauritania
72,356 1,005 144 371 513
65,961 1,481 198 489 481
59,547 1,044 459 447 606
62,546 1,004 419 488 979
–7,040 439 6 104 –42
–5,099 –393 225 –26 139
2,860 101 85 –18 –15
–4,048 –107 27 –47 68
–2,268 –147 109 –19 87
2,205 –76 –50 23 358
Morocco Mozambique Namibia Niger Nigeria
9,391 1,184 452 133 21,857
10,741 1,826 1,062 121 23,010
8,934 2,327 1,028 134 23,243
7,341 2,373 1,217 146 21,958
1,200 390 224 –15 580
–1,207 426 –82 17 87
–411 234 –332 161 –821
1,168 –57 87 –201 –954
354 436 29 –24 546
–1,901 4 166 7 –1,723
Oman Palestinian Territory Qatar Rwanda Sao Tomé and Principe
7,731 1,063 17,074 519 104
6,380 1,052 18,626 616 83
7,293 1,025 25,296 628 38
7,707 1,128 26,349 560 32
–1,498 –31 1,329 82 –20
952 5 6,814 –5 –43
597 –67 650 24 –9
1,472 –14 1,721 –64 8
–1,064 51 5,283 101 –21
304 77 913 –79 –7
Saudi Arabia Senegal Seychelles Sierra Leone Somalia
180,346 1,699 4,559 170 47
168,620 1,655 5,585 155 47
167,208 1,326 6,090 224 46
170,019 1,365 6,451 230 48
–13,967 –69 924 –19 –3
–227 –218 619 20 –
–6,347 – 95 17 –2
–2,504 –34 725 2 2
12,149 –263 232 7 –
799 –27 216 3 –
South Africa St. Helena Sudan Swaziland Syria
45,222 8 1,702 1,220 23,573
41,708 14 1,614 1,028 18,580
45,813 11 1,785 812 17,959
44,756 15 1,924 699 18,138
–4,442 5 –139 –628 –5,333
4,761 –6 212 –235 –89
–1,739 4 66 –205 –1,215
3,667 5 115 –62 704
1,059 –8 –89 60 216
–1,824 4 83 –113 –380
Tanzania Togo Tunisia Uganda United Arab Emirates
1,801 447 5,040 1,732 76,334
1,944 428 5,338 1,788 81,162
1,835 387 6,325 1,986 73,350
1,836 400 6,527 1,761 91,605
90 –33 211 –26 3,300
–85 –24 1,159 189 –7,996
90 8 –3 329 –6,474
77 –25 513 –50 1,087
41 13 –394 –8 –16
–26 –4 –3 –278 17,018
Yemen Zambia Zimbabwe Residual
7,862 876 856 53,783
6,052 1,102 1,233 67,869
4,955 1,530 1,369 50,033
4,703 1,568 1,241 50,319
–1,964 149 270 13,353
–1,011 431 139 –17,715
–608 107 –12 –7,701
–5 240 –96 –2,668
258 –39 219 1,927
–348 23 –138 245
Deposits
BIS Quarterly Review, September 2011
A 47
Table 7A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans ii) Asia & Pacific
587,984
587,962
819,562
941,420
4,460
227,565
45,805
57,799
50,728
115,015
74 260 3,219 1,909 60
121 294 2,885 1,631 69
95 240 3,386 2,278 72
133 250 3,772 2,658 89
46 32 –372 –291 7
–25 –51 635 647 7
–29 34 –113 –14 2
–2 –5 1,265 142 2
–17 –18 –1,250 411 5
37 8 296 357 12
British Overseas Territories Brunei Cambodia China Chinese Taipei
323 763 244 114,396 44,676
382 791 599 123,723 41,923
421 1,095 390 251,221 69,426
449 1,264 456 325,565 77,937
38 15 354 10,340 –2,903
–462 298 –209 127,620 26,439
15 169 –13 25,829 9,992
–33 –30 56 26,930 9,919
54 121 –82 38,298 772
23 152 64 71,436 8,058
Fiji French Polynesia Georgia India Indonesia
53 1,933 541 113,579 52,582
315 2,171 380 108,531 39,874
276 2,199 343 150,155 50,277
270 2,355 377 159,841 54,219
259 172 –149 –2,737 –11,649
–36 154 –35 40,627 9,948
–242 –57 –34 6,073 –1,685
24 243 31 8,915 4,952
171 119 –49 10,480 2,466
–7 28 26 8,909 3,488
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
16,546 – 53 405 25,978
12,409 – 76 336 26,529
10,992 – 19 375 29,553
10,520 1 25 370 37,982
–4,253 – 23 –71 267
–1,393 – –56 42 2,643
–536 – 1 –14 –280
–754 – 5 12 1,212
49 – –10 14 285
–590 1 6 –6 8,152
Maldives Marshall Islands Micronesia
720 23,343 25
642 25,667 –
623 27,217 –
583 29,056 2
–81 2,295 –25
–18 1,454 –
–20 –1,150 –
30 1,262 –
5 1,024 –
–46 1,803 2
662,031
630,350
685,520
688,234
–39,825
58,057
3,503
48,644
–263
–4,571
1,525 283 1,189 3,508 393
2,100 346 1,083 4,741 354
2,433 333 2,069 4,878 392
2,542 394 2,665 5,362 393
506 56 –96 1,165 –41
390 –1 977 169 39
175 –45 1,002 1,790 6
205 26 –892 –957 6
365 –14 706 110 –1
49 51 561 421 –1
1,088 4,346 458 230,994 117,882
1,151 4,131 501 190,088 111,603
644 3,940 622 234,659 107,719
659 4,337 579 221,812 101,508
28 –308 35 –43,359 –7,501
–525 –109 123 44,315 –3,911
–243 –1,294 –29 –2,979 –4,592
–21 29 171 40,426 –2,652
–162 –62 –45 15,033 5,505
– 324 –49 –15,620 –7,010
Fiji French Polynesia Georgia India Indonesia
198 1,363 1,350 35,240 13,843
213 1,280 1,386 33,771 19,375
267 1,319 1,634 32,111 15,825
298 1,346 1,551 39,766 16,549
–7 –114 26 –1,962 5,387
45 90 258 –1,373 –3,491
15 –16 –280 –6,398 –773
15 122 205 5,922 –1,995
–30 140 271 –4,565 –1,641
26 –34 –109 7,392 626
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
13,107 108 261 167 18,557
12,179 72 496 382 19,276
15,353 78 642 525 23,004
11,868 125 634 490 27,364
–1,031 –47 228 209 269
3,600 7 168 146 3,846
763 15 –88 85 629
1,832 –3 63 –139 –800
2,356 –7 111 184 428
–3,655 44 –25 –40 4,041
Maldives Marshall Islands Micronesia
120 7,396 36
149 8,380 26
197 10,948 24
210 10,871 40
25 890 –10
47 2,746 –4
13 45 9
12 532 –2
22 259 –
11 –199 16
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
Deposits ii) Asia & Pacific Afghanistan Armenia Azerbaijan Bangladesh Bhutan British Overseas Territories Brunei Cambodia China Chinese Taipei
A 48
BIS Quarterly Review, September 2011
Table 7A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans Mongolia Myanmar Nauru Nepal New Caledonia
138 1,353 16 57 3,433
148 278 10 73 3,518
333 239 8 84 3,184
302 246 9 63 3,405
27 –295 –6 15 –21
185 –26 –8 10 –86
25 27 –3 2 –99
59 –11 100 12 –241
82 3 –106 8 83
–35 –5 1 –21 23
62 4,635 33 201 14,028
64 4,366 31 250 13,366
91 4,438 28 456 20,292
90 4,853 28 404 21,335
–2 –198 –2 37 –346
32 17 –3 240 6,634
23 51 – 174 296
–19 348 – –5 2,837
29 –168 –2 37 2,567
–3 383 – –59 944
21 123,880 2,779 30 16,717
25 138,429 2,341 17 20,434
28 129,930 3,244 7 31,635
30 141,520 3,384 6 34,693
4 13,782 –39 –13 3,636
3 –9,216 909 –10 10,903
–4 5,023 360 1 1,894
4 –7,970 527 –2 2,583
–1 –13,375 17 –1 5,574
2 10,846 84 –1 2,879
9 9 251 1 646
5 13 250 11 172
10 21 134 31 825
7 19 115 32 1,020
–5 4 –7 10 –480
5 7 –103 20 663
–3 14 –6 – –251
1 –4 20 –1 539
4 –1 –44 21 –9
–3 –3 –26 – 178
737 13,678 22 3,566
1,034 10,000 18 3,761
1,280 13,284 14 9,313
1,297 14,357 14 6,017
288 –3,424 –5 181
265 3,406 –3 5,494
–135 107 – 381
174 1,056 –2 3,621
111 1,768 –1 1,284
5 910 –1 –3,292
94 505 11 1,538 1,187
84 1,378 24 2,062 1,339
510 974 12 1,504 1,197
280 923 11 1,496 1,323
–13 831 –3 489 105
427 –356 –12 –534 –98
28 –181 –10 –221 –60
73 38 –4 43 41
341 16 – –148 –55
–233 –92 –2 –38 69
North Korea Pakistan Palau Papua New Guinea Philippines
141 10,247 91 984 18,415
106 12,972 2 3,013 17,403
110 11,133 8 2,868 16,954
61 12,534 15 2,939 15,814
–39 2,680 –89 1,931 –1,106
4 –1,674 6 –139 –427
–1 1,250 2 57 744
11 –526 –2 57 –409
30 –681 6 7 150
–49 1,327 7 44 –1,221
Solomon Islands South Korea Sri Lanka Tajikistan Thailand
150 49,982 1,253 100 23,627
185 38,577 1,870 112 18,343
221 42,931 2,646 161 19,661
270 50,987 2,254 271 19,696
22 –11,912 573 12 –5,492
30 4,333 783 49 1,484
18 12,286 –35 5 1,313
18 3,645 195 169 –1,624
–13 –18,672 468 –51 947
44 7,678 –431 108 –187
Timor Leste Tonga Turkmenistan Tuvalu US Pacific Islands
13 30 11,815 14 182
22 29 14,399 20 86
125 53 13,874 18 274
117 53 14,816 16 401
8 –3 2,534 1 –99
102 22 –466 –4 198
–2 22 –430 1 –225
39 –3 532 –2 51
62 4 228 –1 93
–9 –1 897 –2 126
Uzbekistan Vietnam Wallis/Futuna Residual
8,238 3,374 40 76,588
10,846 4,040 34 90,321
12,446 4,770 33 93,421
13,489 4,194 24 94,887
2,236 641 –6 12,528
2,116 832 2 3,819
369 233 – 528
992 19 5 3,180
491 837 –3 –3,285
736 –621 –11 470
North Korea Pakistan Palau Papua New Guinea Philippines Solomon Islands South Korea Sri Lanka Tajikistan Thailand Timor Leste Tonga Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam Wallis/Futuna Residual
Deposits Mongolia Myanmar Nauru Nepal New Caledonia
BIS Quarterly Review, September 2011
A 49
Table 7A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans iii) Europe
668,119
605,101
575,455
606,881
–74,253
–8,938
–6,449
12,146
–4,974
11,040
Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
627 3,131 3,988 19,852 33,824
779 2,571 4,061 19,253 36,771
574 3,249 3,075 16,270 31,945
621 3,284 3,139 16,521 35,625
157 –622 –90 –1,209 1,791
–161 817 –780 –1,589 –2,485
–232 46 –284 –502 105
57 200 –112 136 –1,659
–177 427 –264 –325 –121
11 –116 –104 –669 1,957
Czech Republic Hungary Latvia Lithuania Macedonia, FYR
31,316 64,138 21,570 18,796 467
28,992 66,661 18,399 15,842 579
29,953 52,873 14,285 10,766 682
31,544 55,787 14,176 11,186 682
–2,979 849 –3,751 –3,562 98
1,979 –12,341 –2,586 –4,181 123
–183 1,294 –401 –566 26
837 –1,071 –446 –770 47
3,550 –11,642 –350 –1,091 74
256 441 –939 –218 –39
Moldova Montenegro Poland Romania Russia
554 1,385 73,971 59,517 160,972
469 1,549 78,229 55,463 121,295
358 1,462 81,039 49,370 115,216
230 1,453 96,480 50,997 118,213
–89 138 2,248 –5,733 –40,447
–96 –11 3,868 –1,476 –4,337
–20 – 171 –1,713 –6,476
–30 –18 4,294 –88 9,688
19 111 –2,391 1,601 –4,107
–135 –90 11,837 –970 1,134
Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe
9,150 127,668 30,172 82 6,939
10,032 116,215 21,331 65 6,545
8,464 129,592 18,428 1 7,853
8,581 131,252 18,076 1 9,033
607 –12,103 –9,043 –19 –493
–939 16,674 –2,766 –66 1,420
–513 3,292 –722 –4 236
–452 2,384 –821 63 –93
228 10,542 –452 –78 –526
–369 –1,511 –539 – 1,103
318,427
304,404
297,113
321,090
–22,703
4,657
–32,104
9,523
1,688
15,270
484 2,997 2,742 7,286 9,071
471 2,828 2,134 8,564 9,409
676 1,888 1,816 8,508 8,917
574 1,988 2,014 9,686 7,602
–23 –183 –643 1,043 181
223 –916 –185 182 73
34 –278 –160 –925 282
134 97 4 1,476 –282
6 –1,905 –167 –506 466
–129 34 99 748 –1,715
19,998 11,446 2,341 1,729 617
19,099 15,908 4,237 3,115 725
22,416 17,109 5,426 2,647 826
19,501 20,460 5,363 2,751 854
–1,351 3,515 1,759 1,251 81
3,743 2,015 1,316 –343 117
769 –787 504 371 65
1,605 –597 –99 –195 28
1,214 943 988 –884 127
–3,654 2,524 –256 –31 –9
900 215 21,207 3,921 130,154
1,107 258 16,609 5,000 117,405
695 254 22,479 4,198 101,214
695 277 30,590 3,949 121,483
183 34 –4,974 923 –17,252
–362 4 6,426 149 –11,826
30 16 –2,981 –673 –28,162
–204 44 5,628 568 –3,684
–141 –27 –2,069 206 4,101
–21 9 7,148 –397 17,660
3,190 64,757 19,873 231 15,268
3,033 59,268 18,578 214 16,442
3,597 52,871 25,214 184 16,149
3,669 47,919 25,609 209 15,892
–198 –6,267 –1,655 –18 889
757 –3,813 7,096 –31 1
–132 333 2,393 5 –2,809
–168 965 3,504 131 569
343 –2,597 1,558 –139 142
–112 –6,070 –170 25 –388
Deposits iii) Europe Albania Belarus Bosnia and Herzegovina Bulgaria Croatia Czech Republic Hungary Latvia Lithuania Macedonia, FYR Moldova Montenegro Poland Romania Russia Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe
A 50
BIS Quarterly Review, September 2011
Table 7A (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans iv) Latin America/Caribbean
310,346
290,929
365,373
384,519
–19,999
74,326
17,846
23,211
17,206
16,755
15,676 2,388 340 ... 106,141
11,937 2,824 675 – 92,378
11,298 2,763 489 – 138,768
11,803 2,802 443 60 150,347
–3,689 394 333 – –13,819
–705 76 –185 – 46,678
–16 6 –41 ... 13,894
–5 135 –13 ... 17,667
–416 –145 –19 – 3,145
433 –8 –47 60 10,926
33,836 10,245 6,126 1,833 120
42,696 7,592 4,564 1,891 62
42,872 12,107 4,798 1,740 76
44,971 13,901 4,923 1,798 63
8,737 –2,610 –1,550 –3 –58
189 4,453 236 –105 14
–143 868 144 –34 15
708 287 –124 –22 –16
638 2,950 315 99 13
1,748 1,710 117 –18 –14
Dominican Republic Ecuador El Salvador Falkland Islands Grenada
3,366 2,261 2,278 37 59
3,216 1,975 1,930 35 51
3,649 2,362 1,737 38 98
3,734 2,317 1,864 42 105
–157 –287 –270 –5 –8
483 382 –208 5 43
283 30 –115 6 –3
66 158 –158 1 40
28 212 277 –1 1
42 –55 114 2 7
Guatemala Guyana Haiti Honduras Jamaica
4,220 870 251 1,374 1,898
3,348 836 196 1,089 1,805
3,964 704 154 1,014 2,019
4,063 717 158 1,065 2,037
–834 –34 –57 –288 –89
618 –134 –39 –66 218
42 –50 –9 –27 –80
–57 –10 –3 –116 –5
564 –6 –35 136 152
96 12 4 48 –17
Mexico Nicaragua Paraguay Peru St. Lucia
74,522 644 908 13,504 579
67,878 559 770 13,778 403
82,102 484 1,130 18,283 403
83,652 489 962 19,284 391
–7,035 –86 –112 391 –179
13,882 –72 362 4,465 1
3,198 –65 19 100 55
288 –29 26 2,698 –11
5,322 39 313 1,264 3
994 4 –170 877 –15
1,191 30 5,653 500 2,581
1,249 35 6,006 918 3,095
1,327 46 6,325 573 4,361
1,333 59 6,450 669 2,543
28 3 284 407 510
14 9 367 –337 1,194
6 – –221 –102 –167
–34 3 174 –89 –437
13 2 264 43 2,189
–29 11 22 89 –1,837
6,326 10,589 41,262 287,010
5,499 11,639 50,520 231,734
7,191 12,498 64,358 256,316
7,505 13,969 62,622 255,655
–899 980 8,486 –64,904
1,723 767 13,591 23,491
–120 372 8,458 40,256
1,927 164 1,042 –16,123
–169 15 479 11,355
200 1,450 –2,938 –3,447
Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil Chile Colombia Costa Rica Cuba Dominica
St. Vincent Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela Residual Int. organisations Unallocated
Deposits iv) Latin America/Caribbean
372,550
357,652
382,437
396,477
–17,440
27,403
6,079
16,260
2,532
10,467
Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil
27,843 9,518 3,096 ... 53,643
27,522 9,535 2,490 – 48,854
25,994 9,957 2,725 – 54,186
26,839 10,512 3,037 12 59,386
–468 –151 –608 – –5,091
–1,277 650 259 – 5,902
–10 83 –32 ... 912
347 816 219 ... 9,446
–2,208 67 26 – –2,306
661 375 281 11 4,587
Chile Colombia Costa Rica Cuba Dominica
21,945 12,341 5,720 2,849 218
23,834 14,094 4,583 4,285 273
25,521 12,811 4,241 5,387 289
26,844 13,468 4,034 5,756 304
1,699 1,715 –1,182 1,321 48
1,952 –1,454 –283 1,357 21
–161 –299 19 507 –12
–1,057 391 –74 164 7
4,265 –1,371 –204 207 27
1,071 614 –242 90 8
Dominican Republic Ecuador El Salvador Falkland Islands Grenada
6,431 6,058 2,286 116 182
5,860 7,019 2,458 135 139
6,280 7,093 2,280 156 100
5,824 7,334 2,417 221 100
–585 950 167 7 –48
454 89 –186 25 –35
148 –492 –305 –2 –20
–611 522 –2 12 –20
718 141 199 12 –16
–495 225 129 61 –2
Guatemala Guyana Haiti Honduras Jamaica
3,594 531 646 3,105 2,183
4,115 441 771 3,508 1,863
4,367 430 1,368 3,251 2,157
4,346 493 1,337 3,591 2,354
514 –97 123 399 –346
267 –15 592 –251 269
200 –54 151 –158 –266
–281 59 91 –296 525
401 –124 51 409 –489
–31 61 –33 335 179
Mexico Nicaragua Paraguay Peru St. Lucia
87,206 1,007 1,759 8,732 409
78,266 1,310 1,813 9,074 482
92,476 1,705 2,143 13,355 494
94,982 1,767 2,504 15,628 494
–9,549 301 35 306 63
14,143 398 348 4,298 22
5,500 190 100 1,800 –44
2,448 –129 –38 380 –102
4,193 196 277 –655 213
1,666 58 346 2,218 –12
St. Vincent Surinam Trinidad and Tobago Turks and Caicos Uruguay
3,431 1,092 9,013 1,870 13,271
2,778 1,262 7,650 2,216 14,269
2,599 1,279 7,107 2,163 12,899
2,662 1,341 7,020 2,084 13,630
–722 146 –1,449 284 944
–49 20 –520 –12 –1,156
–92 –67 51 –7 178
–11 –78 –675 51 96
138 70 241 –36 –2,150
3 20 –147 –129 646
58,861 23,594 210,320 187,676
53,008 23,745 208,549 183,550
54,456 23,168 211,191 224,203
52,531 23,625 232,272 250,604
–6,080 –90 –9,307 –9,551
2,083 –504 12,942 47,672
–1,421 –316 16,347 17,958
4,997 –934 –6,634 –3,959
–47 285 –6,307 44,693
–2,386 300 12,223 23,769
Venezuela Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
A 51
Table 7B: External loans and deposits of reporting banks vis-à-vis the non-bank sector Vis-à-vis individual countries in millions of US dollars Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
6,312,721 4,411,962 2,760,692
5,995,821 4,131,798 2,615,703
6,709,509 4,646,501 2,988,572
–462,811 –409,309 –261,893
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans All countries Developed Countries i) Europe Euro area
6,374,150 4,400,096 2,794,077
394,686 273,078 178,926
23,522 31,116 47,245
210,054 157,084 114,707
46,738 6,578 –18,394
195,450 132,527 89,078
1,768,383
1,637,656
1,731,726
1,832,637
–193,290
68,374
51,296
35,978
3,942
22,128
1,202,390 32,565 102,365 29,068 2,883
1,115,214 30,132 87,775 29,107 2,370
1,180,101 27,410 78,168 28,009 2,065
1,253,192 30,124 91,111 28,422 2,182
–129,180 –3,212 –17,023 –303 –589
48,374 –657 –7,393 –534 –594
71,121 –84 –2,886 –611 –288
31,535 1,663 1,110 2,084 –102
–37,485 –3,180 –6,125 –2,143 –64
–1,479 1,256 8,727 –139 –9
Finland France Germany Greece Ireland
25,390 290,474 267,091 27,917 226,397
21,541 240,947 279,761 29,169 238,561
21,020 258,019 377,016 32,342 263,001
21,748 288,729 385,157 35,618 265,819
–4,728 –58,132 3,622 681 653
647 29,793 56,754 4,402 –14,586
2,079 15,242 31,297 4,119 –12,761
282 –15,590 –3,748 892 8,261
–2,769 –4,062 43,132 331 3,181
–458 18,351 –10,806 1,790 –7,409
Italy Luxembourg Malta Netherlands Portugal
50,750 220,506 10,144 327,759 23,571
51,102 185,741 9,884 282,011 23,516
45,027 201,536 9,496 255,780 17,403
50,119 217,260 10,085 264,784 20,062
–886 –48,294 –354 –53,668 –923
–262 22,821 –29 –18,670 –3,157
1,981 –5,877 –687 18,769 –1,274
–2,155 11,856 –128 26,732 1,665
–1,428 19,610 632 –37,923 –3,516
2,551 7,808 359 –751 1,638
Slovakia Slovenia Spain Andorra Denmark
7,464 11,339 112,700 1,619 59,759
7,569 11,021 107,449 1,802 56,799
8,110 10,123 97,201 1,636 50,222
8,686 10,816 101,915 1,705 66,670
–137 –716 –9,280 122 –4,538
971 261 –1,390 –30 –3,023
259 20 1,999 32 –4,591
192 149 2,815 –315 –921
556 –114 –2,175 391 1,927
77 84 –941 –26 13,833
Iceland Liechtenstein Norway Sweden Switzerland
6,497 5,852 34,921 56,940 147,128
6,419 5,301 31,664 64,970 132,987
2,560 5,102 32,616 61,949 141,907
2,650 4,959 40,771 63,253 150,343
–207 –620 –4,410 6,695 –17,103
–2,627 –36 2,162 –1,534 7,596
–296 53 771 –1,452 –4,358
–453 33 –887 7,042 5,183
–1,908 488 1,127 –7,527 7,191
–17 –357 7,024 –679 4,810
(of which in CHF) United Kingdom (of which in GBP) Vatican Other
50,314 678,900 135,567 1 692
38,003 677,249 131,015 – 856
44,050 765,585 120,824 1 773
42,030 824,701 128,463 8 875
–13,388 –48,676 –18,471 –3 135
3,216 108,073 –141 1 –29
–282 5,665 –1,831 –1 126
–678 69,115 –5,484 1 –69
2,185 –24,002 4,583 – –22
–3,121 42,304 4,225 7 50
7,024,813 4,622,689 2,604,146
6,589,850 4,321,924 2,414,207
6,987,431 4,701,795 2,533,212
7,263,470 4,876,955 2,778,416
–525,095 –380,413 –252,836
478,911 444,179 185,381
33,558 51,500 23,677
213,439 186,060 143,664
102,281 67,532 –50,984
133,405 64,709 148,988
1,444,638
1,373,236
1,418,485
1,544,618
–117,244
79,733
22,544
56,828
–13,151
61,587
902,956
900,969
933,687
1,016,772
–38,588
76,172
7,996
50,866
–10,628
23,121
Austria Belgium Cyprus Estonia Finland
25,804 59,819 19,162 317 9,815
21,238 96,024 19,650 367 9,017
18,216 67,307 20,396 538 12,321
20,498 70,690 24,334 481 12,877
–5,084 32,837 74 34 –1,697
–2,116 –22,690 1,521 195 4,104
1,685 –3,680 261 23 –1,053
–1,246 6,798 2,125 51 5,337
–1,039 –9,766 8 121 –5,312
1,394 –98 3,386 –78 15
France Germany Greece Ireland Italy
170,356 304,166 12,350 226,763 58,434
168,377 312,076 12,275 200,107 65,733
162,359 366,730 19,051 218,405 47,947
213,262 390,802 20,626 258,659 47,950
–7,718 –3,549 –324 –37,413 5,433
4,892 50,826 7,176 14,561 –13,121
–682 17,469 4,195 1,465 –3,234
11,350 13,491 –58 3,889 2,192
–12,361 14,084 771 3,155 –584
43,190 4,733 811 30,441 –2,441
Luxembourg Malta Netherlands Portugal Slovakia
218,048 11,374 260,324 18,549 1,191
153,776 13,553 243,857 15,723 1,660
134,436 8,891 287,933 15,881 1,722
155,048 10,167 259,001 18,003 2,130
–61,893 1,748 –27,063 –3,330 421
–15,150 –3,712 53,267 1,491 185
–1,526 –718 5,767 1,321 101
394 –875 10,972 237 –324
–7,048 –425 9,033 –695 391
15,349 927 –39,655 1,289 308
1,310 46,856 1,374 8,015 902
1,010 38,793 1,477 8,576 1,230
996 35,356 1,378 12,433 1,958
1,549 38,541 1,465 16,188 1,991
–347 –9,373 56 64 289
39 –1,734 –29 4,176 833
3 1,148 18 –1,084 549
–2 2,497 –187 2,606 308
42 –3,527 157 1,051 95
479 1,537 20 3,275 –39
Liechtenstein Norway Sweden Switzerland (of which in CHF)
7,406 12,622 25,283 226,353 22,878
5,837 14,535 23,537 193,156 21,000
5,292 16,365 26,496 161,636 17,460
5,766 24,597 30,612 170,860 19,684
–1,717 1,245 –2,648 –35,872 –2,385
–306 2,136 3,857 –25,190 –4,762
296 1,950 – –19,842 –208
–290 –112 4,900 –4,826 –643
–278 –1,416 –4,244 4,449 –1,590
255 7,402 3,233 4,162 1,700
United Kingdom (of which in GBP) Vatican Other
875,909 93,428 802 842
791,362 92,756 595 666
888,377 67,112 439 353
981,298 64,613 672 349
–96,614 –9,750 –223 –172
120,540 –23,306 –124 –245
19,389 3,075 –13 –130
84,416 –691 114 –93
–37,524 –15,851 –165 41
68,909 –4,330 209 –23
(of which in EUR) Austria Belgium Cyprus Estonia
Deposits All Countries Developed Countries i) Europe Euro area (of which in EUR)
Slovenia Spain Andorra Denmark Iceland
A 52
BIS Quarterly Review, September 2011
Table 7B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans ii) Other
1,651,270
1,516,095
1,606,019
1,657,929
–147,416
94,152
–16,129
42,377
24,972
43,449
Australia Canada Japan (of which in JPY) New Zealand
48,785 72,709 123,771 68,234 7,337
54,142 69,274 113,070 45,780 7,674
60,799 72,579 140,018 49,804 6,376
70,616 78,155 136,024 42,476 5,895
4,793 –3,963 –11,189 –21,969 –388
7,939 3,865 21,769 –1,288 380
2,879 –1,513 5,517 1,374 231
–1,868 –6,107 2,556 –5,038 –153
1,747 8,514 11,180 8,914 263
8,324 4,326 –4,067 –6,385 –599
United States (of which in USD) Offshore centres
1,398,665 1,215,024 839,807
1,271,915 1,078,673 838,324
1,326,168 1,138,262 883,691
1,367,168 1,171,828 926,931
–136,658 –136,865 –19,582
60,142 64,144 49,309
–23,226 –12,898 –11,815
47,931 49,475 18,231
3,219 9,961 22,842
35,473 33,566 34,958
500 22,195 3,813 10,364 57,449
519 22,791 3,754 11,538 57,539
570 22,834 4,805 7,868 59,744
569 19,926 4,782 8,171 60,910
20 –88 –91 282 –247
28 35 976 –3,912 1,552
69 –2,399 555 67 560
–57 2,308 –187 –322 1,984
9 –735 221 –3,800 1,901
–9 –3,092 –61 217 830
322,435 ... 5,555 20,819 58,452
327,953 – 5,118 20,042 60,014
326,951 11,654 6,660 17,291 81,027
348,304 9,259 6,958 17,210 92,211
1,142 – –925 –2,071 687
465 – 1,685 –2,373 20,549
–6,924 ... –1,195 –94 5,560
2,751 – 801 –779 521
7,487 – 612 –1,683 7,926
19,129 –2,470 127 –555 10,095
Isle of Man Jersey Lebanon Macao SAR Mauritius
20,567 92,468 2,902 3,296 8,658
21,863 74,563 3,511 3,553 10,087
20,563 72,089 3,370 3,103 13,891
20,847 72,374 3,473 2,946 12,610
–18 –22,425 542 250 879
–805 –98 –39 –447 3,741
–1,057 –5,415 –125 –219 –349
289 3,664 –71 108 1,339
–377 –128 262 –52 –28
–191 –1,440 24 –165 –1,340
Netherlands Antilles Panama Samoa Singapore Sint Maarten
10,251 67,308 1,363 32,224 ...
11,040 71,209 1,451 37,086 –
– 86,493 2,688 39,284 12
... 88,591 2,884 44,679 18
677 4,260 87 4,626 –
785 10,377 1,207 1,287 –
815 –1,670 159 –3,885 ...
317 3,742 206 3,671 ...
–311 1,983 501 2,412 –
– 2,496 199 4,970 –
Vanuatu West Indies UK
67 89,398
83 84,702
81 98,396
84 105,992
14 –7,109
–9 13,643
–4 3,614
36 –2,141
–38 6,518
2 6,421
Aruba Bahamas Bahrain Barbados Bermuda Cayman Islands Curacao Gibraltar Guernsey Hong Kong SAR
Deposits ii) Other
2,018,543
1,907,717
2,168,583
2,098,539
–127,577
258,798
27,823
42,396
118,516
–84,279
Australia Canada Japan (of which in JPY) New Zealand
37,111 53,193 123,844 44,006 6,040
50,693 67,868 104,589 38,165 7,803
40,273 80,025 103,968 28,632 8,468
44,528 74,109 112,478 33,085 9,046
12,631 13,610 –19,962 –5,468 1,328
–9,816 12,864 –4,807 –14,229 659
–2,221 5,592 9,822 7,308 729
–4,960 –1,380 1,041 –3,251 928
–2,390 8,157 –6,700 –10,875 –838
3,449 –7,260 7,984 5,082 429
United States (of which in USD) Offshore centres
1,798,354 1,509,162 1,411,948
1,676,618 1,372,636 1,311,978
1,935,792 1,609,734 1,265,112
1,858,322 1,570,548 1,329,207
–135,176 –135,170 –140,264
259,994 227,959 –50,091
14,017 22,728 –38,924
46,663 61,872 –729
120,395 86,266 23,304
–88,881 –39,186 47,767
1,113 47,951 5,664 9,249 57,080
1,119 47,747 5,179 17,811 60,750
768 45,522 5,241 9,912 59,235
969 41,465 5,770 3,793 63,860
2 –934 –592 7,514 2,758
–320 –1,230 55 3,836 –1,133
–95 –10,657 506 633 –612
–71 5,985 –166 329 1,504
–234 –3,626 106 568 1,608
179 –4,672 461 –6,304 3,905
Cayman Islands Curacao Gibraltar Guernsey Hong Kong SAR
564,060 ... 6,460 78,102 106,538
519,627 – 5,837 38,249 103,295
492,071 13,217 8,952 41,207 98,739
550,106 15,760 8,811 41,537 97,927
–59,451 – –863 –40,200 –4,997
–28,027 – 3,269 3,094 –4,200
–23,742 ... 481 –187 2,321
–16,623 – 1,140 690 1,672
31,594 – 446 1,615 –637
55,010 2,168 –319 –765 –2,049
Isle of Man Jersey Lebanon Macao SAR Mauritius
16,354 120,982 12,106 3,885 7,838
17,417 109,932 9,862 4,348 7,288
16,592 113,284 9,243 4,443 7,833
16,814 116,052 9,196 4,515 7,301
–2,253 –21,391 –2,416 419 –691
–256 –16,619 –340 113 680
–253 –5,800 –333 250 483
378 7,348 –187 472 146
284 –11,129 406 596 352
–206 –506 –193 43 –606
17,455 91,915 5,492 50,651 ...
17,742 80,364 6,350 52,454 –
– 75,491 7,038 58,455 6
... 78,552 7,063 57,357 29
43 –13,021 764 1,600 –
–2,386 –2,491 716 5,749 –
–2,467 –1,449 –161 2,815 ...
–1,068 2,199 465 –49 ...
–141 –2,046 287 3,345 –
– 1,633 –16 –1,894 19
285 200,186
261 198,210
253 192,856
321 197,415
–31 –5,806
–7 –5,905
–18 1,187
– –4,548
3 69
64 1,960
Aruba Bahamas Bahrain Barbados Bermuda
Netherlands Antilles Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
BIS Quarterly Review, September 2011
A 53
Table 7B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans Developing countries
999,090
980,477
1,038,041
1,082,680
–18,475
67,691
3,487
33,413
14,539
27,690
i) Africa & Middle East
258,216
263,993
269,897
274,507
5,511
6,094
–3,491
3,302
3,545
1,172
Algeria Angola Benin Botswana Burkina Faso
1,253 3,426 70 37 298
1,303 3,778 71 76 316
1,151 3,348 48 109 350
1,110 3,240 101 141 382
31 301 –3 31 11
–99 –414 –16 73 48
–61 –74 –6 –18 10
–29 –269 –35 22 31
122 –86 –1 22 –12
–76 –204 48 32 21
Burundi Cameroon Cape Verde Central African Republic Chad
41 1,153 114 15 92
8 1,121 112 13 82
11 1,112 171 7 58
12 1,005 174 42 69
–32 –64 –5 –2 –10
3 42 64 –5 –22
– 12 22 – –6
–1 198 28 –4 3
1 –157 9 1 –19
1 –152 –7 33 9
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
10 303 465 3,767 155
8 281 464 1,417 142
6 321 512 1,015 104
13 437 410 1,023 103
–2 –189 104 –2,291 –15
–2 50 69 –325 –51
– –2 –7 –52 2
–2 55 –3 87 –36
– 5 44 –224 –17
6 105 –117 –44 –2
10,451 77 8 19 722
8,426 116 1 245 702
8,272 27 1 360 804
7,596 35 2 312 848
718 38 –7 226 –42
–172 –89 – 116 129
49 – – –11 19
994 –1 1 34 70
–1,465 2 –1 118 87
–749 6 1 –53 –5
92 1,894 255 4 8,397
101 2,610 271 9 7,947
92 3,640 208 5 6,363
88 3,178 217 4 6,017
8 654 9 5 –636
–20 1,050 –47 –3 –1,196
4 –393 14 – –827
–23 151 –43 –3 158
4 1,322 –5 –1 –506
–6 –524 –2 –1 –635
Iraq Israel Jordan Kenya Kuwait
1,384 6,310 1,601 1,007 20,342
860 6,891 2,757 1,037 15,460
824 8,519 2,892 1,207 14,363
829 10,436 2,182 1,380 14,235
–581 1,096 1,235 69 –4,961
6 1,575 123 191 –1,150
–19 670 520 5 919
5 –723 15 20 –3,802
–14 1,065 509 144 1,993
–34 1,705 –737 137 –350
Lesotho Liberia
25 18,874
20 21,675
26 24,541
26 24,742
–10 2,794
5 2,580
7 287
26 1,051
–26 799
– 177
Egypt Equatorial Guinea Eritrea Ethiopia Gabon Gambia Ghana Guinea Guinea-Bissau Iran
Deposits Developing countries
784,961
790,412
848,269
875,224
–8,236
66,646
18,333
24,670
9,947
15,363
i) Africa & Middle East
243,328
246,397
268,543
291,383
–3,074
24,497
13,842
10,769
284
18,481
3,406 4,577 227 221 252
3,545 5,135 298 303 226
3,289 3,435 190 367 231
3,271 4,810 201 409 229
48 525 66 47 –32
–77 –1,691 –95 65 19
–173 507 4 –29 6
359 –588 –7 40 3
–214 –434 –23 21 1
–176 1,326 3 37 –12
113 959 89 81 175
141 1,212 89 66 222
143 1,298 61 72 133
145 1,205 78 78 203
23 219 –2 –17 45
–1 144 –22 8 –80
–5 –194 –6 1 –96
3 191 2 8 68
4 73 –4 –5 –71
–2 –141 14 3 66
50 695 1,076 1,436 174
53 636 1,139 1,202 225
43 754 1,238 1,216 203
94 691 1,254 1,382 194
1 –74 45 –269 47
–9 151 144 81 –15
–1 20 –2 –26 6
2 44 –55 86 17
–6 22 171 81 –32
48 –89 –14 108 –13
13,635 586 30 295 995
13,356 406 20 283 862
12,665 4,883 26 353 856
13,284 4,801 69 338 800
–451 –190 –9 –25 –153
–507 4,498 7 80 27
–141 3,137 4 2 –17
275 221 33 –13 50
–550 –312 –32 45 30
452 –104 42 –27 –89
120 740 300 28 3,938
126 711 306 50 4,855
115 936 204 47 3,199
116 1,064 198 45 4,298
– –44 – 22 663
–16 238 –91 –1 –1,400
23 –40 –27 –3 –273
–3 –38 –86 – –1,007
–5 85 –5 –1 –217
–2 117 –13 –4 951
Iraq Israel Jordan Kenya Kuwait
586 19,389 5,882 4,234 24,997
562 17,293 5,378 4,493 22,030
430 15,430 4,644 4,485 23,895
858 15,312 4,879 4,507 33,132
–37 –2,421 –586 –22 –3,417
–132 –1,636 –678 60 1,533
7 –839 443 63 1,886
16 –71 98 –32 454
–129 –59 –434 121 –47
418 –401 164 –69 9,004
Lesotho Liberia
16 17,043
125 17,431
119 20,009
133 19,218
18 220
–17 2,938
– 88
–38 514
7 954
15 –1,028
Algeria Angola Benin Botswana Burkina Faso Burundi Cameroon Cape Verde Central African Republic Chad Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti Egypt Equatorial Guinea Eritrea Ethiopia Gabon Gambia Ghana Guinea Guinea-Bissau Iran
A 54
BIS Quarterly Review, September 2011
Table 7B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans Libya Madagascar Malawi Mali Mauritania
727 450 87 217 136
1,358 606 161 216 147
923 659 109 178 150
812 660 111 172 174
605 143 51 –6 7
–419 60 –54 –24 11
388 –347 29 –11 –10
–428 375 –12 –2 –6
–101 26 –7 –8 22
–119 –6 2 –16 18
Morocco Mozambique Namibia Niger Nigeria
4,404 503 779 115 4,671
5,134 735 909 144 5,090
5,079 824 747 43 4,220
5,454 1,006 790 45 4,126
919 50 110 31 25
203 101 –127 –100 –856
–49 –11 –19 9 –23
28 71 7 1 –553
101 46 –96 –6 –545
92 159 20 1 –125
Oman Palestinian Territory Qatar Rwanda Sao Tomé and Principe
7,922 8 32,255 8 41
7,843 11 35,231 40 41
7,633 12 42,240 34 52
7,852 15 39,534 31 55
–94 3 2,794 29 –
–257 1 7,161 –7 14
–630 – –762 –1 2
620 3 3,032 –3 –1
–373 –3 3,083 1 2
213 3 –2,892 –3 –
Saudi Arabia Senegal Seychelles Sierra Leone Somalia
37,128 806 973 57 98
36,947 846 1,263 60 110
35,633 701 1,447 176 91
40,053 783 1,788 114 101
–509 17 267 – 8
–1,482 –89 225 122 –11
–3,598 –25 58 –8 –3
500 –77 1 3 –7
1,152 –18 108 131 1
3,977 42 304 –70 4
South Africa St. Helena Sudan Swaziland Syria
10,057 4 599 23 739
9,841 10 641 34 679
10,522 12 663 111 690
10,979 15 534 130 645
–436 6 31 3 –38
810 2 34 77 15
205 – 17 13 –43
419 2 –24 1 25
343 5 –6 2 –15
145 3 –146 18 –57
Tanzania Togo Tunisia Uganda United Arab Emirates
275 78 2,532 189 58,556
495 99 2,421 264 59,065
600 73 1,909 362 59,899
611 93 2,228 361 61,472
159 19 3 41 –247
108 –22 –354 101 98
15 – –96 69 1,041
18 3 –188 44 696
40 –25 –28 2 –3,965
– 16 208 –7 1,100
923 567 787 8,841
1,142 706 353 13,031
1,362 739 280 11,257
1,396 874 298 10,806
213 44 –112 2,894
50 32 –83 –1,775
–341 –12 –31 –385
78 –24 63 662
340 –107 –110 –166
25 133 9 –464
Libya Madagascar Malawi Mali Mauritania
5,780 667 117 285 381
5,712 862 137 263 311
7,528 566 218 205 455
7,408 523 245 229 776
–125 178 6 –28 –77
1,899 –262 77 –46 154
705 –2 54 –33 –15
1,120 – 24 16 68
–608 –34 –6 –40 92
–224 –66 24 14 312
Morocco Mozambique Namibia Niger Nigeria
4,394 270 300 91 6,859
3,993 410 509 111 7,250
4,142 474 580 114 7,612
3,769 496 613 125 8,029
–505 63 74 16 271
412 83 75 8 374
203 –5 –78 141 –549
141 21 –20 –183 –1,004
245 30 63 –23 1,284
–547 12 16 7 367
Oman Palestinian Territory Qatar Rwanda Sao Tomé and Principe
5,767 362 8,797 162 15
4,480 274 9,079 226 12
5,007 258 13,531 148 9
5,269 286 15,887 183 13
–1,441 –91 203 53 –2
559 –11 4,431 –80 –3
204 –64 1,941 –50 1
733 –8 2,138 20 4
–8 25 141 –47 –7
168 24 2,290 30 4
Saudi Arabia Senegal Seychelles Sierra Leone Somalia
38,704 1,391 4,116 116 16
40,823 1,330 5,142 83 16
54,115 976 5,534 112 16
51,248 1,170 5,828 105 16
1,665 –97 935 –37 –1
13,307 –278 497 23 –
9,106 18 59 2 –1
4,869 –11 701 22 1
701 –105 186 –3 1
–3,444 137 159 –8 –
South Africa St. Helena Sudan Swaziland Syria
11,898 8 496 601 2,332
12,594 14 538 290 2,270
13,817 11 465 227 1,979
15,005 15 645 259 2,053
59 5 21 –484 –107
1,507 –6 –64 –78 –210
367 4 24 –8 –245
838 5 87 –7 –284
–437 –8 –270 –41 154
799 4 161 30 26
Tanzania Togo Tunisia Uganda United Arab Emirates
716 292 1,561 255 29,709
777 308 1,699 329 31,338
833 276 1,577 309 31,504
883 295 1,577 328 39,146
30 5 93 61 862
69 –19 –37 –23 –8
110 –4 11 49 –1,310
14 3 53 –34 1,736
–15 –10 –1 –18 –1,323
32 7 –70 14 7,020
878 502 689 8,456
1,008 561 778 10,091
1,781 714 704 7,777
1,829 673 720 8,441
100 17 2 958
727 157 –67 –2,194
–226 –21 94 –962
–112 142 –32 –837
742 –91 –54 732
19 –51 4 631
Yemen Zambia Zimbabwe Residual
Deposits
Yemen Zambia Zimbabwe Residual
BIS Quarterly Review, September 2011
A 55
Table 7B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans ii) Asia & Pacific
211,725
215,785
286,428
310,434
9,337
68,555
13,076
24,340
13,680
21,327
41 91 2,183 983 59
90 157 2,074 915 68
63 137 2,244 1,019 72
37 145 2,555 1,166 86
47 64 –143 –72 7
–26 –17 273 99 8
–7 23 –111 –21 2
–9 –20 1,132 37 2
–12 12 –1,331 48 6
–26 6 247 142 9
British Overseas Territories Brunei Cambodia China Chinese Taipei
311 379 178 40,308 8,481
372 477 347 39,116 8,442
409 697 240 65,536 12,304
449 831 268 81,870 12,177
40 89 167 656 –87
–465 213 –104 25,898 3,781
10 132 –33 3,341 843
–28 –50 28 10,948 541
45 127 –33 2,995 752
35 124 26 15,825 –257
Fiji French Polynesia Georgia India Indonesia
16 726 269 47,520 19,945
30 870 260 45,735 20,306
35 798 249 63,774 25,703
14 823 254 64,793 27,001
11 119 7 421 1,233
–10 –33 –10 17,647 5,223
3 –24 –35 5,883 –363
–9 50 39 4,166 2,735
–4 –28 –44 3,975 1,374
–21 –17 –2 560 926
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
7,225 – 41 328 9,014
6,442 – 76 264 9,696
6,237 – 16 269 11,098
6,342 1 21 279 14,072
–883 – 35 –65 571
–271 – –58 10 1,214
317 – –2 –15 396
–122 – 2 –2 –135
–255 – –7 10 99
53 1 5 9 2,831
Maldives Marshall Islands Micronesia
299 22,927 25
269 24,997 –
271 26,356 –
257 28,108 2
–34 2,052 –25
4 1,279 –
–5 –1,125 –
23 1,194 –
32 906 –
–20 1,717 2
229,884
229,712
254,647
257,419
–3,713
25,825
3,283
7,742
4,156
204
116 154 694 495 9
131 168 495 834 4
146 221 762 974 2
157 253 1,343 958 1
11 8 –196 323 –5
17 60 238 139 –3
–21 –14 749 15 –4
33 71 –770 37 –
– –3 231 –13 1
9 27 571 –29 –1
British Overseas Territories Brunei Cambodia China Chinese Taipei
1,087 2,091 122 82,440 48,602
1,150 2,496 129 68,699 47,388
628 2,610 156 85,211 49,522
653 2,728 147 83,384 49,524
28 367 3 –14,305 –1,900
–540 147 30 16,551 2,142
–230 –382 –19 5,622 371
–28 –376 105 1,703 –310
–159 307 –80 5,791 1,025
10 71 –12 –2,621 –309
Fiji French Polynesia Georgia India Indonesia
98 388 347 15,208 4,326
103 329 324 16,794 4,860
90 337 414 15,422 5,494
105 341 384 16,000 5,899
–3 –65 –35 1,309 410
–16 17 103 –1,257 728
9 19 –16 –881 –196
2 60 57 –37 530
–35 –16 37 –11 42
14 –10 –38 458 345
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
3,890 100 55 56 6,820
4,038 71 86 87 7,898
5,107 77 63 63 8,599
5,440 124 63 34 8,888
98 –39 30 26 809
1,120 7 –22 –27 706
285 16 18 19 288
946 –3 –16 –23 –312
–205 –8 –14 –27 420
274 44 –2 –31 183
Maldives Marshall Islands Micronesia
84 7,184 36
67 8,108 26
82 10,399 24
96 10,394 40
–19 835 –10
15 2,466 –4
5 –15 9
10 580 –2
–1 269 –
13 –122 16
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
Deposits ii) Asia & Pacific Afghanistan Armenia Azerbaijan Bangladesh Bhutan
A 56
BIS Quarterly Review, September 2011
Table 7B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans Mongolia Myanmar Nauru Nepal New Caledonia
88 70 16 26 1,687
109 40 10 41 1,846
200 33 8 42 1,807
172 36 9 26 1,960
39 –31 –6 14 106
89 –7 –2 – 67
33 –3 –3 1 –48
3 – 2 4 –117
45 – –2 4 72
–28 2 1 –16 40
North Korea Pakistan Palau Papua New Guinea Philippines
33 3,457 33 35 7,787
41 3,151 30 30 7,352
40 3,474 28 127 9,487
41 3,767 28 115 9,930
6 –238 –3 –13 –206
–3 269 –2 111 1,930
23 233 –1 62 518
–21 367 – –27 581
–4 –236 –1 11 654
– 264 – –13 368
21 20,659 1,643 3 6,683
21 25,050 1,356 2 7,310
27 25,530 1,870 – 10,501
27 26,285 1,889 – 11,401
– 4,218 114 –1 729
4 330 525 –2 3,160
–3 1,869 219 3 801
2 –2,279 349 –2 686
–1 826 –53 –1 1,361
– 481 –26 – 763
5 3 2 1 646
5 – 57 11 170
7 – 12 31 823
7 – 8 31 1,019
– –3 55 10 –478
2 – –45 20 656
–3 – –3 – –332
1 – 49 –1 620
1 – –43 21 –13
– – –4 –1 186
224 4,917 22 2,315
654 5,277 18 2,201
805 6,944 14 7,091
813 7,605 14 3,700
430 512 –5 –125
159 1,792 –3 4,852
21 137 – 344
17 436 –2 3,152
72 919 –1 1,383
6 509 –1 –3,380
54 310 11 328 713
28 1,078 24 340 741
272 602 12 394 730
145 637 11 402 700
–28 739 –3 10 5
245 –435 –12 58 5
7 –109 –10 33 –61
1 –34 –4 –27 78
231 9 – 127 –33
–128 2 –2 –2 –59
North Korea Pakistan Palau Papua New Guinea Philippines
41 2,874 3 511 5,928
64 2,769 2 1,928 5,830
45 3,066 8 1,744 5,394
29 3,317 15 1,687 5,354
19 –185 –1 1,376 –156
–18 310 6 –185 –441
– –114 1 42 –540
4 –27 –1 107 238
–9 54 6 –22 –441
–17 207 7 –69 –78
Solomon Islands South Korea Sri Lanka Tajikistan Thailand
68 8,380 677 21 6,115
78 7,923 815 22 6,530
61 8,690 1,260 31 7,351
64 10,807 1,051 30 8,294
4 –681 107 – 226
–15 788 438 8 887
–2 –37 23 – 1,041
2 2,922 181 10 –574
–13 –3,931 220 –1 233
1 2,033 –227 –1 816
8 3 32 5 181
11 2 29 7 86
54 2 28 18 269
48 2 31 3 396
3 –1 –5 – –97
42 – – 11 190
3 – –2 –2 –227
14 – – – 51
26 – –3 14 88
–7 – 2 –15 126
614 688 39 27,878
1,283 763 34 35,040
1,353 794 33 36,033
1,596 805 24 35,015
646 62 –6 6,568
93 31 2 1,196
–3 32 – –2,439
9 26 5 2,506
166 –35 –3 –81
212 –1 –11 –1,447
Solomon Islands South Korea Sri Lanka Tajikistan Thailand Timor Leste Tonga Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam Wallis/Futuna Residual
Deposits Mongolia Myanmar Nauru Nepal New Caledonia
Timor Leste Tonga Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam Wallis/Futuna Residual
BIS Quarterly Review, September 2011
A 57
Table 7B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans iii) Europe
332,566
312,264
268,529
277,679
–25,289
–31,754
–11,738
62
–12,034
–559
Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
568 1,010 1,106 9,899 21,628
670 935 1,348 9,924 21,697
542 1,030 1,100 9,285 19,119
572 633 1,139 9,593 20,857
107 –95 175 –350 –600
–84 135 –162 52 –772
22 –49 –52 2 –103
20 89 –2 111 232
–145 210 –76 215 –439
–4 –430 –25 –237 656
Czech Republic Hungary Latvia Lithuania Macedonia, FYR
16,564 25,949 3,986 4,519 433
17,053 29,938 3,962 3,231 455
16,317 19,659 2,919 1,972 419
17,275 19,598 2,713 2,126 451
–13 3,274 –168 –1,383 8
–54 –9,232 –511 –1,193 46
–963 –894 –286 –218 6
793 –324 –21 –363 7
488 –6,952 –257 –191 25
138 –1,040 –364 33 6
Moldova Montenegro Poland Romania Russia
109 544 29,309 24,486 84,570
92 767 31,514 24,469 69,830
110 764 30,107 19,933 58,601
114 758 33,075 19,826 59,187
–19 224 1,453 –866 –15,054
23 39 64 –2,773 –10,804
–6 35 –1,198 –756 –4,956
6 –25 703 –347 564
20 136 –335 –273 –2,762
– –50 1,486 –1,205 –418
Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe
6,524 90,234 7,997 82 3,049
5,827 81,010 6,813 65 2,664
4,709 71,657 6,132 1 4,153
5,003 73,562 5,937 1 5,259
–902 –9,377 –1,250 –19 –431
–743 –6,466 –765 –66 1,515
–93 –2,085 –39 –4 –100
–259 –1,036 –112 63 –35
–214 –911 –301 –78 –193
10 110 –292 – 1,066
Deposits iii) Europe
90,791
93,088
98,826
93,054
–276
8,873
–1,827
3,615
6,569
–8,550
Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
88 303 583 1,410 1,951
100 307 473 1,858 1,853
86 472 436 2,414 1,645
97 534 419 2,310 1,767
8 1 –116 397 –145
–8 179 –10 411 –119
5 –23 –9 –83 17
3 30 20 30 –36
–10 150 –4 689 1
8 41 –39 –217 44
Czech Republic Hungary Latvia Lithuania Macedonia, FYR
4,283 4,220 446 385 247
4,905 9,461 548 633 228
4,382 9,168 578 1,002 202
4,489 8,469 571 995 217
379 4,532 84 239 –26
–329 269 57 432 –28
–52 –246 9 –173 –1
–290 –262 27 120 2
–187 1,335 73 –58 –25
–70 –1,084 –29 –64 5
Moldova Montenegro Poland Romania Russia
192 83 3,958 1,569 31,024
168 104 4,070 1,458 32,217
147 106 5,513 1,788 33,097
168 85 5,901 1,764 37,361
–27 20 9 –144 528
–10 7 1,576 440 1,874
17 –2 –503 –80 –1,661
–8 26 1,083 204 1,291
–50 –14 857 87 1,556
15 –26 180 –104 3,413
Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe
1,067 33,096 2,129 10 3,747
923 27,431 2,144 2 4,205
988 31,468 2,391 7 2,936
948 21,248 2,609 6 3,096
–167 –6,031 –93 –8 285
102 4,843 339 4 –1,157
128 1,315 156 1 –644
–51 1,853 –255 3 –174
7 1,983 385 –1 –205
–86 –10,829 165 –1 129
A 58
BIS Quarterly Review, September 2011
Table 7B (cont.)
Vis-à-vis countries
Dec 2008
Amounts outstanding Dec 2009 Dec 2010
Mar 2011
2009
Estimated exchange rate adjusted changes 2010 Q2 2010 Q3 2010 Q4 2010
Q1 2011
Loans iv) Latin America/Caribbean
196,583
188,435
213,187
220,060
–8,036
24,796
5,640
5,709
9,348
5,751
Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil
12,244 2,366 242 ... 51,001
9,509 2,790 612 – 52,580
9,331 2,740 471 – 66,264
9,869 2,748 418 60 72,013
–2,676 383 369 – 1,524
–239 88 –141 – 13,870
–3 22 –27 ... 6,886
–69 121 –12 ... 3,081
–299 –122 1 – 2,539
480 –39 –54 60 5,409
Chile Colombia Costa Rica Cuba Dominica
18,657 6,533 3,943 711 94
21,609 5,155 2,852 596 43
21,399 6,153 3,026 521 68
21,907 6,370 3,108 543 56
2,958 –1,328 –1,077 –125 –51
–198 950 174 –53 25
–337 91 69 –34 14
260 5 –57 67 –15
57 676 72 –91 11
399 185 75 5 –13
Dominican Republic Ecuador El Salvador Falkland Islands Grenada
2,772 1,850 1,090 37 33
2,637 1,718 674 35 23
2,827 1,994 570 28 36
3,111 1,968 500 31 42
–138 –133 –326 –5 –10
236 271 –104 –5 10
136 –7 –17 –2 –3
99 89 –83 – 7
–142 224 79 –2 –
248 –35 –72 1 6
Guatemala Guyana Haiti Honduras Jamaica
2,789 662 96 854 1,290
2,537 813 94 599 923
2,656 681 62 588 1,112
2,844 691 65 576 1,143
–212 151 –3 –257 –329
118 –135 –30 –5 208
–13 –49 –8 –7 –55
1 –11 –7 –26 –66
126 –3 –30 20 165
186 10 3 –14 13
Mexico Nicaragua Paraguay Peru St. Lucia
58,196 387 691 7,030 424
52,219 398 625 6,146 227
57,853 317 633 8,403 178
56,673 343 664 8,586 176
–6,127 11 –39 –669 –200
5,430 –78 10 2,268 –46
–1,038 –45 –18 249 18
625 –28 22 1,339 –9
3,554 18 16 742 –4
–1,457 25 30 170 –5
542 30 2,792 465 2,268
563 35 2,647 722 2,777
553 46 2,584 486 3,645
562 57 2,776 567 2,121
14 3 –161 243 502
–10 9 –57 –231 790
31 – –445 –108 –212
–71 2 206 20 –451
6 3 –104 46 1,847
–6 9 185 75 –1,540
5,264 11,230 11,638 50,224
4,593 11,684 13,242 31,980
4,974 12,988 16,227 36,095
5,234 14,238 16,099 37,298
–704 377 2,487 –17,932
421 1,249 3,055 1,552
–1 552 453 281
414 254 –2 1,327
–252 196 2,817 –39
193 1,219 –355 630
St. Vincent Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela Residual Int. organisations Unallocated
Deposits iv) Latin America/Caribbean
220,958
221,215
226,253
233,368
–1,174
7,451
3,035
2,543
–1,061
5,229
Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil
25,636 9,183 2,146 ... 25,611
25,526 9,145 1,987 – 23,342
24,027 9,584 1,685 – 27,193
24,694 10,135 1,803 12 31,244
–237 –201 –167 – –2,426
–1,270 732 –287 – 4,573
–311 –19 –50 ... 3,730
129 655 –97 ... 1,538
–1,788 384 –68 – 790
506 374 108 11 3,755
Chile Colombia Costa Rica Cuba Dominica
7,325 10,068 4,030 206 214
6,575 11,194 3,430 220 268
8,017 10,922 2,984 243 285
9,506 11,032 2,897 291 295
–780 1,097 –638 8 48
1,462 –414 –386 35 20
–300 –284 –20 9 –13
162 501 –225 29 8
1,519 –828 –31 –13 25
1,423 76 –119 39 3
Dominican Republic Ecuador El Salvador Falkland Islands Grenada
4,659 4,535 1,193 43 134
4,475 4,901 1,269 43 131
3,915 4,603 1,303 67 98
4,062 4,741 1,352 127 95
–197 358 74 –3 –9
–541 –286 42 25 –28
–257 –103 50 1 –24
–147 –81 –30 11 –11
–95 –32 56 5 –17
122 126 47 58 –4
Guatemala Guyana Haiti Honduras Jamaica
3,106 224 404 1,120 1,103
3,130 211 328 1,046 952
3,272 148 391 1,053 937
3,398 147 408 1,095 943
19 –19 –78 –75 –168
151 –64 57 9 –9
5 –203 3 –23 –242
39 7 32 16 197
19 5 6 30 –36
119 –3 16 41 –2
Mexico Nicaragua Paraguay Peru St. Lucia
40,531 627 1,227 4,972 375
40,518 672 1,225 4,914 445
43,325 834 1,243 5,019 285
43,590 726 1,179 5,008 283
–132 45 –9 –73 61
2,884 165 34 130 –153
1,339 –26 21 330 –39
–22 –20 39 53 –107
–2,434 210 68 –417 54
–55 –111 –75 –36 –7
3,411 364 1,026 1,453 7,852
2,764 433 1,628 1,871 8,625
2,584 458 1,711 1,843 7,113
2,625 455 1,754 1,774 7,008
–717 58 581 358 729
–51 12 90 14 –1,395
–96 –34 –285 18 37
–10 –7 117 25 –459
132 –6 147 –1 –1,317
–19 –22 34 –116 –165
36,936 21,244 99,182 106,033
37,043 22,904 55,926 109,610
38,628 22,483 61,337 110,918
37,778 22,911 67,881 114,203
–72 1,390 3,427 391
2,157 –262 6,835 11,340
–22 –159 6,291 –3,642
1,047 –847 –3,679 7,117
2,232 341 –217 1,714
–1,156 262 4,034 1,532
St. Vincent Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
A 59
Table 8A: International positions by nationality of ownership of reporting banks Amounts outstanding In billions of US dollars End-March 2011
Total positions related offices
Parent country of bank
other banks
of which: vis-à-vis non-banks
CDs & securities Liab.
official monetary authorities Assets Liab.
Assets
Liab.
Assets
Liab.
Assets
Liab.
Assets
Liab.
35,246.7 34,529.2
34,180.9 33,520.1
10,805.9 10,593.0
9,761.7 9,620.9
10,104.7 9,880.3
9,172.0 8,973.2
14,194.9 13,916.0
14,439.2 14,153.3
141.1 140.0
808.0 772.8
5,070.6 4,988.9
Australia Austria Bahamas Bahrain Belgium Bermuda Brazil Canada Cayman Islands Chile Chinese Taipei Cyprus
464.4 445.0 15.9 35.3 534.8 7.3 236.5 956.5 2.3 20.5 276.8 67.4
808.9 322.9 11.3 34.1 624.1 8.5 258.8 884.7 12.2 26.8 295.9 55.4
159.1 16.9 – 2.6 166.1 0.4 102.3 509.6 – 0.2 21.8 5.3
129.2 13.9 – 3.1 107.1 0.1 77.7 400.7 0.0 0.0 11.8 6.5
157.3 201.0 6.2 14.8 131.0 3.5 45.5 154.3 1.5 2.0 85.8 28.8
477.0 119.2 4.0 13.8 128.5 0.5 126.9 76.2 4.9 3.2 72.0 12.6
145.3 225.1 9.7 18.0 237.1 3.0 84.0 292.5 0.7 18.1 168.0 33.2
186.9 186.6 6.8 14.5 373.4 7.5 52.3 372.8 7.3 23.6 202.1 36.4
2.8 1.9 – 0.0 0.6 0.3 4.6 0.0 – 0.2 1.1 –
15.9 3.3 0.5 2.7 15.2 0.3 1.9 35.0 – – 10.1 –
391.3 – 0.7 0.0 164.9 1.3 42.3 25.5 0.2 – 0.8 0.4
Denmark Finland France Germany Greece Guernsey Hong Kong SAR India Ireland Isle of Man Italy
303.0 47.6 4,438.2 4,241.1 225.7 0.0 287.2 157.7 496.3 0.3 994.7
399.8 96.2 4,178.0 3,395.1 149.4 0.0 491.1 183.5 381.9 0.3 1,029.4
122.9 13.1 1,267.7 1,316.4 13.4 – 84.0 23.8 177.5 0.3 328.4
110.7 1.4 1,187.1 1,287.9 49.5 – 144.0 28.0 167.0 0.1 229.4
72.7 23.8 1,748.1 1,057.4 101.4 0.0 36.6 59.1 57.7 0.0 265.7
86.6 9.5 1,516.4 602.3 41.5 – 72.3 45.2 119.7 0.0 464.8
105.8 10.7 1,398.2 1,855.7 110.9 0.0 166.6 74.7 261.0 0.0 398.9
187.9 85.2 1,354.7 1,418.2 58.3 0.0 274.8 109.7 94.2 0.2 300.8
1.6 – 24.2 11.6 0.0 – 0.0 0.0 0.0 – 1.7
14.6 0.0 119.9 86.8 0.0 – – 0.6 1.0 – 34.5
117.9 49.8 692.7 643.6 0.0 – 0.0 10.8 29.2 – 170.2
Japan Jersey Luxembourg Macao SAR Malaysia Mexico Netherlands Norway Panama Portugal Singapore South Africa South Korea Spain Sweden
3,821.4 0.1 172.1 0.3 50.3 46.6 1,519.2 167.4 15.2 197.6 190.1 77.7 222.1 840.1 943.4
2,147.5 0.2 135.0 0.2 53.4 46.1 1,594.8 186.4 11.5 210.9 212.3 73.2 223.2 1,071.8 1,103.9
743.7 – 46.6 0.0 11.1 2.4 448.6 49.6 2.2 62.9 42.5 6.8 18.9 327.3 341.5
606.7 – 35.4 0.0 4.4 0.8 371.1 22.9 1.6 31.1 29.5 13.6 17.7 279.1 214.2
828.1 0.0 55.3 0.1 29.5 17.7 494.6 50.1 6.1 62.8 43.9 45.8 80.4 168.7 331.6
627.5 – 32.3 – 17.7 32.1 738.8 120.1 5.7 112.1 14.1 36.1 159.4 235.4 324.0
2,249.3 0.0 70.1 0.2 9.6 26.5 569.6 67.6 6.9 71.6 103.8 24.9 119.7 342.4 264.9
871.5 0.2 66.4 0.2 30.9 13.2 444.5 41.8 4.2 62.6 167.3 22.4 44.1 529.4 541.4
0.3 – 0.0 0.0 0.1 – 6.4 0.0 – 0.3 0.0 0.1 3.1 1.6 5.4
41.8 – 0.9 – 0.4 – 40.3 1.6 – 5.2 1.4 1.1 2.0 27.9 24.3
53.8 0.1 11.3 – 2.2 4.2 718.3 61.5 2.7 16.9 0.8 4.7 66.4 176.4 327.3
Switzerland Turkey United Kingdom United States Unallocated Non-rep. countries
2,427.7 175.8 4,807.9 4,310.0 367.7 588.7
2,589.0 202.4 4,844.3 4,908.7 330.4 475.8
641.4 11.5 1,467.4 1,944.1 99.4 204.4
749.9 6.9 1,380.1 1,808.1 106.6 126.2
847.5 74.0 1,340.2 1,084.1 110.9 155.2
637.4 88.0 1,009.6 722.8 99.0 123.1
931.9 74.6 1,953.3 1,279.4 157.4 228.1
1,184.3 107.0 2,333.2 2,238.9 118.2 198.1
7.0 15.7 46.9 2.4 0.1 1.0
17.4 0.5 121.4 138.8 6.6 28.5
200.1 2.0 860.5 131.1 11.5 12.9
Developed Offshore centres Africa & Mid. East Asia & Pacific Europe
7.7 14.1 135.8 371.1 31.3
4.1 14.9 150.0 241.5 29.6
1.8 3.6 24.7 165.7 2.5
0.1 0.8 22.7 90.7 8.2
0.7 7.5 54.9 76.5 7.8
0.8 4.1 40.1 56.4 15.3
5.2 3.0 55.8 128.3 20.9
3.2 10.1 77.1 76.0 6.1
0.0 0.0 0.4 0.5 0.1
– – 10.1 18.3 0.0
3.1 0.0 1.1 2.9 1.5
Latin America Consortium Banks
28.7 37.7
35.7 30.9
6.0 –
3.7 –
7.7 16.2
6.4 12.6
14.9 21.4
25.5 12.8
– 0.1
0.1 5.6
4.4 0.2
9.2
77.4
0.1
0.0
6.2
26.7
2.9
50.7
–
–
64.0
All countries Reporting countries
Unallocated
A 60
BIS Quarterly Review, September 2011
Table 8A: International positions by nationality of ownership of reporting banks Amounts outstanding In billions of US dollars End-December 2010
Total positions related offices
other banks
of which: vis-à-vis non-banks
official monetary authorities Assets Liab.
CDs & securities Liab.
Assets
Liab.
Assets
Liab.
Assets
Liab.
Assets
Liab.
33,858.9 33,208.5
32,692.9 32,071.4
10,082.0 9,915.4
9,464.0 9,341.4
9,618.8 9,396.6
8,843.6 8,659.1
14,029.5 13,769.4
13,624.7 13,343.8
128.6 127.1
760.6 727.1
4,741.3 4,660.6
Australia Austria Bahamas Bahrain Belgium Bermuda Brazil Canada Cayman Islands Chile Chinese Taipei Cyprus
454.0 402.3 16.0 33.1 470.1 7.6 207.1 927.9 2.2 18.4 274.3 67.3
802.9 296.6 11.5 29.6 505.2 8.6 232.5 798.5 12.1 24.8 300.5 54.2
142.4 16.9 – 0.9 159.7 0.3 86.1 476.4 – 0.0 22.1 3.9
129.5 14.1 – 1.3 104.5 0.3 66.8 381.0 0.0 – 12.8 8.5
152.7 170.5 6.1 14.1 109.9 3.6 41.3 139.5 1.1 1.5 91.3 31.0
469.5 100.1 4.4 15.0 102.1 0.7 116.7 72.5 4.9 36.9 74.1 9.6
154.8 213.6 9.9 18.1 200.0 3.4 73.8 311.9 1.1 16.6 159.8 32.4
187.8 179.3 6.6 10.6 293.3 7.3 45.1 321.4 7.1 –12.1 198.2 36.1
4.0 1.3 – 0.0 0.5 0.3 5.8 0.1 – 0.2 1.1 0.0
16.1 3.2 0.5 2.6 5.4 0.3 3.9 23.6 – – 15.3 –
393.4 – 0.7 0.0 93.3 1.3 31.1 26.0 0.2 – 0.8 0.4
Denmark Finland France Germany Greece Guernsey Hong Kong SAR India Ireland Isle of Man Italy
283.1 43.8 4,315.9 4,209.3 229.6 0.0 251.0 148.0 558.7 0.3 942.9
376.6 88.2 4,133.2 3,389.1 151.5 0.0 448.1 173.9 439.2 0.3 950.5
113.3 11.5 1,231.7 1,294.2 17.1 – 68.5 18.6 197.8 0.2 246.1
105.8 1.2 1,216.7 1,299.8 49.8 – 118.6 24.8 191.5 0.1 211.5
64.5 21.0 1,661.8 1,045.0 104.0 0.0 29.9 53.0 83.5 0.0 306.7
75.0 7.5 1,470.8 581.9 43.2 – 61.5 41.4 139.4 0.0 416.4
102.4 11.3 1,404.8 1,857.9 108.6 0.0 152.5 76.3 275.8 0.0 387.7
181.5 79.4 1,331.8 1,429.6 57.8 0.0 268.1 106.8 104.3 0.2 287.2
2.8 – 17.6 12.1 0.0 – 0.1 0.1 1.7 – 2.5
14.3 – 113.9 77.9 0.6 – – 0.9 4.0 – 35.4
116.1 46.9 682.0 659.8 0.0 – – 10.3 29.0 – 140.8
Japan Jersey Luxembourg Macao SAR Malaysia Mexico Netherlands Norway Panama Portugal Singapore South Africa South Korea Spain Sweden
3,655.9 0.1 156.9 0.3 42.0 46.1 1,433.4 127.8 14.7 200.0 167.7 80.3 196.3 798.1 864.5
2,023.8 0.2 122.4 0.2 51.0 44.6 1,534.4 153.6 10.8 213.6 190.5 79.2 195.4 998.2 1,004.5
618.9 – 38.1 0.0 8.2 2.7 402.4 42.1 2.0 62.8 9.8 8.1 18.0 309.3 362.1
575.8 – 34.2 0.0 3.4 0.8 374.6 25.8 1.4 33.1 28.6 14.4 16.7 266.1 231.8
814.9 0.0 49.6 0.1 19.7 19.1 477.5 22.3 6.3 64.0 7.6 49.1 66.1 148.3 287.6
609.9 – 23.8 – 18.2 31.3 691.6 93.2 5.5 110.1 10.1 40.8 140.7 229.6 308.5
2,221.0 0.0 69.1 0.2 14.1 24.3 552.1 62.0 6.4 72.9 150.3 23.1 109.0 338.6 208.9
805.0 0.2 63.9 0.2 28.6 12.5 434.3 33.0 4.0 62.7 150.9 23.1 36.7 469.6 447.6
1.1 – 0.1 0.0 0.0 – 1.5 1.3 – 0.3 0.0 0.1 3.2 1.9 5.9
33.1 – 0.5 – 0.8 – 33.9 1.6 – 7.9 0.9 0.8 1.2 32.9 16.5
48.3 0.1 11.9 – 1.6 4.5 659.9 55.4 2.6 18.0 0.3 5.1 66.6 153.7 298.3
Switzerland Turkey United Kingdom United States Unallocated Non-rep. countries
2,503.5 169.5 4,552.6 4,107.7 308.5 520.9
2,711.0 200.0 4,464.7 4,708.3 216.4 438.6
735.3 11.2 1,298.3 1,798.2 88.0 157.6
907.5 7.8 1,149.0 1,682.8 63.6 106.8
809.9 79.7 1,259.4 1,047.6 84.7 150.8
649.7 81.9 984.4 762.2 64.7 120.9
954.8 63.6 1,954.8 1,258.9 135.8 211.6
1,137.6 109.9 2,209.4 2,126.6 83.5 184.4
3.4 15.0 40.0 3.1 0.1 0.9
16.1 0.4 121.9 136.7 4.6 26.6
191.1 1.0 793.1 114.8 7.4 11.3
Developed Offshore centres Africa & Mid. East Asia & Pacific Europe
9.2 12.3 128.4 317.8 25.6
6.2 13.2 139.1 219.7 25.9
3.1 2.0 19.0 125.6 2.6
2.5 0.7 20.3 73.8 6.4
0.6 7.2 52.5 76.2 6.5
0.6 3.8 39.3 57.6 13.4
5.5 3.1 56.5 115.7 16.4
3.2 8.7 71.2 70.1 6.2
0.0 0.0 0.4 0.4 0.1
– – 8.4 18.1 0.0
3.1 0.0 1.0 1.6 1.4
Latin America Consortium Banks
27.8 38.6
34.4 31.1
5.3 0.0
3.1 0.1
7.9 16.9
6.2 12.7
14.6 21.0
25.1 12.2
– 0.6
0.1 6.1
4.1 0.2
7.7
69.1
0.1
0.0
4.8
9.6
2.9
59.5
–
–
64.1
Parent country of bank All countries Reporting countries
Unallocated
BIS Quarterly Review, September 2011
A 61
Table 8B: International positions by nationality of ownership of reporting banks Estimated exchange rate adjusted changes In billions of US dollars 2011 Q1
Total positions related offices
Parent country of bank
Assets
Liab.
Assets
Liab.
other banks Assets
of which: vis-à-vis non-banks
Liab.
Assets
Liab.
official monetary authorities Assets Liab.
CDs & securities Liab.
All countries Reporting countries
505.9 448.4
692.4 660.1
195.3 157.3
88.9 72.7
491.1 486.8
74.9 63.4
–188.4 –204.1
498.3 494.5
8.0 8.5
30.3 29.5
182.9 184.6
Australia Austria Bahamas Bahrain Belgium Bermuda Brazil Canada Cayman Islands Chile Chinese Taipei Cyprus
3.5 24.4 –0.2 1.8 41.6 –0.4 28.5 17.1 0.1 2.1 0.9 –2.7
–4.6 14.5 –0.3 4.3 92.8 –0.2 25.4 77.5 0.1 1.9 –6.3 –0.6
3.3 –0.5 – 1.7 –1.2 0.1 16.0 20.1 – 0.1 –0.7 1.2
–1.3 –0.7 – 1.8 –2.3 –0.2 10.8 16.6 – 0.0 –1.1 –2.3
13.7 22.3 0.1 0.3 15.2 –0.1 4.0 21.0 0.4 0.5 –6.0 –3.2
1.4 15.2 –0.4 –1.6 21.2 –0.2 9.7 2.7 –0.1 –34.3 –2.6 2.4
–12.1 2.1 –0.3 –0.1 27.6 –0.4 9.8 –24.0 –0.3 1.4 7.5 –0.6
–4.3 0.0 0.2 4.1 64.5 0.2 6.9 47.2 0.1 36.2 2.6 –0.7
–1.3 0.5 – –0.0 0.0 – –1.4 –0.0 – 0.0 0.0 –0.0
–0.3 –0.0 –0.1 0.0 9.5 – –2.0 11.0 – – –5.3 –
–7.6 – – – 65.3 –0.0 11.2 –1.2 – – – 0.0
Denmark Finland France Germany Greece Guernsey Hong Kong SAR India Ireland Isle of Man Italy
6.0 1.9 –30.1 –121.6 –14.7 – 33.5 8.4 –83.3 0.0 6.7
6.7 5.1 –89.2 –90.7 –8.4 – 37.6 8.0 –73.6 0.0 33.9
4.4 1.5 –38.1 –42.4 –4.3 – 13.6 3.5 –26.3 0.0 68.9
–0.3 0.1 –65.0 –51.1 –3.0 – 21.8 3.0 –29.9 0.0 7.4
4.4 1.5 58.7 –13.7 –7.6 – 5.9 7.0 –29.2 –0.0 –54.2
7.8 1.6 –4.7 –1.9 –3.4 – 9.3 3.3 –26.1 0.0 26.8
–1.4 –1.0 –56.3 –64.7 –2.7 – 14.0 –2.1 –26.0 –0.0 –7.1
–0.6 3.4 –21.1 –44.5 –1.3 – 6.6 1.9 –14.4 0.0 1.2
–1.3 – 5.6 –0.7 0.0 – –0.0 –0.0 –1.7 – –0.9
–0.3 0.0 1.7 6.8 –0.6 – – –0.3 –3.1 – –1.6
–2.5 1.3 –14.9 –24.7 – – 0.0 0.3 –0.7 – 21.7
131.3 – 7.8 –0.0 7.7 0.1 33.0 36.1 0.5 –11.5 17.9 –3.2 25.3 15.9 46.4
106.9 – 7.8 –0.0 1.6 1.0 11.8 28.3 0.6 –11.8 17.3 –6.1 26.8 37.2 62.8
59.2 – 2.8 – 1.7 –0.3 11.9 6.7 0.2 –2.4 3.7 –1.3 0.4 9.5 –32.6
21.9 – –0.6 – 1.0 – –15.8 –3.1 0.2 –3.3 0.8 –1.0 1.0 6.2 –23.8
70.7 – 7.2 0.0 10.7 –1.7 18.4 26.7 –0.2 –4.1 64.3 –3.4 14.4 14.4 32.9
19.9 – 7.6 – –0.7 0.4 24.8 23.7 0.3 –3.2 4.0 –4.6 18.0 –4.0 3.0
2.1 – –2.2 –0.0 –4.7 2.1 –2.0 4.1 0.5 –5.0 –50.0 1.5 10.6 –7.6 46.9
56.7 – 0.6 –0.0 1.7 0.6 –2.4 7.8 0.2 –2.5 12.0 –0.8 7.1 40.6 76.3
–0.7 – –0.0 0.0 0.0 – 4.8 –1.3 – –0.1 –0.0 0.0 –0.1 –0.4 –0.8
8.4 – 0.4 – –0.4 – 5.3 –0.0 – –2.8 0.5 0.3 0.8 –5.6 7.3
4.5 – –0.7 – 0.6 –0.2 30.9 4.4 0.2 –1.9 0.4 –0.5 –0.6 16.6 18.4
Switzerland Turkey United Kingdom United States Unallocated Non-rep. countries
–124.8 2.3 136.2 154.7 46.0 59.7
–178.3 –2.1 255.0 157.2 103.9 30.5
–138.5 0.1 117.3 95.7 1.1 38.6
–168.7 –1.2 197.1 116.0 40.9 17.6
50.6 –7.9 60.3 60.7 28.8 7.1
–31.1 4.3 –9.0 –50.8 30.3 0.1
–40.1 9.6 –46.8 –1.0 16.2 14.0
20.5 –5.3 71.1 90.5 30.8 11.6
3.3 0.4 5.4 –0.7 0.0 0.1
0.9 0.1 –4.2 1.5 1.9 1.1
2.8 1.0 40.3 15.9 3.8 1.6
Developed Offshore centres Africa & Mid. East Asia & Pacific Europe
–1.7 1.7 5.2 48.3 5.4
–2.3 1.5 8.7 18.2 3.1
–2.6 1.6 5.2 33.8 –0.2
–2.5 –0.0 2.0 15.7 1.8
1.3 0.2 1.3 3.2 1.2
0.2 0.2 –0.3 –1.7 1.5
–0.4 –0.1 –1.3 11.1 4.4
–0.1 1.3 5.6 4.5 –0.2
– – –0.0 0.1 –
– – 1.4 –0.3 –
– –0.0 –0.0 1.3 0.0
Latin America Consortium Banks
0.9 –1.7
1.3 –0.6
0.7 –0.0
0.6 –0.1
–0.2 –1.2
0.2 –0.5
0.3 0.0
0.5 0.6
– –0.6
–0.0 –0.6
0.3 –0.0
1.3
8.7
0.0
–0.0
1.3
16.6
0.0
–7.9
–
–
–2.8
Japan Jersey Luxembourg Macao SAR Malaysia Mexico Netherlands Norway Panama Portugal Singapore South Africa South Korea Spain Sweden
Unallocated
A 62
BIS Quarterly Review, September 2011
Table 8B: International positions by nationality of ownership of reporting banks Estimated exchange rate adjusted changes In billions of US dollars 2010 Q4
Total positions related offices
Parent country of bank
Assets
Liab.
Assets
Liab.
other banks Assets
of which: vis-à-vis non-banks
Liab.
Assets
Liab.
official monetary authorities Assets Liab.
CDs & securities Liab.
All countries Reporting countries
–525.1 –558.4
–400.2 –391.3
99.6 79.8
103.5 107.6
–463.8 –466.6
–498.6 –495.3
–163.7 –174.3
–34.8 –34.0
2.7 2.7
29.6 30.5
–28.0 –24.6
Australia Austria Bahamas Bahrain Belgium Bermuda Brazil Canada Cayman Islands Chile Chinese Taipei Cyprus
31.2 –17.3 –0.2 1.8 –9.2 0.3 5.0 43.5 0.1 2.9 16.1 –1.3
48.4 –20.1 –0.3 4.3 6.7 0.3 8.8 49.4 0.1 3.2 24.8 0.1
19.9 2.6 – 1.7 4.8 0.0 4.5 6.6 – 0.0 2.2 1.3
20.7 2.2 – 1.8 1.9 –0.1 6.7 13.2 – – 1.0 2.2
1.5 –15.1 0.1 0.3 –15.8 –0.3 –0.7 7.1 0.4 1.7 8.3 –3.1
4.5 –20.3 –0.4 –1.6 11.9 –0.2 3.9 4.0 –0.1 0.4 5.3 –3.9
9.4 –4.7 –0.3 –0.1 1.7 0.5 1.4 30.7 –0.3 1.2 5.5 0.5
19.6 –1.9 0.2 4.1 –6.4 0.5 –1.2 30.2 0.1 2.8 12.2 1.8
0.4 –0.1 – –0.0 0.0 0.0 –0.2 –1.0 – 0.0 –0.0 0.0
3.7 –0.2 –0.1 0.0 –0.7 0.1 –0.6 2.0 – – 6.3 –
17.8 –0.1 – – –4.4 –0.1 1.3 –5.0 – – – 0.0
Denmark Finland France Germany Greece Guernsey Hong Kong SAR India Ireland Isle of Man Italy
–19.6 –2.8 –113.6 –45.5 –26.6 0.0 28.4 6.3 –85.6 –0.0 –70.2
–10.4 –3.2 –104.9 –67.4 –14.7 –0.1 32.1 5.8 –124.2 0.0 –84.8
–16.4 –3.1 23.9 –40.2 –2.2 – 11.7 1.4 –38.0 –0.0 –29.2
–18.3 –0.2 –21.2 52.1 –0.3 – 23.9 0.9 –58.7 –0.0 –11.8
–6.9 –0.5 –70.2 42.7 –27.6 0.0 5.3 2.1 –22.4 0.0 –11.8
–10.0 –0.4 –63.9 –57.2 –12.5 –0.1 9.9 1.8 –42.3 –0.0 –19.5
1.5 0.8 –67.2 –36.2 3.3 –0.0 11.4 2.8 –26.8 0.0 –30.4
16.0 –2.6 –16.7 –63.2 –1.8 –0.0 –1.7 3.2 –22.7 0.0 –53.2
2.1 – –0.2 –11.9 –0.0 – 0.0 0.0 1.7 – 1.1
1.8 – –3.0 0.9 –0.2 – – –0.2 –0.5 – –0.3
5.3 1.3 –5.3 1.6 – – –0.0 3.0 –1.7 – –7.1
Japan Jersey Luxembourg Macao SAR Malaysia Mexico Netherlands Norway Panama Portugal Singapore South Africa South Korea Spain Sweden
15.0 –0.2 –10.7 0.0 2.8 1.3 –120.4 7.5 1.1 –14.4 17.9 –3.2 25.3 –40.7 –4.9
–12.6 0.1 –11.5 0.0 7.3 –0.4 –107.7 7.2 0.9 –10.2 17.3 –6.1 26.8 23.6 –1.1
18.1 – 0.8 – 0.8 –1.9 7.5 3.0 0.2 –3.6 3.7 –1.3 0.4 –18.5 42.0
24.0 – 1.9 – 0.3 0.2 –25.9 5.6 0.2 –2.8 0.8 –1.0 1.0 –4.3 12.2
–6.0 –0.2 –5.2 –0.0 0.5 –1.0 –113.7 2.5 0.8 –8.2 64.3 –3.4 14.4 19.1 –60.7
–41.1 –0.0 –10.7 –0.0 5.1 0.2 –81.3 1.4 0.2 –5.7 4.0 –4.6 18.0 –21.2 –29.3
2.1 0.0 –6.2 0.0 1.5 4.2 –11.8 0.8 0.2 –2.6 –50.0 1.5 10.6 –42.7 11.9
1.6 0.1 –2.1 0.0 2.0 –0.8 –1.0 –0.2 0.4 –2.7 12.0 –0.8 7.1 49.2 17.8
0.7 – –0.0 0.0 0.0 – –2.4 1.2 – 0.1 –0.0 0.0 –0.1 1.4 2.0
2.9 – –0.5 – –0.1 – 0.5 0.4 – 1.1 0.5 0.3 0.8 –0.1 –1.8
1.5 0.1 –1.0 – –0.0 0.0 7.0 –5.6 –0.4 –5.0 0.4 –0.5 –0.6 –8.3 0.2
Switzerland Turkey United Kingdom United States Unallocated Non-rep. countries
–67.8 7.6 15.5 39.5 –109.0 28.2
–61.6 6.2 37.2 117.3 –104.7 6.0
–25.7 –0.2 –13.5 150.0 –28.4 21.0
–21.3 1.5 66.3 37.6 –2.8 –2.4
–22.8 8.9 –20.8 –114.3 –24.7 3.6
–24.2 6.5 –71.6 62.9 –71.2 1.2
–15.3 –2.5 38.0 4.0 –55.8 3.8
–17.2 –2.1 20.8 22.6 –31.1 8.2
–4.0 1.4 11.7 –0.3 –0.2 –0.2
1.1 0.3 21.8 –5.8 0.4 –1.1
4.0 0.0 –14.8 –5.0 –2.2 2.6
Developed Offshore centres Africa & Mid. East Asia & Pacific Europe
–12.0 0.0 2.7 35.0 1.4
–2.0 –2.7 0.3 8.8 1.5
–0.1 0.1 –1.4 21.7 0.1
–0.0 0.3 –2.2 –0.3 –0.1
–8.8 –0.3 2.8 10.5 –0.6
–2.3 –0.3 1.2 1.8 1.0
–3.1 0.2 1.4 2.8 2.0
0.3 –2.7 3.8 5.9 0.6
– – –0.2 –0.0 0.0
– – –2.6 1.4 0.0
3.0 – 0.0 –0.5 –0.0
Latin America Consortium Banks
1.1 7.1
0.1 –0.4
0.5 0.0
–0.0 0.0
–0.0 0.2
–0.3 –1.0
0.6 6.4
0.4 –0.1
– 0.4
0.0 0.7
0.1 0.0
–3.4
–16.0
–0.3
–0.2
–2.5
–5.9
–0.6
–9.9
–
–
–6.0
Unallocated
BIS Quarterly Review, September 2011
A 63
Table 9A: Consolidated claims of reporting banks - immediate borrower basis On individual countries by maturity and sector / Amounts outstanding In millions of US dollars End-March 2011
Claims vis-à-vis All countries Developed countries Europe
Total foreign claims on a contractual basis A+L 31,937,367 23,872,927
Consolidated cross-border claims in all currencies and local claims in non-local currencies Maturities Sectors Over two Banks Public Sector Up to and Over one year Total international including one up to two years claims year years A B C D F G 20,637,825 10,655,736 1,010,498 5,757,836 8,415,858 2,802,078 15,428,391 8,003,625 746,961 4,220,160 7,194,586 2,212,733
15,361,237
11,327,771
6,129,750
551,108
3,038,643
5,693,077
1,501,525
Austria Andorra Belgium Cyprus Denmark
303,886 2,946 566,854 50,896 373,160
225,008 2,946 309,827 43,004 270,651
68,572 1,959 177,440 20,953 188,215
11,453 67 12,971 2,239 16,245
85,142 910 88,321 17,516 46,207
124,866 1,165 139,036 9,034 125,640
48,394 282 74,754 2,125 14,429
Estonia Finland France Germany Greece
20,890 236,568 1,832,128 2,117,703 161,795
3,778 98,827 1,645,745 1,531,083 108,962
1,403 46,088 1,032,542 855,939 32,080
271 3,808 58,495 106,867 4,264
1,947 28,515 361,636 453,902 51,817
533 37,354 1,069,226 750,653 20,209
257 24,128 220,144 365,785 59,275
Iceland Ireland Italy Liechtenstein Luxembourg
11,718 651,652 1,163,662 6,863 683,635
11,717 522,050 722,327 6,849 591,510
7,486 212,869 278,523 4,531 249,446
351 22,065 41,946 334 19,856
2,090 201,796 237,517 1,322 186,374
5,625 166,674 336,524 1,259 197,119
1,053 12,832 268,399 11 16,857
Malta Netherlands Norway Portugal Slovakia
20,190 1,018,192 316,387 237,723 75,523
13,706 909,346 161,890 128,700 19,528
3,666 369,829 87,036 45,022 7,394
1,245 56,805 6,430 8,022 971
6,770 322,472 47,427 48,319 7,571
2,284 380,127 60,913 61,690 3,831
178 71,096 37,562 30,902 6,153
Slovenia Spain Sweden Switzerland United Kingdom
38,805 874,580 325,448 546,152 3,722,417
21,483 644,446 258,395 505,762 2,569,010
4,901 243,478 135,929 359,799 1,694,106
1,915 39,275 13,866 11,220 110,113
11,620 209,854 73,670 78,506 466,962
4,725 326,010 146,039 272,009 1,450,115
4,891 100,639 26,878 57,077 57,390
10 1,454
10 1,211
10 534
– 14
– 460
– 417
2 32
Vatican Other Other developed countries
8,511,690
4,100,620
1,873,875
195,853
1,181,517
1,501,509
711,208
Australia Canada Japan New Zealand United States
667,264 616,353 1,095,562 279,432 5,851,727
355,819 394,905 691,429 35,334 2,621,781
134,166 240,022 567,897 16,428 913,585
29,939 11,323 4,721 1,791 148,079
122,171 104,455 58,945 15,573 880,105
184,485 230,983 496,945 7,347 581,029
39,486 57,073 69,548 5,231 539,033
Offshore centres
2,548,761
2,026,890
1,010,285
63,137
539,138
334,022
22,983
1,140 48,537 30,025 7,391 74,950
1,140 44,480 23,826 5,930 72,603
314 32,615 15,829 1,579 27,153
44 1,608 3,031 562 2,403
194 7,903 4,336 1,849 25,552
153 15,281 17,304 1,664 1,395
119 840 370 684 227
Cayman Islands
928,417
921,759
398,031
12,816
256,621
59,069
1,645
Curacao Gibraltar Guernsey Hong Kong SAR Isle of Man
9,426 8,518 39,328 612,734 30,196
9,421 7,498 36,809 272,086 25,628
6,053 3,260 9,169 165,288 9,079
140 1,711 1,759 14,243 1,190
1,816 1,948 9,533 37,696 13,522
1,307 1,503 3,301 118,948 1,097
61 5 8 4,201 2
Jersey Lebanon Macau SAR Mauritius Netherlands Antilles
120,415 6,069 19,472 16,183 ...
116,007 5,723 18,425 14,442 ...
38,574 3,747 12,209 9,410 ...
5,274 652 858 633 ...
45,176 1,112 5,027 3,884 ...
8,396 889 10,447 903 ...
351 1,204 159 21 ...
Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
90,550 3,431 354,913 2,057 419 140,097
84,285 3,187 218,527 1,962 130 138,529
24,208 2,335 151,171 179 62 99,679
3,527 128 6,572 45 4 5,479
55,755 721 40,650 279 64 23,907
3,000 15 86,742 501 3 977
1,278 1 10,372 267 1 1,167
Aruba Bahamas Bahrain Barbados Bermuda
A 64
BIS Quarterly Review, September 2011
Table 9A (cont.)
Sectors Non-bank private sector
Local currency positions of reporting banks' foreign offices with local residents Claims Liabilities
H 9,115,979 5,865,344
L 11,299,542 8,444,536
M 8,372,001 6,245,173
Q –210,439 415,249
Total foreign claims on an ultimate risk basis R(=A+L+Q) 31,726,928 24,288,176
4,040,441
4,033,466
2,951,894
261,146
15,622,383
51,625 1,501 95,676 31,593 114,697
78,878 – 257,027 7,892 102,509
110,523 – 258,882 10,684 65,565
1,600 –518 1,572 –2,937 2,998
305,486 2,428 568,426 47,959 376,158
Austria Andorra Belgium Cyprus Denmark
2,932 37,124 333,250 406,010 29,383
17,112 137,741 186,383 586,620 52,833
11,745 103,206 146,371 586,877 27,740
–127 –1,347 147,879 247,813 –5,652
20,763 235,221 1,980,007 2,365,516 156,143
Estonia Finland France Germany Greece
4,992 340,786 116,291 5,495 373,422
1 129,602 441,335 14 92,125
– 66,699 170,186 5 161,756
368 –89,802 15,791 –261 –112,703
12,086 561,850 1,179,453 6,602 570,932
Iceland Ireland Italy Liechtenstein Luxembourg
10,749 454,964 63,166 36,098 8,697
6,484 108,846 154,497 109,023 55,995
5,552 37,459 79,116 55,857 21,335
–2,607 –3,852 –9,734 1,055 –2,489
17,583 1,014,340 306,653 238,778 73,034
Malta Netherlands Norway Portugal Slovakia
11,553 216,822 85,308 173,001 1,034,555
17,322 230,134 67,053 40,390 1,153,407
5,989 84,504 35,880 24,401 881,344
–85 7,465 8,839 58,929 –1,127
38,720 882,045 334,287 605,081 3,721,290
Slovenia Spain Sweden Switzerland United Kingdom
8 743
– 243
– 218
–8 86
2 1,540
1,824,903
4,411,070
3,293,279
154,103
8,665,793
126,851 106,181 122,645 22,357 1,446,358
311,445 221,448 404,133 244,098 3,229,946
214,926 142,488 262,575 157,393 2,515,897
–13,636 16,874 26,364 –3,699 128,056
653,628 633,227 1,121,926 275,733 5,979,783
Australia Canada Japan New Zealand United States
1,634,457
521,871
457,267
–531,539
2,017,222
Offshore centres
867 27,821 6,148 3,482 70,412
– 4,057 6,199 1,461 2,347
– 4,030 4,412 1,283 2,084
–154 –19,367 –5,810 –375 –6,434
986 29,170 24,215 7,016 68,516
842,014
6,658
10,384
–273,848
654,569
Cayman Islands
7,972 5,644 28,836 148,798 24,480
5 1,020 2,519 340,648 4,568
16 2,251 8,167 284,269 10,639
187 –1,175 –2,334 –78,613 –4,772
9,613 7,343 36,994 534,121 25,424
Curacao Gibraltar Guernsey Hong Kong SAR Isle of Man
106,429 3,627 6,974 13,514 ...
4,408 346 1,047 1,741 ...
18,285 244 1,619 814 ...
–8,106 –335 –2,798 –6,671 ...
112,309 5,734 16,674 9,512 ...
Jersey Lebanon Macau SAR Mauritius Netherlands Antilles
79,231 3,126 119,201 1,194 127 131,194
6,265 244 136,386 95 289 1,568
6,376 195 100,461 85 263 1,390
–42,662 –1,939 –27,791 –49 –24 –46,405
47,888 1,492 327,122 2,008 395 93,692
Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
BIS Quarterly Review, September 2011
Net risk transfers
End-March 2011
Claims vis-à-vis All countries Developed countries Europe
Vatican Other Other developed countries
Aruba Bahamas Bahrain Barbados Bermuda
A 65
Table 9A (Cont.)
End-March 2011
Claims vis-à-vis Developing countries Africa & Middle East
Total foreign claims on a contractual basis A+L 5,392,478 668,288
Consolidated cross-border claims in all currencies and local claims in non-local currencies Maturities Sectors Up to and Over one year Over two Banks Public Sector Total international including one up to two years claims year years A B C D F G 3,060,506 1,612,320 193,155 962,539 873,850 478,265 436,024 212,898 36,432 165,222 113,888 63,420
Algeria Angola Benin Botswana Burkina Faso
9,008 7,299 93 3,116 1,062
2,471 6,704 86 572 515
1,375 2,551 49 310 116
187 481 3 34 61
888 3,586 33 88 337
485 936 13 54 13
618 2,214 18 227 24
Burundi Cameroon Cape Verde Central African Republic Chad
54 3,794 1,386 38 79
54 1,161 742 38 41
30 435 481 34 15
7 282 16 – 1
12 407 179 3 24
29 42 400 – 2
– 232 113 – –
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
18 383 535 3,238 223
18 357 526 1,514 222
7 227 230 504 130
2 17 67 311 8
6 93 225 511 75
8 1 169 249 1
1 28 32 318 15
Egypt Equatorial Guinea Eritrea Ethiopia Gabon
42,531 800 11 311 907
18,080 39 11 311 873
9,596 19 11 228 219
1,674 5 – 19 31
6,172 16 – 63 594
3,860 11 – 1 22
1,914 4 – – 739
Gambia Ghana Guinea Guinea-Bissau Iran
89 6,178 538 7 15,212
76 4,398 332 7 15,211
41 2,052 142 1 8,521
– 257 94 – 1,095
22 1,846 94 5 5,438
4 326 64 – 9,287
1 1,744 93 – 186
Iraq Israel Jordan Kenya Kuwait
1,441 25,785 3,973 4,316 19,694
1,327 21,679 2,596 2,170 18,645
558 14,534 1,444 1,050 13,284
– 460 353 149 632
753 3,152 687 935 4,405
339 2,449 946 407 1,999
879 7,956 211 51 7,710
Lesotho Liberia Libya Madagascar Malawi
12 35,420 558 1,277 116
12 35,417 558 338 116
5 7,084 426 103 36
7 1,901 5 18 15
– 26,096 56 214 64
– – 295 19 62
– – 3 5 –
Mali Mauritania Morocco Mozambique Namibia
414 414 28,305 4,353 418
321 413 7,909 1,261 418
158 254 2,765 328 207
24 97 699 125 26
123 57 4,034 750 170
177 156 2,286 133 48
21 1 2,085 297 65
Niger Nigeria Oman Palestinian Territory Qatar
134 8,867 10,645 47 64,770
134 6,595 8,520 45 59,418
126 3,683 2,698 10 21,297
3 558 562 – 8,220
– 1,645 5,177 26 28,343
12 2,560 1,448 11 18,906
17 163 955 24 8,824
Rwanda Sao Tomé and Principe Saudi Arabia Senegal Seychelles
79 55 62,683 2,973 2,410
79 55 54,650 1,014 2,198
44 13 36,468 207 1,810
– – 1,111 455 148
21 42 14,994 328 209
30 1 23,539 63 4
– 16 7,522 81 1
84 101 135,661 5 897
42 101 36,614 5 897
5 4 16,784 – 562
– 24 2,615 – 18
34 73 11,067 5 247
– 1 12,613 – 194
29 8 9,295 – 445
256
256
191
–
63
97
–
Sierra Leone Somalia South Africa St. Helena Sudan Swaziland
A 66
BIS Quarterly Review, September 2011
Table 9A (Cont.)
Sectors Non-bank private sector
Local currency positions of reporting banks' foreign offices with local residents Claims Liabilities
H 1,599,544 256,093
L 2,331,972 232,264
M 1,667,590 207,981
Q –110,650 –28,609
Total foreign claims on an ultimate risk basis R(=A+L+Q) 5,281,828 639,679
1,366 3,222 56 292 477
6,537 595 7 2,544 547
4,737 851 1 2,215 610
–663 –327 3 185 –30
8,345 6,972 96 3,301 1,032
Algeria Angola Benin Botswana Burkina Faso
25 887 229 39 41
– 2,633 644 – 38
– 3,054 498 – –
–19 –112 –85 –1 –7
35 3,682 1,301 37 72
Burundi Cameroon Cape Verde Central African Republic Chad
9 329 325 943 208
– 26 9 1,724 1
– – 10 1,606 –
1 –54 –15 –136 –41
19 329 520 3,102 182
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
12,298 25 11 310 107
24,451 761 – – 34
24,084 794 – – 140
–843 –17 –1 –211 –239
41,688 783 10 100 668
Egypt Equatorial Guinea Eritrea Ethiopia Gabon
72 2,329 175 6 5,734
13 1,780 206 – 1
90 1,963 173 – –
–1 –569 9 –1 –4,441
88 5,609 547 6 10,771
Gambia Ghana Guinea Guinea-Bissau Iran
109 11,201 1,437 1,713 8,917
114 4,106 1,377 2,146 1,049
157 1,259 990 1,797 668
–15 –1,847 52 –260 984
1,426 23,938 4,025 4,056 20,678
Iraq Israel Jordan Kenya Kuwait
12 35,189 260 316 52
– 3 – 939 –
– 11 1 1,090 –
– –6,870 127 –112 –81
12 28,550 685 1,165 35
Lesotho Liberia Libya Madagascar Malawi
124 256 3,541 831 305
93 1 20,396 3,092 –
116 – 17,019 1,590 –
–123 2 –2,099 –154 –30
291 416 26,206 4,199 388
Mali Mauritania Morocco Mozambique Namibia
104 3,869 6,116 10 31,455
– 2,272 2,125 2 5,352
– 1,570 1,800 2 4,065
48 –243 –1,925 8 –908
182 8,624 8,720 55 63,862
Niger Nigeria Oman Palestinian Territory Qatar
50 39 23,539 870 2,192
– – 8,033 1,959 212
– – 1,227 1,517 473
–9 –23 2,090 –70 –831
70 32 64,773 2,903 1,579
Rwanda Sao Tomé and Principe Saudi Arabia Senegal Seychelles
13 92 14,637 5 257
42 – 99,047 – –
74 – 98,978 – –
266 5 –668 23 –189
350 106 134,993 28 708
158
–
–
18
274
BIS Quarterly Review, September 2011
Net risk transfers
End-March 2011
Claims vis-à-vis Developing countries Africa & Middle East
Sierra Leone Somalia South Africa St. Helena Sudan Swaziland
A 67
Table 9A (Cont.)
End-March 2011
Claims vis-à-vis Syria Tanzania Togo Tunisia Uganda
Total foreign claims on a contractual basis A+L
Consolidated cross-border claims in all currencies and local claims in non-local currencies Maturities Sectors Up to and Over one year Over two Banks Public Sector Total international including one up to two years claims year years A B C D F G
498 1,869 400 7,815 1,040
498 1,014 384 3,736 738
375 488 73 1,119 309
9 75 4 799 7
94 394 295 1,471 412
107 111 304 981 148
14 140 24 1,060 36
139,021 1,660 2,489 417 6
108,507 1,367 1,392 220 6
55,947 225 727 168 5
12,039 411 188 23 –
36,939 709 399 21 1
27,149 135 166 14 1
6,706 5 220 30 –
Asia & Pacific
1,966,524
1,286,795
850,282
53,495
244,348
493,889
160,678
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
94 662 4,903 7,124 87
49 518 4,903 4,151 87
11 198 1,475 3,540 6
– 56 748 25 –
37 236 2,655 506 81
17 128 1,168 1,470 –
– 8 574 238 84
British Overseas Territories Brunei Cambodia China Chinese Taipei
216 4,081 364 593,879 171,634
216 2,260 364 458,354 93,587
126 1,964 119 355,870 78,289
21 32 4 12,617 1,566
67 240 239 47,540 4,087
– 100 13 227,133 31,841
– 1,284 3 20,161 30,973
Fiji French Polynesia Georgia India Indonesia
1,461 5,213 1,203 317,672 109,361
79 2,350 1,135 217,301 78,964
47 288 694 135,559 47,317
– 76 23 10,529 2,395
27 1,751 388 46,760 21,135
5 1,253 240 84,633 9,770
24 34 109 8,813 21,870
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
22,843 – 187 448 142,174
16,723 – 113 448 55,781
6,390 – 26 62 28,144
846 – 11 9 2,871
5,828 – 71 377 17,022
5,329 – 11 43 12,793
1,565 – – 30 14,376
Maldives Marshall Islands Micronesia Mongolia Myanmar
606 36,392 5 422 247
457 36,311 5 422 247
136 8,970 2 184 204
44 1,499 – 88 1
204 25,397 1 95 42
16 1 1 82 178
151 103 – 28 –
Nauru Nepal New Caledonia North Korea Pakistan
4 294 6,605 120 13,943
4 65 3,273 120 5,068
2 55 92 111 2,518
– 1 143 – 71
1 8 2,749 4 1,985
– 26 1,334 94 909
– – 156 11 1,416
1 3,358 36,851 148 358,803
– 910 27,078 3 214,259
– 417 13,738 – 134,501
– – 1,739 – 15,354
– 472 8,678 3 35,131
– 5 8,295 – 88,518
– 179 7,307 – 42,022
Sri Lanka Tajikistan Thailand Timor Leste Tonga
6,672 41 94,396 86 136
4,591 41 37,093 86 1
2,057 3 18,199 23 –
81 3 1,525 36 –
1,718 35 10,924 16 1
680 13 12,946 – –
2,025 – 5,370 – –
Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam
116 8 161 650 22,507
116 8 161 645 18,125
43 8 58 216 8,533
– – 60 33 882
64 – 43 381 7,220
110 – 2 399 4,331
– – – – 1,764
42 304
19 304
– 87
15 91
3 126
– 2
– –
United Arab Emirates Yemen Zambia Zimbabwe Residual
Palau Papua New Guinea Philippines Solomon Islands South Korea
Wallis/Futuna Residual
A 68
BIS Quarterly Review, September 2011
Table 9A (Cont.)
Sectors Non-bank private sector H
Local currency positions of reporting banks' foreign offices with local residents Claims Liabilities L
M
Net risk transfers
Q
Total foreign claims on an ultimate risk basis R(=A+L+Q)
End-March 2011
Claims vis-à-vis
379 763 53 1,694 554
– 855 16 4,079 302
– 716 – 3,587 1,097
2 –152 –26 –390 21
500 1,717 374 7,425 1,061
73,056 1,227 1,006 175 2
30,514 293 1,097 197 –
26,123 – 846 382 –
–7,257 –208 –166 16 –
131,764 1,452 2,323 433 6
541,063
679,729
453,495
–25,816
1,940,708
Asia & Pacific
33 382 3,161 2,445 2
45 144 – 2,973 –
35 63 – 2,824 –
–3 –17 –979 –849 –73
91 645 3,924 6,275 14
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
216 873 243 131,161 29,676
– 1,821 – 135,525 78,047
– 4,831 – 99,097 44,050
–51 –347 –60 7,930 –701
165 3,734 304 601,809 170,933
British Overseas Territories Brunei Cambodia China Chinese Taipei
50 1,061 783 117,953 46,985
1,382 2,863 68 100,371 30,397
1,348 2,260 57 57,354 21,079
55 –31 –10 14,110 –23,071
1,516 5,182 1,193 331,782 86,290
Fiji French Polynesia Georgia India Indonesia
9,543 – 102 376 27,772
6,120 – 74 – 86,393
4,718 – 50 – 68,338
–1,104 38 –10 –63 695
21,739 38 177 385 142,869
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
288 36,207 4 312 69
149 81 – – –
95 – – – –
–22 –4,686 5 –28 1
584 31,706 10 394 248
Maldives Marshall Islands Micronesia Mongolia Myanmar
4 37 1,784 15 2,738
– 229 3,332 – 8,875
– 345 2,566 – 7,390
– 10 –209 –38 –2,064
4 304 6,396 82 11,879
Nauru Nepal New Caledonia North Korea Pakistan
– 723 11,268 3 81,806
1 2,448 9,773 145 144,544
7 2,266 5,204 135 86,052
– –386 –3,563 – 3,479
1 2,972 33,288 148 362,282
1,885 28 18,594 86 1
2,081 – 57,303 – 135
1,263 – 37,983 – 132
–607 –10 –7,753 – –
6,065 31 86,643 86 136
Sri Lanka Tajikistan Thailand Timor Leste Tonga
6 8 159 247 11,792
– – – 5 4,382
– – – 155 3,755
–28 –8 –10 –196 –5,078
88 – 151 454 17,429
Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam
19 163
23 –
43 –
1 –85
43 219
BIS Quarterly Review, September 2011
Syria Tanzania Togo Tunisia Uganda United Arab Emirates Yemen Zambia Zimbabwe Residual
Palau Papua New Guinea Philippines Solomon Islands South Korea
Wallis/Futuna Residual
A 69
Table 9A (Cont.)
End-March 2011
Claims vis-à-vis Europe Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
Total foreign claims on a contractual basis A+L 1,493,333
Consolidated cross-border claims in all currencies and local claims in non-local currencies Maturities Sectors Up to and Over one year Over two Banks Public Sector Total international including one up to two years claims year years A B C D F G 833,454 318,894 65,603 376,769 156,723 133,973
7,278 6,225 11,004 41,580 82,800
3,857 4,914 4,626 30,644 56,343
1,369 2,959 1,760 10,416 17,761
248 354 465 4,344 6,366
2,217 1,407 1,966 14,950 30,115
234 2,514 564 1,816 3,956
910 153 218 2,719 9,096
Czech Republic Hungary Latvia Lithuania Macedonia, FYR
210,525 138,274 26,255 28,716 2,583
41,404 90,999 22,534 22,041 1,569
13,093 30,170 4,691 4,594 523
2,733 4,839 1,919 2,990 179
19,400 42,974 13,932 11,860 784
6,662 12,927 1,771 1,259 126
8,460 19,555 1,419 3,400 267
Moldova Montenegro Poland Romania Russia
734 1,955 322,912 112,217 207,853
559 1,105 150,219 74,515 144,915
219 423 45,679 28,547 63,780
46 69 8,018 5,429 14,887
209 552 82,070 36,409 51,308
103 117 20,536 7,224 45,132
37 211 35,063 14,314 7,518
Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe
28,143 224,157 38,977 147 998
17,913 141,490 23,028 147 632
7,735 75,846 8,749 109 471
1,757 8,966 1,990 – 4
7,384 49,832 9,314 37 49
1,827 46,437 3,339 5 174
3,319 23,335 3,882 96 1
1,264,333
504,233
230,246
37,625
176,200
109,350
120,194
41,644 3,076 461 21 529,092 124,461
20,830 2,748 450 21 210,596 49,442
11,727 2,254 253 20 99,525 25,488
1,800 69 24 – 21,718 3,492
5,342 300 170 – 55,098 17,315
1,800 125 10 – 56,319 14,774
4,688 42 12 – 61,887 3,541
37,553 9,292 1,860 972 4,999
15,999 7,274 1,788 859 3,821
9,574 2,381 767 255 1,687
880 291 226 158 130
4,509 4,234 667 436 1,864
4,458 1,562 1,248 86 248
3,414 554 180 62 1,397
2,702 8,228 51 282 4,477
2,305 6,336 30 136 3,541
1,289 2,193 20 8 1,621
202 66 – 8 230
742 3,971 11 64 1,656
307 2,249 – – 853
147 628 – 22 206
Guyana Haiti Honduras Jamaica Mexico
945 225 2,409 6,321 381,922
714 118 1,320 3,592 107,272
411 76 729 900 40,092
161 – 42 130 5,148
138 40 471 1,546 52,232
– 25 556 353 11,440
17 10 127 1,316 30,685
Nicaragua Paraguay Peru St. Lucia St. Vincent
650 6,330 44,302 1,689 900
561 3,685 30,666 1,309 788
313 1,437 14,892 254 502
24 194 1,556 56 51
219 351 12,159 222 173
95 2,075 7,660 84 1
9 110 5,585 143 20
Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela
403 9,703 1,252 9,443 22,473
403 3,491 671 6,947 10,325
11 931 264 4,014 3,293
3 102 15 162 268
41 2,240 75 2,430 4,773
130 114 63 903 1,803
24 486 30 1,675 3,174
6,195 103,687 19,514
6,195 102,565 19,473
3,065 16,107 13,399
419 6,352 893
2,711 33,419 2,580
9 11,686 1,714
3 87,432 665
Latin America/Caribbean Argentina Belize Bolivia Bonaire, Saint Eustatius and Brazil Chile Colombia Costa Rica Cuba Dominica Dominican Republic Ecuador El Salvador Falkland Islands Grenada Guatemala
Residual Int. organisations Unallocated
A 70
BIS Quarterly Review, September 2011
Table 9A (Cont.)
Sectors Non-bank private sector
Local currency positions of reporting banks' foreign offices with local residents Claims Liabilities
H 533,805
L 659,879
M 405,868
Q –53,755
Total foreign claims on an ultimate risk basis R(=A+L+Q) 1,439,578
2,702 2,129 3,587 25,476 42,549
3,421 1,311 6,378 10,936 26,457
1,337 – 1,369 8,356 7,826
–113 –19 –633 –3,353 –3,047
7,165 6,206 10,371 38,227 79,753
25,582 56,493 19,027 16,972 1,177
169,121 47,275 3,721 6,675 1,014
90,266 25,292 3,172 12,282 721
–2,173 –2,750 –567 –2,377 –35
208,352 135,524 25,688 26,339 2,548
Czech Republic Hungary Latvia Lithuania Macedonia, FYR
390 720 93,908 52,505 90,916
175 850 172,693 37,702 62,938
168 161 143,023 18,177 30,562
123 –365 –18,681 –3,508 –5,730
857 1,590 304,231 108,709 202,123
Moldova Montenegro Poland Romania Russia
12,340 71,598 15,307 46 381
10,230 82,667 15,949 – 366
1,950 54,417 6,570 2 217
–482 –7,035 –2,997 –5 –8
27,661 217,122 35,980 142 990
Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe
268,583
760,100
600,246
–2,470
1,261,863
14,289 2,579 428 21 89,738 31,123
20,814 328 11 – 318,496 75,019
18,408 248 4 – 229,995 56,565
–1,224 –817 –193 – 26,795 –6,798
40,420 2,259 268 21 555,887 117,663
8,119 5,148 358 711 2,177
21,554 2,018 72 113 1,178
16,166 1,538 – 156 909
–854 –553 –191 –1 –1,004
36,699 8,739 1,669 971 3,995
1,851 3,460 30 113 2,483
397 1,892 21 146 936
376 1,382 117 173 602
–665 –16 –3 –11 82
2,037 8,212 48 271 4,559
697 83 634 1,921 65,065
231 107 1,089 2,729 274,650
212 90 1,107 1,352 241,083
–6 –24 106 –122 –12,642
939 201 2,515 6,199 369,280
Guyana Haiti Honduras Jamaica Mexico
456 1,483 17,379 1,080 750
89 2,645 13,636 380 112
59 2,151 10,133 350 104
–86 –131 –1,151 –15 –179
564 6,199 43,151 1,674 721
Nicaragua Paraguay Peru St. Lucia St. Vincent
249 2,894 576 4,338 5,147
– 6,212 581 2,496 12,148
– 4,517 259 1,498 10,692
–23 –161 –105 –1,001 –471
380 9,542 1,147 8,442 22,002
Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela
3,203 3,441 13,193
– 1,122 41
– 1,854 117
–1,006 7,605 8,896
5,189 111,292 28,410
BIS Quarterly Review, September 2011
Net risk transfers
End-March 2011
Claims vis-à-vis Europe Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
Latin America/Caribbean Argentina Belize Bolivia Bonaire, Saint Eustatius and Brazil Chile Colombia Costa Rica Cuba Dominica Dominican Republic Ecuador El Salvador Falkland Islands Grenada Guatemala
Residual Int. organisations Unallocated
A 71
Table 9B: Consolidated foreign claims of reporting banks - immediate borrower basis On individual countries by nationality of reporting banks / Amounts outstanding In millions of US dollars End-March 2011
Total foreign claims 31,937,367 23,872,927 15,361,237
European banks 19,407,562 14,443,526 9,720,200
Austria Andorra Belgium Cyprus Denmark
303,886 2,946 566,854 50,896 373,160
Estonia Finland France Germany Greece
577,225 498,077 177,481
540,346 249,893 230,659
394,925 286,134 239,313
84,535 45,084 23,731
952,344 808,746 189,862
5,139 2,854 366
Chinese Taipei 202,465 124,479 61,567
261,981 2,727 459,467 38,952 284,265
... – 1,113 ... 746
. 4 2,910 2,034 1,948
4,482 3 . 283 854
865 ... 131 – 1,954
1,842 – 2,698 ... 3,669
– ... 2 ... 1
115 1 375 142 33
20,890 236,568 1,832,128 2,117,703 161,795
20,695 213,816 835,072 1,284,688 142,468
– 315 9,216 ... ...
108 1,139 11,683 58,024 3,189
14 662 32,065 21,816 2,775
... 112 1,866 1,699 1
– 2,714 22,916 ... ...
... 1 78 57 ...
1 146 2,493 3,066 33
Iceland Ireland Italy Liechtenstein Luxembourg
11,718 651,652 1,163,662 6,863 683,635
8,783 467,544 819,228 6,454 476,230
– ... 696 – 2,504
266 2,891 24,192 781 7,150
70 48,167 22,614 129 9,794
35 8 466 ... 1,706
... 5,090 3,214 ... ...
... ... 19 ... ...
84 4,559 251 – 35,864
Malta Netherlands Norway Portugal Slovakia
20,190 1,018,192 316,387 237,723 75,523
18,566 621,825 267,188 205,120 73,362
... 7,554 696 ... –
2,652 16,937 1,799 1,737 32,975
28 24,673 344 1,643 8,318
... 964 226 1,105 ...
... ... 2,935 137 ...
... 2 – – ...
– 2,448 180 27 29
Slovenia Spain Sweden Switzerland United Kingdom
38,805 874,580 325,448 546,152 3,722,417
37,721 648,635 183,914 261,700 2,078,396
... ... 692 2,348 ...
16,917 7,996 2,110 11,128 20,089
1,023 20,892 1,055 1,626 35,983
– 1,452 340 1,187 9,614
... 2,468 1,968 ... 100,357
... 47 7 4 148
19 224 192 3,842 7,383
10 1,454
10 1,393
– –
... ...
... –
... ...
– –
... ...
... 60
Claims vis-à-vis All countries Developed countries Europe
Vatican Other Other developed countries
Australia
Austria
Belgium
Brazil
Canada
Chile
8,511,690
4,723,326
300,123
19,234
46,821
21,353
587,260
2,488
62,912
Australia Canada Japan New Zealand United States
667,264 616,353 1,095,562 279,432 5,851,727
314,560 240,533 433,964 23,175 3,711,094
. ... ... 241,857 58,266
1,586 1,208 491 112 15,837
2,494 1,760 902 11 41,654
9 722 346 1 20,275
... . ... 1,025 586,235
2 67 32 ... 2,387
7,009 1,134 3,359 708 50,702
Offshore centres
2,548,761
1,334,327
36,165
9,031
8,160
20,607
43,760
46
41,165
1,140 48,537 30,025 7,391 74,950
373 23,472 19,530 2,280 43,034
– 103 270 ... 616
... 16 381 35 138
– 12 78 40 51
127 1,477 10 ... 430
... ... ... ... 450
... 15 ... ... ...
... 13 181 10 789
Cayman Islands
928,417
329,567
1,132
3,405
4,490
16,707
...
6
5,381
Curacao Gibraltar Guernsey Hong Kong SAR Isle of Man
9,426 8,518 39,328 612,734 30,196
5,767 7,642 32,571 386,087 27,507
– ... ... 13,820 ...
... 86 238 323 355
23 12 108 1,691 104
144 317 ... 221 ...
... – ... 3,903 ...
... ... ... – ...
– 34 192 14,783 149
Jersey Lebanon Macau SAR Mauritius Netherlands Antilles
120,415 6,069 19,472 16,183 ...
103,943 4,809 5,372 11,984 ...
... – 203 15 ...
1,648 ... ... 61 ...
524 1 112 9 ...
... ... – ... ...
... ... ... ... ...
... ... ... ... ...
175 3 531 596 ...
Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
90,550 3,431 354,913 2,057 419 140,097
36,690 714 200,539 33 64 92,343
... ... 18,450 ... ... ...
24 ... ... ... ... 712
142 – 662 ... ... 101
345 ... 4 ... ... 825
... – 2,290 ... – 3,852
25 ... – ... ... ...
2,312 2,253 5,019 ... 25 8,719
Aruba Bahamas Bahrain Barbados Bermuda
A 72
BIS Quarterly Review, September 2011
Table 9B (Cont.) End-March 2011
Total foreign claims 5,392,478 668,288
European banks 3,544,007 510,251
Algeria Angola Benin Botswana Burkina Faso
9,008 7,299 93 3,116 1,062
Burundi Cameroon Cape Verde Central African Republic Chad Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
37,191 2,416
279,786 4,420
100,282 2,191
17,424 54
95,714 2,401
2,239 2
Chinese Taipei 36,325 6,938
6,665 6,900 86 2,816 785
– – – – ...
4 ... ... ... ...
172 8 – – 1
... ... ... ... ...
... ... – – –
... ... ... ... ...
1 ... ... ... 23
54 3,794 1,386 38 79
34 3,331 1,375 37 68
– – – – –
... ... ... ... ...
4 27 – – 4
... ... 11 ... ...
– – – – –
... ... ... ... ...
7 3 ... ... –
18 383 535 3,238 223
17 315 450 2,882 91
– – – 59 –
... ... ... ... ...
... 3 6 13 –
... – ... ... ...
– – ... ... –
... ... ... ... ...
... ... ... 11 123
Egypt Equatorial Guinea Eritrea Ethiopia Gabon
42,531 800 11 311 907
36,725 799 1 283 839
... – – – 1
... ... ... ... 23
41 – – – –
– ... ... ... ...
... – – – ...
... ... ... ... ...
20 1 10 – –
Gambia Ghana Guinea Guinea-Bissau Iran
89 6,178 538 7 15,212
68 5,281 497 7 8,313
– ... – – ...
... 3 ... ... ...
– 150 1 – 39
... ... ... ... ...
– – – – ...
... ... ... ... ...
... 14 ... ... 14
Iraq Israel Jordan Kenya Kuwait
1,441 25,785 3,973 4,316 19,694
1,324 16,148 2,901 3,297 10,504
– 10 – ... ...
... 131 2 17 166
– 15 2 66 –
... ... ... ... ...
– 252 ... ... ...
... 2 ... ... ...
... 119 7 3 188
Lesotho Liberia Libya Madagascar Malawi
12 35,420 558 1,277 116
7 28,275 340 1,274 100
– – – – –
... ... ... ... ...
... 60 27 – –
... ... ... ... ...
– ... ... – –
... ... ... ... ...
– 3,444 ... ... ...
Mali Mauritania Morocco Mozambique Namibia
414 414 28,305 4,353 418
411 370 27,364 4,338 404
– – – – –
... ... 43 ... ...
2 12 49 2 1
... ... ... ... ...
– ... ... – –
... ... ... ... ...
... ... 1 ... ...
Niger Nigeria Oman Palestinian Territory Qatar
134 8,867 10,645 47 64,770
42 5,758 8,471 44 40,830
– 3 34 – 271
... 8 180 ... 534
1 5 68 – 395
... ... ... ... ...
– ... ... – ...
... ... ... ... ...
... 6 59 ... 498
Rwanda Sao Tomé and Principe Saudi Arabia Senegal Seychelles
79 55 62,683 2,973 2,410
77 55 48,363 2,590 2,146
– – 138 ... –
... ... 288 1 6
– ... 172 1 –
... ... 1 ... ...
– – 146 ... –
... ... ... ... ...
... ... 281 ... 71
84 101 135,661 5 897
52 97 114,256 5 730
... – 257 – –
... ... 642 ... ...
– ... 166 ... –
... ... – ... ...
– – 197 – –
... ... – ... ...
... 2 879 ... ...
256
40
–
...
...
42
–
...
1
Claims vis-à-vis Developing countries Africa & Middle East
Sierra Leone Somalia South Africa St. Helena Sudan Swaziland
BIS Quarterly Review, September 2011
Australia
Austria
Belgium
Brazil
Canada
Chile
A 73
Table 9B (Cont.) End-March 2011 Claims vis-à-vis Syria Tanzania Togo Tunisia Uganda
Total foreign claims
European banks
Australia
Austria
Belgium
Brazil
Canada
Chile
Chinese Taipei
498 1,869 400 7,815 1,040
248 1,604 387 7,208 762
– ... – 1 –
2 ... ... 151 ...
– 3 – 137 1
... ... ... ... ...
– – – ... ...
... ... ... ... ...
– ... ... 1 1
139,021 1,660 2,489 417 6
96,838 1,475 2,092 357 2
989 – ... ... –
1,508 5 ... ... ...
535 ... 2 – ...
– ... ... ... ...
1,182 – – – –
... ... ... ... ...
1,140 – ... 10 ...
Asia & Pacific
1,966,524
902,601
33,326
6,828
2,681
345
22,297
470
26,645
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
94 662 4,903 7,124 87
87 611 4,535 5,357 87
... – – ... –
... ... 82 ... ...
– 8 36 2 ...
... ... ... – ...
– – – ... –
... ... ... ... ...
1 10 4 84 ...
British Overseas Territories Brunei Cambodia China Chinese Taipei
216 4,081 364 593,879 171,634
64 2,311 98 221,520 95,863
... 12 5 ... ...
... ... ... 2,636 ...
... – 7 1,162 49
... ... ... 93 2
– ... ... ... ...
... ... ... 270 –
2 163 82 8,824 ...
Fiji French Polynesia Georgia India Indonesia
1,461 5,213 1,203 317,672 109,361
26 5,203 1,026 150,765 46,852
... ... – ... ...
... ... 1 449 1,054
1 – 2 441 14
... ... ... 12 1
– – ... ... 390
... ... ... 82 ...
1 – ... 5,505 1,169
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
22,843 – 187 448 142,174
16,886 – 186 344 59,107
... – – – ...
243 ... ... ... 354
50 ... – 33 33
– ... ... ... ...
... – – – ...
... ... ... ... –
53 ... ... 2 1,230
Maldives Marshall Islands Micronesia Mongolia Myanmar
606 36,392 5 422 247
560 34,648 3 179 197
– ... – ... –
... 2 ... ... ...
... 119 ... – –
... ... ... ... ...
– ... – – –
... ... ... ... ...
... 450 ... 2 ...
Nauru Nepal New Caledonia North Korea Pakistan
4 294 6,605 120 13,943
3 275 6,554 37 11,913
... – ... ... ...
... ... ... ... ...
... – – – –
... ... ... ... 2
– – – – ...
... ... ... – ...
... – – ... 5
1 3,358 36,851 148 358,803
– 260 18,079 – 174,399
– ... ... ... ...
... ... 113 ... 1,285
... – 147 ... 395
... ... 1 ... 188
– ... 1,009 – ...
... ... ... ... 118
1 ... 1,153 ... 3,458
Sri Lanka Tajikistan Thailand Timor Leste Tonga
6,672 41 94,396 86 136
5,074 41 28,097 86 –
... – 121 – ...
22 ... 34 ... ...
3 ... 168 ... ...
... ... 46 ... ...
... – ... – –
... ... ... ... ...
7 ... 1,255 ... ...
Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam
116 8 161 650 22,507
112 – 16 400 10,639
– – – – ...
... ... ... ... 413
... ... ... – 11
... ... ... ... ...
– – ... – ...
... ... ... ... ...
... 8 ... – 3,176
42 304
42 59
– –
... ...
... ...
... ...
– ...
... ...
... ...
United Arab Emirates Yemen Zambia Zimbabwe Residual
Palau Papua New Guinea Philippines Solomon Islands South Korea
Wallis/Futuna Residual
A 74
BIS Quarterly Review, September 2011
Table 9B (Cont.) End-March 2011
Total foreign claims 1,493,333
European banks 1,338,975
468
267,735
94,912
219
2,294
4
Chinese Taipei 1,316
7,278 6,225 11,004 41,580 82,800
7,127 5,402 10,976 40,908 81,506
– 3 – ... ...
... ... 6,974 5,706 36,711
– 53 1 1,515 209
... ... ... ... ...
– – – – –
... ... ... ... ...
107 7 – 3 –
Czech Republic Hungary Latvia
210,525 138,274 26,255
205,085 125,699 25,793
... ... –
75,531 41,175 485
51,499 16,640 1
– – –
... ... ...
... ... ...
16 59 37
Lithuania Macedonia, FYR Moldova Montenegro Poland
28,716 2,583 734 1,955 322,912
28,253 2,529 729 1,953 295,775
2 – – – ...
253 409 ... 1,136 16,384
4 3 1 4 17,441
... ... ... ... –
– – – – ...
... ... ... ... ...
– ... ... ... 25
Romania Russia Serbia
112,217 207,853 28,143
109,423 164,252 27,936
... 123 –
42,898 ... 7,947
458 4,408 62
... – ...
... 178 ...
... ... ...
2 872 ...
Turkey Ukraine Res. Serbia & Montenegro Residual Europe
224,157 38,977 147 998
168,593 36,051 1 984
... 9 – –
1,391 9,260 ... ...
2,589 24 ... ...
219 ... ... ...
1,997 ... ... –
4 ... ... ...
166 22 – ...
1,264,333
792,180
981
803
498
16,806
68,722
1,763
1,426
41,644 3,076 461 21 529,092 124,461
30,818 2,307 351 21 353,334 87,960
... – – ... ... ...
36 9 ... ... 258 65
83 – 7 ... 128 35
3,008 20 10 ... ... 8,276
... ... – – ... ...
62 ... – ... 1,038 ...
10 245 1 ... 648 185
37,553 9,292 1,860 972 4,999
20,845 2,630 1,343 70 2,175
... ... – – ...
6 1 15 ... 6
1 1 – – 7
94 – ... ... ...
... ... ... ... ...
103 – 3 ... ...
1 – ... 2 –
2,702 8,228 51 282 4,477
1,039 2,104 51 19 928
... ... – – ...
2 ... ... ... ...
6 2 ... ... 15
58 17 ... ... –
... ... – ... ...
2 10 ... ... ...
2 4 ... ... 5
Guyana Haiti Honduras Jamaica Mexico
945 225 2,409 6,321 381,922
6 24 1,273 827 233,273
– – ... ... ...
... ... ... 3 282
– – 24 – 164
... 1 1 ... 169
... ... ... ... ...
... ... ... ... 263
... – 55 ... 35
Nicaragua Paraguay Peru St. Lucia St. Vincent
650 6,330 44,302 1,689 900
188 2,327 21,978 164 550
– – ... 6 –
... ... 22 ... 22
11 – 14 ... ...
1 3,513 86 ... ...
... ... ... ... ...
... ... 279 ... ...
– 2 110 ... 105
Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela
403 9,703 1,252 9,443 22,473
49 2,388 254 5,613 16,846
– ... – ... ...
... ... ... 5 16
– ... – – –
1 ... ... 1,437 114
... ... ... ... 162
... ... ... 2 1
... – ... 1 15
6,195 103,687 19,514
425 81,051 4,651
– ... 2,967
... 1,636 ...
... 349 ...
... ... 1,420
... 3,999 125
... ... ...
... 492 4
Claims vis-à-vis Europe Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
Latin America/Caribbean Argentina Belize Bolivia Bonaire, Saint Eustatius and Brazil Chile Colombia Costa Rica Cuba Dominica Dominican Republic Ecuador El Salvador Falkland Islands Grenada Guatemala
Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
Australia
Austria
Belgium
Brazil
Canada
Chile
A 75
Table 9B (Cont.) End-March 2011 Denmark
France
Germany
270,409 258,740 248,556
3,329,214 2,653,034 1,868,999
3,125,574 2,560,144 1,922,649
159,359 55,024 49,542
412,938 376,182 322,178
947,691 688,418 633,034
2,822,134 1,987,687 774,973
5,976 4,216 959
Netherlands 1,451,592 1,203,805 785,315
Austria Andorra Belgium Cyprus Denmark
308 4 1,249 496 .
19,267 231 226,366 3,812 19,582
90,413 84 35,234 9,699 33,985
104 – 240 11,351 35
3,193 ... 4,689 ... 925
105,097 ... 4,173 1,729 2,535
7,037 ... 17,594 ... 8,522
... 1 1 ... ...
8,698 4 121,201 1,299 5,400
Estonia Finland France Germany Greece
267 38,096 5,132 8,991 107
40 9,500 . 252,653 52,904
526 14,629 206,789 . 35,704
3 2 1,675 5,246 .
... ... 15,955 62,664 773
399 1,271 41,153 266,138 4,694
– 4,706 83,317 146,685 953
... ... 11 21 ...
11 3,761 91,109 190,882 4,701
Iceland Ireland Italy Liechtenstein Luxembourg
132 16,707 640 1,273 12,502
504 38,452 404,910 729 110,587
4,559 116,527 164,932 1,677 171,676
34 544 537 9 7,687
29 . 13,182 ... 3,088
728 14,324 . 155 28,598
299 27,152 40,193 ... 112,770
... ... 1 ... ...
416 21,965 49,125 942 15,210
Malta Netherlands Norway Portugal Slovakia
14 2,940 35,117 304 5
1,032 138,750 18,801 28,548 5,085
1,961 167,245 28,457 38,862 3,980
382 4,502 76 92 –
... 5,986 902 2,475 ...
890 25,908 2,671 4,331 19,711
... 54,553 12,387 2,135 497
... ... ... 17 ...
732 . 5,864 5,220 1,389
Slovenia Spain Sweden Switzerland United Kingdom
13 2,136 70,963 2,551 48,091
3,762 146,587 12,903 61,979 312,012
4,811 177,859 34,569 58,543 519,866
2 361 30 729 15,901
... 13,737 2,277 1,512 187,196
8,778 31,764 3,000 11,842 52,550
165 24,219 18,952 23,675 189,162
... 476 ... 99 332
374 75,564 5,766 28,304 147,378
... 518
– –
– 62
– –
... ...
2 592
... ...
... ...
– –
Claims vis-à-vis All countries Developed countries Europe
Vatican Other Other developed countries
Greece
Ireland
Italy
Japan
Mexico
10,184
784,035
637,495
5,482
54,004
50,205
1,212,714
3,257
418,490
Australia Canada Japan New Zealand United States
362 499 381 51 8,891
30,566 30,816 145,183 948 576,522
43,984 29,334 55,472 6,302 502,403
27 114 40 12 5,289
1,980 6,050 1,818 133 44,023
3,080 3,995 ... 65 43,065
113,561 60,694 . 5,993 1,032,466
... 11 46 ... 3,200
79,961 46,045 19,542 7,746 265,196
Offshore centres
6,130
161,112
177,293
3,831
9,981
18,484
521,655
199
52,213
... 159 6 5 764
... 1,417 3,618 298 9,902
4 5,360 2,293 542 6,925
– 1 15 – 96
... ... ... ... ...
... 700 534 ... 961
... 1,293 1,338 ... 16,837
... 35 ... ... ...
64 611 645 177 2,813
Cayman Islands
2,296
47,954
66,191
548
...
7,050
318,668
164
9,900
Curacao Gibraltar Guernsey Hong Kong SAR Isle of Man
36 595 206 119 41
979 323 1,629 32,590 791
... 708 5,650 13,448 5,354
67 8 225 232 15
... ... ... ... ...
... 128 752 1,345 775
... ... 4,759 71,189 1,151
... ... ... ... ...
940 300 1,438 11,917 1,102
Jersey Lebanon Macau SAR Mauritius Netherlands Antilles
258 127 – 5 ...
13,433 1,633 317 1,708 ...
22,071 172 339 4,842 ...
349 2 – – ...
... ... ... ... ...
2,090 22 6 53 ...
12,461 75 ... ... ...
... ... ... ... ...
1,567 63 40 483 ...
53 – 1,018 ... ... 442
6,774 ... 25,901 – 27 11,651
5,414 11 27,734 – 14 9,124
1,494 – 102 8 – 669
... ... ... ... ... ...
1,036 ... 1,663 ... ... 1,335
42,139 ... 47,258 ... ... ...
... ... ... ... ... ...
823 19 13,278 4 – 6,029
Aruba Bahamas Bahrain Barbados Bermuda
Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
A 76
BIS Quarterly Review, September 2011
Table 9B (Cont.) End-March 2011 Denmark
France
Germany
5,538 736
508,535 140,253
359,326 48,327
100,394 4,457
22,361 425
235,804 14,217
312,792 30,886
729 ...
Netherlands 192,656 10,222
Algeria Angola Benin Botswana Burkina Faso
3 – – – –
5,962 762 53 76 698
100 1,031 2 6 9
– – – – –
... ... ... ... ...
200 ... ... ... ...
13 ... ... ... ...
... ... ... ... ...
50 127 – 24 3
Burundi Cameroon Cape Verde Central African Republic Chad
– – – ... ...
13 2,790 ... 35 60
13 12 1 – –
– 1 – – –
... ... ... ... ...
... 18 ... ... ...
... ... ... ... ...
... ... ... ... ...
1 41 – 1 1
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
... 1 ... 2 –
17 285 228 2,253 34
– – – 11 26
– 1 – – –
... ... ... ... ...
... ... ... ... ...
... ... – 11 ...
... ... ... ... ...
– – 41 4 –
103 ... ... – ...
16,862 ... – ... 422
1,147 – – 1 167
853 – – – –
... ... ... ... ...
6,301 ... ... ... 16
529 ... ... 1 24
... ... ... ... ...
137 – – 1 11
Gambia Ghana Guinea Guinea-Bissau Iran
– 11 ... – 7
... 1,604 ... ... 4,052
– 308 – – 1,851
– – – – 5
... ... ... ... ...
... 159 ... ... 778
... ... ... ... 578
... ... ... ... ...
19 438 2 – 256
Iraq Israel Jordan Kenya Kuwait
– 40 13 3 10
67 2,956 576 693 2,126
876 3,710 101 59 995
– 9 59 – 55
... ... ... ... ...
8 130 14 8 342
55 1,584 63 39 609
... ... ... ... ...
46 241 15 205 480
Lesotho Liberia Libya Madagascar Malawi
– 164 4 – –
... 4,200 88 1,193 79
– 6,740 42 – 1
– 3,118 – – –
... ... ... ... ...
... 1,082 19 ... ...
... 2,036 – ... ...
... ... ... ... ...
– 315 12 66 1
Mali Mauritania Morocco Mozambique Namibia
– ... 1 1 –
256 324 24,492 231 ...
21 11 254 50 119
– – 1 – –
... ... ... ... ...
... ... 112 10 11
... ... 31 ... ...
... ... ... ... ...
8 8 245 74 2
Niger Nigeria Oman Palestinian Territory Qatar
– 4 11 1 83
23 1,125 1,903 ... 9,925
– 461 1,499 – 5,220
– – – – 1
... ... ... ... ...
2 21 246 ... 1,918
– 62 1,281 ... 5,492
... ... ... ... ...
3 143 503 – 1,481
Rwanda Sao Tomé and Principe Saudi Arabia Senegal Seychelles
– ... 22 1 3
... – 23,183 2,427 805
17 – 4,962 6 82
– – 2 – 34
... ... ... ... ...
... ... 381 8 62
... ... 4,104 3 ...
... ... ... ... ...
14 – 829 30 23
Sierra Leone Somalia South Africa St. Helena Sudan
– – 88 ... 13
– 96 3,345 – 516
– – 8,569 – 3
– – 256 1 –
... ... ... ... ...
... ... 572 ... 3
... ... 5,386 ... ...
... ... ... ... ...
2 – 470 – –
–
...
11
–
...
...
–
...
–
Claims vis-à-vis Developing countries Africa & Middle East
Egypt Equatorial Guinea Eritrea Ethiopia Gabon
Swaziland
BIS Quarterly Review, September 2011
Greece
Ireland
Italy
Japan
Mexico
A 77
Table 9B (Cont.) End-March 2011 Denmark
France
Germany
Greece
Ireland
Italy
Japan
Mexico
Netherlands
Claims vis-à-vis Syria Tanzania Togo Tunisia Uganda
2 69 – 7 2
121 ... 278 6,074 146
55 13 38 318 14
1 1 – – –
... ... ... ... ...
... ... ... 153 6
1 2 ... ... ...
... ... ... ... ...
2 171 46 30 48
United Arab Emirates Yemen Zambia Zimbabwe Residual
58 8 – 1 ...
13,839 1,086 75 21 ...
9,306 20 6 63 –
57 – 2 – –
... ... ... ... ...
... ... ... ... ...
8,979 2 1 ... ...
... ... ... ... ...
3,296 179 75 2 –
Asia & Pacific
793
139,034
117,273
3,046
139
19,076
199,706
...
53,425
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
1 3 2 29 –
... 65 2,079 234 –
6 107 752 172 –
– 1 – – –
... ... ... ... ...
... ... 69 18 ...
... – 27 ... ...
... ... ... ... ...
– 15 144 170 –
– – – 181 13
... ... ... 32,607 14,705
1 12 3 22,441 11,083
– – – 4 –
... ... ... ... ...
... ... ... 4,525 42
... ... ... 50,673 13,315
... ... ... ... ...
8 4 21 14,940 2,232
Fiji French Polynesia Georgia India Indonesia
– – – 67 47
... 5,138 ... 19,522 5,366
4 – 80 25,838 9,422
– – 3 17 –
... ... ... ... ...
... ... 10 2,123 1,260
– ... 5 21,295 17,959
... ... ... ... ...
– 1 98 12,988 4,372
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
40 ... – – 32
1,313 – ... 236 4,709
2,058 – 7 1 7,813
20 – – – 1
... ... ... ... ...
7,161 ... 149 4 207
485 ... – 70 11,360
... ... ... ... ...
397 – 10 60 1,637
Maldives Marshall Islands Micronesia Mongolia Myanmar
3 – 1 – 2
48 6,199 – 1 ...
50 10,946 – 26 188
– 3,000 – – –
... ... ... ... ...
... 1,397 ... ... ...
... ... ... ... 3
... ... ... ... ...
58 889 – 99 –
Nauru Nepal New Caledonia North Korea Pakistan
– – ... – 10
– – 6,500 14 556
– 3 – 23 543
– – – – –
... ... ... ... ...
... ... ... ... 24
... 2 ... – 216
... ... ... ... ...
– 1 4 – 122
Palau Papua New Guinea Philippines Solomon Islands South Korea
... – 48 ... 87
– ... 3,572 – 27,461
– – 2,402 – 15,504
– – – – –
... ... ... ... ...
... ... 323 ... 1,391
... 83 4,359 ... 42,668
... ... ... ... ...
– – 1,732 – 12,147
54 ... 101 ... ...
336 – 2,752 – –
337 13 6,083 – –
– – – – –
... ... ... ... ...
113 25 62 ... ...
149 – 33,462 ... ...
... ... ... ... ...
171 3 908 – –
Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam
... ... ... 22 50
– – – ... 4,615
82 – – 114 1,159
– – – – –
... ... ... ... ...
... ... ... 29 96
– ... ... 28 3,547
... ... ... ... ...
– – – – 194
Wallis/Futuna Residual
... ...
... ...
– –
– –
... ...
... ...
... ...
... ...
– –
British Overseas Territories Brunei Cambodia China Chinese Taipei
Sri Lanka Tajikistan Thailand Timor Leste Tonga
A 78
BIS Quarterly Review, September 2011
Table 9B (Cont.) End-March 2011 Denmark
France
Germany
3,429
181,854
162,320
92,882
21,492
197,765
22,312
...
Netherlands 94,150
– 38 4 38 14
846 ... 27 4,234 6,238
48 1,394 157 1,470 3,444
2,265 – – 16,038 194
... ... ... ... ...
1,205 494 3,705 8,557 33,532
– 15 ... 126 532
... ... ... ... ...
15 90 52 531 127
89 122 271
40,985 7,398 223
10,226 25,811 1,228
5 236 7
... ... ...
16,620 23,256 743
833 1,062 27
... ... ...
3,306 5,253 8
525 – – 1 1,724
84 ... ... ... 27,860
1,394 208 28 152 62,176
21 1,784 – 36 8,554
... ... ... ... ...
596 28 170 4 48,196
98 ... – ... 5,451
... ... ... ... ...
35 26 15 – 39,038
Romania Russia Serbia
8 258 3
12,799 40,173 3,163
2,860 28,248 648
22,097 553 7,668
... ... ...
13,795 26,424 8,193
58 8,933 45
... ... ...
7,839 13,926 54
Turkey Ukraine Res. Serbia & Montenegro Residual Europe
286 48 ... ...
30,197 6,069 – ...
19,573 3,255 – –
31,628 1,795 1 –
... ... ... ...
5,058 7,189 ... ...
4,871 261 ... ...
... ... ... ...
20,923 2,912 ... –
580
47,394
31,406
9
305
4,746
59,888
729
34,859
29 99 – ... 142 52
2,666 ... 17 – 23,084 4,562
1,798 12 11 – 10,467 7,168
– 3 – – – –
... ... ... ... ... ...
523 25 3 ... 1,418 825
456 ... 77 ... 42,529 2,262
... ... ... ... ... ...
1,702 355 18 21 14,964 3,681
Colombia Costa Rica Cuba Dominica Dominican Republic
10 1 – – 39
945 120 585 ... 676
751 428 183 – 558
1 – – – –
... ... ... ... ...
82 14 92 ... 4
1,123 37 3 ... ...
... ... ... ... 34
56 115 77 17 162
Ecuador El Salvador Falkland Islands Grenada Guatemala
15 3 – ... 1
... ... – 3 ...
110 86 – – 96
3 – – – –
... ... ... ... ...
28 ... ... ... 31
132 ... ... ... ...
... ... ... ... ...
15 17 – 2 83
Guyana Haiti Honduras Jamaica Mexico
... – – 1 78
– ... 71 ... 10,609
– – 7 194 5,659
– – – – –
... ... ... ... ...
... ... ... 8 1,213
... ... ... 27 10,921
682 ... 13 ... ...
– 12 83 60 12,446
Nicaragua Paraguay Peru St. Lucia St. Vincent
1 22 23 ... ...
... ... 2,047 ... 63
8 68 1,115 26 120
– – 2 – –
... ... ... ... ...
3 11 239 ... 4
– ... 1,405 ... ...
... ... ... ... ...
91 95 352 74 8
Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela
– – 2 8 54
11 438 ... 257 600
1 1,344 – 334 862
– – – – –
... ... ... ... ...
... 3 ... 18 195
... 76 ... 297 543
... ... ... ... ...
32 85 2 221 13
... ... 1
... 6,530 ...
– 28,683 128
– 110 –
... ... ...
... 4,570 415
... ... ...
... 144 688
– 2,918 –
Claims vis-à-vis Europe Albania Belarus Bosnia and Herzegovina Bulgaria Croatia Czech Republic Hungary Latvia Lithuania Macedonia, FYR Moldova Montenegro Poland
Latin America/Caribbean Argentina Belize Bolivia Bonaire, Saint Eustatius and Brazil Chile
Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
Greece
Ireland
Italy
Japan
Mexico
A 79
Table 9B (Cont.) End-March 2011 Panama ... ... ...
153,728 106,211 99,760
1,508,693 957,697 722,491
819,457 717,215 651,083
Switzerland 1,813,306 1,431,024 574,990
Austria Andorra Belgium Cyprus Denmark
... ... ... ... ...
187 29 465 82 415
5,288 2,284 4,441 92 1,867
1,365 2 2,846 1,151 183,068
13,069 67 11,763 2,782 11,092
359 – 258 ... 56
7,978 11 32,108 3,280 14,646
10,920 ... 41,616 1,318 25,143
Estonia Finland France Germany Greece
... ... ... ... ...
... 59 7,411 3,910 10,158
12 3,014 28,790 58,840 1,265
18,520 123,694 13,732 74,087 147
49 6,925 71,006 79,350 3,212
– 2 440 2,319 72
21 8,317 279,957 186,376 13,679
182 11,411 171,180 159,564 8,787
Iceland Ireland Italy Liechtenstein Luxembourg
... ... ... ... ...
141 22,250 2,998 3 2,613
364 11,052 35,190 3 8,325
193 2,870 1,314 18 8,551
519 14,155 19,642 ... 46,982
2 81 396 – 196
773 154,127 68,697 629 42,321
1,044 72,250 42,473 ... 31,241
Malta Netherlands Norway Portugal Slovakia
... ... ... ... ...
848 13,111 168 . 86
166 19,892 5,545 89,932 167
151 10,887 139,693 388 393
586 42,732 7,340 3,094 138
725 3,202 65 1 –
... 131,526 18,465 26,654 972
252 99,766 21,701 5,799 1,054
Slovenia Spain Sweden Switzerland United Kingdom
... ... ... ... ...
43 25,616 181 2,928 6,058
110 . 2,709 10,773 432,370
3 4,214 . 3,427 60,246
158 19,883 10,546 . 209,806
– 177 34 209 8,241
747 107,709 21,168 56,834 .
261 54,311 24,106 44,111 564,183
Vatican Other
... ...
... ...
– –
– 123
6 88
– –
... –
... ...
Claims vis-à-vis All countries Developed countries Europe
Other developed countries
Portugal
Spain
Sweden
Turkey 24,374 19,977 16,835
United Kingdom 4,170,578 2,648,561 1,184,267
United States 3,082,785 1,930,022 1,392,673
...
6,451
235,206
66,132
856,034
3,142
1,457,624
537,349
Australia Canada Japan New Zealand United States
... ... ... ... ...
276 263 40 1 5,871
4,392 1,707 545 163 228,399
2,448 1,571 1,017 38 61,058
32,350 23,478 82,827 919 716,460
5 21 97 1 3,018
106,045 92,123 119,794 ... 1,139,662
107,987 114,658 308,369 4,983 .
Offshore centres
...
8,696
25,205
22,672
204,172
397
606,247
396,107
... ... ... ... ...
1 349 3 48 67
76 942 36 4 503
– 324 2 2 3,060
171 11,087 2,149 134 5,008
– – 179 – –
... 2,323 ... 941 ...
... 12,605 4,000 336 11,155
Cayman Islands
...
3,886
8,066
9,740
86,715
142
78,048
228,091
Curacao Gibraltar Guernsey Hong Kong SAR Isle of Man
... ... ... ... ...
2 109 ... 420 217
204 182 934 6,921 1,006
1 434 371 775 132
578 752 9,302 16,063 602
2 – – 2 –
1,699 3,918 10,753 299,405 12,175
2,608 177 ... 52,240 ...
Jersey Lebanon Macau SAR Mauritius Netherlands Antilles
... ... ... ... ...
136 ... 1,779 42 ...
1,865 11 33 317 ...
1,844 3 – 23 ...
4,933 1,392 122 406 ...
– 6 – – ...
48,978 ... ... 3,885 ...
... 599 1,087 1,495 ...
Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
... ... ... ... ... ...
765 ... 26 14 ... 832
2,544 – 562 7 1 991
261 – 5,252 – – 448
8,227 468 18,855 ... 17 37,191
55 – 1 – – 10
... 77 91,948 ... 5 22,051
3,061 96 56,058 ... 2 22,497
Aruba Bahamas Bahrain Barbados Bermuda
A 80
BIS Quarterly Review, September 2011
Table 9B (Cont.) End-March 2011 Claims vis-à-vis Developing countries Africa & Middle East
Panama
Portugal
Spain
Sweden
... ...
38,388 10,023
524,428 6,079
76,550 4,021
Switzerland 171,188 28,568
Algeria Angola Benin Botswana Burkina Faso
... ... ... ... ...
1 3,387 ... ... ...
67 274 – – –
3 23 – 43 48
Burundi Cameroon Cape Verde Central African Republic Chad
... ... ... ... ...
... ... 1,331 ... ...
– 3 16 1 –
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
... ... ... ... ...
... ... 1 ... ...
Egypt Equatorial Guinea Eritrea Ethiopia Gabon
... ... ... ... ...
Gambia Ghana Guinea Guinea-Bissau Iran
3,879 450
United Kingdom 894,086 232,829
United States 739,310 59,189
55 173 1 – 2
– – – – –
45 1,114 ... ... 24
2,130 – 2 178 27
– – – – –
3 4 7 – –
– – – – –
– ... – – ...
12 344 – ... 10
– 2 1 3 –
– – – – –
– 16 166 93 1
– – – – –
– ... ... ... ...
... 18 47 152 –
1 ... ... ... ...
223 16 – – 111
20 – – – 1
778 – 1 3 59
35 – – – –
9,871 ... – ... 29
2,796 ... ... – 35
... ... ... ... ...
... ... ... 2 ...
– 2 7 3 135
– 76 – – 183
2 50 2 – 238
– – – – 82
... ... ... ... 471
... 402 36 ... –
Iraq Israel Jordan Kenya Kuwait
... ... ... ... ...
... 34 1 ... 443
1 17 2 2 229
1 331 4 6 9
45 3,347 204 225 2,450
29 1 – – 34
... 5,147 ... ... ...
17 5,472 489 826 7,232
Lesotho Liberia Libya Madagascar Malawi
... ... ... ... ...
... 44 3 ... 3
– 179 2 – –
– 1,848 2 – –
– 2,979 36 6 3
– 39 – – –
... 5,259 71 ... 13
– 605 1 – 5
Mali Mauritania Morocco Mozambique Namibia
... ... ... ... ...
... ... 140 3,494 2
– 10 1,345 7 152
– – 5 72 7
4 3 244 5 4
– – – – –
... ... 409 391 ...
– 17 704 1 1
Niger Nigeria Oman Palestinian Territory Qatar
... ... ... ... ...
... 2 48 ... 1
– 4 64 – 1,198
5 17 18 – 425
3 207 90 7 1,093
– – – – 26
... ... ... ... ...
87 2,001 281 ... 2,456
Rwanda Sao Tomé and Principe Saudi Arabia Senegal Seychelles
... ... ... ... ...
... 55 1 1 ...
6 – 344 21 9
6 – 212 2 1
1 – 3,942 37 690
– – 20 20 –
– – 13,929 35 390
– ... 5,052 221 20
Sierra Leone Somalia South Africa St. Helena Sudan
... ... ... ... ...
... ... 959 ... ...
– – 89 – –
– – 71 – 3
– – 3,750 – 131
– – – – 39
... – 95,226 ... 22
... – 10,947 ... 2
Swaziland
...
...
2
1
1
–
10
–
BIS Quarterly Review, September 2011
Turkey
A 81
Table 9B (Cont.) End-March 2011 Panama
Portugal
Spain
Sweden
Claims vis-à-vis
Switzerland
Turkey
United Kingdom
United States
Syria Tanzania Togo Tunisia Uganda
... ... ... ... ...
... ... ... 38 ...
1 1 – 60 –
– 113 – 73 56
36 23 8 30 5
1 – – – –
26 1,117 ... 131 ...
2 245 5 468 214
United Arab Emirates Yemen Zambia Zimbabwe Residual
... ... ... ... ...
30 ... ... 1 ...
1,469 – – 1 –
332 3 – 1 ...
7,276 7 11 11 –
124 – – – –
57,211 167 ... ... ...
15,260 19 347 3 –
Asia & Pacific
...
615
10,037
9,880
85,026
595
449,542
347,626
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
... ... ... ... ...
... ... ... ... ...
– 3 – 2 –
1 – – 105 12
– 9 375 52 –
– – 328 – –
... ... 665 ... 2
1 – 161 997 ...
British Overseas Territories Brunei Cambodia China Chinese Taipei
... ... ... ... ...
1 ... ... 191 ...
– – – 8,392 184
– – – 4,248 84
2 90 1 19,858 16,609
– – – 5 –
6 ... 10 109,751 50,840
... 1,383 2 80,442 39,822
Fiji French Polynesia Georgia India Indonesia
... ... ... ... ...
... ... ... 88 1
– 1 3 587 38
– – 2 880 658
7 35 132 9,695 6,394
– – 34 32 –
14 ... 287 77,608 18,011
13 6 130 67,839 16,208
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
... ... ... ... ...
110 ... ... ... ...
59 – 3 – 1
115 – – 1 271
1,231 – 2 7 2,434
89 – 7 – 1
4,000 – – ... 41,452
3,543 ... ... – 18,351
Maldives Marshall Islands Micronesia Mongolia Myanmar
... ... ... ... ...
... 57 ... ... ...
– 69 – 3 1
3 1,454 – 3 –
15 2,751 2 39 –
– 65 – – –
... 4,836 – 6 ...
1 ... ... 49 ...
Nauru Nepal New Caledonia North Korea Pakistan
... ... ... ... ...
... ... ... ... 17
– – – – 2
1 – – – 1,192
– 3 3 – 3,111
– – – – –
... ... ... – 6,291
... 2 – ... 1,597
Palau Papua New Guinea Philippines Solomon Islands South Korea
... ... ... ... ...
... ... ... ... 7
– – 33 – 646
– – 248 – 90
– 5 1,922 – 17,872
– – – – 16
– 104 7,536 – 97,131
... 119 7,301 ... 95,873
Sri Lanka Tajikistan Thailand Timor Leste Tonga
... ... ... ... ...
... ... ... 84 ...
– – 6 – –
302 – 110 – –
124 – 1,836 – –
– – – – –
... – 15,977 ... –
527 ... 11,010 ... ...
Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam
... ... ... ... ...
... ... ... ... ...
– – – 3 1
25 – – – 75
– – – 27 383
3 – – 15 –
... – 16 ... ...
... ... 18 3 2,135
Wallis/Futuna Residual
... ...
... 59
– –
– ...
– –
– –
... ...
... 93
A 82
BIS Quarterly Review, September 2011
Table 9B (Cont.) End-March 2011 Panama ...
16,579
39,197
59,708
Switzerland 19,827
2,832
United Kingdom 62,039
Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
... ... ... ... ...
... ... ... ... ...
– 12 1 94 70
– 9 6 6 9
8 251 3 268 659
23 22 44 17 –
10 26 ... 466 228
10 57 6 444 354
Czech Republic Hungary Latvia
... ... ...
15 275 3
536 876 20
97 213 17,567
533 858 21
– 6 –
4,627 ... 125
3,481 5,025 198
Lithuania Macedonia, FYR Moldova Montenegro Poland
... ... ... ... ...
1 ... 2 ... 15,351
6 2 3 – 12,222
19,527 – – – 10,542
351 12 15 158 2,047
– 40 – – 1
27 – 8 – 8,884
212 5 – ... 19,518
Romania Russia Serbia
... ... ...
807 65 ...
216 2,599 10
45 8,451 39
355 8,290 83
1,115 614 –
2,313 13,307 26
1,780 23,071 ...
Turkey Ukraine Res. Serbia & Montenegro Residual Europe
... ... ... ...
17 42 ... 1
22,476 54 ... –
926 2,271 – ...
3,537 2,378 ... –
– 1 – 949
28,598 681 ... ...
23,248 1,877 145 ...
Claims vis-à-vis Europe
Latin America/Caribbean
Portugal
Spain
Sweden
Turkey
United States 79,431
...
11,171
469,115
2,941
37,767
2
149,676
253,064
Argentina Belize Bolivia Bonaire, Saint Eustatius and Brazil Chile
... ... ... ... ... ...
301 531 2 ... 8,417 228
16,880 6 79 – 191,118 63,092
6 8 6 – 1,161 368
1,166 667 186 ... 22,504 950
– – – – – –
... 319 22 ... 79,384 ...
6,518 44 16 ... 89,920 10,035
Colombia Costa Rica Cuba Dominica Dominican Republic
... ... ... ... ...
75 14 3 ... 8
16,081 334 359 31 324
88 47 17 – 46
423 125 – 10 108
– – – – –
... ... ... – 237
11,758 1,677 ... ... 1,043
Ecuador El Salvador Falkland Islands Grenada Guatemala
... ... ... ... ...
33 3 ... 1 1
424 38 24 – 80
1 2 – – 12
239 94 – 3 349
– – – – –
143 ... ... 10 192
685 2,643 – – 1,815
Guyana Haiti Honduras Jamaica Mexico
... ... ... ... ...
1 ... 1 10 198
– 3 18 7 147,823
– – 1 – 1,128
3 1 30 99 8,173
– – – – –
– ... ... 152 45,458
22 124 887 531 113,850
Nicaragua Paraguay Peru St. Lucia St. Vincent
... ... ... ... ...
... 20 18 1 ...
2 1,548 14,861 – –
2 – 28 – –
2 68 765 8 213
– – – – 2
... ... ... 18 53
258 484 4,859 ... ...
Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela
... ... ... ... ...
1 1 ... 33 856
– 37 1 3,953 11,992
– – – 2 18
4 239 143 366 829
– – – – –
– 221 27 393 1,401
4 730 ... 871 2,828
... ... ...
414 433 ...
– 1,327 36
... 154 2,866
– 6,922 –
– – 121
... 21,431 253
1,462 8,867 8,479
Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
A 83
Table 9C: Consolidated foreign claims and other exposures of reporting banks - ultimate risk basis On individual countries by sector and type / Amounts outstanding In millions of US dollars End-March 2011 Claims vis-à-vis
All countries Developed countries Europe
Consolidated cross-border and local claims in all currencies Total Foreign of which of which on Claims of 24 Banks Public sector Non-bank cross-border countries private sector claims S F G H T 26,692,406 6,162,672 5,271,820 15,003,707 14,250,761 19,845,432 5,041,663 3,817,167 10,788,009 10,812,594 12,177,990 3,650,338 1,949,950 6,492,720 7,553,200
Other exposures (not included in Foreign Claims) Derivatives Guarantees Credit contracts extended commitments V W X 3,380,413 7,407,627 3,733,824 3,068,765 6,015,908 2,901,917 2,028,518 4,205,873 1,778,584
Austria Andorra Belgium Cyprus Denmark
282,575 2,207 515,819 37,622 324,245
109,055 963 114,016 3,095 118,021
58,440 282 111,561 2,546 15,420
114,868 953 289,553 31,834 154,147
180,486 1,507 254,639 26,977 143,635
24,908 66 43,897 1,311 37,251
48,282 77 82,645 4,879 26,779
14,394 360 108,153 3,641 52,999
Estonia Finland France Germany Greece
20,483 193,500 1,245,845 1,764,520 138,356
523 36,375 619,777 545,456 11,024
1,093 34,682 229,067 525,727 45,001
18,732 122,215 392,266 686,841 82,226
7,982 80,844 1,040,216 1,149,807 80,401
217 30,360 273,780 393,321 6,592
2,216 65,015 455,538 405,571 48,169
226 32,092 248,546 241,246 8,685
Iceland Ireland Italy Liechtenstein Luxembourg
10,439 473,047 912,110 4,899 539,482
4,928 78,905 166,039 890 140,386
1,064 18,248 281,635 8 20,324
4,404 374,701 463,408 3,921 374,173
10,327 371,164 495,285 4,882 436,830
297 79,270 78,342 692 39,006
4,965 93,787 312,004 1,586 171,062
349 35,071 89,849 974 56,229
Malta Netherlands Norway Portugal Slovakia
16,910 789,627 260,055 212,704 72,479
2,260 214,403 50,463 43,848 6,708
527 87,241 43,444 35,279 20,804
13,540 485,741 165,998 133,554 43,611
9,780 696,123 119,929 108,755 18,112
357 126,756 18,263 9,496 1,095
585 339,007 34,305 68,250 9,882
859 90,634 34,866 22,931 11,701
37,957 726,198 166,586 396,087 3,033,214
5,591 216,699 69,995 152,450 938,213
7,064 109,370 20,946 62,791 217,360
24,925 399,918 74,990 180,536 1,854,939
20,607 510,621 153,927 339,976 1,289,670
768 47,449 20,869 98,124 695,723
5,121 196,476 92,639 161,704 1,575,144
2,961 67,650 32,398 80,078 541,460
2 1,022
– 255
2 24
– 726
2 716
1 307
3 182
– 232
Slovenia Spain Sweden Switzerland United Kingdom Vatican Other Other developed countries
7,667,442
1,391,325
1,867,217
4,295,289
3,259,394
1,040,247
1,810,035
1,123,333
Australia Canada Japan New Zealand United States
561,327 452,677 794,702 274,269 5,582,971
151,610 91,130 249,448 15,746 882,661
79,580 105,093 297,176 17,081 1,367,450
329,611 255,822 244,820 241,017 3,223,374
256,478 223,962 317,101 20,146 2,440,211
79,764 65,161 110,238 9,360 774,854
124,821 89,434 209,389 10,069 638,657
71,279 96,350 61,870 35,624 858,192
Offshore centres
1,899,020
179,207
176,717
1,511,556
1,209,795
126,115
260,716
236,511
930 26,282 20,128 6,837 66,240
164 4,633 9,103 1,656 2,139
119 1,815 1,015 865 169
646 19,366 9,988 4,316 63,716
930 20,395 12,422 2,569 60,608
– 3,621 1,187 1,023 3,745
293 1,490 2,214 2,120 26,383
12 5,989 1,831 522 21,011
Cayman Islands
625,917
11,909
2,782
594,406
606,658
49,157
79,411
41,493
Curacao Gibraltar Guernsey Hong Kong SAR Isle of Man
8,691 6,259 35,633 517,727 24,282
281 1,395 2,875 75,248 259
61 85 49 103,601 394
8,331 4,727 28,151 337,256 23,581
8,546 4,966 31,400 113,807 19,075
704 89 1,734 21,669 809
3,142 192 7,492 58,433 2,658
1,602 606 6,258 53,841 4,639
Jersey Lebanon Macau SAR Mauritius Netherlands Antilles
109,875 5,034 5,585 9,037 ...
7,231 960 579 559 ...
224 1,565 738 388 ...
101,959 2,500 4,270 8,091 ...
100,345 3,800 2,726 6,450 ...
11,375 158 89 3,914 ...
4,988 2,679 679 811 ...
36,850 1,588 1,747 2,472 ...
Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
43,110 1,446 295,752 2,008 393 85,431
2,532 13 55,025 501 4 1,461
1,407 21 60,102 278 26 1,013
39,078 1,410 178,872 1,228 363 77,558
33,550 1,185 94,222 1,844 104 81,770
2,199 26 21,872 – – 2,743
11,958 109 47,409 3 19 8,223
10,002 691 32,824 1 21 12,511
Aruba Bahamas Bahrain Barbados Bermuda
A 84
BIS Quarterly Review, September 2011
Table 9C (cont.) End-March 2011 Claims vis-à-vis
Developing countries Africa & Middle East
Consolidated cross-border and local claims in all currencies of which on Total Foreign of which Claims of 24 Banks Public sector Non-bank cross-border countries private sector claims S F G H T 4,816,517 932,975 1,181,117 2,682,276 2,101,937 591,861 95,932 120,817 374,546 345,252
Other exposures (not included in Foreign Claims) Derivatives Guarantees Credit contracts extended commitments V W X 165,469 991,659 593,833 29,669 128,792 74,111
Algeria Angola Benin Botswana Burkina Faso
8,154 6,582 92 3,185 1,032
628 703 12 89 84
3,028 1,915 31 235 70
4,498 3,612 48 2,861 878
3,126 4,364 91 554 438
32 13 – 12 –
4,907 1,019 42 45 230
2,027 1,084 12 161 95
Burundi Cameroon Cape Verde Central African Republic Chad
35 3,563 1,288 38 73
16 322 388 – 1
– 634 64 – –
19 2,606 836 38 72
35 928 636 38 73
2 5 – – –
28 541 122 2 29
6 216 593 – –
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
20 280 488 3,000 175
9 22 20 259 3
– 27 179 416 8
11 231 288 2,322 164
20 263 440 1,446 175
– 11 2 64 16
– 67 104 458 19
3 84 77 81 –
39,835 784 10 98 657
3,793 11 – 1 25
10,821 587 – 43 528
25,218 186 10 55 101
12,287 77 10 98 623
1,240 – – – –
9,188 61 5 234 27
4,525 157 – 233 714
69 5,336 546 7 4,614
1 762 64 – 1,580
– 1,042 236 – 127
68 3,531 245 7 2,904
44 3,292 276 7 4,595
– 79 1 – 24
6 348 86 – 189
6 1,195 96 – 589
Iraq Israel Jordan Kenya Kuwait
1,385 21,579 3,544 4,036 19,708
335 2,464 898 559 2,177
960 9,420 720 368 8,467
90 9,653 1,923 3,107 9,061
1,195 16,863 1,721 1,543 18,374
– 2,707 141 17 347
1,847 8,786 853 506 2,576
196 3,004 1,046 628 1,266
Lesotho Liberia Libya Madagascar Malawi
12 27,419 476 1,161 24
– 204 186 175 17
– 1 – 120 –
12 27,214 290 867 7
12 26,252 474 466 24
– 535 2 – 1
– 4,651 1,105 164 5
– 5,353 189 112 10
Mali Mauritania Morocco Mozambique Namibia
288 391 26,056 4,187 375
81 116 3,086 355 46
60 – 2,063 743 –
147 275 20,906 3,089 329
197 390 12,031 769 375
– 1 1,054 3 6
77 206 5,246 367 51
33 222 4,960 487 54
Niger Nigeria Oman Palestinian Territory Qatar
180 7,652 8,400 51 49,377
14 2,582 1,469 7 7,390
85 1,279 974 29 10,988
81 3,789 5,958 15 30,994
177 5,009 5,963 15 42,304
– 85 575 – 2,303
14 3,240 1,120 21 7,459
12 1,945 2,915 43 3,533
Rwanda Sao Tomé and Principe Saudi Arabia Senegal Seychelles
68 32 60,868 2,879 1,440
30 1 22,165 182 113
– 16 18,783 393 6
38 15 19,895 2,301 1,320
68 32 58,067 1,071 1,189
– – 3,701 8 6
51 – 12,318 314 150
5 56 7,470 107 612
319 107 131,742 28 538
6 3 17,160 – 95
– 22 25,837 – 385
312 82 88,701 28 57
276 107 30,973 17 533
6 – 9,017 – 7
37 – 24,191 – 100
– – 10,283 – 14
225
106
–
119
225
16
180
7
Egypt Equatorial Guinea Eritrea Ethiopia Gabon Gambia Ghana Guinea Guinea-Bissau Iran
Sierra Leone Somalia South Africa St. Helena Sudan Swaziland
BIS Quarterly Review, September 2011
A 85
Table 9C (cont.) End-March 2011 Claims vis-à-vis
Syria Tanzania Togo Tunisia Uganda
Consolidated cross-border and local claims in all currencies of which on Total Foreign of which Claims of 24 Banks Public sector Non-bank cross-border countries private sector claims S F G H T
Other exposures (not included in Foreign Claims) Derivatives Guarantees Credit contracts extended commitments V W X
269 1,641 373 7,293 1,033
84 233 322 1,061 168
5 482 6 1,677 101
182 926 45 4,553 764
262 428 373 2,925 576
1 10 – 207 2
2,148 256 50 2,071 32
37 188 6 1,161 111
122,766 1,310 2,282 384 2
22,613 343 246 47 –
16,420 5 364 47 –
83,666 961 1,673 290 2
78,287 982 587 182 2
7,320 27 18 45 –
30,238 378 190 37 –
15,924 56 40 72 –
Asia & Pacific
1,666,083
486,517
341,208
837,054
856,165
66,254
289,830
177,022
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
92 603 3,747 5,994 14
63 111 838 1,425 –
– 103 178 751 11
30 390 2,729 3,818 2
46 246 3,715 1,873 2
2 1 110 33 –
34 33 531 1,115 –
13 231 887 1,219 27
British Overseas Territories Brunei Cambodia China Chinese Taipei
70 3,732 191 425,493 162,984
– 93 14 205,771 33,179
– 1,501 3 52,703 61,447
70 2,138 174 166,948 68,178
34 2,000 110 250,001 69,517
– 196 – 15,963 4,115
1 141 7 52,466 10,322
4 557 15 29,256 21,946
Fiji French Polynesia Georgia India Indonesia
1,516 5,176 1,184 281,620 84,054
– 1,335 243 75,031 10,915
141 206 162 28,260 26,971
1,375 3,634 777 178,149 45,779
131 2,556 867 172,177 50,031
2 – 5 14,947 2,035
48 60 86 36,297 18,337
67 11 221 44,621 10,835
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
19,840 38 176 354 139,187
4,649 36 14 11 20,851
3,832 – 25 27 36,440
11,314 2 137 315 81,873
9,344 38 32 353 39,823
234 – – 39 3,410
16,238 10 9 6 27,448
1,285 – 20 81 22,535
Maldives Marshall Islands Micronesia Mongolia Myanmar
558 30,663 9 203 242
15 67 – 89 201
272 2 – 25 –
269 30,591 9 89 40
249 29,988 9 203 233
1 1,812 – – –
5 525 – 12 1
31 6,188 8 16 13
Nauru Nepal New Caledonia North Korea Pakistan
4 297 6,357 72 11,739
– 168 1,426 21 5,321
– 18 524 12 1,564
4 111 4,407 39 4,853
4 58 3,693 73 2,131
2 – 1 – 1,798
– 23 564 1 2,182
– 32 534 6 1,295
1 2,968 32,421 148 338,535
– 13 8,944 2 88,348
– 1,032 10,243 47 85,607
1 1,921 13,207 99 164,319
– 487 20,437 3 157,750
– 4 1,763 – 15,599
– 236 21,152 4 69,046
– 1,011 4,151 11 21,974
Sri Lanka Tajikistan Thailand Timor Leste Tonga
5,940 31 82,245 86 136
588 6 22,710 – –
2,610 – 24,364 – 6
2,740 25 35,147 86 130
2,443 31 26,655 3 1
142 – 3,725 – –
444 1 12,809 2 1
289 1 4,475 116 7
Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam
84 – 51 212 16,893
82 – 5 198 3,723
– – – 3 2,118
2 – 46 11 10,964
84 – 42 208 8,387
14 – 8 212 80
307 – 3 191 5,332
– – 7 284 2,735
44 79
9 2
– –
35 77
18 79
– 1
4 13,796
– 7
United Arab Emirates Yemen Zambia Zimbabwe Residual
Palau Papua New Guinea Philippines Solomon Islands South Korea
Wallis/Futuna Residual
A 86
BIS Quarterly Review, September 2011
Table 9C (cont.) End-March 2011 Claims vis-à-vis
Europe
Consolidated cross-border and local claims in all currencies of which on Total Foreign of which Claims of 24 Banks Public sector Non-bank cross-border countries private sector claims S F G H T
Other exposures (not included in Foreign Claims) Derivatives Guarantees Credit contracts extended commitments V W X
1,381,083
202,667
307,712
853,967
534,185
23,033
336,373
147,337
7,128 5,503 10,344 36,198 79,321
555 2,472 1,016 2,507 5,316
2,553 176 672 4,422 17,369
3,996 2,616 8,126 28,452 55,540
1,692 4,099 3,475 13,035 31,264
– – – 204 338
171 929 1,003 11,825 9,753
1,328 1,173 1,053 2,684 8,451
Czech Republic Hungary Latvia Lithuania Macedonia, FYR
207,169 128,626 25,229 25,638 2,499
22,918 15,872 3,444 1,521 149
49,040 38,402 1,687 4,073 427
132,193 71,184 19,401 18,381 1,923
51,861 60,282 7,586 15,083 667
5,455 3,061 370 196 –
18,042 37,300 5,788 4,349 211
27,075 10,122 703 1,565 320
Moldova Montenegro Poland Romania Russia
856 1,586 298,975 105,980 191,246
233 164 32,144 10,474 46,531
71 302 91,524 23,970 19,624
521 1,020 174,451 70,660 123,834
534 1,030 85,749 42,165 104,739
1 39 3,996 1,443 4,356
34 317 30,528 19,050 85,714
45 219 32,976 9,197 22,787
Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe
27,462 191,229 34,976 142 976
2,995 48,689 5,055 5 607
5,054 42,121 6,129 96 –
18,660 100,265 22,397 41 306
7,999 88,436 13,890 142 457
139 3,241 190 1 3
3,803 87,999 19,350 192 15
2,728 22,865 2,046 – –
1,177,490
147,859
411,380
616,709
366,335
46,513
236,664
195,363
37,270 2,072 251 21 517,897 106,514
2,634 248 11 – 78,964 13,522
11,474 104 12 – 194,532 15,204
23,117 1,715 227 21 243,121 77,770
11,690 1,657 241 21 191,985 30,418
178 83 2 – 16,542 11,899
21,932 211 78 – 87,220 8,341
5,436 589 65 – 104,719 14,815
33,548 6,209 1,405 224 3,772
5,347 601 995 1 248
8,454 1,086 212 5 1,188
19,734 4,521 195 218 2,332
11,393 2,089 1,372 106 2,481
1,730 87 – – 13
15,328 689 124 – 428
5,504 488 90 2 511
1,257 7,079 49 271 2,945
227 1,421 6 – 944
221 1,174 – 35 433
810 4,483 43 236 1,566
860 1,059 28 92 1,804
9 32 – – 86
505 958 – 4 323
202 441 5 2 128
Guyana Haiti Honduras Jamaica Mexico
255 201 2,335 6,184 365,514
1 46 783 304 33,280
78 37 473 3,023 149,805
176 117 1,077 2,852 182,355
24 30 821 2,564 76,627
– – 125 55 13,884
– 14 43 709 61,805
32 2 112 107 53,401
Nicaragua Paraguay Peru St. Lucia St. Vincent
377 2,671 37,548 1,635 630
96 326 5,291 84 1
20 462 9,915 179 26
260 1,880 22,324 1,372 586
172 442 11,275 1,124 507
18 2 829 – 9
16 98 14,939 4 23
35 210 3,749 9 285
Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela
378 9,447 1,119 6,622 19,961
130 463 63 347 1,383
25 2,777 30 2,546 7,847
224 6,206 1,026 3,724 10,687
378 2,990 691 2,100 7,475
– 232 40 141 219
4 412 22 826 19,831
192 260 79 643 2,988
1,829 105,893 25,544
92 7,578 1,249
3 96,187 632
1,734 2,122 19,744
1,819 102,787 23,648
298 17,416 2,648
1,777 1,080 138,264
262 1,193 370
Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
Latin America/Caribbean Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil Chile Colombia Costa Rica Cuba Dominica Dominican Republic Ecuador El Salvador Falkland Islands Grenada Guatemala
Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
A 87
Table 9D: Consolidated foreign claims of reporting banks - ultimate risk basis On individual countries by nationality of reporting banks / Amounts outstanding In millions of US dollars End-March 2011
Total of 24 countries 26,692,406 19,845,432 12,177,990
European banks 18,673,666 14,023,215 9,275,663
Austria Andorra Belgium Cyprus Denmark
282,575 2,207 515,819 37,622 324,245
Estonia Finland France Germany Greece
Claims vis-à-vis All countries Developed countries Europe
Australia
Austria
Belgium
Canada
Chile
France
588,476 508,996 176,379
531,260 248,760 228,941
394,537 285,212 241,470
951,239 809,869 208,991
4,450 2,511 324
3,266,294 2,655,889 1,851,108
261,760 2,205 449,932 36,025 284,914
456 – 913 ... 847
... 1 2,994 1,897 1,870
2,586 3 ... 282 850
1,733 – 3,772 ... 3,540
– – 2 – 1
19,957 227 224,935 3,137 19,516
20,483 193,500 1,245,845 1,764,520 138,356
20,303 172,273 852,552 1,312,958 127,837
... 356 14,462 17,870 ...
89 1,178 10,742 59,071 3,267
14 666 55,413 19,463 2,028
– 2,602 28,564 24,008 ...
– 1 78 60 –
65 9,575 ... 265,692 56,942
Iceland Ireland Italy Liechtenstein Luxembourg
10,439 473,047 912,110 4,899 539,482
8,892 378,359 819,185 4,884 429,502
– 4,367 1,444 – 2,234
266 2,725 24,220 733 6,424
70 25,986 24,873 95 9,832
... 4,897 5,644 ... 3,755
– – 29 – –
524 30,101 410,238 538 99,592
Malta Netherlands Norway Portugal Slovakia
16,910 789,627 260,055 212,704 72,479
15,986 614,786 222,348 204,596 71,412
... 8,652 781 ... –
2,419 17,565 1,800 1,760 32,542
28 24,300 344 3,616 8,420
... 15,238 2,922 263 ...
– 2 – – –
569 135,750 18,901 28,349 4,662
37,957 726,198 166,586 396,087 3,033,214
37,513 637,096 117,793 266,093 1,925,495
... 1,868 952 6,960 114,063
17,024 7,910 2,073 10,867 19,504
1,023 22,249 1,408 1,812 36,109
... 3,893 3,175 5,158 98,995
– 51 14 28 58
... 146,085 14,131 62,672 295,218
2 1,022
2 962
– –
... ...
... –
– –
– –
– –
Slovenia Spain Sweden Switzerland United Kingdom Vatican Other Other developed countries
7,667,442
4,747,552
332,617
19,819
43,742
600,878
2,187
804,781
Australia Canada Japan New Zealand United States
561,327 452,677 794,702 274,269 5,582,971
305,174 243,809 438,100 22,919 3,737,550
– 18,133 6,479 239,049 68,956
1,580 1,185 1,122 133 15,799
2,209 1,736 888 11 38,898
23,546 ... 8,219 923 568,190
2 45 59 – 2,081
28,430 31,990 146,518 961 596,882
Offshore centres
1,899,020
1,118,131
31,048
8,898
5,857
42,595
49
120,087
930 26,282 20,128 6,837 66,240
290 11,231 14,266 1,827 38,252
– ... ... ... 642
... 23 383 35 148
– 11 78 20 55
... 7,926 ... 4,691 556
– 15 – – –
... 1,484 2,725 32 5,293
Cayman Islands
625,917
252,426
882
3,314
2,910
14,435
6
26,603
Curacao Gibraltar Guernsey Hong Kong SAR Isle of Man
8,691 6,259 35,633 517,727 24,282
5,989 6,038 30,397 352,438 23,906
– – ... 10,464 ...
... 86 138 183 169
19 2 112 1,365 104
... – ... 3,571 ...
– – – – –
686 277 1,485 29,741 821
Jersey Lebanon Macau SAR Mauritius Netherlands Antilles
109,875 5,034 5,585 9,037 ...
100,076 4,264 3,830 6,690 ...
... – 121 15 ...
1,557 ... ... ... ...
344 1 – 9 ...
... ... ... ... ...
– – – – ...
13,088 1,661 176 1,662 ...
Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
43,110 1,446 295,752 2,008 393 85,431
26,678 275 178,159 34 63 61,002
... ... 17,473 ... ... ...
30 ... ... ... ... 1,262
171 – 537 ... ... 119
... – 2,172 ... – 3,574
28 – – – – –
3,082 ... 22,546 – 28 8,637
Aruba Bahamas Bahrain Barbados Bermuda
A 88
BIS Quarterly Review, September 2011
Table 9D (Cont.) End-March 2011
Total of 24 countries 4,816,517 591,861
European banks 3,442,635 485,771
Algeria Angola Benin Botswana Burkina Faso
8,154 6,582 92 3,185 1,032
Burundi Cameroon Cape Verde Central African Republic Chad Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
Claims vis-à-vis Developing countries Africa & Middle East
Australia
Austria
Belgium
Canada
Chile
France
39,884 3,424
271,948 3,423
103,106 2,189
94,761 2,398
1,890 2
482,734 128,690
6,069 6,574 84 3,002 777
– – – – ...
3 ... ... ... ...
175 8 – – 1
... ... – – –
– – – – –
5,461 789 50 ... 695
35 3,563 1,288 38 73
16 3,222 1,288 38 63
– – – – –
... ... ... ... ...
4 27 – – 4
– – – – –
– – – – –
11 2,701 ... 36 59
20 280 488 3,000 175
19 262 436 2,760 51
– – – 59 –
... ... ... ... ...
... 3 7 13 –
– – ... ... –
– – – – –
19 234 231 ... 26
39,835 784 10 98 657
35,614 784 – 80 559
... – – – 6
26 ... ... ... 4
30 – – – 1
... – – – –
– – – – –
16,528 ... – 66 357
69 5,336 546 7 4,614
68 4,630 491 7 4,539
– ... – – ...
... ... ... ... 24
– 150 – – 27
– – – – ...
– – – – –
... 1,219 ... – 1,412
Iraq Israel Jordan Kenya Kuwait
1,385 21,579 3,544 4,036 19,708
1,322 13,789 2,801 3,169 10,809
– 10 ... ... ...
... 123 ... ... 166
– 16 10 66 –
– 255 ... ... ...
– 2 – – –
64 3,208 506 708 2,635
Lesotho Liberia Libya Madagascar Malawi
12 27,419 476 1,161 24
7 25,226 472 1,158 17
– ... – – –
... ... 45 ... ...
... 60 27 – –
– ... ... – –
– – – – –
... ... 192 1,126 ...
Mali Mauritania Morocco Mozambique Namibia
288 391 26,056 4,187 375
286 373 25,394 4,185 374
– – – – –
... ... 26 ... ...
2 10 48 2 1
– ... ... – –
– – – – –
259 319 23,054 184 73
Niger Nigeria Oman Palestinian Territory Qatar
180 7,652 8,400 51 49,377
37 5,470 6,888 51 38,758
68 3 23 – 280
... 2 180 ... 534
1 5 68 – 395
– ... ... – ...
– – – – –
24 939 1,111 1 9,162
Rwanda Sao Tomé and Principe Saudi Arabia Senegal Seychelles
68 32 60,868 2,879 1,440
68 32 51,720 2,521 1,405
– – 112 ... –
... ... 307 ... 5
– ... 172 1 –
– – ... ... –
– – – – –
... – 23,163 2,415 794
319 107 131,742 28 538
317 103 111,013 16 527
... – 874 – 0
... ... 670 ... ...
– ... 183 ... 0
– – 227 – 0
– – – – 0
– ... 2,858 – 451
225
137
0
...
...
0
0
...
Egypt Equatorial Guinea Eritrea Ethiopia Gabon Gambia Ghana Guinea Guinea-Bissau Iran
Sierra Leone Somalia South Africa St. Helena Sudan Swaziland
BIS Quarterly Review, September 2011
A 89
Table 9D (Cont.) End-March 2011 Claims vis-à-vis Syria Tanzania Togo Tunisia Uganda
Total of 24 countries
European banks
Australia
Austria
Belgium
Canada
Chile
France
269 1,641 373 7,293 1,033
254 1,388 361 6,843 790
– ... – 1 –
2 ... ... 139 ...
– 3 – 133 1
– – – ... ...
– – – – –
138 ... 273 5,859 146
122,766 1,310 2,282 384 2
92,761 1,196 1,937 361 2
1,286 – ... ... –
1,084 7 ... ... ...
533 ... 2 – ...
1,230 – – – –
– – – – –
12,853 917 ... 19 ...
Asia & Pacific
1,666,083
889,598
34,384
6,403
3,182
22,238
437
137,606
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
92 603 3,747 5,994 14
85 593 3,433 4,664 14
... – – ... –
... 3 73 ... ...
– 8 36 2 ...
– – – ... –
– – – – –
31 64 1,082 222 –
British Overseas Territories Brunei Cambodia China Chinese Taipei
70 3,732 191 425,493 162,984
54 2,033 89 223,063 94,749
– 12 6 9,751 ...
... ... ... 2,291 ...
... – 7 1,299 52
6 ... ... 7,178 ...
– – – 264 –
... 163 51 32,935 15,522
Fiji French Polynesia Georgia India Indonesia
1,516 5,176 1,184 281,620 84,054
89 5,170 1,006 157,413 36,728
... ... – ... ...
... ... 1 967 1,033
1 – 2 515 6
– – ... ... 459
– – – 55 –
... 5,137 ... 20,322 4,697
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
19,840 38 176 354 139,187
15,739 36 176 315 59,031
... – – – 705
254 ... ... ... 346
50 ... – 33 221
... – – – ...
– – – – –
1,159 – ... 202 5,369
Maldives Marshall Islands Micronesia Mongolia Myanmar
558 30,663 9 203 242
517 30,473 9 151 233
– ... – ... –
... 6 ... ... ...
... 119 ... – –
– ... – – –
– – – – –
44 2,652 – ... 11
Nauru Nepal New Caledonia North Korea Pakistan
4 297 6,357 72 11,739
3 270 6,350 23 10,116
... – ... ... ...
... ... ... ... 1
... – – – –
– – – ... ...
– – – – –
– – 6,306 ... 338
1 2,968 32,421 148 338,535
– 78 16,264 – 182,897
– ... ... ... ...
... ... 32 ... 1,211
... – 248 ... 401
– – 871 – 4,713
– – – – 118
– ... 2,685 – 32,025
Sri Lanka Tajikistan Thailand Timor Leste Tonga
5,940 31 82,245 86 136
4,574 31 24,442 86 –
... – 91 – ...
8 ... 81 ... ...
3 ... 168 ... ...
... – ... – –
– – – – –
319 – 2,772 – –
Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam
84 – 51 212 16,893
84 – 16 209 8,248
– – – – ...
... ... ... ... ...
... ... ... – 11
– – ... – ...
– – – – –
– – – ... 2,931
44 79
44 –
– –
... ...
... ...
– ...
– –
... ...
United Arab Emirates Yemen Zambia Zimbabwe Residual
Palau Papua New Guinea Philippines Solomon Islands South Korea
Wallis/Futuna Residual
A 90
BIS Quarterly Review, September 2011
Table 9D (Cont.) End-March 2011
Total of 24 countries 1,381,083
European banks 1,275,260
678
261,366
97,257
2,331
4
174,264
7,128 5,503 10,344 36,198 79,321
7,015 5,391 10,338 35,750 78,460
– 4 – ... ...
... ... 6,318 5,498 34,220
– 40 1 1,536 203
– – – – –
– – – – –
805 ... 37 3,240 6,170
Czech Republic Hungary Latvia
207,169 128,626 25,229
203,045 122,337 24,960
... ... –
73,544 42,217 283
51,540 17,228 47
... ... ...
– – –
40,864 6,808 ...
Lithuania Macedonia, FYR Moldova Montenegro Poland
25,638 2,499 856 1,586 298,975
25,141 2,497 851 1,586 274,774
7 – – – ...
266 404 ... 739 15,779
146 3 1 4 19,170
– – – – ...
– – – – –
85 ... ... ... 26,834
Romania Russia Serbia
105,980 191,246 27,462
104,295 155,847 27,393
... ... –
42,486 ... 7,923
528 4,341 70
... 210 ...
– – –
12,168 39,793 3,118
Turkey Ukraine Res. Serbia & Montenegro Residual Europe
191,229 34,976 142 976
162,013 32,590 1 976
... ... – –
1,362 9,044 ... ...
2,375 24 ... ...
1,933 ... ... –
4 – – –
27,075 5,510 – ...
1,177,490
792,006
1,398
756
478
67,794
1,447
42,174
37,270 2,072 251 21 517,897 106,514
30,092 1,559 158 21 373,024 82,277
... – – ... ... ...
18 ... ... ... 254 65
39 – 6 ... 153 35
... ... – – ... ...
50 – – – 1,095 –
1,773 ... ... – 24,175 3,492
33,548 6,209 1,405 224 3,772
20,405 2,222 1,210 65 1,400
... ... – – ...
5 ... ... ... 4
1 1 – – 7
481 ... ... 153 ...
80 – 3 – –
845 115 584 ... 278
1,257 7,079 49 271 2,945
645 2,127 36 8 996
– ... – – ...
2 ... ... ... ...
6 2 ... ... 15
– ... – ... ...
2 – – – –
... ... – ... ...
Guyana Haiti Honduras Jamaica Mexico
255 201 2,335 6,184 365,514
2 18 1,417 793 225,446
– – ... ... ...
... ... ... 3 268
– – 24 – 164
... ... ... ... ...
– – – – 41
– 3 ... 89 8,063
Nicaragua Paraguay Peru St. Lucia St. Vincent
377 2,671 37,548 1,635 630
123 2,219 20,753 132 349
– – ... – –
... ... 22 ... ...
11 – 14 ... ...
... – ... 1,503 ...
– – 168 – –
– ... 1,196 ... 56
Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela
378 9,447 1,119 6,622 19,961
26 2,226 310 5,135 16,477
– ... – ... ...
... ... ... 5 16
– ... – – –
... 6,398 809 ... ...
– – – 7 1
10 ... ... 167 359
1,829 105,893 25,544
335 85,124 4,561
– 5,541 3,007
... 1,654 ...
... 362 ...
... 3,893 121
– – –
... 7,584 –
Claims vis-à-vis Europe Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
Latin America/Caribbean Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil Chile Colombia Costa Rica Cuba Dominica Dominican Republic Ecuador El Salvador Falkland Islands Grenada Guatemala
Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
Australia
Austria
Belgium
Canada
Chile
France
A 91
Table 9D (Cont.) End-March 2011 Germany 3,087,270 2,548,210 1,910,715
144,716 45,240 39,608
49,025 30,117 15,721
403,119 367,544 307,537
942,905 693,382 636,559
2,612,374 1,993,668 690,393
Netherlands 1,378,697 1,151,873 736,729
Austria Andorra Belgium Cyprus Denmark
90,413 84 35,234 9,699 33,985
105 – 238 10,963 40
87 – 1,128 301 210
3,267 ... 5,460 ... 965
109,554 ... 4,697 1,788 2,667
7,459 ... 16,289 ... 8,608
8,808 4 118,351 1,448 5,193
273 28 470 74 438
Estonia Finland France Germany Greece
526 14,629 206,789 ... 23,770
3 2 1,736 5,185 ...
– 40 1,215 3,097 33
... ... 16,264 61,158 855
374 1,393 42,592 272,029 4,533
– 4,761 97,912 156,866 1,262
11 3,887 84,966 193,282 5,224
... 60 7,420 4,389 10,245
Iceland Ireland Italy Liechtenstein Luxembourg
4,559 116,527 164,932 1,677 171,676
34 528 595 2 957
13 393 337 – 274
– ... 13,054 ... 2,776
728 13,419 ... 231 26,549
299 21,308 41,000 ... 42,377
694 18,773 48,967 814 15,565
143 5,326 3,118 2 2,713
Malta Netherlands Norway Portugal Slovakia
1,961 167,245 28,457 38,862 3,980
284 4,121 76 92 –
292 1,674 171 52 29
... 6,284 902 2,482 ...
598 25,687 2,694 4,331 19,135
... 47,613 12,162 2,130 62
712 ... 4,475 6,568 1,255
530 12,696 168 ... 86
Slovenia Spain Sweden Switzerland United Kingdom
4,811 177,859 34,569 58,543 519,866
3 361 29 765 13,489
1 121 70 613 5,570
... 14,669 2,285 4,207 169,342
8,581 31,762 2,937 11,444 48,096
156 24,923 19,164 27,320 158,722
370 76,193 6,374 27,554 107,241
45 27,409 184 2,991 5,969
– 62
– –
... ...
... ...
2 735
... ...
– –
... ...
Claims vis-à-vis All countries Developed countries Europe
Vatican Other Other developed countries
Greece
India
Ireland
Italy
Japan
Portugal 140,609 91,453 84,777
637,495
5,632
14,396
60,007
56,823
1,303,275
415,144
6,676
Australia Canada Japan New Zealand United States
43,984 29,334 55,472 6,302 502,403
27 113 36 12 5,444
542 2,649 845 112 10,248
1,821 6,468 1,868 103 49,747
2,996 3,863 4,922 55 44,987
105,762 59,120 ... 5,638 1,132,755
80,308 45,191 20,326 7,312 262,007
282 303 42 1 6,048
Offshore centres
165,851
2,992
8,758
8,770
15,665
319,540
36,527
9,082
3 1,488 1,315 558 7,312
– – 15 – 63
– 66 728 – 7
... ... ... ... ...
... 234 289 ... 953
... 520 1,051 ... 14,720
64 497 618 71 1,688
1 888 3 47 95
Cayman Islands
57,290
403
431
...
6,137
194,967
4,644
3,713
Curacao Gibraltar Guernsey Hong Kong SAR Isle of Man
1,986 798 6,310 11,255 5,094
7 8 168 232 15
– ... ... 3,064 2
... ... ... ... ...
... 80 783 795 419
... ... 4,136 47,672 198
736 263 889 10,250 533
42 86 ... 453 214
Jersey Lebanon Macau SAR Mauritius Netherlands Antilles
27,437 326 297 1,010 ...
211 2 – – ...
357 6 4 1,120 ...
... ... ... ... ...
1,994 26 25 53 ...
8,699 197 ... ... ...
1,220 63 39 410 ...
133 ... 1,800 42 ...
Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
6,886 31 24,368 – 14 12,073
1,097 – 102 8 – 661
112 ... 2,813 ... ... 48
... ... ... ... ... ...
927 ... 1,624 ... ... 1,292
10,742 ... 34,215 ... ... ...
483 4 10,327 4 – 3,724
698 ... 21 15 ... 831
Aruba Bahamas Bahrain Barbados Bermuda
A 92
BIS Quarterly Review, September 2011
Table 9D (Cont.) End-March 2011 Germany 341,648 56,548
96,440 4,135
9,606 4,968
22,390 474
228,513 12,432
299,166 28,629
Netherlands 187,379 9,216
119 1,155 1 55 8
– – – – –
1 7 6 5 10
... ... ... ... ...
146 ... ... ... ...
78 ... ... ... ...
49 136 – 24 2
2 3,453 ... 8 ...
Burundi Cameroon Cape Verde Central African Republic Chad
– 10 – – –
– 1 – – –
– 2 ... – –
... ... ... ... ...
... 14 ... ... ...
... ... ... ... ...
1 41 – 1 –
... ... 1,268 ... ...
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
– – – 22 25
– 1 – – –
1 – ... 1 1
... ... ... ... ...
... ... ... ... ...
... ... – 10 ...
– – 40 6 –
... ... 1 ... ...
Egypt Equatorial Guinea Eritrea Ethiopia Gabon
1,190 – – – 144
878 – – – –
338 – – 18 –
... ... ... ... ...
6,226 ... ... ... 1
826 ... ... – 58
50 – – 1 3
1 ... ... ... ...
Gambia Ghana Guinea Guinea-Bissau Iran
– 330 4 – 2,017
– – – – 5
1 12 19 ... 28
... ... ... ... ...
... 90 ... ... 86
... ... ... ... –
19 254 2 – 189
... ... 1 3 ...
Iraq Israel Jordan Kenya Kuwait
886 1,778 150 93 3,140
– 9 58 – 55
6 162 18 86 95
... ... ... ... ...
8 155 16 9 234
48 1,564 93 2 596
46 367 9 157 207
... 34 1 ... 443
Lesotho Liberia Libya Madagascar Malawi
– 9,431 112 – –
– 2,818 – – –
5 2 2 3 2
... ... ... ... ...
... 1,088 8 ... ...
... 319 – ... ...
– 307 12 28 1
... 1 3 ... 2
Mali Mauritania Morocco Mozambique Namibia
17 34 236 29 118
– – 1 – –
2 – 8 2 –
... ... ... ... ...
... ... 114 – 11
... ... 14 ... ...
1 – 191 74 1
... ... 140 3,490 3
Niger Nigeria Oman Palestinian Territory Qatar
– 543 1,507 – 4,477
– – – – 1
2 44 105 ... 125
... ... ... ... ...
2 21 105 ... 1,564
– 143 1,103 ... 6,478
3 240 327 – 1,248
... 2 48 ... 1
Rwanda Sao Tomé and Principe Saudi Arabia Senegal Seychelles
16 – 9,911 1 50
– – 2 – 22
... ... 197 5 1
... ... ... ... ...
... ... 360 8 64
... ... 3,030 – ...
14 – 1,034 30 2
... 32 1 1 4
Sierra Leone Somalia South Africa St. Helena Sudan
263 – 8,404 – 1
– – 222 1 0
1 2 514 – 9
... ... ... ... ...
... ... 372 ... 3
... ... 5,532 ... ...
2 – 514 – 0
... ... 943 ... ...
11
0
87
...
...
0
98
...
Claims vis-à-vis Developing countries Africa & Middle East Algeria Angola Benin Botswana Burkina Faso
Swaziland
BIS Quarterly Review, September 2011
Greece
India
Ireland
Italy
Japan
Portugal 39,641 9,944
A 93
Table 9D (Cont.) End-March 2011 Germany
Greece
India
Ireland
Italy
Japan
Netherlands
Claims vis-à-vis Syria Tanzania Togo Tunisia Uganda
Portugal
54 19 39 315 11
1 1 – – –
13 9 7 12 30
... ... ... ... ...
... ... ... 145 –
– – ... ... ...
– 151 46 29 48
... ... ... 31 ...
9,609 34 72 107 –
57 – 2 – –
2,916 36 1 9 ...
... ... ... ... ...
... ... ... ... ...
8,658 77 – ... ...
3,076 63 70 2 –
27 ... ... ... ...
Asia & Pacific
104,632
2,795
2,520
129
19,206
186,368
52,560
673
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
6 112 773 168 –
– 1 – – –
3 – – 293 –
... ... ... ... ...
... ... 61 17 ...
... – 95 ... ...
– 15 263 169 –
... ... ... ... ...
British Overseas Territories Brunei Cambodia China Chinese Taipei
1 19 3 21,592 10,963
– – – 8 –
– 1 1 519 56
... ... ... ... ...
... ... ... 4,685 120
... ... ... 46,999 13,824
... 3 20 14,087 2,451
1 ... ... 188 ...
Fiji French Polynesia Georgia India Indonesia
3 7 107 19,155 5,582
– – 3 17 –
– ... 12 ... 283
... ... ... ... ...
... ... 7 3,258 169
– ... 28 23,508 13,766
– – 97 13,927 3,848
... ... 5 88 8
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
1,137 36 5 13 5,227
20 – – – 1
42 ... – – 75
... ... ... ... ...
6,952 ... 146 – 479
536 ... – 37 11,877
482 – 10 56 1,675
206 ... ... ... 12
Maldives Marshall Islands Micronesia Mongolia Myanmar
49 13,520 – 23 210
– 2,707 – – –
35 ... ... ... 6
... ... ... ... ...
... 1,278 ... ... ...
... ... ... ... –
51 309 – 89 –
... 57 ... ... ...
– 1 – 11 372
– – – – –
– 16 ... 1 29
... ... ... ... ...
... ... ... ... 7
... – ... – 179
– 1 – – 99
... ... ... ... 17
– – 1,893 – 18,629
– – – – 38
... – 22 ... 341
... ... ... ... ...
... ... 122 ... 1,748
... 47 3,594 ... 39,317
– – 1,582 – 12,066
... ... ... ... 7
Sri Lanka Tajikistan Thailand Timor Leste Tonga
231 3 3,433 – –
– – – – –
536 – 173 – ...
... ... ... ... ...
1 25 54 ... ...
165 – 30,025 ... ...
113 3 972 – –
... ... ... 84 ...
Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam
82 – – 112 1,154
– – – – –
– ... 23 – 53
... ... ... ... ...
... ... ... 3 68
– ... ... – 2,371
– – – – 172
... ... ... ... ...
– –
– –
– ...
... ...
... ...
... ...
– –
... ...
United Arab Emirates Yemen Zambia Zimbabwe Residual
Nauru Nepal New Caledonia North Korea Pakistan Palau Papua New Guinea Philippines Solomon Islands South Korea
Wallis/Futuna Residual
A 94
BIS Quarterly Review, September 2011
Table 9D (Cont.) End-March 2011 Germany 139,474
89,501
1,649
21,482
190,413
22,037
Netherlands 91,929
54 1,750 311 1,912 2,867
2,265 – – 14,212 197
– – – 5 2
... ... ... ... ...
1,164 296 3,629 8,474 33,543
– 44 ... 67 560
7 84 36 383 132
... ... ... 1 ...
Czech Republic Hungary Latvia
10,762 21,888 1,028
5 237 7
1 2 18
... ... ...
16,285 23,041 516
606 1,141 27
3,244 5,157 4
15 276 3
Lithuania Macedonia, FYR Moldova Montenegro Poland
1,723 203 20 180 45,859
21 1,778 – 36 8,548
– – 5 ... 28
... ... ... ... ...
524 28 170 6 47,585
278 ... – ... 4,950
18 26 15 – 38,544
1 ... 3 ... 15,365
Romania Russia Serbia
3,304 26,774 683
21,060 582 7,562
19 1,275 1
... ... ...
13,110 23,420 7,901
22 9,693 67
7,460 13,762 18
807 182 ...
Turkey Ukraine Res. Serbia & Montenegro Residual Europe
18,132 2,024 – –
31,219 1,771 1 –
240 53 – ...
... ... ... ...
4,257 6,464 ... ...
3,970 612 ... ...
20,614 2,425 – –
54 91 ... 1
40,994
9
469
305
6,462
62,132
33,674
12,225
1,933 9 25 – 19,780 5,416
– 3 – – – –
11 – ... – 83 109
... ... ... ... ... ...
492 22 3 ... 3,469 619
875 ... 76 ... 46,392 2,326
1,696 242 18 21 14,553 3,451
405 264 2 ... 9,724 249
Colombia Costa Rica Cuba Dominica Dominican Republic
772 420 207 – 574
1 – – – –
17 – 1 – 10
... ... ... ... ...
80 14 88 ... 4
1,160 32 – ... ...
46 115 61 13 96
67 14 3 ... 7
Ecuador El Salvador Falkland Islands Grenada Guatemala
95 144 6 – 237
3 – – – –
1 – ... ... 2
... ... ... ... ...
25 ... ... ... 12
24 ... ... ... ...
9 12 – 2 82
23 1 ... 1 1
Guyana Haiti Honduras Jamaica Mexico
– – 229 240 6,977
– – – – –
1 ... – – 206
... ... ... ... ...
... ... ... 10 1,163
... ... ... 40 7,967
– 12 82 60 12,301
1 ... ... 10 224
Nicaragua Paraguay Peru St. Lucia St. Vincent
1 56 1,248 26 112
– – 2 – –
– 2 15 – ...
... ... ... ... ...
2 14 239 ... 3
– ... 1,926 ... ...
71 94 307 48 6
... 8 18 1 ...
Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela
– 1,409 146 166 766
– – – – –
– 1 ... 5 5
... ... ... ... ...
... 6 ... 17 159
... 76 ... 402 836
12 85 2 166 11
... ... ... 15 863
– 31,518 43
– 44 –
... ... 544
... ... ...
... 4,930 415
... ... ...
– 2,918 –
324 433 ...
Claims vis-à-vis Europe Albania Belarus Bosnia and Herzegovina Bulgaria Croatia
Latin America/Caribbean Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil Chile
Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
Greece
India
Ireland
Italy
Japan
Portugal 16,799
A 95
Table 9D (Cont.) End-March 2011 Spain
Sweden
Switzerland
Turkey
1,491,452 952,924 717,557
807,156 717,048 650,848
1,805,130 1,490,284 602,476
23,002 19,502 14,404
United Kingdom 4,097,586 2,626,233 1,176,136
Austria Andorra Belgium Cyprus Denmark
5,153 1,814 4,261 86 1,845
1,362 2 3,242 798 184,470
11,835 24 14,520 2,056 11,307
360 – 277 ... 53
7,589 14 32,488 3,222 15,233
10,823 ... 43,115 1,233 25,972
Estonia Finland France Germany Greece
10 3,095 29,875 59,121 1,148
18,440 121,996 14,531 75,531 147
21 4,379 80,925 97,119 3,046
– 1 1,182 3,298 81
10 8,885 294,312 191,910 14,653
179 13,354 246,305 241,617 8,678
Iceland Ireland Italy Liechtenstein Luxembourg
346 10,098 35,794 2 7,285
193 2,411 1,081 18 8,415
522 13,800 21,432 ... 46,084
2 81 398 – 196
802 136,624 68,871 697 30,548
1,127 58,925 44,065 ... 25,267
Malta Netherlands Norway Portugal Slovakia
166 18,737 5,554 88,478 87
145 10,602 135,267 388 135
488 48,043 4,951 2,627 101
743 3,196 64 1 –
6,284 133,887 17,415 26,608 886
224 97,143 21,397 5,593 963
111 – 2,659 11,860 429,972
3 3,788 ... 3,345 64,476
192 24,128 13,382 ... 201,406
– 177 37 367 3,890
747 100,801 22,182 61,461 ...
249 57,918 25,111 84,545 715,374
– –
– 62
– 88
– –
... –
... ...
Claims vis-à-vis All countries Developed countries Europe
Slovenia Spain Sweden Switzerland United Kingdom Vatican Other Other developed countries
United States 3,365,851 2,304,678 1,729,177
235,367
66,200
887,808
5,098
1,450,097
575,501
Australia Canada Japan New Zealand United States
4,331 1,743 925 160 228,208
2,215 2,001 455 34 61,495
35,395 24,726 78,603 1,190 747,894
21 21 239 1 4,816
97,655 94,867 126,171 6,643 1,124,761
109,614 126,808 332,863 4,720 ...
Offshore centres
20,989
21,052
151,636
397
544,428
306,584
14 878 28 3 416
– 324 2 2 2,971
174 4,299 1,419 119 6,079
– – 179 – –
... 952 7,207 888 10,868
... 6,388 3,355 310 10,926
Cayman Islands
6,807
8,162
63,777
142
67,884
158,044
Curacao Gibraltar Guernsey Hong Kong SAR Isle of Man
125 28 930 5,866 995
1 434 364 792 131
696 356 10,020 14,462 488
2 – – 2 –
1,553 3,511 8,355 276,516 11,356
2,669 115 ... 47,599 ...
Jersey Lebanon Macau SAR Mauritius Netherlands Antilles
1,546 1 2 115 ...
1,918 5 – 4 ...
6,043 714 35 259 ...
– 6 – – ...
40,650 1,459 1,431 3,015 ...
... 561 650 895 ...
Panama Samoa Singapore Sint Maarten Vanuatu West Indies UK
2,106 – 352 7 – 770
262 – 5,179 – – 501
3,307 80 23,769 ... 16 15,524
55 – 1 – – 10
7,382 107 86,035 ... 5 15,238
2,367 96 57,299 ... 2 15,308
Aruba Bahamas Bahrain Barbados Bermuda
A 96
BIS Quarterly Review, September 2011
Table 9D (Cont.) End-March 2011 Spain
Sweden
Switzerland
Turkey
516,060 4,753
66,055 3,149
155,445 19,979
2,982 437
United Kingdom 905,425 228,386
9 206 – – –
3 1 – 1 48
35 15 1 – 1
– – – – –
64 811 ... 2,863 22
2,004 – 2 178 27
Burundi Cameroon Cape Verde Central African Republic Chad
– – 1 – –
– – – – –
– 1 – 1 –
– – – – –
– 426 – – ...
12 336 – ... 10
Comoros Islands Congo Congo Democratic Republic Côte d’Ivoire Djibouti
– 1 – 1 –
– – – – –
– 9 150 79 –
– – – – –
– ... ... 412 ...
... 18 49 148 –
177 1 – – 1
20 – – – 1
527 – – – 20
35 – – – –
9,907 ... – ... 27
2,687 ... ... – 34
– 1 4 2 14
– 3 – – 70
1 32 1 – 264
– – – – 83
... 2,550 ... ... 346
... 475 36 ... –
Iraq Israel Jordan Kenya Kuwait
– 4 1 1 217
– 94 3 3 9
33 2,439 115 126 297
29 1 2 – 34
248 5,338 1,904 1,991 3,360
9 5,668 529 747 7,546
Lesotho Liberia Libya Madagascar Malawi
– 175 – – –
– 1,848 1 – –
– 2,172 5 4 –
– 39 – – –
... 5,077 67 ... 13
– 486 1 – 5
Mali Mauritania Morocco Mozambique Namibia
– 2 972 2 105
– – 3 52 1
3 3 184 – –
– – – – –
... ... 415 351 ...
– 17 576 – 1
Niger Nigeria Oman Palestinian Territory Qatar
– 1 63 – 913
5 16 13 – 425
2 145 44 7 1,263
– – – – 26
... 3,555 3,421 ... 17,938
73 1,985 196 ... 2,604
Rwanda Sao Tomé and Principe Saudi Arabia Senegal Seychelles
6 – 329 1 –
– – 78 2 1
– – 2,358 26 88
– – 19 20 –
– – 13,914 16 357
– ... 5,230 219 3
– – 77 – 0
– – 50 – 4
– – 3,643 – 0
– – – – 39
51 ... 93,051 ... 29
... – 12,271 ... 2
2
1
0
0
10
0
Claims vis-à-vis Developing countries Africa & Middle East Algeria Angola Benin Botswana Burkina Faso
Egypt Equatorial Guinea Eritrea Ethiopia Gabon Gambia Ghana Guinea Guinea-Bissau Iran
Sierra Leone Somalia South Africa St. Helena Sudan Swaziland
BIS Quarterly Review, September 2011
United States 727,777 58,287
A 97
Table 9D (Cont.) End-March 2011 Spain
Sweden
Switzerland
Turkey
United Kingdom
Claims vis-à-vis Syria Tanzania Togo Tunisia Uganda
United States
– – – 9 –
– 1 – 13 56
25 7 1 18 1
1 – – – –
32 1,119 ... 151 516
2 243 5 433 211
1,455 – – – –
319 3 – 1 ...
5,823 4 4 2 –
109 – – – –
55,756 168 1,710 228 ...
12,862 1 343 3 –
Asia & Pacific
10,521
5,985
76,820
535
463,997
342,338
Afghanistan Armenia Azerbaijan Bangladesh Bhutan
– 1 – – –
1 – – 30 12
– 2 209 40 –
– – 309 – –
... 386 624 4,016 2
1 – 215 931 ...
– – – 8,802 183
– – – 3,710 84
– 3 – 16,755 14,254
– – – 5 1
6 1,845 8 116,052 51,115
... 1,413 2 79,282 40,006
– – – 514 7
– – 2 142 90
16 1 85 9,919 4,576
– – 33 53 –
13 ... 297 87,751 16,450
12 5 129 69,917 13,700
Kazakhstan Kiribati Kyrgyz Republic Laos Malaysia
5 – – – –
38 – – 1 19
1,613 – – 7 2,828
45 – 7 – 1
3,778 – – ... 42,613
3,402 ... ... – 18,954
Maldives Marshall Islands Micronesia Mongolia Myanmar
– 68 – – –
3 1,454 – – –
2 2,293 9 27 1
– 65 – – –
365 3,833 – 6 ...
1 ... ... 49 ...
Nauru Nepal New Caledonia North Korea Pakistan
– – – – –
1 – – – 3
– 1 1 – 3,011
– – – – –
... 266 ... – 6,266
... 7 – ... 1,314
– – 3 – 933
– – 18 – 65
– 23 2,103 – 17,242
– – – – 16
– 2 7,577 – 98,028
... 124 6,662 ... 93,364
Sri Lanka Tajikistan Thailand Timor Leste Tonga
– – 5 – –
188 – 52 – –
58 – 1,324 – –
– – – – –
3,653 – 15,482 ... –
492 ... 10,647 ... ...
Turkmenistan Tuvalu US Pacific Islands Uzbekistan Vietnam
– – – – –
– – – – 72
– – – 27 390
– – – – –
... – 16 8 3,400
... ... 9 3 1,618
Wallis/Futuna Residual
– –
– ...
– –
– –
... ...
... 79
United Arab Emirates Yemen Zambia Zimbabwe Residual
British Overseas Territories Brunei Cambodia China Chinese Taipei Fiji French Polynesia Georgia India Indonesia
Palau Papua New Guinea Philippines Solomon Islands South Korea
A 98
BIS Quarterly Review, September 2011
Table 9D (Cont.) End-March 2011 Spain
Sweden
Switzerland
Turkey
37,750
55,259
20,738
1,989
United Kingdom 61,504
– 1 – 95 68
– 9 1 6 9
4 234 2 210 719
23 12 – 14 –
10 21 ... 104 205
6 57 6 373 294
531 862 17
96 213 17,579
764 1,517 65
– 6 –
4,450 2,445 123
3,432 5,013 184
5 1 – – 12,129
16,574 – – – 10,222
346 23 146 163 2,055
– 16 – – 1
26 – 10 – 8,901
212 2 – ... 19,059
213 1,576 2
43 7,988 22
489 7,496 68
481 493 –
2,119 12,595 26
1,631 22,514 ...
22,243 7 ... –
227 2,270 – ...
4,141 2,296 ... –
– 1 – 942
29,849 617 ... ...
22,579 1,616 141 ...
463,036
1,662
37,908
21
151,538
250,033
16,409 – 76 – 191,001 62,512
3 8 – – 1,094 109
1,947 339 10 ... 24,030 1,083
– – – – 19 –
5,316 370 18 ... 84,489 4,809
6,073 21 14 ... 90,914 9,055
15,864 76 233 31 201
41 4 17 – 14
368 70 – 1 26
– – – – –
2,315 1,393 ... – 189
11,326 1,613 ... ... 910
191 35 3 – 41
– 2 – – 1
36 65 – 2 490
– – – – –
112 1,842 ... – 87
581 2,632 13 – 1,823
Guyana Haiti Honduras Jamaica Mexico
– 3 3 6 144,767
– – 1 – 330
– – 9 106 6,572
– – – – –
– ... ... 144 44,578
19 106 850 432 112,358
Nicaragua Paraguay Peru St. Lucia St. Vincent
– 1,525 14,452 – –
2 – 28 – –
1 34 685 1 88
– – – – 2
... 487 2,461 21 42
236 448 5,088 ... ...
Surinam Trinidad and Tobago Turks and Caicos Uruguay Venezuela
– 37 1 3,897 11,672
– – – 2 6
4 227 64 330 1,320
– – – – –
– 117 19 370 1,305
4 745 ... 816 2,462
– 1,443 36
... 136 2,865
– 7,765 –
– – 121
... 21,253 247
1,494 9,505 17,307
Claims vis-à-vis Europe Albania Belarus Bosnia and Herzegovina Bulgaria Croatia Czech Republic Hungary Latvia Lithuania Macedonia, FYR Moldova Montenegro Poland Romania Russia Serbia Turkey Ukraine Res. Serbia & Montenegro Residual Europe Latin America/Caribbean Argentina Belize Bolivia Bonaire, Saint Eustatius and Sa Brazil Chile Colombia Costa Rica Cuba Dominica Dominican Republic Ecuador El Salvador Falkland Islands Grenada Guatemala
Residual Int. organisations Unallocated
BIS Quarterly Review, September 2011
United States 77,119
A 99
Table 9E: Consolidated foreign claims and other potential exposures - ultimate risk basis On individual countries by nationality of reporting banks / Amounts outstanding In millions of US dollars End-March 2011 Claims vis-à-vis
Total of 24 countries
European banks
NonEuropean banks
Belgium
France
Germany
Italy
All countries All countries All countries All countries All countries All countries All countries All countries All countries
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
26,692,406 5,271,820 6,162,672 15,003,707 254,207 14,521,864 3,380,413 7,407,627 3,733,824
18,673,666 3,414,585 4,299,213 10,709,253 250,615 7,923,851 2,837,723 2,304,312 2,781,816
8,018,740 1,857,235 1,863,459 4,294,454 3,592 6,598,013 542,690 5,103,315 952,008
394,537 96,445 124,205 168,592 5,295 143,950 40,377 83,604 19,969
3,266,294 609,674 797,449 1,859,171 ... 1,663,460 334,319 669,760 659,381
3,087,270 337,933 970,747 1,778,590 – 1,370,272 462,507 569,339 338,426
942,905 147,854 187,730 606,299 1,022 655,512 58,383 119,153 477,976
Australia Australia Australia Australia Australia Australia Australia Australia Australia
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
561,327 79,580 151,610 329,611 526 275,864 79,764 124,821 71,279
305,174 20,653 71,542 212,455 524 112,170 50,541 15,426 46,203
256,153 58,927 80,068 117,156 2 163,694 29,223 109,395 25,076
2,209 3 708 1,499 –1 2,706 ... ... ...
28,430 260 9,848 18,322 ... 14,855 5,211 2,127 7,517
43,984 654 14,100 29,230 – 17,375 7,390 5,163 4,822
2,996 – 902 2,094 ... 840 73 457 310
Austria Austria Austria Austria Austria Austria Austria Austria Austria
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
282,575 58,440 109,055 114,868 212 87,584 24,908 48,282 14,394
261,760 50,455 101,592 109,501 212 54,298 18,347 23,254 12,697
20,815 7,985 7,463 5,367 – 33,286 6,561 25,028 1,697
2,586 999 1,477 108 2 459 ... ... ...
19,957 6,658 8,498 4,801 ... 6,645 1,739 2,852 2,054
90,413 19,572 57,180 13,661 – 16,398 4,227 9,244 2,927
109,554 13,653 13,908 81,979 14 16,117 1,301 9,281 5,535
Belgium Belgium Belgium Belgium Belgium Belgium Belgium Belgium Belgium
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
515,819 111,561 114,016 289,553 689 234,695 43,897 82,645 108,153
449,932 89,109 91,512 268,621 690 197,460 38,756 55,819 102,885
65,887 22,452 22,504 20,932 –1 37,235 5,141 26,826 5,268
. . . . . . . . .
224,935 51,529 40,604 132,802 ... 97,495 5,574 36,914 55,007
35,234 11,278 8,953 15,003 – 18,841 4,560 8,418 5,863
4,697 413 1,687 2,597 – 5,425 509 719 4,197
Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
517,897 194,532 78,964 243,121 1,280 208,481 16,542 87,220 104,719
373,024 129,978 50,180 191,658 1,208 133,174 7,812 35,114 90,248
144,873 64,554 28,784 51,463 72 75,307 8,730 52,106 14,471
153 1 126 26 – 14 ... ... ...
24,175 4,156 7,259 12,760 ... 10,359 541 1,651 8,167
19,780 1,585 9,791 8,404 – 13,560 2,117 10,884 559
3,469 329 2,629 512 –1 607 4 451 152
Canada Canada Canada Canada Canada Canada Canada Canada Canada
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
452,677 105,093 91,130 255,822 632 250,945 65,161 89,434 96,350
243,809 69,688 49,892 123,635 594 104,305 46,158 23,052 35,095
208,868 35,405 41,238 132,187 38 146,640 19,003 66,382 61,255
1,736 166 1,382 187 1 167 ... ... ...
31,990 10,564 5,184 16,242 ... 31,174 7,189 13,116 10,869
29,334 7,075 8,203 14,056 – 23,032 12,920 3,728 6,384
3,863 1,935 840 1,087 1 979 122 170 687
Cayman Islands Cayman Islands Cayman Islands Cayman Islands Cayman Islands Cayman Islands Cayman Islands Cayman Islands Cayman Islands
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
625,917 2,782 11,909 594,406 16,820 170,061 49,157 79,411 41,493
252,426 2,119 8,854 224,633 16,820 77,469 27,768 22,030 27,671
373,491 663 3,055 369,773 – 92,592 21,389 57,381 13,822
2,910 – 42 2,867 1 589 ... ... ...
26,603 – 792 25,811 ... 21,547 7,334 9,907 4,306
57,290 – 1,519 55,771 – 20,016 5,571 5,731 8,714
6,137 ... 640 5,489 8 1,116 – 78 1,038
China China China China China China China China China
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
425,493 52,703 205,771 166,948 71 97,685 15,963 52,466 29,256
223,063 26,992 105,028 90,991 52 49,721 11,653 22,056 16,012
202,430 25,711 100,743 75,957 19 47,964 4,310 30,410 13,244
1,299 40 636 622 1 541 ... ... ...
32,935 1,950 13,509 17,476 ... 10,620 1,356 3,911 5,353
21,592 1,438 12,128 8,026 – 9,215 1,789 5,842 1,584
4,685 56 3,879 750 – 2,288 5 2,176 107
A 100
BIS Quarterly Review, September 2011
Table 9E (Cont.)
End-March 2011 Japan
Spain
Switzerland
Turkey
United Kingdom
United States
Claims vis-à-vis
2,612,374 820,893 343,208 1,448,279 –6 330,993 33,069 71,335 226,589
1,491,452 301,673 162,545 1,027,222 12 534,918 139,968 80,341 314,609
1,805,130 361,465 456,743 802,024 184,898 841,097 445,842 178,413 216,842
23,002 – 16,118 6,616 268 2,891 2,149 742 –
4,097,586 977,086 828,500 2,292,011 –11 1,735,268 912,859 389,311 433,098
3,365,851 639,640 1,081,174 1,645,753 –716 5,685,103 358,875 4,876,286 449,942
105,762 36,623 28,564 40,575 ... 9,900 718 1,301 7,881
4,331 – 892 3,439 – 1,571 223 588 760
35,395 6,529 8,569 19,816 481 12,760 10,091 324 2,345
21 – 21 – – – – – –
97,655 9,602 24,337 63,716 ... 51,189 25,255 3,862 22,072
109,614 11,223 36,504 61,887 ... 144,407 24,624 105,901 13,882
7,459 3,640 2,296 1,522 1 343 44 21 278
5,153 464 2,329 2,360 – 695 235 180 280
11,835 2,800 6,764 2,076 195 5,493 4,418 521 554
360 – 358 2 – – – – –
7,589 1,209 4,652 1,728 ... 7,227 5,546 604 1,077
10,823 2,655 4,504 3,664 ... 32,475 6,301 24,792 1,382
Austria Austria Austria Austria Austria Austria Austria Austria Austria
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
16,289 9,396 2,398 4,496 –1 2,111 182 305 1,624
4,261 1,427 455 2,379 – 5,097 1,458 652 2,987
14,520 2,057 5,666 6,291 506 5,942 4,158 941 843
277 – 277 – – 4 1 3 –
32,488 5,258 18,425 8,805 ... 23,319 16,771 1,003 5,545
43,115 11,400 16,690 15,025 ... 33,495 4,052 26,359 3,084
Belgium Belgium Belgium Belgium Belgium Belgium Belgium Belgium Belgium
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
46,392 28,272 5,593 12,527 ... 990 3 324 663
191,001 76,664 7,596 106,741 – 76,870 2,527 13,828 60,515
24,030 11,372 4,135 7,340 1,183 1,968 816 413 739
19 – 19 – – – – – –
84,489 31,669 12,202 40,618 ... 27,607 1,292 6,797 19,518
90,914 35,421 18,733 36,760 ... 73,109 8,572 51,613 12,924
Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil Brazil
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
59,120 18,850 9,515 30,755 ... 5,475 399 887 4,189
1,743 55 306 1,382 – 1,980 904 315 761
24,726 3,636 9,915 10,655 520 9,722 5,562 1,229 2,931
21 – 21 – – 2 – 2 –
94,867 19,845 15,766 59,256 ... 27,400 14,648 4,024 8,728
126,808 15,247 25,434 86,127 ... 136,281 15,493 64,908 55,880
Canada Canada Canada Canada Canada Canada Canada Canada Canada
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
194,967 76 1,328 193,563 ... 6,424 146 5,670 608
6,807 1,030 189 5,588 – 4,472 722 198 3,552
63,777 162 2,440 44,564 16,611 14,121 8,712 2,473 2,936
142 – 13 9 120 – – – –
67,884 927 741 66,217 –1 12,290 4,219 1,933 6,138
158,044 199 1,125 156,720 ... 82,292 20,607 49,620 12,065
Cayman Islands Cayman Islands Cayman Islands Cayman Islands Cayman Islands Cayman Islands Cayman Islands Cayman Islands Cayman Islands
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
46,999 9,354 14,485 23,160 ... 4,189 152 3,395 642
8,802 – 7,911 890 1 791 30 717 44
16,755 329 5,979 10,405 42 3,377 1,473 1,424 480
5 – 2 2 1 8 – 8 –
116,052 22,521 48,161 45,371 –1 15,187 4,620 3,339 7,228
79,282 13,743 42,654 22,885 ... 23,934 2,900 18,352 2,682
China China China China China China China China China
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
BIS Quarterly Review, September 2011
All countries All countries All countries All countries All countries All countries All countries All countries All countries Australia Australia Australia Australia Australia Australia Australia Australia Australia
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
A 101
Table 9E (Cont.)
End-March 2011
Total of 24 countries
Claims vis-à-vis
European banks
NonEuropean banks
Belgium
France
Germany
Italy
Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
162,984 61,447 33,179 68,178 180 36,383 4,115 10,322 21,946
94,749 41,365 17,707 35,500 177 12,383 2,617 4,735 5,031
68,235 20,082 15,472 32,678 3 24,000 1,498 5,587 16,915
52 3 47 2 – 37 ... ... ...
15,522 9,083 2,681 3,758 ... 2,866 185 1,070 1,611
10,963 6,103 1,995 2,865 – 1,485 369 1,098 18
120 ... 55 66 –1 148 ... 116 32
Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
207,169 49,040 22,918 132,193 3,018 50,572 5,455 18,042 27,075
203,045 47,116 22,791 130,121 3,017 42,926 4,523 12,297 26,106
4,124 1,924 127 2,072 1 7,646 932 5,745 969
51,540 23,185 3,728 22,793 1,834 7,376 ... ... ...
40,864 1,457 1,568 37,839 ... 13,208 260 2,980 9,968
10,762 2,217 1,906 6,639 – 2,693 732 1,358 603
16,285 2,797 1,050 12,438 – 3,684 213 1,602 1,869
Denmark Denmark Denmark Denmark Denmark Denmark Denmark Denmark Denmark
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
324,245 15,420 118,021 154,147 36,657 117,029 37,251 26,779 52,999
284,914 8,904 105,865 133,489 36,656 84,657 32,722 7,574 44,361
39,331 6,516 12,156 20,658 1 32,372 4,529 19,205 8,638
850 112 666 72 – 161 ... ... ...
19,516 350 4,706 14,460 ... 7,569 1,266 2,225 4,078
33,985 335 16,823 16,827 – 8,170 4,026 2,728 1,416
2,667 13 1,530 1,125 –1 1,334 113 235 986
Finland Finland Finland Finland Finland Finland Finland Finland Finland
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
193,500 34,682 36,375 122,215 228 127,467 30,360 65,015 32,092
172,273 28,210 28,232 115,604 227 76,585 28,071 19,256 29,258
21,227 6,472 8,143 6,611 1 50,882 2,289 45,759 2,834
666 315 288 63 – 162 ... ... ...
9,575 2,643 2,108 4,824 ... 5,696 789 1,562 3,345
14,629 2,891 6,391 5,347 – 9,423 3,873 4,183 1,367
1,393 93 896 404 ... 1,526 63 139 1,324
France France France France France France France France France
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
1,245,845 229,067 619,777 392,266 4,735 977,864 273,780 455,538 248,546
852,552 151,167 416,483 280,168 4,734 536,936 236,320 112,920 187,696
393,293 77,900 203,294 112,098 1 440,928 37,460 342,618 60,850
55,413 5,122 46,702 3,513 76 32,559 ... ... ...
. . . . . . . . .
206,789 28,283 105,034 73,472 – 94,924 33,578 38,110 23,236
42,592 2,514 22,797 17,253 28 77,833 2,778 4,347 70,708
Germany Germany Germany Germany Germany Germany Germany Germany Germany
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
1,764,520 525,727 545,456 686,841 6,496 1,040,138 393,321 405,571 241,246
1,312,958 345,881 369,123 591,470 6,484 624,917 325,677 100,434 198,806
451,562 179,846 176,333 95,371 12 415,221 67,644 305,137 42,440
19,463 3,539 11,503 4,416 5 9,042 ... ... ...
265,692 61,599 99,781 104,312 ... 113,762 37,797 20,197 55,768
. . . . . . . . .
272,029 46,718 59,648 165,661 2 110,586 22,124 19,418 69,044
Greece Greece Greece Greece Greece Greece Greece Greece Greece
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
138,356 45,001 11,024 82,226 105 63,446 6,592 48,169 8,685
127,837 42,900 8,019 76,814 104 24,973 5,512 11,147 8,314
10,519 2,101 3,005 5,412 1 38,473 1,080 37,022 371
2,028 1,873 118 37 – 113 ... ... ...
56,942 13,401 1,636 41,905 ... 8,337 1,406 4,376 2,555
23,770 14,080 2,084 7,606 – 5,226 585 3,950 691
4,533 2,442 233 1,858 – 1,721 275 353 1,093
Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
517,727 103,601 75,248 337,256 1,622 133,943 21,669 58,433 53,841
352,438 85,916 45,188 220,518 816 54,479 10,986 19,162 24,331
165,289 17,685 30,060 116,738 806 79,464 10,683 39,271 29,510
1,365 419 419 527 – 315 ... ... ...
29,741 6,975 4,705 18,061 ... 5,634 378 1,356 3,900
11,255 590 2,131 8,534 – 5,488 1,459 2,638 1,391
795 76 67 653 –1 702 288 229 185
A 102
BIS Quarterly Review, September 2011
Table 9E (Cont.)
End-March 2011 Japan
Spain
Switzerland
United Kingdom
Turkey
United States
13,824 1,404 2,196 10,225 –1 2,496 103 1,496 897
183 91 3 89 – 99 8 91 –
14,254 1,906 7,061 5,110 177 2,195 788 1,225 182
1 – – 1 – – – – –
51,115 23,721 4,740 22,654 ... 4,891 862 882 3,147
40,006 13,631 11,498 14,877 ... 18,298 874 2,692 14,732
606 172 68 365 1 105 – 105 –
531 32 86 413 – 61 – 13 48
764 13 273 474 4 147 38 10 99
– – – – – – – – –
4,450 1,722 77 2,651 ... 1,093 394 386 313
3,432 1,752 45 1,635 ... 7,511 912 5,631 968
8,608 4,024 1,503 3,081 ... 1,329 25 96 1,208
1,845 – 582 1,263 – 1,145 519 64 562
11,307 899 7,264 3,058 86 3,879 3,073 570 236
53 – 52 1 – 3 3 – –
15,233 1,964 6,717 6,553 –1 9,599 7,390 380 1,829
4,761 2,039 258 2,464 ... 1,184 14 4 1,166
3,095 334 604 2,156 1 1,513 769 293 451
4,379 2,301 663 1,383 32 5,789 5,086 184 519
1 – 1 – – 1 – 1 –
97,912 37,745 25,703 34,464 ... 20,941 1,775 639 18,527
29,875 6,383 9,627 13,864 1 40,273 13,636 3,680 22,957
80,925 24,057 22,548 30,473 3,847 47,026 31,081 7,526 8,419
156,866 97,289 27,063 32,515 –1 13,893 3,239 1,579 9,075
59,121 4,798 5,773 48,551 –1 26,216 15,020 832 10,364
1,262 164 269 828 1 56 – – 56 47,672 5,504 5,985 36,183 ... 11,649 415 3,277 7,957
Claims vis-à-vis Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei Chinese Taipei
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic Czech Republic
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
25,972 1,087 8,662 16,223 ... 30,464 4,098 19,025 7,341
Denmark Denmark Denmark Denmark Denmark Denmark Denmark Denmark Denmark
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
8,885 3,636 3,103 2,146 ... 12,798 9,669 670 2,459
13,354 3,288 7,270 2,796 ... 49,325 2,037 45,687 1,601
Finland Finland Finland Finland Finland Finland Finland Finland Finland
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
1,182 – 1,029 151 2 138 128 10 –
294,312 45,809 151,602 96,901 ... 186,036 101,088 32,833 52,115
246,305 26,394 152,222 67,689 ... 396,572 25,220 332,447 38,905
France France France France France France France France France
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
97,119 30,846 29,933 30,922 5,418 48,899 30,698 7,227 10,974
3,298 – 3,209 87 2 109 75 34 –
191,910 68,604 56,504 66,802 ... 197,501 130,406 37,443 29,652
241,617 67,863 123,553 50,201 ... 381,217 52,082 299,528 29,607
Germany Germany Germany Germany Germany Germany Germany Germany Germany
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
1,148 502 16 630 – 361 84 27 250
3,046 529 622 1,834 61 1,428 443 128 857
81 – 74 7 – 2 – 2 –
14,653 3,961 2,324 8,368 ... 4,588 2,278 898 1,412
8,678 1,936 2,662 4,080 ... 38,353 1,048 37,001 304
Greece Greece Greece Greece Greece Greece Greece Greece Greece
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
5,866 1,175 2,647 2,045 –1 902 86 548 268
14,462 2,177 2,545 8,934 806 3,588 1,848 743 997
2 – – 2 – – – – –
276,516 72,800 30,350 173,366 ... 31,199 4,862 9,717 16,620
47,599 9,225 12,916 25,458 ... 35,993 2,002 30,724 3,267
Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR Hong Kong SAR
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
BIS Quarterly Review, September 2011
A 103
Table 9E (Cont.)
End-March 2011
Total of 24 countries
Claims vis-à-vis
European banks
NonEuropean banks
Belgium
France
Germany
Italy
India India India India India India India India India
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
281,620 28,260 75,031 178,149 180 95,865 14,947 36,297 44,621
157,413 12,617 37,804 106,818 174 38,932 12,691 18,051 8,190
124,207 15,643 37,227 71,331 6 56,933 2,256 18,246 36,431
515 36 240 239 – 148 ... ... ...
20,322 1,329 5,520 13,473 ... 5,251 1,165 2,948 1,138
19,155 860 7,065 11,230 – 7,688 1,341 4,433 1,914
3,258 1 1,578 1,678 1 1,351 ... 1,268 83
Ireland Ireland Ireland Ireland Ireland Ireland Ireland Ireland Ireland
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
473,047 18,248 78,905 374,701 1,193 208,128 79,270 93,787 35,071
378,359 14,531 60,613 302,021 1,194 141,849 69,111 42,704 30,034
94,688 3,717 18,292 72,680 –1 66,279 10,159 51,083 5,037
25,986 695 773 24,357 161 2,248 ... ... ...
30,101 2,855 8,434 18,812 ... 25,315 4,986 17,690 2,639
116,527 3,191 25,065 88,271 – 38,821 15,612 16,349 6,860
13,419 588 2,318 10,513 – 12,411 674 3,272 8,465
Italy Italy Italy Italy Italy Italy Italy Italy Italy
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
912,110 281,635 166,039 463,408 1,028 480,195 78,342 312,004 89,849
819,185 233,491 144,649 440,017 1,028 225,036 59,486 86,698 78,852
92,925 48,144 21,390 23,391 – 255,159 18,856 225,306 10,997
24,873 17,294 5,378 2,128 73 2,716 ... ... ...
410,238 105,045 49,088 256,105 ... 85,638 14,275 22,709 48,654
164,932 50,982 52,516 61,434 – 61,581 8,932 46,626 6,023
. . . . . . . . .
Japan Japan Japan Japan Japan Japan Japan Japan Japan
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
794,702 297,176 249,448 244,820 3,258 381,497 110,238 209,389 61,870
438,100 189,212 116,827 128,805 3,256 163,248 79,896 50,597 32,755
356,602 107,964 132,621 116,015 2 218,249 30,342 158,792 29,115
888 567 39 283 –1 28 ... ... ...
146,518 73,276 36,726 36,516 ... 59,966 7,644 27,901 24,421
55,472 5,142 11,850 38,480 – 20,597 13,278 6,872 447
4,922 1,312 273 3,338 –1 724 109 178 437
Luxembourg Luxembourg Luxembourg Luxembourg Luxembourg Luxembourg Luxembourg Luxembourg Luxembourg
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
539,482 20,324 140,386 374,173 4,599 266,297 39,006 171,062 56,229
429,502 18,118 130,975 275,810 4,599 161,953 33,022 81,473 47,458
109,980 2,206 9,411 98,363 – 104,344 5,984 89,589 8,771
9,832 407 5,745 3,279 401 2,389 ... ... ...
99,592 4,477 29,334 65,781 ... 44,657 5,177 20,730 18,750
171,676 683 53,508 117,485 – 62,154 14,325 40,968 6,861
26,549 575 5,744 20,014 216 19,343 1,157 13,525 4,661
Mexico Mexico Mexico Mexico Mexico Mexico Mexico Mexico Mexico
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
365,514 149,805 33,280 182,355 74 129,090 13,884 61,805 53,401
225,446 91,300 23,201 110,909 36 63,453 11,456 11,150 40,847
140,068 58,505 10,079 71,446 38 65,637 2,428 50,655 12,554
164 156 2 6 – 476 ... ... ...
8,063 2,305 293 5,465 ... 2,256 581 327 1,348
6,977 489 1,628 4,860 – 3,915 1,550 1,969 396
1,163 25 120 1,019 –1 228 15 24 189
Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
789,627 87,241 214,403 485,741 2,242 556,397 126,756 339,007 90,634
614,786 64,801 161,518 386,224 2,243 274,180 115,084 89,420 69,676
174,841 22,440 52,885 99,517 –1 282,217 11,672 249,587 20,958
24,300 638 2,270 21,374 18 21,528 ... ... ...
135,750 22,757 29,593 83,400 ... 37,059 9,900 8,460 18,699
167,245 8,949 53,129 105,167 – 66,922 19,732 31,392 15,798
25,687 501 6,113 19,072 1 12,898 737 2,371 9,790
New Zealand New Zealand New Zealand New Zealand New Zealand New Zealand New Zealand New Zealand New Zealand
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
274,269 17,081 15,746 241,017 425 55,053 9,360 10,069 35,624
22,919 817 6,326 15,772 4 6,161 3,115 717 2,329
251,350 16,264 9,420 225,245 421 48,892 6,245 9,352 33,295
11 – 7 5 –1 – ... ... ...
961 56 140 765 ... 371 85 40 246
6,302 103 4,339 1,860 – 1,360 510 455 395
55 – 19 36 ... 11 7 4 –
A 104
BIS Quarterly Review, September 2011
Table 9E (Cont.)
End-March 2011 Japan
Spain
Switzerland
United Kingdom
Turkey
United States
23,508 1,814 4,921 16,774 –1 951 36 449 466
514 – 179 335 – 292 – 291 1
9,919 1,287 3,819 4,642 171 2,775 358 936 1,481
53 – 42 11 – 4 – 4 –
87,751 9,052 16,105 62,594 ... 17,409 9,663 4,519 3,227
69,917 12,851 22,956 34,110 ... 19,909 2,120 15,239 2,550
Claims vis-à-vis India India India India India India India India India
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
21,308 1,097 2,151 18,061 –1 1,364 650 108 606
10,098 157 963 8,978 – 3,550 2,228 575 747
13,800 111 2,780 9,932 977 6,043 4,116 329 1,598
81 – 50 31 – 8 8 – –
136,624 4,577 14,910 117,138 –1 47,615 37,969 2,291 7,355
58,925 1,741 14,539 42,645 ... 59,670 7,993 48,757 2,920
Ireland Ireland Ireland Ireland Ireland Ireland Ireland Ireland Ireland
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
41,000 29,772 3,347 7,882 –1 6,087 44 1,641 4,402
35,794 10,699 3,609 21,486 – 17,814 2,489 6,833 8,492
21,432 5,201 7,318 8,452 461 14,955 11,390 710 2,855
398 – 369 29 – 11 – 11 –
68,871 12,734 9,188 46,949 ... 30,008 16,556 5,918 7,534
44,065 14,380 16,121 13,564 ... 248,042 18,600 222,864 6,578
Italy Italy Italy Italy Italy Italy Italy Italy Italy
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
. . . . . . . . .
925 84 312 528 1 384 188 153 43
78,603 45,102 9,810 20,476 3,215 32,281 18,886 12,279 1,116
239 – 223 16 – – – – –
126,171 53,114 48,438 24,619 ... 46,892 38,321 2,967 5,604
332,863 100,325 127,782 104,756 ... 211,282 27,461 157,087 26,734
Japan Japan Japan Japan Japan Japan Japan Japan Japan
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
42,377 228 2,112 40,037 ... 2,373 64 420 1,889
7,285 – 1,473 5,811 1 3,565 644 410 2,511
46,084 5,423 11,751 25,078 3,832 11,691 4,021 2,119 5,551
196 – 111 84 1 – – – –
30,548 4,423 11,266 14,860 –1 9,884 4,876 986 4,022
25,267 1,500 2,824 20,943 ... 99,743 4,594 89,085 6,064
Luxembourg Luxembourg Luxembourg Luxembourg Luxembourg Luxembourg Luxembourg Luxembourg Luxembourg
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
7,967 5,284 474 2,210 –1 506 32 94 380
144,767 55,043 15,989 73,735 – 43,726 5,975 3,098 34,653
6,572 2,044 825 3,667 36 3,047 921 208 1,918
– – – – – – – – –
44,578 23,365 2,661 18,552 ... 8,262 1,712 4,674 1,876
112,358 48,869 8,383 55,106 ... 64,580 2,287 50,540 11,753
Mexico Mexico Mexico Mexico Mexico Mexico Mexico Mexico Mexico
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
47,613 9,402 11,422 26,789 ... 6,616 463 1,755 4,398
18,737 1,136 1,645 15,956 – 10,394 4,786 1,161 4,447
48,043 5,530 17,115 23,469 1,929 23,274 9,284 9,871 4,119
3,196 – 1,427 1,764 5 19 14 5 –
133,887 22,705 37,725 73,457 ... 93,673 67,175 14,272 12,226
97,143 5,473 26,729 64,941 ... 268,406 9,068 245,912 13,426
Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands Netherlands
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
5,638 3,132 462 2,045 –1 614 64 3 547
160 – 51 109 – 6 – – 6
1,190 12 464 711 3 1,292 1,017 29 246
1 – – 1 – – – – –
6,643 641 984 5,017 1 2,555 1,468 159 928
4,720 1,970 819 1,931 ... 7,875 737 5,970 1,168
New Zealand New Zealand New Zealand New Zealand New Zealand New Zealand New Zealand New Zealand New Zealand
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
BIS Quarterly Review, September 2011
A 105
Table 9E (Cont.)
End-March 2011
Total of 24 countries
Claims vis-à-vis
European banks
NonEuropean banks
Belgium
France
Germany
Italy
Norway Norway Norway Norway Norway Norway Norway Norway Norway
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
260,055 43,444 50,463 165,998 150 87,434 18,263 34,305 34,866
222,348 21,374 42,810 158,014 150 61,585 15,653 14,483 31,449
37,707 22,070 7,653 7,984 – 25,849 2,610 19,822 3,417
344 9 206 129 – 80 ... ... ...
18,901 1,592 3,707 13,602 ... 5,040 896 1,534 2,610
28,457 3,321 13,312 11,824 – 5,763 1,169 2,471 2,123
2,694 2 1,088 1,604 – 1,299 56 257 986
Poland Poland Poland Poland Poland Poland Poland Poland Poland
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
298,975 91,524 32,144 174,451 856 67,500 3,996 30,528 32,976
274,774 75,275 30,458 168,186 855 46,919 3,540 14,403 28,976
24,201 16,249 1,686 6,265 1 20,581 456 16,125 4,000
19,170 8,163 645 10,020 342 2,267 ... ... ...
26,834 3,843 3,644 19,347 ... 4,225 572 1,161 2,492
45,859 16,811 8,915 20,133 – 11,700 1,338 4,850 5,512
47,585 17,134 1,255 29,196 – 9,545 332 2,008 7,205
Portugal Portugal Portugal Portugal Portugal Portugal Portugal Portugal Portugal
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
212,704 35,279 43,848 133,554 23 100,677 9,496 68,250 22,931
204,596 32,911 40,757 130,905 23 50,453 7,763 20,547 22,143
8,108 2,368 3,091 2,649 – 50,224 1,733 47,703 788
3,616 2,288 918 410 – 89 ... ... ...
28,349 8,611 6,273 13,465 ... 5,657 2,115 426 3,116
38,862 8,799 15,913 14,150 – 12,491 742 11,623 126
4,331 612 2,046 1,673 ... 3,418 31 1,264 2,123
Russia Russia Russia Russia Russia Russia Russia Russia Russia
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
191,246 19,624 46,531 123,834 1,257 112,857 4,356 85,714 22,787
155,847 12,151 37,523 104,915 1,258 49,693 3,104 25,801 20,788
35,399 7,473 9,008 18,919 –1 63,164 1,252 59,913 1,999
4,341 51 300 3,463 527 357 ... ... ...
39,793 2,060 4,923 32,810 ... 13,883 656 5,387 7,840
26,774 2,212 9,571 14,991 – 8,793 298 6,162 2,333
23,420 1,791 2,468 19,158 3 7,312 360 4,351 2,601
Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
295,752 60,102 55,025 178,872 1,753 102,105 21,872 47,409 32,824
178,159 34,623 29,344 112,449 1,743 57,304 17,089 24,488 15,727
117,593 25,479 25,681 66,423 10 44,801 4,783 22,921 17,097
537 27 146 363 1 167 ... ... ...
22,546 5,566 3,512 13,468 ... 12,978 1,298 4,627 7,053
24,368 2,596 7,901 13,871 – 6,933 1,416 2,633 2,884
1,624 40 87 1,497 ... 546 168 121 257
Spain Spain Spain Spain Spain Spain Spain Spain Spain
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
726,198 109,370 216,699 399,918 211 311,575 47,449 196,476 67,650
637,096 90,269 185,763 360,853 211 152,288 40,598 55,784 55,906
89,102 19,101 30,936 39,065 – 159,287 6,851 140,692 11,744
22,249 3,793 10,527 7,929 – 771 ... ... ...
146,085 32,581 36,473 77,031 ... 37,658 7,167 7,693 22,798
177,859 29,389 69,149 79,321 – 45,771 7,209 34,427 4,135
31,762 5,798 8,842 17,119 3 15,344 754 3,064 11,526
South Korea South Korea South Korea South Korea South Korea South Korea South Korea South Korea South Korea
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
338,535 85,607 88,348 164,319 261 106,619 15,599 69,046 21,974
182,897 41,186 53,518 87,933 260 33,138 12,003 15,768 5,367
155,638 44,421 34,830 76,386 1 73,481 3,596 53,278 16,607
401 116 162 123 – 174 ... ... ...
32,025 9,395 7,916 14,714 ... 9,627 1,055 5,224 3,348
18,629 1,086 12,453 5,090 – 4,728 1,122 3,569 37
1,748 – 1,405 343 ... 379 6 353 20
Sweden Sweden Sweden Sweden Sweden Sweden Sweden Sweden Sweden
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
166,586 20,946 69,995 74,990 655 145,906 20,869 92,639 32,398
117,793 8,566 52,262 56,311 654 61,073 18,958 16,199 25,916
48,793 12,380 17,733 18,679 1 84,833 1,911 76,440 6,482
1,408 72 1,206 129 1 144 ... ... ...
14,131 421 5,298 8,412 ... 16,032 5,997 3,172 6,863
34,569 600 18,979 14,990 – 13,277 2,060 8,680 2,537
2,937 17 1,272 1,648 ... 2,907 115 489 2,303
A 106
BIS Quarterly Review, September 2011
Table 9E (Cont.)
End-March 2011 Japan
Spain
Switzerland
United Kingdom
Turkey
United States
12,162 7,052 2,506 2,604 ... 623 110 13 500
5,554 – 112 5,443 –1 1,981 28 58 1,895
4,951 325 3,029 1,573 24 3,039 2,409 200 430
64 – 61 3 – – – – –
17,415 7,045 4,339 6,030 1 6,949 4,222 441 2,286
21,397 14,774 2,949 3,674 ... 24,663 2,166 19,654 2,843
Claims vis-à-vis Norway Norway Norway Norway Norway Norway Norway Norway Norway
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
4,950 3,931 109 910 ... 1,163 4 683 476
12,129 608 5,798 5,723 – 371 3 18 350
2,055 274 1,162 587 32 538 48 15 475
1 – – 1 – – – – –
8,901 5,352 583 2,966 ... 1,027 335 532 160
19,059 12,239 1,555 5,265 ... 19,333 400 15,428 3,505
Poland Poland Poland Poland Poland Poland Poland Poland Poland
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
2,130 1,092 248 790 ... 591 – 110 481
88,478 7,250 7,080 74,147 1 20,923 1,931 4,424 14,568
2,627 832 625 1,149 21 979 553 66 360
1 – 1 – – – – – –
26,608 1,805 5,359 19,444 ... 4,662 2,315 709 1,638
5,593 1,269 2,628 1,696 ... 49,399 1,635 47,509 255
Portugal Portugal Portugal Portugal Portugal Portugal Portugal Portugal Portugal
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
9,693 2,005 1,758 5,931 –1 1,509 60 410 1,039
1,576 – 307 1,269 – 299 – 162 137
7,496 786 2,285 4,238 187 2,315 111 186 2,018
493 – 143 349 1 1 – 1 –
12,595 2,621 4,722 5,251 1 3,538 1,036 1,542 960
22,514 5,303 6,163 11,048 ... 61,407 1,167 59,382 858
Russia Russia Russia Russia Russia Russia Russia Russia Russia
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
34,215 5,346 4,504 24,365 ... 9,709 500 4,434 4,775
352 11 24 317 – 491 20 436 35
23,769 4,965 3,225 14,022 1,557 7,280 2,660 3,803 817
1 – – 1 – 5 – 5 –
86,035 20,137 10,888 55,010 ... 17,433 7,412 6,627 3,394
57,299 13,862 17,034 26,403 ... 27,850 2,633 16,049 9,168
Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore Singapore
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
24,923 10,352 4,133 10,439 –1 3,860 246 428 3,186
. . . . . . . . .
24,128 1,485 9,884 12,577 182 7,833 3,780 578 3,475
177 – 33 144 – 6 – 6 –
100,801 8,629 14,974 77,199 –1 30,185 16,496 4,767 8,922
57,918 6,060 24,696 27,162 ... 154,564 6,198 139,942 8,424
Spain Spain Spain Spain Spain Spain Spain Spain Spain
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
39,317 6,171 9,065 24,081 ... 3,440 487 1,785 1,168
933 133 254 545 1 835 422 340 73
17,242 5,928 4,735 6,324 255 2,563 1,820 575 168
16 – 16 – – 80 – 80 –
98,028 22,129 19,892 56,007 ... 10,001 4,796 3,884 1,321
93,364 33,549 15,855 43,960 ... 65,619 2,340 48,475 14,804
South Korea South Korea South Korea South Korea South Korea South Korea South Korea South Korea South Korea
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
19,164 7,740 3,300 8,124 ... 1,325 25 66 1,234
2,659 – 676 1,983 – 1,195 81 108 1,006
13,382 1,920 6,282 5,036 144 4,475 2,232 1,388 855
37 – 33 – 4 – – – –
22,182 3,472 8,674 10,036 ... 13,757 6,398 1,032 6,327
25,111 2,732 12,552 9,827 ... 82,710 1,578 75,975 5,157
Sweden Sweden Sweden Sweden Sweden Sweden Sweden Sweden Sweden
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
BIS Quarterly Review, September 2011
A 107
Table 9E (Cont.)
End-March 2011
Total of 24 countries
Claims vis-à-vis
European banks
NonEuropean banks
Belgium
France
Germany
Italy
Switzerland Switzerland Switzerland Switzerland Switzerland Switzerland Switzerland Switzerland Switzerland
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
396,087 62,791 152,450 180,536 310 339,906 98,124 161,704 80,078
266,093 56,051 81,927 127,812 303 223,300 79,089 80,221 63,990
129,994 6,740 70,523 52,724 7 116,606 19,035 81,483 16,088
1,812 18 1,016 757 21 3,094 ... ... ...
62,672 4,361 18,318 39,993 ... 46,142 4,081 19,346 22,715
58,543 7,368 25,086 26,089 – 43,580 13,998 21,414 8,168
11,444 107 3,065 8,209 63 12,997 777 4,165 8,055
Turkey Turkey Turkey Turkey Turkey Turkey Turkey Turkey Turkey
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
191,229 42,121 48,689 100,265 154 114,105 3,241 87,999 22,865
162,013 34,038 32,808 95,014 153 53,820 2,434 29,013 22,373
29,216 8,083 15,881 5,251 1 60,285 807 58,986 492
2,375 43 2,114 218 – 780 ... ... ...
27,075 5,208 7,585 14,282 ... 9,855 574 5,429 3,852
18,132 3,081 5,220 9,831 – 8,896 486 6,978 1,432
4,257 487 1,356 2,408 6 4,191 129 3,498 564
United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
3,033,214 217,360 938,213 1,854,939 22,702 2,812,327 695,723 1,575,144 541,460
1,925,495 91,221 612,710 1,199,053 22,511 1,308,326 584,121 322,944 401,261
1,107,719 126,139 325,503 655,886 191 1,504,001 111,602 1,252,200 140,199
36,109 595 12,616 22,723 175 20,729 ... ... ...
295,218 14,648 167,394 113,176 ... 330,870 58,684 196,768 75,418
519,866 5,361 171,985 342,520 – 239,467 140,502 44,333 54,632
48,096 511 17,442 30,140 3 190,980 19,278 4,279 167,423
United States United States United States United States United States United States United States United States United States
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
5,582,971 1,367,450 882,661 3,223,374 109,486 2,271,703 774,854 638,657 858,192
3,737,550 752,570 686,485 2,189,164 109,331 1,939,222 723,294 568,868 647,060
1,845,421 614,880 196,176 1,034,210 155 332,481 51,560 69,789 211,132
38,898 13,187 9,544 16,106 61 21,177 ... ... ...
596,882 93,778 122,129 380,975 ... 445,544 124,561 158,442 162,541
502,403 26,148 118,675 357,580 – 360,469 111,650 119,278 129,541
44,987 10,350 10,561 24,076 – 92,739 3,657 13,122 75,960
A 108
BIS Quarterly Review, September 2011
Table 9E (Cont.)
End-March 2011 Japan
Spain
Switzerland
United Kingdom
Turkey
United States
27,320 794 7,194 19,332 ... 6,307 948 1,327 4,032
11,860 5,663 1,501 4,696 – 8,740 1,968 1,219 5,553
. . . . . . . . .
367 – 330 37 – 609 492 117 –
61,461 23,163 16,434 21,863 1 69,638 43,445 16,000 10,193
84,545 5,625 52,416 26,504 ... 97,607 10,275 77,283 10,049
Claims vis-à-vis Switzerland Switzerland Switzerland Switzerland Switzerland Switzerland Switzerland Switzerland Switzerland
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
3,970 1,938 1,262 771 –1 88 – 83 5
22,243 6,357 2,042 13,844 – 7,059 67 2,967 4,025
4,141 604 2,251 1,258 28 2,472 187 318 1,967
. . . . . . . . .
29,849 5,628 8,257 15,964 ... 6,758 593 1,000 5,165
22,579 6,132 12,507 3,940 ... 60,049 803 58,760 486
Turkey Turkey Turkey Turkey Turkey Turkey Turkey Turkey Turkey
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
158,722 37,361 43,310 78,051 ... 29,072 6,758 6,696 15,618
429,972 34,185 57,968 337,819 – 133,961 59,301 12,668 61,992
201,406 22,370 76,040 81,354 21,642 213,389 145,585 41,802 26,002
3,890 – 2,735 1,148 7 1,561 1,339 222 –
. . . . . . . . .
715,374 58,431 205,800 451,143 ... 1,356,554 65,910 1,202,875 87,769
United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom United Kingdom
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
1,132,755 400,774 93,505 638,476 ... 155,048 12,035 23,969 119,044
228,208 54,752 15,893 157,564 –1 77,792 14,712 12,784 50,296
747,894 150,875 153,803 334,214 109,002 274,579 117,456 67,254 89,869
4,816 – 4,232 582 2 283 82 201 –
1,124,761 315,652 160,656 648,454 –1 530,683 286,224 155,374 89,085
. . . . . . . . .
United States United States United States United States United States United States United States United States United States
Foreign claims Public sector Banks Non-bank private sector Unallocated by sector Other potential exposures Derivatives contracts Guarantees extended Credit commitments
BIS Quarterly Review, September 2011
A 109
Table 10: Signed international syndicated credit facilities By nationality of borrower In billions of US dollars Countries
2008
2009
1,471.0
1,022.6
1,723.7
291.8
223.9
307.9
256.4
449.1
398.7
619.5
567.6
670.2
1,100.3 51.9 9.7 11.7 40.7 16.4 7.9 76.4 48.7 13.7 0.8 2.9 23.5 46.8 2.1 40.7 8.1 20.8 10.6 2.5 77.3 17.8 15.5 123.3 427.2
793.0 43.8 1.8 8.1 34.7 8.0 9.6 35.6 76.4 2.6 2.5 8.2 29.3 41.0 5.0 27.7 3.6 6.4 3.8 1.3 82.7 8.8 27.6 66.3 255.3
1,398.8 59.8 6.2 9.4 55.7 11.6 7.9 108.6 88.6 5.6 0.3 5.4 41.8 39.1 10.6 51.9 10.4 18.0 7.3 1.4 90.2 14.5 30.3 125.3 596.5
250.7 7.2 1.0 2.2 7.0 0.1 6.4 2.4 24.5 0.2 – 0.5 19.8 6.3 4.0 6.8 1.0 1.1 0.3 0.7 48.9 – 10.6 24.8 73.7
164.6 11.0 – 1.7 10.9 0.4 0.4 7.5 10.7 1.5 2.5 0.1 4.6 12.1 – 12.4 0.7 0.9 0.6 0.2 8.3 0.5 0.9 13.8 61.2
224.0 14.7 0.7 4.2 13.5 0.4 1.6 6.7 23.2 0.9 – 7.2 3.1 7.3 1.0 5.9 1.4 1.4 – 0.0 14.6 2.8 15.2 11.5 86.3
200.5 3.8 0.1 3.9 3.4 1.0 0.4 8.0 11.2 0.6 – 0.0 5.0 14.5 3.5 10.7 1.1 2.6 0.6 – 21.1 3.6 1.2 14.3 89.6
365.0 13.2 3.0 0.9 22.5 1.0 0.7 35.2 28.5 0.4 – 0.6 18.2 4.8 4.1 10.4 2.9 4.2 2.4 0.6 23.4 2.9 12.1 25.4 146.4
312.1 9.1 – 1.4 17.6 7.1 0.3 24.8 8.8 3.6 0.3 3.9 7.8 12.9 1.0 8.3 1.4 3.6 – 0.4 36.5 1.7 5.1 27.2 128.8
521.2 33.7 3.0 3.2 12.2 2.5 6.5 40.6 40.2 1.0 – 0.9 10.7 6.8 2.0 22.5 4.9 7.7 4.3 0.5 9.1 6.3 12.0 58.4 231.8
481.3 14.5 0.3 3.7 9.7 0.2 6.4 49.7 16.2 1.6 0.8 3.4 7.2 30.1 8.1 13.7 1.3 6.3 1.7 0.3 4.2 14.5 1.9 41.7 243.4
554.7 15.2 – 3.9 25.4 2.9 4.0 50.9 22.9 0.8 – 1.9 10.5 6.3 1.3 16.5 1.6 9.8 0.4 – 19.1 10.6 14.6 37.8 296.7
Offshore Centres Bahrain Bermuda Cayman Islands Hong Kong SAR Macao SAR Singapore
51.9 2.6 5.8 – 15.9 – 23.7
33.5 1.9 3.2 0.1 12.8 0.1 14.5
53.4 1.7 – – 31.8 2.7 16.0
5.4 1.3 – – 0.9 0.0 3.0
7.2 – 0.2 0.1 3.5 – 3.1
12.4 0.6 0.3 – 7.5 – 3.7
8.5 0.8 – – 7.0 – 0.4
15.9 0.1 – – 10.1 1.8 3.6
11.6 0.4 – – 4.3 1.0 5.7
17.4 0.5 – – 10.4 – 6.2
15.9 0.3 – – 8.9 – 6.7
23.3 0.0 – – 12.1 1.2 9.4
Developing Countries
All Countries Developed Countries Australia Austria Belgium Canada Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Slovenia Spain Sweden Switzerland United Kingdom United States
2010 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011
317.6
195.1
271.5
35.7
51.6
71.0
47.4
68.2
75.0
80.9
70.4
92.2
Africa & Middle East Egypt Israel Kuwait Liberia Oman Qatar Saudi Arabia South Africa United Arab Emirates
89.9 6.5 0.5 4.4 1.0 1.0 11.6 12.5 4.2 34.6
53.9 1.7 0.3 3.8 – 0.5 3.2 4.5 8.4 24.9
67.4 4.9 1.4 3.3 – 2.0 4.5 16.1 8.2 19.8
15.3 0.1 – 0.3 – – 0.9 1.2 1.8 8.9
15.9 0.4 – 2.5 – – 1.2 2.3 2.1 3.6
13.7 1.2 0.3 0.3 – 0.5 0.2 1.0 2.5 7.3
13.7 0.5 0.3 1.8 – 1.1 2.2 0.2 0.8 4.3
23.1 0.5 0.4 0.6 – – 2.3 7.7 4.6 4.4
13.6 3.3 0.2 0.5 – 0.9 – 0.7 0.5 5.7
17.0 0.6 0.4 0.4 – – 0.1 7.5 2.3 5.3
12.9 – 2.2 1.5 – 0.3 – 2.5 2.8 2.1
24.4 0.8 5.8 0.2 – – 0.4 3.5 5.9 2.8
Asia & Pacific China Chinese Taipei India Indonesia Kazakhstan Malaysia South Korea Thailand Vietnam
98.9 17.7 13.4 18.7 6.2 7.0 11.9 14.8 1.9 2.2
67.8 13.1 8.2 13.1 3.9 0.3 9.4 9.8 0.7 1.3
113.5 18.3 11.2 33.6 7.7 0.2 10.8 15.1 4.1 3.6
12.2 0.8 2.5 4.1 0.6 0.2 1.0 2.3 – 0.1
14.2 1.7 1.4 1.9 0.9 – 4.9 2.0 0.3 –
24.0 2.6 3.8 3.5 2.1 0.0 2.0 3.5 0.3 0.7
16.3 4.1 1.6 3.0 2.1 0.2 1.7 – 0.8 0.9
25.5 4.5 3.7 5.2 1.4 – 3.3 5.4 1.0 0.2
33.5 5.1 2.3 6.4 1.9 – 4.7 5.8 0.7 1.5
38.2 4.7 3.7 19.0 2.2 – 1.1 4.0 1.5 1.0
37.9 7.3 4.6 8.4 1.0 1.0 9.0 2.9 2.2 0.1
31.4 8.7 4.2 6.5 2.6 0.1 3.7 2.0 1.3 1.0
Europe Bulgaria Croatia Czech Republic Hungary Latvia Poland Russia Turkey Ukraine
85.6 0.2 1.4 1.6 2.9 0.7 2.9 57.5 14.4 2.8
38.4 0.0 1.6 1.2 1.4 – 1.5 21.8 10.3 0.2
56.1 0.0 1.0 0.9 1.1 0.1 3.6 33.3 14.3 1.1
4.0 0.0 0.2 – 0.3 – 0.7 0.3 2.4 –
11.9 – 0.0 0.5 – – – 6.4 4.6 0.2
17.1 – 0.4 – 1.1 – 0.8 13.2 1.5 –
13.0 0.0 0.2 0.1 0.1 0.1 0.6 8.8 2.9 0.0
11.5 – 0.5 0.3 – – 1.8 4.8 4.0 –
18.0 0.0 0.3 0.1 1.0 – 0.4 9.5 5.7 1.1
13.5 – – 0.3 – – 0.9 10.1 1.7 –
14.3 – 0.5 – – – 2.9 6.5 4.2 –
21.3 – 0.1 – 1.9 – 4.7 7.9 6.7 0.0
Latin America & Caribbean Argentina Brazil Chile Mexico Peru Venezuela
43.2 1.8 19.0 3.7 11.8 3.1 2.1
35.0 0.4 22.4 1.5 9.1 0.2 –
34.5 0.4 16.4 2.2 10.2 0.6 3.5
4.2 0.1 1.7 0.5 0.5 – –
9.6 0.0 4.7 0.2 4.5 – –
16.3 0.1 13.5 0.7 1.9 0.1 –
4.4 0.0 3.4 0.2 – – –
8.1 0.1 2.7 0.2 1.4 – 3.5
9.9 0.3 6.0 1.5 2.1 – –
12.2 – 4.3 0.3 6.6 0.6 –
5.3 0.3 2.7 0.2 1.3 0.2 0.2
15.0 0.7 6.9 0.8 5.6 0.1 0.7
1.1
1.0
–
–
0.5
0.5
–
–
–
–
–
–
Int. organisations
A 110
BIS Quarterly Review, September 2011
Securities markets 1
11
International debt securities by residence of issuer ........................................ page A113
12 A B C D
International debt securities by nationality of issuer All issuers ...................................................................................................................... Financial institutions ...................................................................................................... Corporate issuers .......................................................................................................... Governments .................................................................................................................
13 A B
International debt securities by type, sector and currency Money market instruments ............................................................................................. A118 Bonds and notes ............................................................................................................ A119
14 A B
International debt securities by residence of issuer Money market instruments ............................................................................................. A120 Bonds and notes ............................................................................................................ A121
15 A B
International debt securities by nationality of issuer Money market instruments ............................................................................................. A122 Bonds and notes ............................................................................................................ A123
16 A B
Domestic debt securities by sector and residence of issuer All issuers and governments .......................................................................................... A124 Financial institutions and corporate issuers.................................................................... A125
17 A B
Debt securities with remaining maturity up to one year Domestic securities........................................................................................................ A126 International securities ................................................................................................... A127
18
Announced international equity issues by nationality of issuer .............................. A128
1
A114 A115 A116 A117
More detailed data and a full set of historical time series are available on the BIS website under http://www.bis.org/statistics/secstats.htm.
BIS Quarterly Review, September 2011
A111
Table 11: International debt securities - all issuers By residence of issuer In billions of US dollars Countries
Dec 2009
Amounts outstanding Dec 2010 Mar 2011
Jun 2011
2009
2010
Net issues Q3 2010 Q4 2010
Q1 2011
Q2 2011
All countries
26,995.3
27,687.6
29,044.9
29,634.0
2,332.6
1,512.3
490.6
296.7
488.9
283.3
Developed countries Australia Austria Belgium Canada Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Slovakia Spain Sweden Switzerland United Kingdom United States
23,663.5 543.9 388.1 335.0 566.6 13.0 156.0 143.1 1,834.5 2,151.9 260.2 42.4 1,366.9 1,171.6 170.6 477.2 1,923.2 10.9 186.6 187.0 8.2 1,511.0 362.2 26.1 3,781.2 6,029.4
24,101.0 587.7 364.8 323.1 654.8 13.6 139.0 154.2 1,891.5 2,044.8 335.2 32.7 1,249.7 1,134.2 183.4 447.6 1,951.5 13.2 206.8 185.4 11.7 1,463.7 383.3 28.7 3,680.9 6,599.7
25,292.7 593.4 397.2 359.7 681.9 14.9 156.7 171.2 2,074.5 2,167.2 358.9 32.6 1,243.0 1,223.0 183.9 464.5 2,073.9 16.1 233.1 199.6 14.2 1,596.8 403.9 35.9 3,844.1 6,726.6
25,760.9 618.8 398.1 367.3 710.1 16.6 158.7 179.4 2,130.8 2,251.0 371.4 32.8 1,245.0 1,249.9 179.0 474.6 2,137.3 16.0 244.0 191.8 15.9 1,625.2 422.3 37.1 3,909.4 6,753.2
2,132.4 67.6 7.5 60.4 71.0 2.4 27.3 26.0 278.1 –72.7 55.7 –11.0 104.5 120.6 –13.4 21.2 184.4 –2.3 13.3 48.9 2.7 193.9 84.0 –0.1 148.4 706.6
1,249.3 34.9 –6.9 9.6 80.1 1.5 –11.1 18.1 158.0 4.4 92.3 –8.3 –36.1 41.6 0.2 –12.1 122.5 2.1 21.0 12.2 4.2 55.8 28.5 1.6 29.4 601.3
409.4 17.5 0.0 5.1 12.5 –0.2 –17.2 1.2 36.8 –2.5 7.1 –0.2 –31.5 33.4 5.8 –7.8 71.9 –0.2 5.7 4.9 – 40.3 –0.6 –0.0 81.0 146.3
237.1 5.4 –6.1 –10.9 27.6 1.1 0.8 8.6 36.7 –9.9 26.4 –2.6 –7.8 13.7 –1.7 –0.9 18.3 3.7 –0.2 –0.1 2.8 7.4 10.2 1.2 –84.9 198.1
371.2 –3.6 13.6 17.1 15.3 0.7 11.5 9.4 83.2 20.0 2.8 –1.2 –70.2 20.5 1.8 0.2 29.6 2.8 19.7 2.6 1.7 44.2 4.9 6.1 46.2 87.5
191.4 16.6 –8.3 1.8 23.6 1.5 –0.6 5.5 21.3 48.2 6.3 –0.1 –15.8 6.5 –9.1 3.4 30.8 –0.3 6.6 –11.2 1.4 1.5 12.8 –0.7 42.9 8.1
Offshore centres Aruba Bahamas Bermuda Cayman Islands Hong Kong SAR Lebanon Netherlands Antilles Panama Singapore West Indies UK
1,510.9 6.1 10.0 68.4 1,145.7 46.6 23.7 107.3 10.8 51.4 28.1
1,545.5 6.7 9.6 80.0 1,150.6 63.5 24.7 95.5 10.7 56.6 34.5
1,560.2 6.5 9.4 81.7 1,153.1 64.9 25.0 100.8 10.8 60.4 35.0
1,593.0 6.6 11.1 87.5 1,152.2 82.6 25.3 101.3 11.1 63.9 39.1
–9.3 –2.1 0.6 15.6 –6.1 –2.3 –0.4 –13.3 1.3 –2.5 –0.9
35.7 –0.0 –0.3 11.4 5.2 16.9 1.1 –9.8 –0.0 4.3 6.5
25.3 –0.0 0.6 4.7 7.2 5.3 –0.2 –1.8 0.0 4.0 5.2
17.2 – –0.7 5.1 6.2 7.2 1.0 –2.8 –0.1 0.4 1.4
2.6 –0.1 –0.2 1.4 –5.4 1.1 0.3 2.2 0.1 3.3 0.5
23.5 –0.0 1.6 5.4 –7.1 17.5 0.3 –1.1 0.2 3.0 4.0
Developing countries
1,021.0
1,148.8
1,215.3
1,257.5
107.8
134.2
39.2
39.1
52.9
34.7
Africa & Middle East Israel Qatar South Africa Tunisia United Arab Emirates
140.1 14.4 21.8 23.0 3.8 55.1
154.6 16.5 25.7 27.2 3.4 54.7
162.5 16.7 25.6 33.6 3.5 55.1
161.8 16.1 24.9 34.1 2.9 57.9
22.7 0.6 10.5 1.0 –0.2 8.7
14.9 2.2 3.9 4.3 –0.4 –0.3
5.7 –0.2 3.4 2.3 –0.4 0.2
5.1 0.1 –0.0 0.8 – 2.2
6.8 –0.0 –0.1 6.0 – 0.1
–1.2 –0.6 –0.7 0.3 –0.6 2.7
Asia & Pacific
286.9
313.1
327.8
338.1
29.7
23.6
5.4
10.9
14.0
8.7
24.9 5.7 30.5 19.1 24.5 35.9 124.4 8.5
24.1 6.9 28.5 22.9 27.5 39.0 136.2 8.1
27.0 7.6 27.6 22.4 27.7 41.0 144.5 8.4
27.4 8.7 26.4 26.6 27.9 42.2 148.7 8.0
2.4 –3.7 0.2 5.6 –0.5 4.3 19.8 –0.6
–0.8 1.2 –2.2 3.6 2.7 2.7 10.5 –0.7
–1.4 1.0 –1.2 –0.2 1.2 0.7 5.2 –
2.0 0.5 –0.6 0.4 –0.3 1.1 2.3 –0.1
2.6 0.7 –0.9 –0.4 0.2 2.0 7.8 0.3
0.3 1.1 –1.2 4.1 0.1 1.1 3.1 –0.5
249.9
273.5
295.9
311.1
17.2
30.8
11.1
4.4
14.1
11.6
7.6 38.4 52.5 61.0 42.8
7.6 35.2 57.4 65.7 48.5
8.2 39.5 60.7 70.4 52.3
8.2 40.4 64.1 73.4 53.3
1.3 –0.1 8.7 –2.3 1.6
0.5 –1.1 6.7 4.8 6.5
1.2 –1.8 2.6 0.5 3.0
– –0.6 –1.0 1.8 1.7
0.3 2.6 0.7 4.1 2.9
– 0.3 2.0 2.5 0.8
344.0
407.6
429.0
446.4
38.3
65.0
17.0
18.7
18.0
15.6
55.3 90.8 14.8 21.9 77.0 13.3 9.3 43.0
56.2 117.5 22.2 22.3 93.2 19.4 9.2 48.1
58.9 122.1 24.3 24.1 98.9 20.2 8.6 51.4
59.4 132.8 24.6 24.5 104.9 20.2 9.1 50.7
–4.6 12.7 1.8 4.6 13.3 3.4 0.3 9.3
2.6 26.7 7.3 0.3 15.9 6.1 –0.0 5.2
0.6 5.6 3.4 0.8 3.6 0.9 – 1.7
0.9 8.3 2.6 –0.5 0.5 3.6 – 3.2
1.3 3.9 2.1 1.6 4.9 0.8 –0.8 3.2
0.1 10.0 0.2 0.4 5.5 –0.0 0.4 –0.8
799.9
892.3
976.7
1,022.6
101.6
93.2
16.8
3.3
62.2
33.7
China Chinese Taipei India Indonesia Malaysia Philippines South Korea Thailand Europe Croatia Hungary Poland Russia Turkey Latin America & Caribbean Argentina Brazil Chile Colombia Mexico Peru Uruguay Venezuela Int. organisations
BIS Quarterly Review, September 2011
A 113
Table 12A: International debt securities - all issuers By nationality of issuer In billions of US dollars Amounts outstanding Countries
Net issues
Dec 2009
Dec 2010
Mar 2011
Jun 2011
2009
2010
Q3 2010
Q4 2010
Q1 2011
All countries
26,995.3
27,687.6
29,044.9
29,634.0
2,332.6
1,512.3
490.6
296.7
488.9
Q2 2011 283.3
Developed countries Australia Austria Belgium Canada Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Slovakia Spain Sweden Switzerland United Kingdom United States
24,586.5 559.5 368.6 586.2 567.1 14.7 171.5 136.5 2,005.1 2,935.6 369.0 51.0 586.1 1,416.4 400.1 98.2 1,283.4 9.8 187.3 292.8 8.5 1,840.5 391.1 456.7 3,133.0 6,700.8
24,969.6 603.1 347.8 592.3 651.0 15.3 156.5 144.7 1,997.1 2,747.2 428.9 41.3 535.2 1,359.0 419.8 95.0 1,344.1 14.3 209.0 274.2 11.9 1,783.2 407.1 466.2 3,121.6 7,183.1
26,156.6 613.1 376.3 632.5 677.0 15.2 170.7 162.0 2,210.2 2,877.0 449.8 42.0 534.1 1,464.2 424.1 103.9 1,432.7 17.1 234.8 290.3 14.5 1,947.3 432.9 491.7 3,215.9 7,301.0
26,612.8 636.8 375.1 640.7 704.5 17.4 172.4 164.1 2,270.0 2,956.4 456.3 42.9 530.7 1,498.9 415.7 110.4 1,489.5 16.4 242.1 282.8 15.9 1,996.4 458.6 497.4 3,270.4 7,324.4
2,085.0 63.7 3.5 84.5 65.9 5.3 25.0 26.6 251.5 –62.6 68.1 –8.5 78.6 119.1 –8.6 –5.8 119.4 1.8 12.8 51.8 2.7 173.1 79.7 47.3 274.6 607.0
1,192.9 38.6 –5.3 40.3 76.2 1.8 –7.9 14.7 98.6 –47.0 85.4 –8.1 –14.6 33.7 0.1 1.3 117.3 4.5 22.5 2.3 4.2 61.7 25.4 19.8 91.5 531.4
399.7 11.3 0.2 3.7 14.0 1.1 –6.2 0.7 32.4 3.5 5.1 –2.9 –44.2 45.9 16.5 3.5 63.4 0.2 7.0 2.6 – 52.2 –1.7 2.8 56.5 132.1
216.1 13.1 –5.6 –11.4 23.2 –0.2 –1.4 4.6 28.1 –47.0 24.2 –3.1 10.1 –1.5 0.2 –0.7 12.5 3.6 –1.5 –4.2 2.8 –5.2 10.4 –11.7 –17.0 193.6
360.7 0.5 10.7 8.1 14.1 –1.0 7.0 10.1 108.9 –0.1 –5.3 –0.6 –28.6 26.5 3.9 5.1 27.3 2.6 19.1 –0.3 1.7 61.6 9.0 11.7 1.6 62.5
173.7 16.0 –10.0 –2.1 22.7 1.9 –1.1 –0.6 23.3 33.6 –1.3 0.5 –11.2 11.1 –16.7 5.2 33.9 –0.8 3.0 –12.2 1.2 18.9 19.7 –2.8 41.0 1.4
Offshore centres Aruba Bahamas Bermuda Cayman Islands Hong Kong SAR Lebanon Netherlands Antilles Panama Singapore West Indies UK
267.5 0.2 1.3 7.7 68.9 78.0 23.7 – 10.2 52.1 0.6
280.0 0.2 1.3 10.8 65.8 85.6 24.9 – 10.0 57.1 0.3
274.9 0.2 1.3 11.3 59.4 83.5 25.2 – 10.1 60.3 0.3
282.6 0.2 1.3 12.2 57.6 86.8 25.5 – 10.1 64.2 0.7
12.4 – 0.6 3.1 5.9 10.5 –0.4 – 1.3 –0.6 –0.1
13.8 – –0.0 3.2 –2.2 8.0 1.3 – –0.2 3.9 –0.3
8.1 – – 1.3 –1.2 4.3 –0.2 – – 4.4 –0.1
2.8 – – 0.6 –2.2 3.6 1.0 – –0.2 0.6 –
–8.2 – – 0.4 –7.8 –2.6 0.3 – 0.1 2.6 0.0
5.9 – – 0.8 –2.6 3.1 0.3 – – 3.4 0.4
Developing countries
1,341.0
1,545.2
1,636.4
1,715.7
133.3
212.5
66.0
74.5
74.3
70.0
Africa & Middle East Israel Qatar South Africa Tunisia United Arab Emirates
201.3 19.3 25.2 39.8 3.8 81.9
230.2 23.9 33.9 45.0 3.4 85.5
245.9 24.9 33.9 53.3 3.5 90.9
246.4 24.8 33.2 54.6 2.9 93.9
36.9 0.6 13.6 0.7 –0.2 19.0
30.1 4.7 8.7 5.8 –0.4 3.9
10.0 –0.2 4.1 2.4 –0.4 2.0
13.1 0.1 4.2 1.0 – 5.0
13.7 0.7 –0.1 7.4 – 4.9
–0.3 –0.2 –0.7 1.1 –0.6 2.6
Asia & Pacific China Chinese Taipei India Indonesia Malaysia Philippines South Korea Thailand
386.2 49.6 9.0 45.7 32.0 33.8 36.2 129.3 8.7
455.9 75.4 10.5 50.5 36.7 40.8 39.9 143.1 10.3
481.7 86.7 11.3 52.4 36.2 41.1 41.9 152.3 10.6
523.5 112.3 12.2 57.7 39.9 41.5 43.1 156.9 11.2
33.6 1.3 –4.2 1.7 8.7 0.6 4.3 20.6 –1.2
65.9 25.6 1.4 4.7 4.3 5.8 3.4 12.4 1.2
18.0 8.6 1.0 –0.3 –0.4 2.2 1.3 5.7 0.7
31.3 11.8 0.8 5.7 1.3 0.4 1.1 3.0 1.1
24.8 11.0 0.8 1.7 –0.4 0.4 2.0 8.8 0.3
39.3 25.2 0.8 5.2 3.6 –0.1 1.1 3.5 0.7
Europe Croatia Hungary Poland Russia Turkey
339.4 7.6 39.3 56.3 133.2 51.5
384.1 7.6 36.2 62.9 156.9 57.2
409.3 8.2 40.6 66.5 162.7 60.9
425.6 8.2 41.7 70.8 167.7 61.0
18.7 1.9 0.9 10.1 –4.9 1.4
53.6 0.5 –0.9 8.7 25.0 6.5
15.6 1.2 –1.8 3.0 5.1 2.9
17.7 – –0.5 0.7 13.5 1.7
15.2 0.3 2.6 0.7 4.1 2.8
12.3 – 0.6 2.8 4.3 –0.2
Latin America & Caribbean Argentina Brazil Chile Colombia Mexico Peru Uruguay Venezuela
414.1 53.3 141.3 11.2 23.3 97.4 13.6 9.2 43.2
475.0 53.8 175.3 16.2 24.4 105.9 18.7 9.2 48.6
499.5 56.4 186.4 17.9 25.8 109.7 19.5 8.5 51.4
520.1 56.7 200.4 18.1 26.5 115.6 19.6 9.0 50.7
44.0 –1.4 19.6 1.2 5.0 8.6 2.8 0.4 9.6
62.9 2.2 33.8 5.0 0.9 8.9 5.2 –0.0 5.5
22.3 0.7 12.4 2.2 0.9 3.8 0.8 – 1.7
12.4 0.7 6.5 1.9 0.2 –3.4 3.0 – 3.2
20.6 1.2 10.2 1.6 1.2 2.7 0.8 –0.8 2.7
18.6 –0.1 13.1 0.2 0.7 5.3 0.0 0.4 –0.8
Int. organisations
800.2
892.6
977.0
1,022.9
101.9
93.2
16.8
3.3
62.2
33.7
A 114
BIS Quarterly Review, September 2011
Table 12B: International debt securities - financial institutions By nationality of issuer In billions of US dollars Countries
Dec 2009
Amounts outstanding Dec 2010 Mar 2011
Jun 2011
2009
2010
Net issues Q3 2010 Q4 2010
Q1 2011
Q2 2011
All countries
20,882.0
20,823.3
21,713.0
21,973.2
1,344.6
593.5
265.2
71.9
218.6
24.7
Developed countries Australia Austria Belgium Canada Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Slovakia Spain Sweden Switzerland United Kingdom United States
20,119.1 525.8 219.5 409.2 318.8 9.7 134.0 51.3 1,545.4 2,502.2 125.6 46.7 513.5 1,072.8 343.1 73.6 1,186.8 6.0 158.2 210.3 0.3 1,674.6 321.1 436.1 2,784.7 5,444.4
19,956.9 562.5 203.3 412.1 362.3 7.9 123.5 55.1 1,518.1 2,318.3 193.0 36.7 460.2 1,000.7 362.8 63.0 1,240.2 6.2 179.1 196.6 0.3 1,595.4 335.6 446.0 2,731.1 5,540.0
20,801.4 570.5 212.4 426.9 381.1 7.0 130.4 60.6 1,693.2 2,420.5 202.0 37.3 455.2 1,085.5 369.0 63.8 1,330.0 6.7 203.5 203.0 0.3 1,733.6 359.0 469.6 2,803.3 5,569.5
21,013.2 588.0 208.9 429.1 398.5 8.5 130.8 62.7 1,736.5 2,466.6 206.7 35.2 450.5 1,117.9 366.1 68.9 1,378.2 6.5 210.5 203.2 – 1,770.8 380.3 474.6 2,830.4 5,476.0
1,296.4 62.8 –3.1 55.0 24.7 2.9 17.0 9.0 164.1 –76.6 16.6 –8.2 68.3 81.3 6.3 –17.7 117.2 2.0 4.7 37.0 – 131.6 52.5 42.2 224.0 280.1
487.3 32.4 –9.6 25.0 37.1 –1.1 –4.7 4.9 53.3 –70.1 74.8 –8.7 –22.1 –0.6 4.8 –7.2 105.4 0.2 20.8 1.4 – 29.3 22.1 19.9 39.3 139.0
215.4 8.8 2.6 7.9 2.2 1.2 –4.7 0.4 28.3 –10.3 5.7 –2.9 –47.7 31.2 14.5 0.9 55.8 –0.0 5.2 0.2 – 48.0 –1.1 3.6 45.3 20.3
31.4 10.6 –4.9 –12.0 14.8 –1.3 –0.6 3.2 13.8 –43.7 25.5 –3.1 12.6 –8.5 2.2 –2.6 11.2 0.2 –1.5 –2.2 – –5.6 1.6 –11.7 –23.2 56.6
181.5 –0.8 –0.2 –6.6 9.9 –1.4 1.1 3.6 97.0 –2.3 –3.0 –0.5 –28.3 24.9 5.4 –1.6 33.0 0.4 18.7 –5.1 – 47.0 9.5 10.5 –9.8 –20.2
–18.4 10.4 –9.6 –4.9 14.4 1.4 –2.0 0.8 16.0 8.5 1.2 –2.4 –11.2 14.7 –9.6 4.2 26.9 –0.4 3.1 –3.1 –0.3 10.5 16.0 –2.8 13.5 –113.8
Offshore centres Aruba Bahamas Bermuda Cayman Islands Hong Kong SAR Lebanon Netherlands Antilles Panama Singapore West Indies UK
189.5 0.0 0.0 3.2 68.6 58.5 0.8 – 0.5 34.2 0.4
194.1 0.0 0.0 5.4 65.5 64.7 0.9 – 0.3 36.7 0.1
189.5 0.0 0.0 5.6 59.1 64.3 0.9 – 0.3 39.5 0.1
195.4 0.0 0.0 6.0 57.3 66.3 1.2 – 0.3 43.3 0.5
4.7 – –0.0 0.6 5.6 9.3 0.2 – – –2.2 –0.1
6.1 – –0.0 2.3 –2.2 6.6 0.1 – –0.2 1.8 –0.3
6.0 – – 0.4 –1.2 4.1 –0.2 – – 3.6 –0.1
0.2 – – 0.6 –2.2 2.8 – – –0.2 –0.2 –
–7.4 – – 0.1 –7.8 –0.8 – – – 2.4 0.0
4.4 – – 0.4 –2.6 1.8 0.3 – – 3.5 0.4
Developing countries
573.4
672.4
722.1
764.7
43.5
100.1
43.8
40.4
44.5
38.7
Africa & Middle East Israel Qatar South Africa Tunisia United Arab Emirates
104.1 4.8 6.4 24.7 – 51.8
117.2 7.3 14.1 26.2 – 51.0
126.4 8.0 14.1 28.2 – 56.8
127.4 8.5 14.2 29.8 – 58.8
12.6 –0.3 3.1 –0.0 – 9.0
13.8 2.5 7.7 2.0 – –0.6
8.7 –0.0 3.5 0.4 – 2.7
7.1 –0.0 4.2 1.2 – 1.1
7.9 0.7 – 1.5 – 5.4
0.6 0.5 – 1.5 – 1.8
Asia & Pacific China Chinese Taipei India Indonesia Malaysia Philippines South Korea Thailand
229.3 36.5 3.5 17.5 14.0 26.5 4.4 86.9 4.2
275.9 60.1 3.4 20.4 15.5 32.1 6.0 95.3 5.6
296.4 69.9 3.5 23.8 15.5 32.4 6.3 101.6 5.6
324.0 92.3 3.2 27.7 15.2 32.5 6.5 102.9 6.5
17.6 1.7 –1.3 –0.8 2.8 2.2 0.6 11.2 –0.9
43.8 23.3 –0.2 2.8 1.3 4.6 1.5 7.3 1.3
15.5 8.2 –0.0 0.3 –0.4 2.2 0.7 5.1 0.5
18.2 10.0 –0.0 3.3 0.7 0.4 0.7 –0.8 1.4
19.7 9.6 0.0 3.4 0.0 0.4 0.3 5.9 –
25.8 22.1 –0.3 3.7 –0.4 –0.3 0.2 0.4 1.0
Europe Croatia Hungary Poland Russia Turkey
125.4 1.2 13.4 3.5 86.8 9.7
143.1 1.1 10.3 5.2 102.8 12.1
148.7 0.7 10.2 5.6 105.8 13.0
151.8 0.7 10.5 6.5 108.3 13.4
–1.4 – 0.3 1.5 –4.0 –0.3
20.5 – –2.1 2.0 17.2 2.4
7.6 – –0.1 0.3 5.8 1.9
14.6 – –0.5 1.8 12.4 0.8
3.0 –0.4 –0.7 0.1 1.7 0.9
2.1 – 0.1 0.8 1.9 0.4
Latin America & Caribbean Argentina Brazil Chile Colombia Mexico Peru Uruguay Venezuela
114.6 2.9 72.0 0.9 1.8 28.7 3.2 – 1.4
136.2 2.8 95.9 1.5 2.5 22.6 4.8 – 1.4
150.7 2.9 108.7 1.5 3.1 22.8 5.6 – 1.4
161.5 3.2 117.5 1.5 4.6 22.9 5.6 – 1.4
14.8 0.1 14.3 0.2 – –1.2 0.6 –0.1 –0.1
21.9 –0.1 23.6 0.6 0.8 –5.6 1.6 – –0.0
12.0 0.2 9.9 – 0.7 0.5 0.8 – –
0.4 –0.1 2.4 0.5 0.2 –3.4 0.5 – –0.0
13.8 0.1 12.5 – 0.5 –0.2 0.8 – –
10.3 0.3 8.4 – 1.5 0.0 0.0 – –0.0
BIS Quarterly Review, September 2011
A 115
Table 12C: International debt securities - corporate issuers By nationality of issuer In billions of US dollars Countries
Amounts outstanding Dec 2010 Mar 2011
Jun 2011
2009
2010
Net issues Q3 2010 Q4 2010
Q1 2011
Q2 2011
All countries
3,050.4
3,554.5
3,756.1
3,951.5
566.9
566.3
150.6
195.7
132.6
171.9
Developed countries Australia Austria Belgium Canada Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Slovakia Spain Sweden Switzerland United Kingdom United States
2,760.0 23.5 39.1 30.5 148.0 0.4 15.6 22.3 403.7 131.0 14.3 2.3 10.1 98.6 53.9 21.7 72.9 3.1 29.1 15.1 0.3 22.8 36.2 19.8 298.7 1,245.4
3,202.1 30.3 40.6 31.2 171.1 1.0 14.0 22.3 416.7 127.8 12.4 2.2 13.4 105.0 53.8 26.6 80.7 7.3 29.9 14.3 0.3 21.7 33.2 19.4 293.6 1,631.7
3,384.2 32.7 44.2 31.0 174.9 1.1 14.6 23.5 446.7 134.5 11.2 2.1 13.7 114.0 52.1 34.4 84.9 9.6 31.3 13.6 0.3 23.7 39.2 21.2 307.9 1,720.2
3,555.1 35.5 46.0 32.9 180.0 1.2 15.1 24.7 461.5 147.3 12.6 3.0 13.9 110.3 46.5 35.7 85.3 9.2 31.7 12.3 0.3 24.7 43.8 22.0 320.6 1,837.1
518.7 1.5 6.1 16.4 24.5 –0.0 1.7 7.2 78.2 4.3 –1.6 –0.1 2.2 18.7 –14.9 11.9 8.0 –0.1 8.0 2.7 – –1.7 10.2 5.4 9.2 320.0
505.2 6.9 3.8 1.8 22.3 0.6 –0.9 1.0 34.9 5.0 –1.0 0.0 3.6 12.8 –4.7 6.0 11.1 4.2 1.7 0.3 – 0.3 –1.5 –0.1 5.0 392.0
141.4 2.5 1.2 0.0 9.0 – –1.5 1.6 4.4 0.3 – 0.0 1.3 2.6 1.9 2.6 3.7 0.2 1.8 0.5 – –3.0 –0.5 –0.8 2.2 111.7
172.2 2.9 0.9 0.2 7.6 – –0.3 –0.6 14.0 –3.0 –1.3 0.1 2.2 4.5 –2.0 1.9 4.1 3.4 –0.0 0.1 – 1.5 1.2 0.0 –1.7 136.7
115.4 1.7 1.2 –1.4 2.7 – –0.1 –0.0 8.0 –0.4 –1.9 –0.1 – 3.1 –1.3 6.7 0.7 2.3 0.4 –1.5 – 0.9 4.1 1.2 6.3 82.9
148.8 2.5 1.0 1.6 4.8 0.2 0.3 1.0 6.9 10.6 1.2 0.8 0.2 –5.4 –7.1 1.0 –0.9 –0.5 –0.1 –1.5 – 0.6 4.2 0.3 12.1 115.1
Offshore centres Aruba Bahamas Bermuda Cayman Islands Hong Kong SAR Lebanon Netherlands Antilles Panama Singapore West Indies UK
41.7 – 0.7 4.6 – 18.0 – – 0.7 17.6 0.2
46.3 – 0.7 4.9 – 19.4 – – 0.7 20.4 0.2
45.4 – 0.7 5.3 – 17.7 – – 0.7 20.9 0.2
47.2 – 0.7 5.7 – 19.1 – – 0.7 20.9 0.2
6.0 – 0.3 2.5 – 1.6 – – – 1.7 –
4.3 – – 0.4 – 1.5 – – – 2.4 –
1.5 – – 0.4 – 0.2 – – – 0.8 –
1.6 – – – – 0.8 – – – 0.8 –
–1.2 – – 0.3 – –1.8 – – – 0.3 –
1.6 – – 0.4 – 1.3 – – – –0.2 –
Developing countries
248.6
306.1
326.5
349.2
42.2
56.8
7.7
21.8
18.4
21.6
Africa & Middle East Israel Qatar South Africa Tunisia United Arab Emirates
45.8 5.7 7.4 6.8 – 21.3
51.7 6.2 7.8 8.6 – 24.4
56.3 6.0 7.8 13.9 – 24.0
55.2 5.4 7.1 13.7 – 24.3
7.9 –0.1 1.5 0.3 – 4.1
5.8 0.5 0.4 1.9 – 3.1
1.7 –0.2 0.6 2.0 – –0.7
2.4 0.1 –0.1 –0.2 – 2.5
4.4 –0.1 –0.1 5.1 – –0.5
–1.3 –0.6 –0.7 –0.3 – 0.3
Asia & Pacific China Chinese Taipei India Indonesia Malaysia Philippines South Korea Thailand
97.3 8.4 5.5 28.2 2.8 5.6 6.9 35.2 4.0
111.3 9.6 7.1 30.1 3.1 5.7 7.1 40.6 4.0
115.1 11.0 7.8 28.5 2.7 5.7 7.5 43.5 4.3
127.0 15.2 8.9 30.0 4.2 5.2 8.4 46.8 4.3
8.3 –0.7 –2.9 2.4 1.9 –0.0 1.4 6.4 –
13.3 1.1 1.5 2.0 0.3 –0.0 0.2 5.0 –0.1
1.6 0.4 1.0 –0.6 – – –0.3 0.6 0.2
10.6 0.6 0.8 2.5 –0.1 – 0.8 3.8 –0.3
3.6 1.3 0.7 –1.7 –0.4 – 0.5 2.8 0.3
11.6 4.1 1.1 1.5 1.5 –0.6 0.9 3.0 –
Europe Croatia Hungary Poland Russia Turkey
31.2 1.0 1.4 0.4 20.0 0.4
37.6 0.9 2.3 0.4 23.5 0.5
41.3 1.2 2.4 0.4 25.3 0.6
43.5 1.2 2.5 0.4 26.1 0.8
4.6 0.4 – 0.0 0.4 –
6.8 – 1.0 – 3.5 0.2
–0.4 – – – –0.2 –
1.8 – – – 1.1 0.2
2.8 0.2 – – 1.7 –
1.9 – – – 0.7 0.2
Latin America & Caribbean Argentina Brazil Chile Colombia Mexico Peru Uruguay Venezuela
74.3 2.7 16.8 8.5 3.6 25.7 0.2 – 13.0
105.6 3.3 27.4 11.4 3.6 38.3 0.7 – 17.0
113.9 3.7 26.7 13.0 4.2 41.9 0.7 – 19.7
123.5 3.6 31.5 13.2 4.2 46.3 0.7 – 20.0
21.4 –0.1 3.3 1.5 2.4 8.7 0.2 – 4.7
30.9 0.7 10.7 2.8 – 12.2 0.5 – 4.1
4.8 0.4 1.3 0.7 – 2.1 0.0 – 0.2
7.1 0.3 4.9 1.4 – –2.8 0.0 – 3.2
7.6 0.4 –0.9 1.6 0.7 3.2 – – 2.7
9.3 –0.1 4.7 0.2 – 4.2 – – 0.3
A 116
Dec 2009
BIS Quarterly Review, September 2011
Table 12D: International debt securities - governments By nationality of issuer In billions of US dollars Countries
Dec 2009
Amounts outstanding Dec 2010 Mar 2011
Jun 2011
2009
2010
Net issues Q3 2010 Q4 2010
Q1 2011
Q2 2011
All countries
2,262.7
2,417.1
2,598.9
2,686.5
319.2
259.3
58.1
25.9
75.5
53.0
Developed countries Australia Austria Belgium Canada Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Slovakia Spain Sweden Switzerland United Kingdom United States
1,707.4 10.2 109.9 146.5 100.2 4.6 21.9 62.9 55.9 302.4 229.0 2.0 62.5 245.0 3.2 2.9 23.6 0.8 – 67.4 7.9 143.1 33.8 0.8 49.7 11.0
1,810.7 10.2 104.0 149.1 117.6 6.4 19.1 67.3 62.3 301.2 223.4 2.5 61.7 253.3 3.2 5.3 23.1 0.8 – 63.3 11.4 166.0 38.3 0.9 97.0 11.4
1,971.0 10.0 119.8 174.6 121.0 7.2 25.7 77.9 70.3 322.0 236.7 2.6 65.2 264.7 3.1 5.7 17.7 0.7 – 73.8 13.9 189.9 34.8 0.9 104.7 11.3
2,044.6 13.3 120.2 178.7 126.1 7.7 26.5 76.6 72.1 342.4 237.0 4.6 66.3 270.7 3.2 5.8 25.9 0.8 – 67.4 15.5 201.0 34.6 0.8 119.4 11.3
269.9 –0.6 0.5 13.1 16.7 2.4 6.3 10.4 9.2 9.8 53.2 –0.2 8.1 19.0 –0.0 – –5.8 –0.0 – 12.1 2.7 43.2 16.9 –0.3 41.4 6.9
200.4 –0.7 0.6 13.5 16.9 2.2 –2.3 8.8 10.4 18.1 11.5 0.5 3.8 21.5 – 2.6 0.8 – – 0.7 4.2 32.1 4.7 – 47.2 0.4
42.9 0.0 –3.5 –4.2 2.8 –0.1 0.0 –1.3 –0.2 13.6 –0.6 – 2.3 12.2 – – 3.9 – – 1.9 – 7.2 –0.1 – 9.1 0.0
12.5 –0.4 –1.6 0.5 0.8 1.1 –0.5 2.0 0.2 –0.2 – – –4.8 2.5 – – –2.8 – – –2.0 2.8 –1.0 7.6 – 7.9 0.4
63.7 –0.3 9.7 16.1 1.5 0.4 6.0 6.6 4.0 2.6 –0.5 – –0.3 –1.5 –0.2 – –6.4 –0.1 – 6.4 1.7 13.7 –4.7 – 5.1 –0.1
43.4 3.1 –1.5 1.3 3.5 0.3 0.6 –2.4 0.4 14.5 –3.7 2.0 –0.1 1.7 – – 7.8 0.1 – –7.6 1.4 7.8 –0.4 –0.2 15.4 0.0
Offshore centres Aruba Bahamas Bermuda Cayman Islands Hong Kong SAR Lebanon Netherlands Antilles Panama Singapore West Indies UK
36.3 0.2 0.6 – 0.3 1.4 22.8 – 9.1 0.4 –
39.7 0.2 0.6 0.5 0.3 1.4 23.9 – 9.1 – –
40.0 0.2 0.6 0.5 0.3 1.4 24.3 – 9.1 – –
40.1 0.2 0.6 0.5 0.3 1.4 24.3 – 9.2 – –
1.7 – 0.3 – 0.3 –0.5 –0.6 – 1.3 – –
3.4 – – 0.5 – – 1.2 – – –0.4 –
0.7 – – 0.5 – – – – – – –
1.0 – – – – – 1.0 – – – –
0.3 – – – – – 0.3 – 0.1 – –
– – – – – – – – – – –
Developing countries
519.0
566.8
587.8
601.8
47.6
55.5
14.5
12.3
11.5
9.7
Africa & Middle East Israel Qatar South Africa Tunisia United Arab Emirates
51.4 8.9 11.4 8.3 3.8 8.8
61.3 10.5 11.9 10.2 3.4 10.2
63.2 10.8 11.9 11.1 3.5 10.2
63.8 10.9 11.9 11.2 2.9 10.7
16.5 1.0 9.0 0.5 –0.2 6.0
10.4 1.8 0.6 2.0 –0.4 1.4
–0.4 – – – –0.4 –
3.5 – – – – 1.4
1.4 0.1 – 0.8 – –
0.4 – – – –0.6 0.5
Asia & Pacific China Chinese Taipei India Indonesia Malaysia Philippines South Korea Thailand
59.7 4.6 – – 15.2 1.8 25.0 7.2 0.6
68.7 5.8 – – 18.0 3.0 26.9 7.1 0.7
70.3 5.9 – – 18.0 3.0 28.2 7.2 0.7
72.5 4.9 – – 20.5 3.8 28.2 7.2 0.4
7.7 0.4 – – 4.0 –1.6 2.3 2.9 –0.3
8.8 1.2 – – 2.6 1.3 1.7 – –
1.0 – – – – – 1.0 – –
2.5 1.2 – – 0.6 – –0.4 – –
1.5 – – – – – 1.3 – –
2.0 –1.0 – – 2.5 0.8 – – –0.3
Europe Croatia Hungary Poland Russia Turkey
182.8 5.4 24.6 52.4 26.5 41.5
203.5 5.6 23.7 57.4 30.7 44.6
219.3 6.2 27.9 60.5 31.6 47.4
230.4 6.3 28.8 63.9 33.4 46.9
15.6 1.6 0.5 8.6 –1.4 1.6
26.3 0.5 0.2 6.7 4.3 3.9
8.4 1.2 –1.6 2.6 –0.5 1.0
1.3 – – –1.0 – 0.7
9.5 0.5 3.3 0.5 0.8 1.9
8.3 – 0.5 2.0 1.8 –0.8
Latin America & Caribbean Argentina Brazil Chile Colombia Mexico Peru Uruguay Venezuela
225.2 47.7 52.5 1.8 18.0 42.9 10.2 9.2 28.8
233.3 47.7 51.9 3.3 18.3 45.1 13.2 9.2 30.2
235.0 49.8 51.0 3.3 18.5 45.1 13.2 8.5 30.3
235.1 49.9 51.4 3.3 17.7 46.3 13.2 9.0 29.3
7.8 –1.4 1.9 –0.5 2.6 1.1 2.0 0.5 5.0
10.1 1.6 –0.4 1.5 0.2 2.3 3.1 –0.0 1.5
5.5 0.2 1.2 1.5 0.2 1.1 – – 1.5
5.0 0.5 –0.8 – – 2.8 2.5 – –
–0.8 0.8 –1.4 – – –0.3 – –0.8 –
–1.0 –0.4 – – –0.9 1.0 – 0.4 –1.0
BIS Quarterly Review, September 2011
A 117
Table 13A: International money market instruments By type, sector and currency In billions of US dollars Type, sector and currency
Amounts outstanding Dec 2010 Mar 2011 Jun 2011
Gross issuance Q1 2011 Q2 2011
2009
2010
Net issues Q4 2010
Q1 2011
Q2 2011
Total issues
915.8
982.2
958.7
669.2
619.3
–237.5
13.4
–54.3
38.0
–32.3
Commercial paper US dollar Euro Yen Pound sterling Swiss franc Canadian dollar Other currencies
511.9 162.2 240.3 5.4 76.1 11.2 1.3 15.4
556.8 172.5 254.4 3.6 96.5 9.8 1.4 18.6
558.9 167.7 250.5 5.0 102.3 12.2 0.9 20.3
456.3 133.0 210.8 3.5 85.4 7.8 1.1 14.5
437.2 114.2 201.6 4.1 88.4 10.0 0.7 18.2
–137.6 –37.8 –48.3 –2.0 –36.8 –4.2 0.0 –8.5
–64.3 –12.6 –44.0 0.8 –1.5 –4.5 0.6 –3.1
–40.1 6.1 –43.6 –1.7 3.7 –1.4 0.2 –3.5
26.7 10.3 –1.0 –1.7 18.1 –1.6 –0.0 2.7
–3.4 –4.7 –8.3 1.3 6.4 1.3 –0.4 1.1
447.7 29.7 10.8 23.8
478.8 32.0 19.0 26.9
477.5 26.6 15.7 39.1
396.1 24.1 15.6 20.5
371.1 18.4 12.6 35.1
–49.5 –47.6 –11.9 –28.7
–58.2 –3.1 3.9 –7.0
–30.4 –12.4 4.5 –1.8
14.8 1.7 8.0 2.2
–6.2 –5.7 –3.3 11.9
403.8 178.4 137.8 16.0 49.5 3.8 0.5 17.8
425.3 189.5 147.6 14.6 50.4 3.9 1.5 17.9
399.7 167.3 132.5 15.2 54.6 5.8 1.5 22.8
212.9 77.5 97.4 4.8 21.0 2.6 1.2 8.4
182.0 70.3 64.7 5.9 24.5 3.5 0.4 12.7
–99.9 –12.2 –39.4 –12.9 –27.7 0.3 –1.0 –7.0
77.8 33.1 11.1 1.1 31.8 –2.8 0.2 3.3
–14.2 –19.1 –6.3 –0.8 12.8 –2.1 0.1 1.3
11.3 11.0 1.0 –1.1 –0.4 0.0 1.0 –0.2
–28.9 –22.1 –17.5 0.1 4.5 1.5 – 4.6
399.6 3.1 0.2 1.0
421.1 2.9 0.2 1.2
394.6 0.7 0.2 4.3
212.2 0.2 0.0 0.5
178.2 0.2 0.1 3.5
–96.2 –1.8 0.5 –2.4
76.3 2.3 –0.9 0.1
–14.6 0.3 0.0 0.0
11.4 –0.2 0.0 0.1
–29.9 –2.2 0.0 3.1
– 9.1 0.0 1.8 0.0 0.6 378.1 9.2 – 2.2 0.6 125.6 0.2 1.0 2.0 2.5 15.0 340.6 21.4 2.7
– 11.0 0.0 2.9 0.0 0.0 402.0 9.4 – 2.4 2.0 146.9 0.2 1.1 2.3 1.8 13.7 361.9 18.3 2.7
– 12.0 0.0 2.5 0.0 0.1 383.0 12.2 – 2.3 2.7 156.9 0.2 1.1 2.6 2.0 18.0 335.1 20.3 3.2
– 9.7 0.0 2.4 0.0 0.0 308.2 4.0 – 2.1 1.9 106.5 – 0.0 1.3 1.4 10.4 210.5 8.2 1.2
– 10.7 0.0 1.1 0.0 0.1 266.3 6.9 – 1.9 2.6 113.0 0.1 0.0 1.6 1.9 13.5 184.5 9.9 2.9
– –2.5 –0.0 –0.9 –0.2 –1.3 –87.7 –3.6 – –0.7 –2.2 –64.4 –0.2 –0.0 0.5 –1.9 –3.9 –50.0 –14.9 –0.2
– –2.4 0.0 0.7 0.0 0.4 –32.9 –0.0 – –0.4 –0.1 30.3 –0.0 –0.1 0.1 0.6 –7.3 20.5 2.0 0.8
– –3.7 0.0 0.3 –0.0 0.4 –49.9 1.2 – –0.4 0.2 16.5 0.0 0.0 –0.1 –0.0 –3.5 –13.0 –2.5 0.1
– 1.8 –0.0 1.0 0.0 –0.6 –0.1 0.3 – 0.2 1.3 17.7 – 0.0 0.3 –0.8 –1.6 21.3 –2.8 –0.1
– 0.6 –0.0 –0.4 0.0 0.1 –25.9 2.7 – –0.3 0.6 10.8 –0.0 0.0 0.2 0.2 2.8 –26.9 1.4 0.4
12,550.2 1,780.8 5,774.9 4,994.4
12,580.2 1,867.5 5,739.5 4,973.2
… … … …
… … … …
… … … …
–592.0 –622.4 411.0 –380.6
–403.8 –91.0 11.0 –323.9
–249.1 12.2 3.5 –264.8
–125.1 64.2 –87.9 –101.4
… … … …
Financial institutions Governments International organisations Corporate issuers Other instruments US dollar Euro Yen Pound sterling Swiss franc Canadian dollar Other currencies Financial institutions Governments International organisations Corporate issuers Currency of issue Argentine peso Australian dollar Baht Canadian dollar Czech koruna Danish krone Euro Hong Kong dollar New Taiwan dollar New Zealand dollar Norwegian krone Pound sterling Rand Russian rouble Singapore dollar Swedish krona Swiss franc US dollar Yen Zloty Memorandum item: Domestic money market instruments Total issues Commercial paper Treasury bills Other instruments
A 118
BIS Quarterly Review, September 2011
Table 13B: International bonds and notes By type, sector and currency In billions of US dollars Type, sector and currency
Amounts outstanding Dec 2010 Mar 2011 Jun 2011
Announced issues Q1 2011 Q2 2011
2009
2010
Net issues Q4 2010
Q1 2011
Q2 2011
26,771.8
28,062.8
28,675.4
1,523.4
1,343.3
2,570.1
1,498.9
351.0
450.9
315.6
7,887.0 2,166.1 4,305.8 194.8 944.5 23.3 32.0 220.5
8,181.1 2,187.2 4,567.2 189.2 943.3 23.1 35.6 235.6
8,274.4 2,180.9 4,646.2 192.4 941.9 26.7 36.6 249.8
341.8 133.6 150.1 4.4 25.6 3.8 2.6 21.7
331.4 116.6 138.6 7.0 42.4 2.1 3.0 21.7
171.1 29.5 41.4 5.0 84.4 –6.2 –0.7 17.6
–129.9 –92.4 –18.3 –8.6 –14.7 –1.9 0.6 5.3
–40.8 –12.0 –26.5 0.0 –8.0 1.7 1.6 2.3
–8.3 21.1 –10.4 –1.7 –27.3 –0.9 2.5 8.3
5.0 –6.3 –0.2 –3.1 3.2 1.3 0.8 9.4
7,500.9 155.4 61.5 169.2
7,755.3 178.6 65.6 181.6
7,832.6 184.4 70.9 186.5
296.1 22.8 8.2 14.7
302.6 11.3 5.5 11.9
164.7 11.4 24.0 –29.0
–172.4 48.2 13.2 –18.8
–51.1 8.3 1.7 0.2
–31.4 14.2 2.2 6.6
–5.8 3.3 4.4 3.1
18,399.7 8,090.7 7,382.1 513.0 1,137.8 371.8 308.4 595.9
19,382.4 8,324.6 8,037.8 503.6 1,179.1 387.6 317.7 632.0
19,897.7 8,504.9 8,250.1 517.8 1,201.6 420.0 330.4 672.8
1,157.7 546.0 452.9 22.0 49.5 19.0 14.6 53.8
989.1 474.6 369.3 16.9 47.2 9.6 15.6 55.9
2,358.6 1,141.7 1,021.8 –35.9 157.6 26.6 22.2 24.7
1,589.0 1,120.4 351.9 –7.5 31.3 5.8 26.4 60.7
382.1 319.9 43.8 3.0 –15.1 –3.2 10.6 23.1
452.2 233.9 181.5 0.7 9.3 5.4 –0.0 21.4
311.9 180.3 73.1 –2.6 28.6 –4.5 10.5 26.5
12,252.0 2,227.8 820.1 3,099.8
12,826.6 2,384.2 892.2 3,279.4
13,038.4 2,473.6 936.1 3,449.6
765.7 111.4 77.5 203.1
611.7 98.7 65.1 213.7
1,323.5 357.4 89.3 588.4
735.5 212.1 77.0 564.5
167.2 29.6 –3.0 188.4
220.5 59.8 51.9 119.9
70.5 57.7 32.6 151.2
485.0 244.4 107.2 52.5 8.7 6.1 11.8 54.4
499.3 253.9 113.8 47.4 8.9 6.2 12.8 56.3
503.2 257.6 119.2 41.9 8.6 6.5 13.7 55.7
23.9 16.5 4.3 0.6 – – 0.7 1.9
22.8 11.7 5.7 1.1 0.4 0.2 1.0 2.7
40.3 38.8 7.0 –10.4 –0.5 0.6 2.9 2.0
39.8 47.9 –7.1 –4.8 1.3 –3.9 4.0 2.4
9.7 10.8 0.9 –1.3 0.2 –2.1 1.4 –0.2
7.0 9.5 –0.1 –4.1 – –0.1 0.6 1.3
–1.3 3.7 3.4 –6.9 –0.3 –0.2 0.9 –1.7
Financial institutions Governments International organisations Corporate issuers
223.1 1.1 – 260.8
231.2 1.2 – 266.9
230.1 1.2 – 271.9
9.3 – – 14.6
9.3 – – 13.5
2.0 –0.3 – 38.6
12.4 –0.2 – 27.5
0.8 – – 8.9
3.3 – – 3.7
–3.9 – – 2.6
Convertibles Warrants
481.8 3.2
496.7 2.6
500.8 2.4
23.9 –
22.8 –
41.4 –1.1
40.7 –0.9
9.7 –
7.7 –0.7
–1.1 –0.2
0.6 326.5 4.0 352.3 15.0 3.9 11,795.0 60.3 1.4 36.8 64.5 2,091.1 35.6 15.1 33.7 92.1 401.2 10,501.2 760.3 12.3
0.5 339.5 4.9 366.0 16.1 3.8 12,718.8 60.6 1.3 34.8 73.1 2,131.3 35.4 18.7 35.0 103.2 416.8 10,765.7 740.2 11.9
0.5 357.9 4.7 380.8 16.9 3.5 13,015.5 59.8 1.3 37.4 81.5 2,152.0 36.3 19.7 37.2 104.8 453.2 10,943.4 752.1 12.1
– 27.4 1.0 17.8 0.3 – 607.3 2.9 – 0.8 6.5 75.1 2.4 3.3 1.5 11.4 22.8 696.1 27.0 0.2
– 21.6 0.1 19.6 1.2 – 513.6 3.7 0.0 1.4 10.5 90.0 1.9 3.0 2.6 10.3 11.9 602.9 25.0 0.1
0.1 15.0 0.4 24.4 –1.8 –2.6 1,070.2 0.6 –0.1 –5.8 17.9 241.4 –1.8 1.4 –2.5 14.0 21.0 1,210.0 –41.3 –0.5
–0.1 22.0 –0.1 31.1 –2.9 –1.0 326.6 –0.8 –0.3 –7.5 11.3 17.9 –5.9 1.9 1.7 17.9 0.0 1,075.9 –20.9 0.1
– 1.0 0.1 13.7 –0.7 –0.2 18.2 –1.7 –0.0 –2.3 1.9 –22.9 –2.6 1.9 –0.2 9.1 –3.7 318.7 1.8 –0.1
–0.2 7.2 1.0 3.2 –0.2 –0.4 171.0 0.3 –0.1 –1.6 4.4 –18.0 0.6 2.5 0.6 4.7 4.4 264.5 –5.1 –1.0
– 5.5 –0.2 12.2 0.4 –0.3 76.2 –0.8 – –0.3 6.7 31.4 1.1 0.6 1.3 2.7 –3.4 177.7 –12.7 –0.0
54,587.5 804.6 53,782.9
56,136.5 862.6 55,273.9
… … …
… … …
… … …
3,862.5 81.0 3,781.5
3,066.8 54.6 3,012.2
1,057.7 56.5 1,001.2
778.8 23.9 755.0
… … …
Total issues Floating rate US dollar Euro Yen Pound sterling Swiss franc Canadian dollar Other currencies Financial institutions Governments International organisations Corporate issuers Straight fixed rate US dollar Euro Yen Pound sterling Swiss franc Canadian dollar Other currencies Financial institutions Governments International organisations Corporate issuers Equity-related US dollar Euro Yen Pound sterling Swiss franc Canadian dollar Other currencies
Currency of issue Argentine peso Australian dollar Baht Canadian dollar Czech koruna Danish krone Euro Hong Kong dollar New Taiwan dollar New Zealand dollar Norwegian krone Pound sterling Rand Russian rouble Singapore dollar Swedish krona Swiss franc US dollar Yen Zloty Memorandum item: Domestic bonds and notes Total issues Medium-term notes Bonds
BIS Quarterly Review, September 2011
A 119
Table 14A: International money market instruments - all issuers By residence of issuer In billions of US dollars Countries
Amounts outstanding Dec 2010 Mar 2011 Jun 2011
Gross issuance Q1 2011 Q2 2011
2009
2010
Net issues Q4 2010
Q1 2011
Q2 2011
All countries
915.8
982.2
958.7
669.2
619.3
–237.5
13.4
–54.3
38.0
–32.3
Developed countries Australia Austria Belgium Canada Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Slovakia Spain Sweden Switzerland United Kingdom United States
871.2 48.0 14.4 20.7 0.9 0.3 9.1 17.3 86.9 97.9 5.5 0.1 79.8 0.0 2.0 26.1 102.7 0.6 4.5 2.6 – 28.7 39.6 0.2 186.1 96.5
922.5 45.0 26.7 22.2 0.8 0.5 7.0 15.6 113.6 109.6 3.8 0.1 55.7 2.7 1.3 27.6 108.2 1.4 8.7 2.2 – 27.3 34.7 0.2 207.3 99.4
894.3 52.7 21.0 24.0 1.5 0.9 6.4 15.5 104.8 117.9 2.4 – 50.6 0.3 1.4 31.8 111.8 0.9 7.9 2.2 – 23.8 35.6 0.2 201.2 78.9
628.3 36.9 20.1 17.8 0.7 0.2 5.8 10.5 88.1 82.0 – – 46.6 2.6 0.4 19.5 69.9 1.1 6.6 2.0 – 23.0 24.7 0.2 146.1 22.5
577.4 43.9 13.2 19.7 1.5 0.7 4.8 12.5 64.7 86.5 – – 38.0 0.3 0.3 22.4 60.3 0.6 6.1 2.1 – 18.3 28.8 0.2 136.1 15.9
–220.7 5.7 –14.0 4.0 –1.3 –0.7 –4.9 4.8 –16.0 –34.1 –5.8 –0.5 –28.0 –0.5 0.4 –1.9 –8.0 –0.8 –6.9 2.4 – 10.3 4.6 –0.4 –102.9 –26.8
9.9 –2.3 –0.1 –9.7 –0.9 –0.5 –5.2 2.3 21.2 8.6 3.0 0.0 –14.1 –0.2 –0.8 0.7 18.0 0.3 –3.0 –3.1 – –13.5 –1.0 0.0 –25.9 35.7
–58.2 –0.1 –2.2 –7.8 –0.3 –0.3 1.6 1.2 3.2 8.2 3.4 0.0 –0.7 –5.7 –0.3 –5.1 2.8 0.3 –1.9 –2.5 – –5.2 1.6 –0.0 –55.8 7.2
23.6 –3.7 11.7 0.4 –0.1 0.2 –2.2 –2.2 23.3 8.9 –2.1 – –27.6 2.6 –0.7 0.1 2.0 0.8 4.2 –0.5 – –2.9 –5.9 –0.0 14.6 2.6
–36.7 7.4 –5.9 1.5 0.7 0.3 –0.8 –0.2 –9.7 7.2 –1.4 –0.1 –6.0 –2.4 0.1 3.8 2.6 –0.6 –0.9 0.0 – –3.9 0.6 –0.0 –8.0 –20.6
Offshore centres Aruba Bahamas Bermuda Cayman Islands Hong Kong SAR Lebanon Netherlands Antilles Panama Singapore West Indies UK
27.4 – 1.2 0.1 14.5 6.0 – 2.4 0.1 2.9 0.0
33.5 – 1.2 0.1 14.6 7.5 – 5.5 0.1 4.2 0.0
41.5 – 2.5 0.0 15.0 11.9 – 5.5 0.4 6.1 0.0
21.7 – 0.9 0.0 9.6 4.2 – 3.9 0.0 3.0 0.0
26.1 – 2.2 0.0 10.1 7.7 – 1.0 0.3 4.7 0.0
–8.3 – –0.7 –0.0 –5.5 –1.0 – –0.9 – –0.2 –0.0
3.6 – 0.3 – –2.1 3.7 – 0.7 0.1 0.8 –0.0
1.1 – 0.2 – –0.8 1.6 – 0.0 0.0 –0.1 0.0
5.7 – –0.0 0.0 –0.1 1.4 – 3.0 –0.0 1.2 –0.0
7.7 – 1.3 –0.1 0.3 4.4 – –0.1 0.3 1.9 0.0
Developing countries
6.2
6.9
7.0
3.6
3.1
3.0
–3.0
–1.7
0.7
0.0
Africa & Middle East Israel Qatar South Africa Tunisia United Arab Emirates
0.2 – – – – 0.2
0.4 0.1 – 0.0 – 0.3
0.4 0.1 – 0.0 – 0.3
0.3 0.1 – 0.0 – 0.2
0.3 – – – – 0.3
–0.2 – – – – –0.1
–0.9 – – – – –0.9
–0.2 – – – – –0.2
0.2 0.1 – 0.0 – 0.1
–0.0 – – – – –0.0
Asia & Pacific China Chinese Taipei India Indonesia Malaysia Philippines South Korea Thailand
4.1 – – 0.0 – – – 4.1 –
4.4 – – 0.0 – – – 4.4 –
4.6 – – 0.0 – – – 4.5 –
2.4 – – – – – – 2.4 –
2.2 – – – – – – 2.1 –
3.4 – – – – – –0.1 3.5 –0.1
–2.6 – – 0.0 – – – –2.6 –
–1.7 – – – – – – –1.7 –
0.2 – – – – – – 0.2 –
0.2 – – – – – – 0.1 –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
–0.0 – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
1.8 0.1 1.8 – – 0.0 – – –
2.1 0.1 1.9 – – 0.1 – – –
1.9 0.1 1.8 – – 0.1 – – –
0.9 – 0.9 – – 0.1 – – –
0.6 – 0.6 – – 0.0 – – –
–0.2 –0.1 –0.2 – – 0.0 – – –
0.5 – 0.6 – – –0.1 – – –
0.2 – 0.2 – – –0.1 – – –
0.2 – 0.2 – – 0.1 – – –
–0.2 – –0.2 – – 0.0 – – –
11.0
19.2
15.9
15.6
12.7
–11.4
3.0
4.6
8.1
–3.3
Europe Croatia Hungary Poland Russia Turkey Latin America & Caribbean Argentina Brazil Chile Colombia Mexico Peru Uruguay Venezuela Int. organisations
A 120
BIS Quarterly Review, September 2011
Table 14B: International bonds and notes - all issuers By residence of issuer In billions of US dollars Countries
Amounts outstanding Dec 2010 Mar 2011 Jun 2011
Announced issues Q1 2011 Q2 2011
2009
2010
Net issues Q4 2010
Q1 2011
Q2 2011
All countries
26,771.8
28,062.8
28,675.4
1,523.4
1,343.3
2,570.1
1,498.9
351.0
450.9
315.6
Developed countries Australia Austria Belgium Canada Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Slovakia Spain Sweden Switzerland United Kingdom United States
23,229.7 539.7 350.4 302.4 653.9 13.2 129.9 136.9 1,804.6 1,946.9 329.6 32.6 1,169.9 1,134.2 181.4 421.5 1,848.8 12.6 202.3 182.8 11.7 1,434.9 343.7 28.5 3,494.9 6,503.2
24,370.2 548.5 370.5 337.5 681.1 14.4 149.7 155.6 1,960.9 2,057.6 355.1 32.5 1,187.3 1,220.3 182.6 436.9 1,965.6 14.7 224.3 197.4 14.2 1,569.5 369.2 35.7 3,636.8 6,627.2
24,866.6 566.1 377.1 343.2 708.6 15.7 152.3 164.0 2,026.0 2,133.1 369.0 32.8 1,194.4 1,249.6 177.6 442.8 2,025.5 15.1 236.1 189.6 15.9 1,601.4 386.7 37.0 3,708.1 6,674.3
1,311.2 30.5 19.5 16.8 40.6 0.5 15.8 18.5 139.5 141.1 6.5 – 14.7 57.8 12.2 19.3 91.6 2.0 24.9 8.4 1.7 90.8 39.3 6.9 149.1 358.6
1,151.7 31.7 12.4 9.5 41.8 2.0 7.6 13.1 109.1 121.3 11.4 2.1 19.8 43.7 3.9 17.0 100.3 0.6 24.2 1.5 1.4 44.0 32.1 1.0 163.8 336.4
2,353.2 61.9 21.5 56.4 72.2 3.1 32.2 21.2 294.1 –38.6 61.5 –10.6 132.5 121.1 –13.9 23.1 192.3 –1.5 20.2 46.5 2.7 183.6 79.4 0.2 251.3 733.4
1,239.4 37.2 –6.8 19.3 81.0 2.0 –5.9 15.8 136.8 –4.3 89.4 –8.4 –22.0 41.8 1.1 –12.7 104.4 1.9 24.0 15.3 4.2 69.3 29.5 1.6 55.3 565.6
295.3 5.5 –3.9 –3.1 28.0 1.4 –0.8 7.4 33.5 –18.1 23.0 –2.6 –7.1 19.4 –1.4 4.3 15.5 3.4 1.7 2.4 2.8 12.6 8.6 1.3 –29.2 190.9
347.7 0.1 1.8 16.7 15.5 0.5 13.7 11.5 59.9 11.1 4.9 –1.2 –42.5 17.9 2.5 0.1 27.6 2.0 15.5 3.1 1.7 47.0 10.9 6.2 31.7 84.9
228.2 9.2 –2.5 0.3 22.9 1.1 0.2 5.7 31.1 41.0 7.7 –0.0 –9.8 8.9 –9.1 –0.4 28.2 0.3 7.5 –11.2 1.4 5.4 12.2 –0.7 50.9 28.7
Offshore centres Aruba Bahamas Bermuda Cayman Islands Hong Kong SAR Lebanon Netherlands Antilles Panama Singapore West Indies UK
1,518.1 6.7 8.4 79.9 1,136.1 57.6 24.7 93.0 10.6 53.7 34.4
1,526.7 6.5 8.2 81.7 1,138.5 57.4 25.0 95.2 10.7 56.2 35.0
1,551.5 6.6 8.6 87.5 1,137.2 70.7 25.3 95.8 10.7 57.7 39.1
48.7 – 0.1 5.3 30.6 4.4 0.3 3.0 0.5 2.3 1.9
51.5 – 0.5 4.1 18.7 15.1 1.3 3.7 – 3.6 4.5
–1.0 –2.1 1.3 15.6 –0.6 –1.3 –0.4 –12.4 1.3 –2.2 –0.9
32.1 –0.0 –0.7 11.4 7.3 13.2 1.1 –10.5 –0.1 3.5 6.6
16.2 – –0.9 5.1 7.0 5.6 1.0 –2.9 –0.2 0.5 1.4
–3.1 –0.1 –0.2 1.4 –5.3 –0.3 0.3 –0.8 0.1 2.0 0.5
15.8 –0.0 0.4 5.5 –7.4 13.1 0.3 –0.9 –0.0 1.1 4.0
Developing countries
1,142.6
1,208.4
1,250.6
77.8
69.4
104.8
137.2
40.8
52.2
34.7
Africa & Middle East Israel Qatar South Africa Tunisia United Arab Emirates
154.4 16.5 25.7 27.2 3.4 54.5
162.1 16.6 25.6 33.6 3.5 54.8
161.4 16.0 24.9 34.1 2.9 57.6
8.1 – – 5.9 – 1.4
7.4 – – 0.7 – 6.2
22.8 0.6 10.5 1.0 –0.2 8.9
15.8 2.2 3.9 4.3 –0.4 0.7
5.3 0.1 –0.0 0.8 – 2.4
6.6 –0.1 –0.1 6.0 – 0.1
–1.2 –0.6 –0.7 0.3 –0.6 2.7
Asia & Pacific China Chinese Taipei India Indonesia Malaysia Philippines South Korea Thailand
309.0 24.1 6.9 28.5 22.9 27.5 39.0 132.1 8.1
323.4 27.0 7.6 27.5 22.4 27.7 41.0 140.1 8.4
333.5 27.4 8.7 26.4 26.6 27.9 42.2 144.1 8.0
22.1 2.7 0.8 1.8 0.2 0.3 3.7 10.3 0.3
24.4 1.4 1.1 0.9 4.1 3.6 1.1 10.7 –
26.4 2.4 –3.7 0.2 5.6 –0.5 4.4 16.3 –0.5
26.2 –0.8 1.2 –2.2 3.6 2.7 2.7 13.2 –0.7
12.6 2.0 0.5 –0.6 0.4 –0.3 1.1 4.0 –0.1
13.7 2.6 0.7 –0.9 –0.4 0.2 2.0 7.5 0.3
8.5 0.3 1.1 –1.2 4.1 0.1 1.1 3.0 –0.5
Europe Croatia Hungary Poland Russia Turkey
273.5 7.6 35.2 57.4 65.7 48.5
295.9 8.2 39.5 60.7 70.4 52.3
311.1 8.2 40.4 64.1 73.4 53.3
21.9 1.7 3.8 2.1 5.8 3.9
18.7 1.1 2.7 2.4 4.2 1.5
17.2 1.3 –0.1 8.7 –2.3 1.6
30.8 0.5 –1.1 6.7 4.8 6.5
4.4 – –0.6 –1.0 1.8 1.7
14.1 0.3 2.6 0.7 4.1 2.9
11.6 – 0.3 2.0 2.5 0.8
Latin America & Caribbean Argentina Brazil Chile Colombia Mexico Peru Uruguay Venezuela
405.7 56.2 115.7 22.2 22.3 93.2 19.4 9.2 48.1
427.0 58.8 120.1 24.3 24.1 98.8 20.2 8.6 51.4
444.5 59.3 131.0 24.6 24.5 104.8 20.2 9.1 50.7
25.7 1.3 7.9 2.3 1.6 7.3 0.8 – 3.0
18.9 0.7 11.2 0.3 1.3 4.8 – 0.5 –
38.4 –4.5 12.8 1.8 4.6 13.3 3.4 0.3 9.3
64.4 2.6 26.0 7.3 0.3 16.0 6.1 –0.0 5.2
18.5 0.9 8.1 2.6 –0.5 0.6 3.6 – 3.2
17.8 1.3 3.7 2.1 1.6 4.9 0.8 –0.8 3.2
15.8 0.1 10.2 0.2 0.4 5.5 –0.0 0.4 –0.8
Int. organisations
881.4
957.5
1,006.7
85.7
70.6
113.0
90.2
–1.3
54.1
37.0
BIS Quarterly Review, September 2011
A 121
Table 15A: International money market instruments - all issuers By nationality of issuer In billions of US dollars Countries
Amounts outstanding Dec 2010 Mar 2011 Jun 2011
Gross issuance Q1 2011 Q2 2011
2009
2010
Net issues Q4 2010
Q1 2011
Q2 2011
All countries
915.8
982.2
958.7
669.2
619.3
–237.5
13.4
–54.3
38.0
–32.3
Developed countries Australia Austria Belgium Canada Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Slovakia Spain Sweden Switzerland United Kingdom United States
877.2 31.1 12.4 18.3 3.5 1.7 11.9 12.3 117.8 122.0 7.4 0.1 43.5 40.5 19.6 4.2 91.7 0.4 4.8 9.2 – 60.1 47.8 10.5 96.8 109.6
933.0 30.5 25.1 16.6 3.8 2.0 10.4 13.1 157.2 132.7 3.8 0.1 22.4 43.7 22.4 4.0 95.3 1.3 9.0 9.9 – 62.6 40.3 12.3 101.6 113.0
905.2 35.4 19.9 15.0 3.5 2.3 8.0 11.6 151.7 141.0 1.4 – 16.2 42.8 21.9 6.4 100.9 0.6 8.4 9.1 – 56.8 42.2 14.3 103.2 92.5
634.1 21.6 18.9 10.6 3.3 0.2 9.2 8.3 125.0 97.7 1.3 0.0 17.0 37.7 18.7 3.0 61.0 1.1 6.8 8.4 – 51.9 29.3 10.0 61.3 31.6
580.2 27.6 12.1 12.3 3.1 0.7 6.4 9.7 99.1 103.1 0.2 – 11.0 33.0 17.9 4.1 51.3 0.6 6.3 7.2 – 43.5 33.0 11.0 62.0 24.9
–218.1 –0.7 –15.3 2.4 0.8 0.3 –4.4 4.0 –6.5 –46.5 –11.2 1.0 –16.1 –13.9 0.5 –2.5 –2.3 0.1 –7.3 4.8 – 20.9 4.9 –6.0 –82.8 –42.5
11.0 3.1 –0.5 –8.2 –1.9 0.8 –5.3 0.3 17.8 11.8 3.9 –1.7 –4.8 –3.2 1.3 0.9 7.5 0.2 –2.7 –14.6 – –22.2 3.5 –1.5 –13.9 40.5
–57.5 8.7 –2.2 –7.2 –1.5 –0.3 –2.4 0.9 –4.2 –0.1 3.4 –0.2 7.5 –20.4 0.5 –0.6 0.4 0.3 –4.2 –5.6 – –15.7 1.2 1.5 –25.4 8.1
28.0 –0.9 12.2 –2.5 0.2 0.2 –1.7 0.5 34.8 7.1 –3.9 0.0 –22.7 1.0 2.4 –0.2 0.8 0.8 4.1 0.3 – –0.7 –8.8 1.6 0.9 2.6
–36.4 4.7 –5.4 –1.7 –0.3 0.3 –2.5 –1.6 –7.0 7.0 –2.5 –0.1 –6.6 –1.7 –0.7 2.3 4.8 –0.7 –0.7 –0.9 – –6.7 1.6 1.9 0.6 –20.7
Offshore centres Aruba Bahamas Bermuda Cayman Islands Hong Kong SAR Lebanon Netherlands Antilles Panama Singapore West Indies UK
13.6 – – – 9.4 1.2 – – – 1.4 –
14.5 – – – 8.7 1.4 – – – 2.9 0.0
16.7 – – – 8.3 2.1 – – – 4.9 0.0
12.3 – – – 7.9 0.7 – – – 2.4 0.0
14.0 – – – 7.4 1.3 – – – 3.9 0.0
–8.9 – –0.0 – –0.8 –0.3 – – – 0.2 –0.0
0.5 – –0.0 – –0.2 0.9 – – – 0.4 –0.0
–0.2 – – – –0.7 0.6 – – – –0.1 –
0.8 – – – –0.8 0.2 – – – 1.5 0.0
2.1 – – – –0.5 0.7 – – – 2.0 0.0
Developing countries
14.0
15.4
20.9
7.1
12.3
0.9
–1.1
–1.2
1.2
5.4
Africa & Middle East Israel Qatar South Africa Tunisia United Arab Emirates
0.5 0.0 – 0.2 – 0.3
0.6 0.1 – 0.1 – 0.5
0.9 0.3 – 0.1 – 0.5
0.5 0.1 – 0.0 – 0.3
0.7 0.2 – 0.1 – 0.4
–0.8 – – –0.7 – –0.1
–0.8 0.0 – 0.1 – –0.9
–0.2 – – –0.0 – –0.1
0.1 0.1 – –0.2 – 0.2
0.3 0.2 – 0.1 – 0.0
Asia & Pacific China Chinese Taipei India Indonesia Malaysia Philippines South Korea Thailand
8.5 2.8 0.0 0.1 – 0.5 – 5.0 –
9.8 3.9 0.0 0.1 – 0.4 – 5.5 –
13.8 7.8 0.0 0.0 – 0.2 – 5.7 –
4.6 1.5 0.0 – – – – 3.1 –
8.2 5.2 0.0 – – 0.1 – 2.9 –
3.9 –0.4 –0.0 0.1 0.0 0.4 –0.1 4.1 –0.1
–0.5 2.1 –0.0 0.1 –0.0 –0.0 – –2.6 –
–0.5 1.3 0.0 –0.0 – 0.0 – –1.8 –
1.3 1.0 0.0 –0.1 – –0.1 – 0.4 –
3.9 3.9 –0.0 –0.0 – –0.2 – 0.1 –
Europe Croatia Hungary Poland Russia Turkey
1.2 – – – 1.2 –
1.2 – – – 1.2 –
1.6 – – – 1.6 –
0.0 – – – 0.0 –
0.5 – – – 0.5 –
–0.0 – – – –0.0 –
–0.3 – – – –0.3 –
–0.3 – – – –0.3 –
0.0 – – – 0.0 –
0.4 – – – 0.4 –
Latin America & Caribbean Argentina Brazil Chile Colombia Mexico Peru Uruguay Venezuela
3.9 0.1 2.8 – 0.1 0.8 – – –
3.6 0.1 2.7 – 0.1 0.8 – – –
4.5 0.1 3.3 – 0.4 0.8 – – –
2.1 – 1.3 – 0.0 0.7 – – –
3.0 – 1.9 – 0.3 0.7 – – –
–2.2 –0.1 –2.1 – – –0.1 – – –
0.5 – 0.3 – 0.1 0.1 – – –
–0.2 – –0.1 – 0.0 –0.1 – – –
–0.2 – –0.2 – –0.0 –0.0 – – –
0.9 – 0.6 – 0.3 0.0 – – –
11.0
19.2
15.9
15.6
12.7
–11.4
3.0
4.6
8.1
–3.3
Int. organisations
A 122
BIS Quarterly Review, September 2011
Table 15B: International bonds and notes - all issuers By nationality of issuer In billions of US dollars Countries
Amounts outstanding Dec 2010 Mar 2011 Jun 2011
Announced issues Q1 2011 Q2 2011
2009
2010
Net issues Q4 2010
Q1 2011
Q2 2011
All countries
26,771.8
28,062.8
28,675.4
1,523.4
1,343.3
2,570.1
1,498.9
351.0
450.9
315.6
Developed countries Australia Austria Belgium Canada Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Slovakia Spain Sweden Switzerland United Kingdom United States
24,092.4 572.0 335.4 574.0 647.5 13.6 144.7 132.4 1,879.4 2,625.2 421.5 41.3 491.8 1,318.5 400.2 90.8 1,252.4 13.8 204.2 265.0 11.9 1,723.1 359.3 455.7 3,024.8 7,073.4
25,223.6 582.5 351.3 615.9 673.2 13.3 160.3 148.9 2,053.0 2,744.2 446.0 41.9 511.7 1,420.5 401.7 99.9 1,337.4 15.8 225.8 280.4 14.5 1,884.7 392.7 479.5 3,114.3 7,188.0
25,707.6 601.4 355.3 625.7 701.0 15.1 164.3 152.5 2,118.3 2,815.4 454.9 42.9 514.5 1,456.1 393.8 104.0 1,388.6 15.8 233.7 273.8 15.9 1,939.6 416.4 483.1 3,167.3 7,231.9
1,323.0 25.9 15.2 29.5 38.1 0.2 10.7 16.9 150.8 156.5 6.6 0.6 7.1 69.5 20.9 9.9 72.8 2.0 24.9 10.7 1.7 116.9 46.9 21.8 120.0 342.2
1,150.9 35.1 10.1 19.5 41.1 2.0 8.6 8.5 114.6 133.6 14.3 3.1 2.4 56.1 10.3 5.2 75.4 0.1 20.6 1.8 1.4 70.4 38.0 16.2 123.0 339.4
2,303.1 64.4 18.8 82.1 65.1 5.0 29.4 22.6 258.0 –16.1 79.3 –9.5 94.7 133.0 –9.2 –3.3 121.7 1.7 20.0 47.0 2.7 152.2 74.8 53.3 357.4 649.6
1,181.9 35.5 –4.7 48.5 78.1 1.0 –2.6 14.3 80.8 –58.8 81.5 –6.4 –9.8 36.9 –1.2 0.4 109.9 4.3 25.2 17.0 4.2 83.9 21.8 21.2 105.5 490.9
273.6 4.4 –3.3 –4.2 24.6 0.1 1.0 3.7 32.3 –46.9 20.8 –2.9 2.6 18.9 –0.3 –0.1 12.1 3.4 2.7 1.4 2.8 10.6 9.2 –13.1 8.4 185.5
332.7 1.4 –1.5 10.6 13.9 –1.1 8.7 9.7 74.1 –7.2 –1.5 –0.7 –5.9 25.5 1.5 5.3 26.5 1.8 15.0 –0.6 1.7 62.3 17.8 10.1 0.7 60.0
210.1 11.2 –4.7 –0.3 23.0 1.6 1.4 1.1 30.3 26.6 1.2 0.6 –4.6 12.8 –15.9 2.9 29.0 –0.1 3.7 –11.3 1.2 25.6 18.1 –4.7 40.3 22.1
Offshore centres Aruba Bahamas Bermuda Cayman Islands Hong Kong SAR Lebanon Netherlands Antilles Panama Singapore West Indies UK
266.5 0.2 1.3 10.8 56.4 84.4 24.9 – 10.0 55.8 0.3
260.4 0.2 1.3 11.3 50.7 82.1 25.2 – 10.1 57.4 0.3
266.0 0.2 1.3 12.2 49.3 84.7 25.5 – 10.1 59.3 0.6
6.8 – – 0.4 0.2 2.8 0.3 – 0.5 2.4 –
10.9 – – 0.8 0.7 3.6 1.3 – – 3.1 0.4
21.3 – 0.6 3.1 6.7 10.8 –0.4 – 1.3 –0.8 –0.0
13.2 – – 3.2 –2.0 7.1 1.3 – –0.2 3.5 –0.3
3.0 – – 0.6 –1.5 3.0 1.0 – –0.2 0.7 –
–9.0 – – 0.4 –7.0 –2.8 0.3 – 0.1 1.1 –
3.9 – – 0.8 –2.1 2.4 0.3 – – 1.4 0.4
Developing countries
1,531.2
1,621.1
1,694.8
108.0
110.9
132.4
213.6
75.7
73.1
64.6
Africa & Middle East Israel Qatar South Africa Tunisia United Arab Emirates
229.7 23.9 33.9 44.7 3.4 85.3
245.3 24.7 33.9 53.2 3.5 90.5
245.5 24.5 33.2 54.5 2.9 93.4
16.1 1.1 – 7.8 – 6.3
9.8 0.1 – 1.6 – 6.6
37.7 0.6 13.6 1.4 –0.2 19.2
30.8 4.7 8.7 5.7 –0.4 4.8
13.2 0.1 4.2 1.1 – 5.1
13.6 0.6 –0.1 7.5 – 4.7
–0.5 –0.3 –0.7 1.0 –0.6 2.6
Asia & Pacific China Chinese Taipei India Indonesia Malaysia Philippines South Korea Thailand
447.4 72.6 10.5 50.4 36.7 40.3 39.9 138.0 10.3
471.9 82.8 11.3 52.3 36.2 40.7 41.9 146.8 10.6
509.8 104.5 12.1 57.7 39.9 41.3 43.1 151.2 11.2
36.5 12.0 0.9 4.6 0.4 1.2 3.7 11.3 1.0
56.0 24.3 1.1 7.3 4.1 4.4 1.1 12.1 0.4
29.7 1.7 –4.2 1.6 8.7 0.2 4.4 16.5 –1.1
66.4 23.5 1.4 4.7 4.3 5.8 3.4 15.0 1.2
31.9 10.5 0.8 5.8 1.3 0.4 1.1 4.8 1.1
23.5 10.0 0.8 1.8 –0.4 0.4 2.0 8.3 0.3
35.5 21.3 0.8 5.2 3.6 0.2 1.1 3.3 0.7
Europe Croatia Hungary Poland Russia Turkey
382.9 7.6 36.2 62.9 155.7 57.2
408.0 8.2 40.6 66.5 161.4 60.9
424.0 8.2 41.7 70.8 166.1 61.0
24.6 1.7 3.8 2.1 6.5 3.9
22.8 1.1 2.8 3.3 7.8 1.0
18.8 1.9 0.9 10.1 –4.9 1.4
54.0 0.5 –0.9 8.7 25.3 6.5
18.0 – –0.5 0.7 13.8 1.7
15.2 0.3 2.6 0.7 4.1 2.8
12.0 – 0.6 2.8 4.0 –0.2
Latin America & Caribbean Argentina Brazil Chile Colombia Mexico Peru Uruguay Venezuela
471.2 53.8 172.4 16.2 24.2 105.1 18.7 9.2 48.6
495.8 56.4 183.7 17.9 25.7 108.9 19.5 8.5 51.4
515.6 56.7 197.1 18.1 26.1 114.7 19.6 9.0 50.7
30.8 1.3 16.0 1.8 1.2 5.4 0.8 – 3.0
22.2 0.6 14.8 0.3 1.3 4.6 – 0.5 –
46.2 –1.4 21.7 1.2 5.0 8.7 2.8 0.4 9.6
62.4 2.2 33.6 5.0 0.8 8.8 5.2 –0.0 5.5
12.6 0.7 6.6 1.9 0.2 –3.4 3.0 – 3.2
20.8 1.2 10.4 1.6 1.2 2.7 0.8 –0.8 2.7
17.7 –0.1 12.5 0.2 0.4 5.2 0.0 0.4 –0.8
Int. organisations
881.7
957.8
1,007.0
85.7
70.6
113.3
90.2
–1.3
54.1
37.0
BIS Quarterly Review, September 2011
A 123
Table 16A: Domestic debt securities By sector and residence of issuer In billions of US dollars Amounts outstanding
Changes in stocks
Sector and country
Dec 2008
Dec 2009
Dec 2010
Mar 2011
2009
2010
Q2 2010
Q3 2010
Q4 2010
Q1 2011
All issuers Argentina Australia Austria Belgium Brazil Canada China Czech Republic Denmark Finland France Germany Greece Hong Kong SAR India Indonesia Ireland Italy Japan Malaysia Mexico Netherlands Norway Poland Portugal Singapore South Africa South Korea Spain Sweden Switzerland Thailand Turkey United Kingdom United States
58,582.9 66.2 639.6 328.3 477.8 858.8 1,033.9 2,209.5 65.2 591.1 88.5 2,885.4 2,592.8 224.3 50.2 426.7 70.7 275.5 2,813.0 11,052.1 172.7 319.5 945.8 135.9 152.0 197.7 96.4 93.8 863.5 1,360.7 346.1 259.0 143.4 180.6 1,219.3 24,559.8
63,406.1 57.3 874.9 364.7 585.8 1,237.2 1,304.3 2,565.4 80.3 691.2 93.2 3,146.0 2,806.7 227.6 99.9 603.1 97.7 315.3 3,191.0 11,521.5 189.1 362.8 1,005.5 238.3 183.7 230.9 113.0 140.4 1,066.1 1,560.8 371.1 259.5 180.4 221.7 1,548.8 24,966.2
67,137.7 58.9 1,046.1 362.4 546.7 1,456.7 1,466.4 3,031.4 77.4 659.9 87.4 3,131.4 2,615.6 256.5 65.5 708.5 96.2 303.1 2,998.4 13,733.9 272.6 429.0 978.6 245.6 202.0 261.5 127.5 188.9 1,111.0 1,475.2 412.3 291.0 225.5 231.2 1,666.6 25,210.9
68,716.7 60.4 1,084.9 383.1 575.8 1,527.7 1,534.7 3,047.7 87.6 613.2 84.6 3,421.5 2,814.6 275.0 64.7 711.1 96.7 344.6 3,236.4 13,575.1 277.8 451.2 1,048.6 259.6 230.1 275.9 130.7 185.6 1,175.0 1,576.1 444.9 292.1 228.1 232.5 1,727.1 25,475.3
3,270.6 –5.3 42.2 22.7 87.2 69.4 84.8 331.2 12.1 95.0 2.4 144.4 107.4 –4.7 49.7 154.1 13.7 –16.6 258.9 614.2 14.1 30.8 26.1 66.6 23.3 25.2 13.5 20.1 118.5 142.9 –6.9 –9.5 29.3 35.5 182.5 406.4
2,662.9 3.2 50.9 23.1 2.9 177.4 100.0 376.4 –1.5 17.8 0.5 215.1 12.3 45.6 –34.2 78.2 –6.1 11.3 39.2 649.3 60.6 44.6 44.7 10.1 25.3 46.5 4.1 29.8 16.5 27.0 17.2 5.6 24.7 17.2 168.3 244.7
781.7 1.5 6.2 11.0 –0.6 –15.7 30.0 181.5 1.8 11.2 3.6 44.3 –17.2 1.7 5.8 23.5 –0.2 –10.1 12.2 289.7 15.9 14.7 20.4 4.2 3.2 14.0 1.9 10.0 0.6 –14.4 2.6 6.6 7.7 1.9 14.6 90.6
750.5 0.9 6.1 8.0 9.3 39.9 11.8 87.1 4.9 21.3 2.6 27.0 28.6 9.6 –55.5 26.8 –0.1 9.6 –0.5 36.2 13.6 3.7 1.5 2.9 7.6 12.8 –2.3 3.5 5.0 27.8 9.0 –9.7 3.2 4.4 61.5 288.4
808.6 0.6 28.6 11.3 –0.7 144.6 37.3 27.1 –1.7 70.3 –0.1 –0.1 –1.7 30.5 3.7 – –10.4 0.4 –12.3 139.0 23.5 10.6 11.9 2.2 –3.7 20.4 3.4 9.9 –12.4 41.2 0.6 5.5 5.9 3.7 14.3 178.4
653.7 2.3 20.6 –2.1 –5.3 25.4 24.0 –14.4 3.5 –89.0 –8.1 88.5 32.3 2.2 –0.7 – –2.5 21.5 46.5 120.0 – 8.2 7.8 –1.5 17.6 –2.1 0.6 1.0 24.9 7.4 4.9 –6.6 3.6 1.1 13.8 264.4
Governments Argentina Australia Austria Belgium Brazil Canada China Czech Republic Denmark Finland France Germany Greece Hong Kong SAR India Indonesia Ireland Italy Japan Malaysia Mexico Netherlands Norway Poland Portugal Singapore South Africa South Korea Spain Sweden Switzerland Thailand Turkey United Kingdom United States
29,448.2 54.4 109.3 110.6 279.4 545.8 675.1 1,416.5 45.4 85.4 24.0 1,436.8 1,364.3 181.5 21.0 387.6 63.8 60.7 1,779.7 9,113.2 76.6 174.6 374.5 49.5 147.8 86.9 72.7 57.2 337.5 448.9 112.7 119.8 97.3 180.2 825.8 7,898.5
34,088.4 46.7 230.5 132.6 297.6 803.7 908.8 1,459.8 55.9 97.5 28.3 1,693.3 1,547.6 181.1 69.8 530.5 87.8 54.0 1,972.8 9,654.2 94.0 210.0 381.1 94.7 176.6 98.8 88.1 86.5 425.6 603.5 118.9 113.1 125.5 221.3 1,188.9 9,471.8
39,070.3 49.4 342.6 135.1 288.3 949.0 1,024.8 1,622.8 51.9 99.4 33.0 1,661.7 1,724.5 159.1 30.7 608.3 84.6 65.4 1,933.5 11,632.3 128.9 247.0 385.7 98.5 193.6 114.8 102.8 124.4 475.1 629.4 132.3 125.5 166.1 228.9 1,343.9 11,151.7
40,015.5 51.3 369.7 145.1 301.0 983.1 1,068.5 1,500.8 59.9 106.4 26.2 1,834.0 1,817.7 164.7 30.2 610.4 84.4 65.4 2,094.2 11,579.9 131.3 261.1 416.7 101.2 220.5 104.5 105.5 122.6 512.8 707.0 136.0 126.9 164.9 229.4 1,394.8 11,403.4
3,844.0 –4.2 74.8 17.1 7.1 59.7 107.5 19.4 8.5 10.2 3.9 195.0 126.5 –6.7 48.8 123.2 12.1 –13.1 118.2 657.4 16.0 27.6 –5.1 31.7 20.6 8.5 13.1 13.2 52.4 134.5 –3.8 –10.2 22.8 35.5 262.9 1,573.3
3,874.5 4.3 73.3 11.1 12.5 119.1 72.6 114.0 –3.3 9.1 6.4 89.8 290.6 –8.4 –38.9 54.1 –7.4 15.1 103.4 657.8 23.7 24.5 31.8 4.9 23.7 22.6 6.4 25.6 37.6 68.7 6.2 1.2 25.9 15.2 192.3 1,679.9
1,016.2 1.7 18.3 10.7 –2.0 –25.0 20.7 104.6 1.7 6.0 4.0 53.3 44.1 –12.8 5.6 22.5 –0.3 2.8 25.3 251.0 1.7 9.9 13.1 2.3 1.5 7.7 1.1 7.9 4.5 23.2 0.2 3.7 6.8 1.6 38.6 356.4
635.3 1.2 18.4 5.6 2.5 25.5 10.7 4.4 4.8 1.6 2.9 –2.5 13.1 3.4 –56.8 20.8 0.1 8.5 23.4 18.4 2.3 –1.2 3.3 0.6 7.9 7.4 – 2.6 8.2 10.4 –4.2 –9.3 5.8 3.1 47.2 399.9
1,044.7 0.7 15.7 3.6 8.0 117.3 25.8 –13.1 –3.1 –4.1 3.0 1.7 204.9 1.5 1.4 – –11.9 –4.5 1.5 149.0 14.8 4.7 9.2 0.4 –3.7 8.6 3.2 8.9 –7.8 36.7 6.1 3.1 5.3 3.5 22.2 407.1
520.5 2.6 20.8 1.4 –5.3 4.7 12.8 –137.9 3.5 0.1 –8.5 64.7 –15.2 –4.2 –0.5 – –2.9 –4.0 36.9 184.5 – 6.0 6.4 –3.5 16.8 –16.9 0.6 1.0 20.8 36.4 –4.9 –2.0 –0.4 0.3 13.2 251.7
A 124
BIS Quarterly Review, September 2011
Table 16B: Domestic debt securities By sector and residence of issuer In billions of US dollars Amounts outstanding Sector and country Financial institutions Argentina Australia Austria Belgium Brazil Canada China Czech Republic Denmark Finland France Germany Greece Hong Kong SAR India Indonesia Ireland Italy Japan Malaysia Mexico Netherlands Norway Poland Portugal Singapore South Africa South Korea Spain Sweden Switzerland Thailand Turkey United Kingdom United States Corporate issuers Argentina Australia Austria Belgium Brazil Canada China Czech Republic Denmark Finland France Germany Greece Hong Kong SAR India Indonesia Ireland Italy Japan Malaysia Mexico Netherlands Norway Poland Portugal Singapore South Africa South Korea Spain Sweden Switzerland Thailand Turkey United Kingdom United States
Changes in stocks
Dec 2008
Dec 2009
Dec 2010
Mar 2011
2009
2010
Q2 2010
Q3 2010
Q4 2010
Q1 2011
23,374.0 4.0 500.5 185.8 176.9 306.2 249.2 607.5 14.5 503.7 52.9 1,159.8 928.6 16.8 19.3 31.2 3.3 214.9 675.6 1,172.3 40.4 119.9 492.4 65.3 4.2 68.9 18.1 23.1 307.9 890.4 200.0 124.4 3.1 – 377.8 13,748.2
23,120.8 3.2 606.1 191.6 257.9 423.8 252.2 751.9 16.5 592.0 52.6 1,174.7 914.4 17.9 18.6 53.2 4.8 258.9 782.6 1,084.5 34.5 123.7 509.7 116.5 7.1 85.4 22.1 32.2 331.0 934.4 217.3 124.6 3.3 – 338.0 12,717.7
21,396.9 3.0 659.3 183.3 235.1 497.1 273.8 886.5 16.3 559.1 42.5 1,182.5 539.1 97.3 22.9 75.3 5.3 235.0 701.1 1,201.2 58.7 146.5 472.9 120.4 8.4 101.4 22.7 36.0 255.3 823.1 247.2 135.8 1.5 – 301.8 11,179.2
21,822.8 2.8 669.3 191.9 250.0 534.2 288.4 974.6 17.7 505.4 45.0 1,300.6 593.6 110.2 24.6 75.5 5.7 276.4 761.7 1,127.5 59.8 152.2 507.0 129.5 9.7 119.3 23.2 35.1 257.7 844.8 273.2 135.2 3.2 – 311.6 11,134.7
–888.8 –0.7 –32.5 –1.4 72.4 8.8 –36.5 143.8 1.3 85.1 –2.0 –32.1 –51.9 0.3 –0.7 20.1 0.9 –3.4 76.5 –70.4 –6.2 0.0 0.2 33.7 2.7 13.6 3.2 2.8 –0.7 7.2 –0.8 –4.7 0.1 – –83.7 –1,030.5
–1,620.6 –0.2 –23.1 5.8 –4.9 57.8 9.9 108.7 0.2 8.8 –6.3 95.7 –311.5 79.0 4.4 19.3 0.3 –4.3 –24.5 –24.3 19.7 15.5 0.1 5.2 1.6 21.9 –1.2 0.1 –82.7 –43.2 15.2 –0.7 –2.0 – –23.8 –1,538.6
–345.0 –0.2 –11.5 –0.8 0.4 9.0 5.8 28.1 0.1 5.2 –1.1 –2.6 –64.3 40.4 0.2 –4.3 0.0 –13.5 –5.5 16.6 11.0 3.7 –0.1 1.6 1.7 4.8 1.0 1.2 –21.4 –37.9 1.9 1.3 0.3 – –23.9 –295.9
37.8 –0.0 –13.1 –0.2 10.7 14.4 –2.5 39.1 0.1 19.8 –0.9 11.4 17.1 6.2 1.2 3.4 –0.2 0.9 –6.9 20.1 5.5 4.4 0.3 3.0 –0.2 5.4 –2.2 –0.1 –19.9 17.2 13.8 –1.6 –1.8 – 14.5 –118.0
–321.0 –0.1 11.9 6.8 –7.4 26.8 4.7 17.2 –0.1 74.3 –2.3 0.1 –217.2 29.0 2.3 – 0.7 5.3 –12.4 –33.6 3.3 4.1 1.8 1.1 –0.0 11.5 0.7 0.2 –17.9 4.8 –2.8 1.5 0.1 – –7.9 –229.7
20.3 –0.2 –1.1 –3.0 – 21.3 6.2 78.8 –0.0 –89.0 –0.1 41.7 19.7 6.5 1.7 – 0.2 25.5 15.7 –49.9 – 0.9 4.0 1.4 0.8 11.0 – – –6.4 –29.1 9.1 –4.2 1.6 – 1.3 –44.5
5,760.7 7.8 29.8 31.9 21.5 6.7 109.6 185.5 5.3 2.0 11.5 288.8 299.9 25.9 9.9 7.9 3.6 – 357.8 766.6 55.7 25.0 78.9 21.1 – 41.9 5.5 13.4 218.1 21.4 33.4 14.8 43.0 0.5 15.7 2,913.0
6,196.9 7.5 38.3 40.5 30.3 9.8 143.2 353.7 7.8 1.7 12.4 278.1 344.7 28.5 11.6 19.3 5.1 2.3 435.6 782.7 60.5 29.2 114.7 27.0 – 46.7 2.8 21.6 309.5 22.9 34.9 21.8 51.6 0.4 21.9 2,776.6
6,670.5 6.5 44.2 43.9 23.3 10.6 167.7 522.1 9.2 1.4 12.0 287.3 352.1 0.1 11.9 25.0 6.2 2.7 363.8 900.4 85.1 35.5 120.0 26.6 – 45.4 2.0 28.6 380.6 22.7 32.8 29.7 57.9 2.3 21.0 2,880.0
6,878.5 6.4 45.9 46.1 24.8 10.4 177.8 572.2 10.0 1.4 13.3 286.9 403.3 0.1 10.0 25.1 6.7 2.8 380.5 867.7 86.7 38.0 124.9 28.8 – 52.1 2.0 27.9 404.6 24.2 35.7 30.1 60.1 3.1 20.7 2,937.2
315.4 –0.3 –0.1 7.0 7.8 0.9 13.8 168.0 2.3 –0.3 0.4 –18.5 32.7 1.7 1.7 10.8 0.8 – 64.1 27.2 4.2 3.2 30.9 1.2 – 3.1 –2.7 4.1 66.7 1.1 –2.4 5.4 6.4 –0.1 3.3 –136.4
409.0 –0.9 0.7 6.3 –4.7 0.5 17.5 153.6 1.6 –0.2 0.4 29.7 33.2 –25.0 0.4 4.7 0.9 0.5 –39.8 15.8 17.2 4.6 12.8 –0.1 – 1.9 –1.0 4.0 61.7 1.5 –4.2 5.1 0.8 1.9 –0.2 103.4
110.5 0.0 –0.6 1.2 1.1 0.2 3.6 48.8 – –0.0 0.6 –6.4 2.9 –25.8 0.0 5.2 0.1 0.6 –7.6 22.2 3.2 1.2 7.5 0.3 – 1.5 –0.1 0.9 17.5 0.3 0.4 1.7 0.7 0.3 –0.1 30.0
77.4 –0.2 0.8 2.6 –4.0 –0.0 3.5 43.6 – –0.1 0.7 18.0 –1.6 0.0 0.1 2.6 – 0.2 –17.0 –2.3 5.8 0.5 –2.1 –0.7 – – –0.0 1.0 16.7 0.2 –0.7 1.2 –0.8 1.3 –0.3 6.5
85.0 0.1 1.0 1.0 –1.3 0.5 6.9 23.0 1.6 0.1 –0.8 –1.9 10.6 –0.0 –0.1 – 0.8 –0.5 –1.4 23.7 5.4 1.8 0.9 0.6 – 0.3 –0.5 0.7 13.3 –0.3 –2.8 0.9 0.5 0.3 0.0 0.9
112.9 –0.2 0.9 –0.6 – –0.5 5.0 44.6 – –0.1 0.6 –17.9 27.8 – –2.0 – 0.2 –0.0 –6.1 –14.6 – 1.3 –2.6 0.5 – 3.8 – – 10.5 0.1 0.7 –0.4 2.4 0.8 –0.8 57.2
BIS Quarterly Review, September 2011
A 125
Table 17A: Domestic debt securities With remaining maturity up to one year / Amounts outstanding by sector and residence of issuer In billions of US dollars Countries
Dec 2007
Dec 2008
All countries Australia Austria Belgium Brazil Canada China Czech Republic Denmark Finland France Germany Greece Hong Kong SAR India Ireland Italy Japan Malaysia Mexico Netherlands New Zealand Norway Poland Portugal Singapore South Africa South Korea Spain Sweden Switzerland Thailand Turkey United Kingdom United States
14,982.7 541.2 18.9 125.5 596.2 327.4 659.4 11.3 90.7 62.2 930.9 1,027.1 18.4 30.4 73.6 130.2 383.5 2,516.1 28.0 103.7 56.2 4.1 24.7 12.5 42.5 42.8 19.9 432.0 252.9 80.3 29.9 52.0 8.2 516.9 5,403.9
16,457.2 414.0 20.0 127.4 536.4 293.7 907.1 12.4 89.4 61.7 1,002.0 1,214.2 29.6 27.8 68.8 97.4 458.1 3,155.7 25.4 89.8 145.7 3.2 25.9 20.5 50.7 37.0 22.7 349.4 255.7 67.2 35.6 52.3 9.4 503.9 5,968.6
All countries Australia Austria Belgium Brazil Canada China Czech Republic Denmark Finland France Germany Greece Hong Kong SAR India Ireland Italy Japan Malaysia Mexico Netherlands New Zealand Norway Poland Portugal Singapore South Africa South Korea Spain Sweden Switzerland Thailand Turkey United Kingdom United States
6,798.8 19.2 13.4 83.1 337.5 139.5 561.6 11.3 16.6 12.5 271.5 272.7 18.4 11.4 32.1 3.0 359.5 2,080.5 1.3 66.9 56.2 4.1 9.1 12.5 13.8 27.3 13.2 144.2 93.7 28.8 15.9 49.8 8.0 83.3 1,636.3
8,528.7 19.3 12.4 83.7 223.4 173.8 789.2 12.4 10.5 11.5 333.6 270.0 29.6 13.9 29.7 9.4 434.5 2,627.6 1.2 55.1 145.7 3.2 15.4 20.5 19.3 31.8 17.3 66.4 117.0 18.9 21.3 50.0 9.2 125.8 2,480.1
All issuers Dec 2009 Dec 2010 16,501.5 479.2 17.3 141.1 724.1 319.3 881.4 11.6 148.2 64.6 1,000.6 1,345.9 27.1 74.6 101.4 88.4 468.2 2,981.5 18.9 138.5 113.1 7.9 59.5 31.0 62.3 49.6 25.4 426.7 305.1 52.7 32.1 69.3 13.4 459.1 5,433.1
Dec 2007
16,888.4 505.5 13.3 127.1 899.6 314.5 975.6 10.6 171.9 57.0 926.7 936.7 26.3 40.2 127.3 92.1 429.8 3,791.7 30.5 117.3 103.5 8.7 58.0 34.6 58.4 59.3 31.9 391.4 241.1 38.9 34.3 94.0 7.8 477.4 5,359.0
17,079.7 504.4 6.0 131.6 938.4 310.5 836.8 13.0 155.4 56.5 975.4 1,044.9 30.1 40.2 127.8 103.0 472.0 3,711.6 31.1 119.4 110.6 8.2 56.9 45.6 64.5 61.1 32.2 366.6 248.3 43.7 33.5 91.8 6.7 504.3 5,490.3
7,450.7 515.2 5.2 33.8 250.9 176.7 53.6 0.0 74.1 40.9 541.2 691.2 – 17.9 31.3 127.3 23.9 296.0 22.4 35.9 0.0 – 11.3 – 0.9 13.5 5.8 220.8 153.4 36.5 10.9 – – 432.9 3,614.9
7,154.0 390.9 7.3 34.8 306.2 111.1 55.8 0.0 79.0 43.8 534.6 871.0 – 12.8 31.2 88.0 22.6 379.2 19.9 32.4 – – 6.4 – 1.8 4.3 4.3 243.2 132.7 35.9 11.9 0.4 – 377.8 3,307.3
9,985.8 55.7 11.4 86.6 391.9 215.4 745.7 10.6 8.2 17.3 366.6 500.0 26.3 21.1 27.0 5.6 407.0 3,224.9 1.4 84.1 101.5 8.7 51.2 34.6 27.6 53.3 26.7 131.3 170.6 15.2 20.9 92.1 7.8 174.5 2,607.2
9,967.4 51.3 5.5 88.5 393.8 206.4 590.9 13.0 8.2 12.8 386.2 516.0 30.1 21.1 27.1 2.2 447.7 3,205.2 1.4 87.7 109.4 8.2 49.8 45.6 27.6 55.0 27.1 137.4 175.0 17.0 19.9 89.8 6.7 192.3 2,645.0
733.2 6.8 0.3 8.6 7.8 11.2 44.2 – – 8.8 118.3 63.2 – 1.1 10.2 – 0.1 139.6 4.3 1.0 – – 4.3 – 27.8 2.0 0.9 67.0 5.8 15.0 3.1 2.3 0.2 0.7 152.8
774.5 3.8 0.3 9.0 6.7 8.8 62.1 – – 6.5 133.8 73.1 – 1.0 7.9 – 0.9 149.0 4.2 2.3 – – 4.1 – 29.6 0.9 1.1 39.8 6.0 12.4 2.4 1.9 0.2 0.3 181.1
A 126
6,810.5 429.2 3.9 45.5 423.8 91.7 78.1 0.0 135.7 39.4 490.7 848.3 – 11.4 53.2 77.3 23.4 368.4 14.8 29.7 – – 2.0 – 5.5 4.6 5.6 248.6 125.7 25.3 12.2 1.1 – 338.0 2,869.7
Mar 2011
6,162.9 443.4 1.4 37.5 497.1 86.7 111.8 – 163.8 34.2 476.2 392.0 – 16.9 75.3 86.6 21.7 440.6 25.2 32.1 – – 2.7 – 2.3 5.1 4.9 164.7 69.9 15.1 11.7 – – 301.8 2,631.9
6,306.3 446.8 0.2 39.9 534.2 92.6 109.1 0.0 147.2 37.3 514.1 459.0 – 19.0 75.5 100.8 23.1 401.1 25.6 30.5 – – 2.5 – 2.7 5.2 4.7 125.6 72.9 16.7 12.3 – – 311.6 2,686.2
739.7 6.4 0.5 3.0 10.6 12.4 118.0 – – 5.5 84.0 44.8 – 2.2 25.0 – 1.1 126.2 4.0 1.1 1.9 – 4.1 – 28.5 1.0 0.4 95.5 0.5 8.7 1.7 1.9 0.1 1.1 119.9
806.0 6.3 0.3 3.2 10.4 11.5 136.8 – – 6.4 75.1 69.9 – 0.1 25.1 – 1.1 105.3 4.0 1.3 1.1 – 4.6 – 34.2 1.0 0.4 103.6 0.4 10.0 1.3 2.1 0.0 0.4 159.1
Corporate sector
Governments 9,085.1 44.0 13.1 86.8 290.5 216.8 735.8 11.6 12.6 18.9 446.7 457.8 27.1 62.0 28.9 11.2 444.0 2,489.0 1.3 105.8 113.1 7.9 52.8 31.0 26.3 44.1 18.8 111.8 176.1 17.2 18.3 66.1 13.3 120.1 2,470.5
Financial institutions Dec 2008 Dec 2009 Dec 2010
Mar 2011
605.9 6.0 0.4 8.8 9.8 10.8 67.5 – – 6.3 63.3 39.8 – 1.3 19.3 – 0.7 124.2 2.8 3.0 – – 4.6 – 30.6 0.9 1.0 66.3 3.2 10.2 1.5 2.1 0.1 0.9 92.9
BIS Quarterly Review, September 2011
Table 17B: International debt securities With remaining maturity up to one year / Amounts outstanding by sector and residence of issuer In billions of US dollars Countries
Dec 2007
Dec 2008
All countries Australia Austria Belgium Brazil Canada China Czech Republic Denmark Finland France Germany Greece Hong Kong SAR India Ireland Italy Japan Malaysia Mexico Netherlands New Zealand Norway Poland Portugal Singapore South Africa South Korea Spain Sweden Switzerland Thailand Turkey United Kingdom United States
3,745.3 127.5 44.6 33.9 9.2 74.6 1.9 0.2 23.8 20.7 228.8 472.3 14.5 9.3 0.9 230.3 99.9 16.4 1.2 8.7 263.5 8.5 29.4 1.0 11.2 7.1 2.0 21.6 100.9 89.1 3.7 1.4 3.9 618.9 748.5
3,952.0 110.0 60.2 39.2 5.2 51.7 2.2 0.8 39.9 23.4 242.2 532.1 18.1 12.4 3.9 217.4 79.8 28.8 5.6 8.1 280.8 4.6 35.1 3.1 9.8 9.9 2.0 16.5 134.3 86.9 4.1 0.6 2.1 662.1 864.2
All countries Australia Austria Belgium Brazil Canada China Czech Republic Denmark Finland France Germany Greece Hong Kong SAR India Ireland Italy Japan Malaysia Mexico Netherlands New Zealand Norway Poland Portugal Singapore South Africa South Korea Spain Sweden Switzerland Thailand Turkey United Kingdom United States
208.6 5.1 4.1 9.6 2.2 16.4 1.6 – 4.1 7.9 0.2 46.1 14.2 0.3 – 1.1 33.9 – – 4.2 0.2 0.6 – 0.8 5.3 – 0.7 3.0 6.8 7.2 0.3 1.0 3.8 3.0 0.1
221.0 3.4 15.7 17.5 2.2 10.9 0.5 0.4 8.2 4.5 0.2 43.7 15.5 0.5 – 27.6 5.3 0.6 1.6 3.9 12.0 0.0 – 3.1 2.4 – 1.5 0.1 8.6 8.9 0.4 0.3 2.1 – 0.1
All issuers Dec 2009 Dec 2010 4,035.1 109.5 51.9 59.0 8.1 65.0 3.9 0.3 49.3 33.2 278.5 464.1 17.9 8.2 3.9 239.0 111.4 26.7 0.4 7.1 272.9 3.7 33.0 2.6 27.2 7.7 1.2 23.4 163.1 106.2 2.9 1.1 3.2 565.0 915.3
Dec 2007
4,037.0 123.4 61.4 37.9 6.9 91.9 4.5 0.7 29.6 30.6 297.7 404.2 23.5 14.0 6.8 157.6 100.6 33.8 4.0 2.1 269.3 1.7 33.3 1.4 24.6 12.6 0.6 23.4 135.5 111.3 3.1 0.9 2.1 530.1 1,085.9
4,285.7 116.3 76.7 51.3 5.8 83.7 6.2 0.9 32.5 26.0 345.9 457.0 41.8 13.2 7.6 130.5 101.2 33.2 3.9 2.1 314.6 2.4 39.2 1.1 28.9 14.1 0.6 26.7 154.6 104.7 3.9 0.9 2.1 593.6 1,097.5
3,183.8 118.5 38.1 20.3 4.4 43.5 0.0 0.2 18.8 10.8 186.4 412.1 0.1 8.6 0.3 227.1 61.9 7.4 0.8 0.1 245.7 6.3 27.8 0.2 4.8 5.7 0.1 14.6 92.8 77.7 3.1 0.0 0.1 570.8 700.1
3,355.6 104.6 41.0 16.3 2.3 34.2 1.7 0.4 29.8 16.6 203.0 458.2 1.4 8.4 0.9 182.9 73.3 12.6 3.4 1.5 255.7 4.3 33.4 – 4.8 9.5 0.1 14.5 121.9 75.5 2.7 0.3 – 623.8 790.1
201.7 4.5 11.5 11.6 2.6 9.2 1.5 0.1 6.1 7.2 0.2 50.9 10.7 – – 6.8 9.0 0.2 1.8 1.5 7.2 0.2 – 1.4 7.9 – – – 5.9 18.0 0.2 0.3 1.8 2.0 0.1
243.2 5.3 18.5 21.9 2.5 10.3 1.5 0.1 9.2 3.6 0.1 58.2 31.4 – – 12.5 7.0 – 1.8 1.3 0.8 0.1 – 1.1 8.3 – – – 7.7 13.1 0.2 0.3 1.8 2.0 0.1
248.6 3.9 2.5 4.0 2.5 14.7 0.3 0.0 0.9 2.0 42.2 14.0 0.2 0.3 0.5 2.2 4.1 9.0 0.3 4.4 17.7 1.7 1.7 – 1.1 1.4 1.2 4.0 1.3 4.2 0.4 0.4 – 45.1 48.3
281.4 2.0 3.5 5.4 0.7 6.6 – 0.0 1.9 2.4 39.1 30.2 1.2 3.5 3.0 6.8 1.3 15.7 0.6 2.7 13.1 0.2 1.8 – 2.7 0.4 0.5 1.9 3.9 2.5 1.0 – – 38.3 74.0
Governments
BIS Quarterly Review, September 2011
197.8 5.9 10.7 15.4 3.3 6.5 – – 4.9 7.6 0.5 51.2 14.8 – – 4.3 11.1 – – 4.7 6.3 – – 2.6 6.3 0.4 – – 6.6 8.6 – – 2.9 4.0 0.1
Financial institutions Dec 2008 Dec 2009 Dec 2010
Mar 2011
3,471.0 101.1 36.7 38.3 4.1 49.5 3.9 0.3 40.0 22.8 236.0 397.5 1.6 6.1 1.3 228.8 92.6 17.7 0.4 0.1 255.8 3.2 30.6 – 19.7 5.8 1.0 19.4 154.3 92.1 1.9 0.8 0.3 532.6 847.3
Mar 2011
3,424.6 114.6 47.8 23.6 2.3 62.9 2.9 0.2 21.2 22.0 260.3 339.9 12.2 10.8 1.2 150.2 84.0 18.1 1.3 0.0 249.0 1.0 31.2 – 13.3 9.3 0.0 16.4 129.6 91.3 2.4 0.4 – 501.1 993.5
3,633.3 107.6 56.0 26.2 2.5 53.7 3.7 0.3 21.9 20.9 301.8 383.2 9.8 12.3 2.3 117.0 84.0 18.5 1.2 0.0 304.6 1.6 36.9 – 18.3 10.5 0.1 19.3 146.9 90.4 2.1 0.4 – 565.3 1,013.4
290.7 4.3 2.1 2.7 2.0 19.9 0.2 0.4 2.3 1.5 37.2 13.4 0.6 3.2 5.5 0.6 7.6 15.6 0.9 0.5 13.1 0.5 2.0 – 3.4 3.3 0.6 7.0 – 2.0 0.5 0.1 0.3 27.0 92.2
286.0 3.4 2.2 3.3 0.8 19.7 1.1 0.5 1.3 1.5 43.9 15.5 0.7 0.8 5.2 1.0 10.2 14.7 0.9 0.8 9.2 0.8 2.3 – 2.3 3.6 0.6 7.4 – 1.2 1.6 0.1 0.4 26.3 84.0
Corporate sector 251.1 2.6 4.5 5.3 0.7 9.0 – – 4.4 2.8 42.0 15.4 1.4 2.1 2.6 5.9 7.7 9.1 0.0 2.3 10.8 0.6 2.4 – 1.3 1.6 0.2 3.9 2.2 5.6 1.0 0.3 – 28.4 67.9
A 127
Table 18: Announced international equity issues By nationality of issuer In billions of US dollars Countries
2008
2009
2010 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011
All countries
392.2
734.8
707.6
256.3
173.5
247.9
118.0
119.3
182.3
288.0
157.2
180.4
Developed countries Australia Austria Belgium Canada Cyprus Denmark Finland France Germany Greece Iceland Ireland Italy Japan Luxembourg Netherlands New Zealand Norway Portugal Spain Sweden Switzerland United Kingdom United States
306.0 24.6 0.6 9.9 11.4 2.5 7.4 2.1 24.2 7.0 0.9 0.3 0.3 11.3 2.9 – 0.2 0.1 2.7 5.0 10.4 1.5 15.9 65.4 98.9
594.7 36.4 3.3 1.2 33.1 – 3.9 1.5 30.6 15.3 6.8 0.1 2.7 15.7 27.3 3.2 18.4 0.6 6.1 2.0 15.5 7.0 15.1 102.0 246.8
429.8 17.7 1.8 0.8 37.2 0.5 3.7 0.6 10.0 31.2 4.7 0.0 2.6 12.7 20.6 2.4 2.8 0.1 8.1 0.4 11.7 8.3 2.5 33.4 215.5
226.0 12.5 – 0.7 7.5 – 1.4 0.7 8.0 0.9 1.4 – 0.1 12.5 5.4 3.2 0.4 0.5 1.5 1.7 3.2 3.9 5.6 42.7 112.2
125.1 13.2 0.5 – 10.4 – 1.8 0.2 0.4 9.2 3.8 – 0.0 0.5 5.7 – 3.7 0.0 1.0 – 1.3 0.1 8.2 27.8 37.2
200.5 3.7 2.8 0.4 10.4 – 0.7 0.5 19.5 5.1 1.4 0.1 0.9 2.7 14.8 0.0 12.3 0.1 3.3 0.3 9.4 1.6 1.3 24.1 85.1
81.8 2.1 – 0.1 8.4 – 0.2 – 3.0 4.5 0.8 – 0.4 7.7 9.3 – 1.2 0.1 0.7 0.4 0.4 0.6 0.1 5.6 36.1
79.8 1.5 0.0 0.1 7.6 0.0 0.9 0.1 1.6 7.1 0.3 – 2.0 0.1 0.7 0.3 0.8 0.0 1.6 – 2.1 1.0 1.5 8.8 41.6
68.2 3.3 0.0 0.2 7.0 – 0.1 0.1 1.2 2.8 0.3 – 0.1 0.8 8.0 – 0.5 – 2.1 – 0.9 0.0 0.2 7.5 33.2
200.0 10.8 1.7 0.5 14.1 0.5 2.6 0.4 4.2 16.8 3.4 0.0 0.0 4.2 2.7 2.0 0.3 0.0 3.7 – 8.4 6.8 0.7 11.6 104.5
122.0 2.8 – 0.7 13.5 0.7 0.5 0.4 2.1 8.1 1.1 – 0.9 4.1 4.7 0.1 2.8 – 1.4 0.3 3.5 3.3 – 4.5 66.5
135.9 1.8 2.4 0.0 12.0 0.2 4.0 0.1 0.2 14.3 0.4 – 0.3 12.3 0.7 0.2 0.2 – 0.9 0.4 0.9 1.0 10.8 9.6 63.0
5.9 – – 0.3 1.0 3.1 0.2 0.8
19.1 – 0.3 1.7 – 8.2 – 8.2
25.3 – 2.3 1.3 – 13.4 0.1 7.8
4.4 – – 0.8 – 2.9 – 0.6
4.5 – – 0.1 – 2.4 – 1.8
6.4 – 0.3 0.8 – 2.8 – 2.2
5.2 – 0.1 0.8 – 3.0 0.1 1.1
3.9 – 1.1 – – 2.3 – 0.5
4.1 – – 0.1 – 2.8 – 1.2
12.0 – 1.1 0.4 – 5.3 – 5.1
8.9 – – – – 6.9 – 2.1
3.9 – – 0.0 – 2.9 – 0.9
Developing countries
80.3
121.1
252.5
26.0
43.9
41.0
30.9
35.6
110.0
76.0
26.3
40.6
Africa & Middle East Egypt Israel Jordan Kuwait Nigeria Saudi Arabia South Africa United Arab Emirates
15.9 0.8 0.9 0.0 6.4 1.7 1.2 2.6 0.4
5.9 0.1 1.9 – 0.1 0.1 0.6 1.9 0.5
8.9 1.1 2.5 – 0.1 0.1 0.7 3.0 0.4
0.9 – 0.3 – – – – 0.3 0.3
2.9 – 0.9 – – 0.1 0.6 1.2 0.2
1.2 0.1 0.8 – – – – 0.3 0.0
2.5 0.9 0.7 – 0.1 – 0.2 0.4 0.1
2.7 0.2 0.8 – – 0.1 0.3 0.9 0.1
1.7 – 0.2 – – – 0.2 1.2 –
2.1 – 0.8 – – – – 0.4 0.2
0.7 – 0.5 – – – – 0.2 –
2.2 – 0.7 – – – – 1.3 0.2
Asia & Pacific China Chinese Taipei Georgia India Indonesia Kazakhstan Malaysia Pakistan Philippines South Korea Thailand
39.9 16.9 1.2 0.1 12.0 5.9 0.2 0.4 0.1 0.1 2.2 0.4
83.6 50.7 2.5 – 17.8 1.0 0.4 5.9 – 0.2 4.7 0.3
127.6 72.2 1.9 – 25.8 7.0 0.2 7.3 – 1.6 8.2 2.7
19.8 12.0 0.4 – 3.9 0.3 0.3 1.8 – 0.1 0.9 0.0
26.2 13.4 1.9 – 9.2 0.0 0.2 0.5 – – 1.0 0.1
29.1 18.8 0.2 – 4.6 0.7 – 3.7 – 0.1 1.0 0.1
17.8 4.4 0.3 – 8.6 1.6 – 0.9 – 0.3 1.6 0.0
15.7 6.0 0.3 – 4.7 0.3 – 0.6 – 0.4 3.4 0.1
36.0 28.7 0.3 – 3.7 0.8 – 0.2 – 0.2 1.0 1.0
58.2 33.1 1.0 – 8.7 4.3 0.2 5.6 – 0.7 2.1 1.6
13.6 6.1 0.6 – 2.2 1.9 – 0.5 – 0.2 1.3 0.5
16.6 10.0 0.2 – 2.7 0.9 – 0.6 – 0.6 1.5 0.1
Europe Croatia Czech Republic Hungary Poland Romania Russia Turkey Ukraine
7.2 – 0.0 0.0 1.5 – 3.3 1.5 0.9
11.1 – 0.0 – 3.5 – 7.2 0.1 0.2
18.9 – 0.0 – 7.9 – 8.8 1.4 0.7
0.3 – – – 0.3 – 0.0 0.1 –
6.9 – 0.0 – 0.2 – 6.6 – 0.1
3.8 – – – 3.0 – 0.6 0.1 0.1
4.3 – – – 1.7 – 2.3 0.2 0.0
4.7 – – – 2.6 – 1.7 0.1 0.3
0.8 – – – 0.3 – 0.5 – 0.0
9.2 – 0.0 – 3.2 – 4.4 1.2 0.3
5.0 – – – 0.6 – 3.9 0.5 –
9.4 – – 0.0 3.6 – 5.3 0.1 0.3
17.3 – 14.9 – 2.4 –
20.5 0.3 17.4 0.0 2.1 0.2
97.1 0.1 94.3 1.3 0.9 0.2
4.9 – 4.9 – – –
7.8 – 5.6 – 2.1 0.1
6.8 0.3 5.9 0.0 0.0 0.1
6.4 – 5.9 0.6 – 0.0
12.6 – 12.0 – 0.6 0.0
71.5 – 70.9 0.2 0.2 0.0
6.5 0.1 5.5 0.6 0.1 0.2
7.0 1.2 4.3 1.2 0.3 0.0
12.5 1.5 7.1 2.1 0.4 0.0
Offshore centres Bahamas Bahrain Bermuda Cayman Islands Hong Kong SAR Panama Singapore
Latin America & Caribbean Argentina Brazil Chile Mexico Peru
A 128
BIS Quarterly Review, September 2011
Derivatives markets 1
19
Amounts outstanding of over-the-counter (OTC) derivatives by risk category and instrument ........................................................................ page A131
20 A B C
Amounts outstanding of OTC foreign exchange derivatives By instrument and counterparty ..................................................................................... A131 By currency.................................................................................................................... A132 By instrument, maturity and counterparty ....................................................................... A132
21 A B C
Amounts outstanding of OTC single-currency interest rate derivatives By instrument and counterparty ..................................................................................... A133 By currency.................................................................................................................... A133 By instrument, maturity and counterparty ....................................................................... A134
22 A B C
Amounts outstanding of OTC equity-linked and commodity derivatives By instrument and counterparty ..................................................................................... A134 By instrument and market .............................................................................................. A135 By instrument, maturity and counterparty ....................................................................... A135
23
Derivative financial instruments traded on organised exchanges by instrument and location Notional principal ........................................................................................................... A136 Number of contracts....................................................................................................... A137
A B
1
More detailed data and a full set of historical time series are available on the BIS website under http://www.bis.org/statistics/derstats.htm.
BIS Quarterly Review, September 2011
A129
Table 19: Amounts outstanding of over-the-counter (OTC) derivatives By risk category and instrument In billions of US dollars Notional amounts outstanding Risk Category / Instrument Total contracts Foreign exchange contracts Forwards and forex swaps Currency swaps Options Interest rate contracts Forward rate agreements Interest rate swaps Options
Gross market values
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
598,147
594,553
603,900
582,655
601,048
35,281
25,298
21,542
24,673
21,148
50,042
48,732
49,181
53,125
57,798
4,084
2,470
2,070
2,524
2,482
24,494 14,941 10,608
23,105 15,072 10,555
23,129 16,509 9,543
25,625 16,347 11,153
28,434 19,271 10,092
1,830 1,633 621
870 1,211 389
683 1,043 344
925 1,187 411
886 1,235 362
432,657
437,228
449,875
451,831
465,260
20,087
15,478
14,020
17,533
14,608
41,561 341,128 49,968
46,812 341,903 48,513
51,779 349,288 48,808
56,242 347,508 48,081
51,587 364,378 49,295
165 18,158 1,764
130 13,934 1,414
80 12,576 1,364
81 15,951 1,501
206 13,001 1,401
Equity-linked contracts
6,471
6,584
5,937
6,260
5,635
1,112
879
708
706
648
Forwards and swaps Options
1,627 4,844
1,678 4,906
1,652 4,285
1,754 4,506
1,828 3,807
335 777
225 654
176 532
189 518
167 480
Commodity contracts
4,427
3,619
2,944
2,852
2,922
955
682
545
457
526
395 4,032 2,471 1,561
425 3,194 1,715 1,479
423 2,521 1,675 846
417 2,434 1,551 883
396 2,525 1,781 744
65 890
43 638
48 497
44 413
47 479
Gold Other commodities Forwards and swaps Options Credit default swaps
41,883
36,098
32,693
30,261
29,898
5,116
2,973
1,801
1,666
1,351
Single-name instruments
25,740
24,165
21,917
18,494
18,145
3,263
1,950
1,243
993
884
Multi-name instruments
16,143
11,933
10,776
11,767
11,753
1,854
1,023
559
673
467
...
...
...
7,500
7,476
62,667
62,291
63,270
38,327
39,536
3,927
2,816
2,398
1,788
1,532
5,005
3,744
3,521
3,578
3,342
of which index products Unallocated Memorandum Item: Gross Credit Exposure
Table 20A: Amounts outstanding of OTC foreign exchange derivatives By instrument and counterparty In billions of US dollars Notional amounts outstanding Instrument / counterparty
Gross market values
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
50,042
48,732
49,181
53,125
57,798
4,084
2,470
2,070
2,524
2,482
Reporting dealers Other financial institutions Non-financial customers
19,665 21,300 9,077
18,849 21,441 8,442
18,896 21,445 8,840
19,920 23,475 9,731
21,955 25,626 10,216
1,520 1,768 796
892 1,066 512
732 888 449
898 1,084 541
899 1,049 535
Outright forwards and foreign exchange swaps
24,494
23,105
23,129
25,625
28,434
1,830
870
683
925
886
Reporting dealers Other financial institutions Non-financial customers
8,472 10,906 5,116
7,701 10,653 4,751
7,683 10,497 4,949
8,370 11,872 5,383
9,261 13,009 6,163
662 780 388
301 374 195
235 300 148
314 398 213
326 365 195
14,941
15,072
16,509
16,347
19,271
1,633
1,211
1,043
1,187
1,235
6,009 6,858 2,074
6,330 6,717 2,025
7,112 7,282 2,115
7,006 7,279 2,062
8,320 8,801 2,149
568 783 282
402 568 241
332 478 233
397 548 243
390 586 259
10,608
10,555
9,543
11,153
10,092
621
389
344
411
362
5,184 3,537 1,887
4,818 4,071 1,666
4,101 3,666 1,775
4,544 4,323 2,286
4,374 3,815 1,904
290 205 126
190 125 75
166 111 68
187 138 86
183 98 81
Total contracts
Currency swaps Reporting dealers Other financial institutions Non-financial customers Options Reporting dealers Other financial institutions Non-financial customers
BIS Quarterly Review, September 2011
A 131
Table 20B: Amounts outstanding of OTC foreign exchange derivatives By currency In billions of US dollars Notional amounts outstanding Currency All currencies Canadian dollar Euro Japanese yen Pound sterling Swedish krona Swiss franc US dollar Other
Gross market values
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
50,042
48,732
49,181
53,125
57,798
4,084
2,470
2,070
2,524
2,482
1,697 21,146 12,327 5,606 1,262 3,252 42,451 12,343
1,735 20,653 11,436 6,213 1,255 3,072 40,735 12,366
1,858 20,364 11,238 5,929 1,309 3,106 40,921 13,637
2,228 19,993 11,843 6,592 1,370 3,825 45,338 15,059
2,421 21,930 12,576 6,587 1,588 4,196 48,739 17,558
130 1,630 960 753 91 206 3,252 1,145
95 1,032 531 435 54 103 1,961 729
78 864 539 282 39 98 1,662 578
100 1,121 657 287 43 197 2,025 617
101 888 688 254 50 305 1,945 735
Table 20C: Amounts outstanding of OTC foreign exchange derivatives By instrument, maturity and counterparty In billions of US dollars All counterparties Instrument / maturity Total contracts Maturity of one year or less Maturity between 1 and 5 yrs Maturity over 5 years Forwards and swaps Maturity of one year or less Maturity between 1 and 5 yrs Maturity over 5 years Options Maturity of one year or less Maturity between 1 and 5 yrs Maturity over 5 years
A 132
Reporting Dealers
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
50,042
48,732
49,181
53,125
57,798
19,665
18,849
18,896
19,920
21,955
32,711 9,557 7,774
30,264 9,694 8,775
30,614 9,712 8,855
33,633 10,737 8,755
37,987 10,137 9,674
13,452 4,220 1,993
12,421 4,233 2,195
12,316 4,352 2,228
12,934 4,662 2,323
14,658 4,821 2,476
43,490
48,273
39,638
41,972
47,705
15,386
17,496
14,795
15,376
17,582
31,172 6,176 6,142
33,558 7,623 7,093
24,767 7,555 7,316
25,955 8,373 7,644
31,618 8,141 7,947
11,543 2,431 1,412
12,549 3,177 1,770
9,635 3,257 1,903
9,874 3,504 1,998
11,782 3,689 2,111
10,608
10,555
9,543
11,153
10,092
5,184
4,818
4,101
4,544
4,374
6,782 2,765 1,061
6,514 2,577 1,464
5,847 2,157 1,539
7,678 2,365 1,110
6,369 1,996 1,727
3,479 1,376 329
3,153 1,280 384
2,681 1,096 324
3,061 1,158 325
2,876 1,132 365
BIS Quarterly Review, September 2011
Table 21A: Amounts outstanding of OTC single-currency interest rate derivatives By instrument and counterparty In billion of US dollars Instrument / counterparty
Dec 2008
Notional amounts outstanding Jun 2009 Dec 2009 Jun 2010
Dec 2010
Dec 2008
Gross market values Jun 2009 Dec 2009 Jun 2010
Dec 2010
Total contracts Reporting dealers Other financial institutions Non-financial customers
432,657 165,741 228,003 38,914
437,228 148,152 250,097 38,979
449,875 138,580 275,688 35,607
451,831 132,128 282,027 37,677
465,260 134,483 293,478 37,299
20,087 7,099 11,849 1,138
15,478 4,759 9,928 790
14,020 3,970 9,313 736
17,533 4,548 12,068 917
14,608 4,114 9,646 848
Forward rate agreements Reporting dealers Other financial institutions Non-financial customers
41,561 20,818 19,452 1,292
46,812 24,158 21,007 1,648
51,779 27,352 22,487 1,940
56,242 30,228 23,798 2,216
51,587 26,262 24,414 911
165 78 82 6
130 43 83 4
80 32 43 6
81 32 44 5
206 60 143 3
Swaps Reporting dealers Other financial institutions Non-financial customers
341,128 119,641 188,548 32,939
341,903 100,167 208,130 33,606
349,288 87,994 231,023 30,270
347,508 79,717 235,721 32,070
364,378 83,180 248,675 32,523
18,158 6,095 11,033 1,030
13,934 3,988 9,234 712
12,576 3,229 8,686 660
15,951 3,756 11,361 835
13,001 3,265 8,963 773
Options Reporting dealers Other financial institutions Non-financial customers
49,968
48,513
48,808
48,081
49,295
1,764
1,414
1,364
1,501
1,401
25,282 20,003 4,683
23,827 20,961 3,726
23,233 22,178 3,397
22,183 22,508 3,391
25,041 20,388 3,866
926 734 103
728 611 75
709 585 71
760 663 77
789 541 72
Table 21B: Amounts outstanding of OTC single-currency interest rate derivatives By currency In billions of US dollars Notional amounts outstanding Currency All currencies Canadian dollar Euro Japanese yen Pound sterling Swedish krona Swiss franc US dollar Other
Gross market values
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
432,657
437,228
449,875
451,831
465,260
20,087
15,478
14,020
17,533
14,608
2,704 161,445 61,588 29,204 5,082 5,088 148,661 18,885
3,227 160,668 57,452 32,591 5,294 4,713 154,174 19,108
3,427 175,790 53,855 34,257 4,696 4,807 153,373 19,669
4,411 161,515 55,395 36,219 4,461 4,650 164,119 21,061
4,247 177,831 59,509 37,813 5,098 5,115 151,583 24,064
186 5,643 927 1,365 130 120 11,092 624
141 6,255 800 1,117 118 121 6,473 453
102 6,073 843 1,038 99 128 5,347 389
102 7,043 980 1,146 98 138 7,573 451
90 5,827 1,022 878 71 140 6,177 404
BIS Quarterly Review, September 2011
A 133
Table 21C: Amounts outstanding of OTC single-currency interest rate derivatives By instrument, maturity and counterparty In billions of US dollars Instrument / maturity Total contracts Maturity of one year or less Maturity between 1 and 5 years Maturity over 5 years Forwards and swaps Maturity of one year or less Maturity between 1 and 5 years Maturity over 5 years Options Maturity of one year or less Maturity between 1 and 5 years Maturity over 5 years
Dec 2008
All counterparties Jun 2009 Dec 2009 Jun 2010
Dec 2010
Dec 2008
Reporting Dealers Jun 2009 Dec 2009 Jun 2010
Dec 2010
432,657
437,228
449,875
451,831
465,260
165,741
148,152
138,580
132,128
134,483
155,581 127,511 149,565
159,145 128,319 149,765
180,007 134,312 135,556
196,040 129,488 126,303
190,487 138,206 136,567
71,139 50,734 43,868
62,635 43,872 41,645
63,129 43,117 32,334
62,032 40,886 29,209
60,606 42,219 31,657
382,689
388,715
401,067
403,750
415,965
140,459
124,325
115,346
109,945
109,442
144,323 110,427 127,938
150,632 111,449 126,634
168,641 118,521 113,905
183,905 114,289 105,555
179,455 120,697 115,813
65,366 40,376 34,716
58,058 34,272 31,995
57,284 34,639 23,424
56,137 32,935 20,873
55,123 32,289 22,031
49,968
48,513
48,808
48,081
49,295
25,282
23,827
23,233
22,183
25,041
11,258 17,084 21,626
8,513 16,870 23,130
11,366 15,791 21,651
12,135 15,199 20,748
11,032 17,508 20,755
5,773 10,358 9,151
4,578 9,599 9,650
5,845 8,478 8,910
5,896 7,951 8,336
5,484 9,931 9,627
Dec 2010
Table 22A: Amounts outstanding of OTC equity-linked and commodity derivatives By instrument and counterparty In billions of US dollars Notional amounts outstanding Instrument / counterparty Total equity contracts Reporting dealers Other financial institutions Non-financial institutions Forwards and swaps Reporting dealers Other financial institutions Non-financial institutions Options
Gross market values
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
Dec 2008
Jun 2009
Dec 2009
Jun 2010
6,471
6,584
5,937
6,260
5,635
1,112
879
708
706
648
2,245 3,445 781
2,654 3,248 682
2,101 3,144 692
2,183 3,291 785
2,020 2,880 734
419 554 140
367 400 112
270 324 115
280 315 111
237 291 120
1,627
1,678
1,652
1,754
1,828
335
225
176
189
167
389 965 273
445 950 283
413 953 287
479 932 343
524 995 310
84 198 54
58 130 37
33 105 38
38 108 42
28 96 43
4,844
4,906
4,285
4,506
3,807
777
654
532
518
480
Reporting dealers Other financial institutions Non-financial institutions
1,856 2,480 509
2,209 2,298 399
1,688 2,191 406
1,704 2,359 442
1,497 1,886 424
335 356 86
309 270 75
237 219 76
242 207 69
209 195 77
Total commodity contracts
4,427
3,619
2,944
2,852
2,922
955
682
545
457
526
395
425
423
417
396
65
43
48
44
47
Forwards and swaps Options
152 243
179 246
201 222
224 193
230 166
– –
– –
– –
– –
– –
Other precious metals
111
93
107
127
123
18
24
15
29
18
Forwards and swaps Options
62 49
44 49
76 31
81 46
90 32
– –
– –
– –
– –
– –
Gold
Other commodities Forwards and swaps Options
A 134
3,921
3,101
2,414
2,307
2,403
873
614
482
384
461
2,410 1,511
1,671 1,430
1,599 815
1,470 837
1,691 712
– –
– –
– –
– –
– –
BIS Quarterly Review, September 2011
Table 22B: Amounts outstanding of OTC equity-linked derivatives By instrument and market In billions of US dollars Instrument / market Total contracts US equities European equities Japanese equities Other Asian equities Latin American equities Other equities Forwards and swaps
Dec 2008
US equities European equities Japanese equities Other Asian equities Latin American equities Other equities
Dec 2010
Dec 2008
Gross market values Jun 2009 Dec 2009 Jun 2010
Dec 2010
6,471
6,584
5,937
6,260
5,635
1,112
879
708
706
648
1,488 4,038 400 183 99 264
1,512 3,883 627 173 125 264
1,749 3,167 494 180 38 309
1,732 3,227 602 258 105 336
1,563 2,794 595 252 58 373
249 610 87 94 20 51
202 478 93 56 8 43
192 373 80 27 5 32
195 352 91 25 6 38
191 311 77 24 5 40
1,627
1,678
1,652
1,754
1,828
335
225
176
189
167
508 884 48 36 40 111
520 915 69 34 34 107
528 877 63 29 20 136
571 899 84 29 17 154
543 942 79 52 20 192
97 173 16 14 15 19
55 130 12 6 5 18
46 105 8 4 3 11
63 99 9 3 3 12
51 91 7 4 2 13
4,844
4,906
4,285
4,506
3,807
777
654
532
518
480
980 3,154 352 146 60 152
992 2,968 559 139 90 158
1,221 2,290 431 151 19 173
1,161 2,328 518 230 88 181
1,020 1,852 516 200 37 182
152 437 71 80 5 32
147 348 81 50 3 25
146 268 72 23 2 21
132 253 82 22 3 26
140 220 71 20 3 27
US equities European equities Japanese equities Other Asian equities Latin American equities Other equities Options
Notional amounts outstanding Jun 2009 Dec 2009 Jun 2010
Table 22C: Amounts outstanding of OTC equity-linked derivatives By instrument, maturity and counterparty In billions of US dollars All counterparties Instrument / maturity Total contracts Maturity of one year or less Maturity between 1 and 5 yrs Maturity over 5 years Forwards and swaps
Jun 2009
Dec 2009
Jun 2010
Dec 2010
Dec 2008
Jun 2009
Dec 2009
Jun 2010
Dec 2010
6,471
6,584
5,937
6,260
5,635
2,245
2,654
2,101
2,183
2,020
2,972 2,692 807
2,935 2,873 777
2,838 2,409 691
3,036 2,551 673
2,650 2,357 628
1,074 969 201
1,178 1,241 235
949 900 252
1,033 900 250
861 912 247
1,627
1,678
1,652
1,754
1,828
389
445
413
479
524
785 557 285
841 613 224
856 604 192
953 601 200
1,009 628 190
205 139 45
220 171 53
201 157 55
266 159 54
276 195 52
Maturity of one year or less Maturity between 1 and 5 yrs Maturity over 5 years Options Maturity of one year or less Maturity between 1 and 5 yrs Maturity over 5 years
Reporting Dealers
Dec 2008
4,844
4,906
4,285
4,506
3,807
1,856
2,209
1,688
1,704
1,497
2,187 2,135 522
2,094 2,260 552
1,982 1,805 499
2,083 1,950 473
1,641 1,729 437
870 830 156
957 1,069 182
748 743 197
767 741 196
584 717 195
BIS Quarterly Review, September 2011
A 135
Table 23A: Derivative financial instruments traded on organised exchanges By instrument and location Notional principal in billions of US dollars Instrument / location
Dec 2009
Amounts outstanding Dec 2010 Mar 2011
Jun 2011
2009
2010
Turnover Q3 2010 Q4 2010
Q1 2011
Q2 2011
Futures All markets Interest rate
21,737.9
22,311.9
27,435.7
30,114.6 1,126,516.5 1,380,537.3
305,363.1
343,639.6
415,077.6
411,142.7
28,718.4 1,016,361.6 1,235,907.4
371,258.1
20,627.7
21,013.4
26,012.9
270,635.0
307,252.4
374,453.2
Currency
144.3
170.2
200.7
201.7
24,598.7
35,771.2
8,306.8
9,181.8
9,282.1
9,706.3
Equity index
965.9
1,128.3
1,222.1
1,194.5
85,556.1
108,858.7
26,421.4
27,205.5
31,342.3
30,178.3
North America
10,720.9
11,863.5
14,771.1
16,297.5
599,025.0
729,195.9
153,648.6
187,775.5
219,574.6
229,252.0
10,284.9
11,351.1
14,186.0
15,746.0
543,950.8
658,193.5
136,806.6
170,449.4
199,822.5
209,329.3
90.7
114.8
134.8
125.3
19,606.8
28,649.0
6,736.0
7,294.8
7,697.3
7,661.2
345.3
397.6
450.3
426.2
35,467.4
42,353.4
10,106.1
10,031.4
12,054.7
12,261.6
Interest rate Currency Equity index Europe Interest rate Currency
8,053.4
6,345.1
8,267.8
8,933.8
449,387.1
533,296.2
120,591.4
122,939.4
162,960.8
145,871.3
7,608.7
5,816.6
7,715.5
8,373.8
420,030.6
498,836.1
112,784.2
114,537.3
152,989.0
136,289.3
2.7
2.5
2.4
2.9
78.8
255.2
56.9
143.3
102.0
79.3
441.9
526.0
549.9
557.0
29,277.7
34,204.8
7,750.3
8,258.9
9,869.9
9,502.7
Asia and Pacific
2,408.3
3,168.6
3,443.2
3,826.2
63,125.2
92,273.5
24,956.1
26,174.5
25,590.3
29,005.7
Interest rate
2,250.6
2,982.8
3,234.4
3,626.8
43,808.5
60,899.6
16,352.3
17,173.3
16,177.5
20,499.9
9.7
1.5
9.9
11.3
552.4
1,594.4
379.9
458.2
387.4
521.8
Equity index
148.1
184.2
198.9
188.1
18,764.3
29,779.6
8,223.9
8,543.0
9,025.4
7,984.1
Other Markets
555.4
934.7
953.6
1,057.1
14,979.2
25,771.7
6,167.0
6,750.2
6,951.9
7,013.7
Interest rate
Equity index
Currency
483.5
862.9
877.1
971.8
8,571.7
17,978.1
4,691.9
5,092.4
5,464.3
5,139.6
Currency
41.2
51.4
53.6
62.2
4,360.8
5,272.6
1,134.0
1,285.6
1,095.4
1,444.1
Equity index
30.7
20.4
22.9
23.1
2,046.7
2,520.9
341.0
372.2
392.3
430.0
51,379.6
45,634.6
56,884.3
52,520.7
533,634.9
606,661.8
132,386.7
135,205.9
166,306.1
151,970.7
46,428.7
40,930.0
51,458.8
47,117.7
434,601.0
468,872.0
100,874.2
95,986.5
123,333.3
105,782.7
147.3
144.2
122.9
183.7
1,980.3
3,048.5
724.5
696.4
604.7
712.1
Equity index
4,803.5
4,560.3
5,302.5
5,219.3
97,053.6
134,741.3
30,788.0
38,523.0
42,368.2
45,475.9
North America
23,874.9
24,353.4
25,833.9
28,867.8
216,390.4
261,543.9
59,979.7
61,885.6
65,111.3
65,077.1
21,817.7
22,070.2
23,156.5
26,154.5
188,438.5
225,342.9
51,976.8
53,482.2
55,318.0
54,942.8
65.3
72.3
80.4
61.8
657.5
1,600.9
380.4
428.6
381.6
403.2
1,991.9
2,210.9
2,597.0
2,651.5
27,294.3
34,600.2
7,622.5
7,974.7
9,411.7
9,731.1
Options All markets Interest rate Currency
Interest rate Currency Equity index Europe Interest rate Currency
26,322.6
19,247.2
29,132.4
21,642.6
258,556.9
251,485.3
50,149.7
44,257.0
69,779.3
52,822.3
23,905.0
17,320.8
26,951.3
19,548.5
240,483.9
233,930.0
46,382.6
39,911.7
64,537.3
48,011.0
0.3
0.3
0.2
0.2
7.7
5.1
1.0
1.2
0.8
1.0
2,417.2
1,926.1
2,180.9
2,093.8
18,065.4
17,550.2
3,766.1
4,344.1
5,241.3
4,810.3
310.4
383.3
483.7
452.8
52,751.4
82,757.4
19,577.1
26,278.9
27,615.8
30,885.5
7.2
3.5
20.3
22.0
2,825.0
2,605.3
718.2
760.2
680.3
588.0
–
0.3
1.8
2.2
–
6.2
0.0
6.2
28.1
74.3
Equity index
303.3
379.4
461.7
428.6
49,926.4
80,145.8
18,858.9
25,512.5
26,907.5
30,223.2
Other Markets
871.7
1,650.7
1,434.2
1,557.4
5,936.2
10,875.2
2,680.2
2,784.5
3,799.7
3,185.8
Interest rate
698.9
1,535.5
1,330.8
1,392.7
2,853.6
6,993.8
1,796.6
1,832.4
2,797.7
2,240.9
Currency
81.7
71.3
40.5
119.4
1,315.1
1,436.3
343.1
260.4
194.3
233.6
Equity index
91.1
43.9
62.9
45.3
1,767.5
2,445.1
540.5
691.7
807.7
711.3
Equity index Asia and Pacific Interest rate Currency
A 136
BIS Quarterly Review, September 2011
Table 23B: Derivative financial instruments traded on organised exchanges By instrument and location Number of contracts in millions Instrument / location
Dec 2009
Contracts outstanding Dec 2010 Mar 2011 Jun 2011
2009
2010
Turnover Q3 2010 Q4 2010
Q1 2011
Q2 2011
Futures All markets
94.3
86.2
95.3
73.8
4,571.9
6,353.2
1,530.8
1,611.3
1,721.4
1,820.5
Interest rate Currency Equity index
63.9 5.9 24.5
63.3 6.1 16.9
69.5 7.5 18.3
48.5 8.6 16.6
1,935.9 377.4 2,258.6
2,546.1 1,410.2 2,396.8
608.1 330.3 592.5
637.0 416.1 558.2
749.1 358.5 613.8
744.9 483.5 592.2
North America
56.6
43.5
47.9
23.1
1,825.6
2,160.9
513.8
525.5
592.9
603.5
Interest rate Currency Equity index
42.4 0.9 13.3
36.5 1.3 5.7
40.5 1.5 5.9
17.5 1.1 4.4
913.2 158.0 754.4
1,177.9 234.8 748.2
274.7 55.9 183.2
303.8 57.6 164.1
351.2 60.8 181.0
364.2 58.9 180.5
Europe
19.1
18.1
20.8
22.2
1,674.9
1,994.9
471.7
490.2
563.7
570.5
Interest rate Currency Equity index
10.1 2.8 6.2
9.0 2.3 6.8
11.0 2.2 7.6
11.7 2.8 7.7
759.3 84.0 831.6
931.3 149.6 914.0
218.2 36.7 216.7
215.8 62.0 212.4
272.8 49.3 241.6
258.8 64.1 247.5
Asia and Pacific
6.5
6.2
8.3
8.8
709.2
1,641.2
406.8
451.9
425.1
503.2
Interest rate Currency Equity index
2.9 1.0 2.7
3.0 1.0 2.2
3.4 2.1 2.9
3.6 2.9 2.3
92.5 42.3 574.4
119.2 913.0 609.0
32.2 213.0 161.7
30.3 269.1 152.5
32.7 223.6 168.7
37.5 329.8 135.9
Other Markets
12.1
18.4
18.3
19.7
362.2
556.2
138.5
143.7
139.8
143.4
Interest rate Currency Equity index
8.5 1.2 2.3
14.8 1.5 2.1
14.7 1.7 1.9
15.7 1.8 2.2
170.9 93.2 98.2
317.8 112.8 125.6
82.9 24.6 31.0
87.1 27.4 29.2
92.4 24.8 22.6
84.4 30.7 28.2
36.1
40.8
40.9
40.0
1,908.9
2,675.5
687.3
760.2
600.7
607.4
28.6 7.5
30.4 10.4
30.1 10.8
28.7 11.3
561.8 1,347.1
663.9 2,011.6
164.8 522.6
172.1 588.2
193.7 407.0
188.8 418.6
137.5
139.0
156.1
152.9
4,816.3
5,812.3
1,377.4
1,607.4
1,700.0
1,758.3
Interest rate Currency Equity index
51.8 2.8 82.9
62.1 2.9 74.0
67.8 3.7 84.6
64.5 5.6 82.8
527.5 42.4 4,246.4
653.0 56.4 5,102.9
150.6 11.8 1,214.9
151.7 16.9 1,438.8
190.2 37.7 1,472.1
160.0 84.4 1,513.9
North America
38.1
39.3
44.4
47.8
528.0
627.6
145.8
153.5
165.0
162.6
Interest rate Currency Equity index
19.0 0.5 18.6
19.3 0.6 19.4
21.8 0.6 22.0
24.6 0.5 22.7
224.2 6.3 297.5
269.1 12.0 346.6
64.3 2.9 78.5
69.4 3.0 81.2
69.0 2.7 93.4
67.8 2.7 92.2
Memorandum items: Commodity contracts US markets Other markets
Options All markets
Europe
73.6
62.5
76.2
68.5
754.2
720.5
156.7
160.9
198.6
172.4
Interest rate Currency Equity index
20.7 0.1 52.8
16.9 0.1 45.4
24.2 0.1 51.9
18.1 0.1 50.3
243.3 2.5 508.4
256.0 1.6 462.9
53.4 0.4 103.0
49.8 0.5 110.7
72.9 0.3 125.4
55.0 0.3 117.1
Asia and Pacific
9.0
8.2
11.1
10.7
3,369.7
4,226.3
1,017.1
1,234.9
1,260.7
1,359.9
Interest rate Currency Equity index
0.0 – 9.0
0.0 0.3 7.8
0.1 1.8 9.2
0.0 2.2 8.4
4.5 – 3,365.2
5.0 6.2 4,215.1
1.5 – 1,015.6
1.4 6.2 1,227.3
1.7 28.1 1,231.0
1.5 74.3 1,284.1
Other Markets
16.8
29.1
24.4
26.0
164.4
237.8
57.8
58.0
75.6
63.3
Interest rate Currency Equity index
12.2 2.2 2.5
25.9 1.8 1.4
21.8 1.2 1.5
21.7 2.8 1.4
55.6 33.5 75.3
122.8 36.7 78.4
31.4 8.6 17.8
31.0 7.3 19.7
46.6 6.7 22.2
35.7 7.1 20.5
18.8
22.1
24.4
23.1
132.9
154.8
39.6
44.2
46.9
43.1
17.7
20.5
22.0
20.6
114.3
137.0
35.1
38.8
41.4
38.7
1.1
1.7
2.5
2.6
18.6
17.7
4.5
5.5
5.5
4.4
365.3
387.4
413.7
438.0
5,624.1
6,008.3
1,342.4
1,531.0
1,673.6
1,488.8
256.7 108.6
282.3 105.1
272.5 141.2
286.5 151.5
4,175.0 1,449.0
4,284.4 1,724.0
930.0 412.4
1,107.4 423.6
1,211.9 461.7
1,090.1 398.6
Memorandum items: Commodity contracts US markets Other markets Single equity contracts US markets Other markets
BIS Quarterly Review, September 2011
A 137
Notes to tables Data for the most recent period are provisional. Data on changes in stocks have been calculated by converting the relevant stocks into their original currencies using end-of-period exchange rates and subsequently converting the changes in stocks into US dollar amounts using period average rates. Flow or turnover data have been calculated by converting flows and turnover in original currencies into US dollar amounts using period average exchange rates. Tables 1–8
The data in Tables 1–8 (the BIS international locational banking statistics) cover banks’ unconsolidated gross international on-balance sheet assets and liabilities. These data are based on the residence of the reporting institution and therefore measure the activities of all banking offices residing in each reporting country. Such offices report exclusively on their own unconsolidated business, which thus includes international transactions with any of their own affiliates (for data on the BIS consolidated banking statistics, see Table 9). BIS reporting banks include banks residing in the G10 countries, Australia, Austria, the Bahamas, Bahrain, Bermuda, Brazil, the Cayman Islands, Chile, Chinese Taipei, Curacao, Cyprus, Denmark, Finland, Greece, Guernsey, Hong Kong SAR, India, Ireland, Isle of Man, Jersey, Korea, Luxembourg, Macao SAR, Malaysia, Mexico, the Netherlands Antilles (till Q3 2010), Norway, Panama, Portugal, Singapore, South Africa, Spain and Turkey. Data of Bahamas for the latest quarter relate to 2010 Q4. Detailed tables, including time series data in CSV files, guidelines and information on breaks in series in the locational banking statistics, are available on the BIS website under http://www.bis.org/statistics/bankstats.htm.
Table 1
Local positions in foreign currency are available from all reporting banks except those in the United States. For Hong Kong SAR and Singapore, local positions include interbank business only (“Local” refers to positions vis-à-vis residents).
Tables 3 A–B
The data on external loans and deposits are derived from reporting as such or calculated by subtracting separately reported data on positions other than loans and deposits from total external assets and liabilities. The only exceptions are Bahrain and the Netherlands Antilles, which do not provide this information separately. Their data on international loans and deposits therefore equal the data on external assets and liabilities shown in Tables 2 A–B.
Tables 5
The positions in domestic currency (item A) cover all reporting countries, except the Netherlands Antilles, Singapore and South Korea, while those in foreign currency (item B) only relate to reporting countries that provide a detailed currency breakdown. The foreign currency positions of countries (Hong Kong SAR, Macao SAR, Netherlands Antilles and Singapore) that do not supply sufficient currency detail are shown in the item “unallocated” (item C).
Tables 5 B
Claims on non-banks include the positions of banks in the United States and their offshore branches vis-à-vis official monetary authorities.
Table 5 C
Excludes, on the assets side, the positions of banks in the United States and their offshore branches, which are indistinguishably included under positions vis-à-vis non-banks.
Table 5 D
The data cover all reporting banks, except those in the United States. For Hong Kong SAR and Singapore, local positions relate to interbank business only.
Table 6 A
Positions vis-à-vis Switzerland and vis-à-vis Germany include those vis-à-vis the BIS and ECB respectively. The residual item for Africa & Middle East includes the positions of banks in the United States vis-à-vis regional OPEC countries (including Bahrain).The “Other” item for developed European countries comprises the Faeroe Islands, Greenland and San Marino, which have been merged together due to only partial reporting by reporting central banks. For reasons of confidentiality, positions vis-à-vis certain countries may be included under the residual or unallocated items.
Tables 7 A–B
See notes to Tables 3 A–B. In the case of reporting country Singapore, the breakdowns of international loans and deposits by vis-à-vis country have been partly estimated.
Tables 8 A–B
The data in principle cover reporting banks’ cross-border positions in all currencies plus local positions in foreign currency. Figures for Latin America include the Caribbean area. Positions vis-à-vis “related offices” cover cross-border positions only. In the case of banks in Canada, such positions are given for Canadian banks only.
Tables 9
Claims on official monetary authorities of banks in the United States and their offshore branches are included under positions vis-à-vis non-banks. The BIS consolidated international banking statistics are based mainly on the country of incorporation of the reporting institutions and measure the international lending activities of banks’ head offices in the reporting countries and all their offices at home and abroad, with positions between offices of the same bank being netted out. In addition, foreign banks in reporting countries are requested to supply information about their international lending activities on an unconsolidated basis. The reporting countries comprise the G10 countries plus Australia, Austria, Brazil, Chile, Chinese Taipei, Denmark, Finland, Greece, Hong Kong SAR, India, Ireland, Luxembourg, Mexico, Norway, Panama, Portugal, Singapore, Spain and Turkey. Consolidated international and foreign claims (Tables 9A-E) do not include any on-balance sheet derivatives exposures. Furthermore, “Other exposures” covering derivatives (on- or off-balance sheet) and two contingent exposures, credit commitments and guarantees extended”, shown in Table 9C are not part of foreign claims. The data in Tables 9 A–B cover BIS reporting banks’ worldwide consolidated contractual claims that are not adjusted for risk mitigants, such as guarantees and collateral. In addition, table 9A shows
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in column Q, as net risk transfers, aggregates on the reallocation of claims from the country of the immediate counterparty to that of the ultimate risk (ie a third-party guarantor or the head office of a legally dependent branch). The data in Tables 9 A cover both foreign and international claims, while 9 B -E covers foreign claims only. International claims are defined as BIS reporting banks’ cross-border claims in all currencies plus the local claims of their foreign affiliates in foreign currency. Foreign claims include in addition, reporting banks’ foreign affiliates local claims in local currency, as shown below.
Types of claims A
B
C
D
Cross-border claims
Local claims of foreign affiliates in foreign currency
Local claims of foreign affiliates in local currency
Domestic claims in the reporting country
International claims (A + B) Foreign claims (A + B + C) The shaded area indicates claims excluded from the consolidated banking statistics; bold italics indicate claims published within the consolidated banking statistics. The data on individual nationality groups of reporting banks may differ from data published in national sources because the data presented relate to consolidated claims of domestically owned banks only, while published national sources may in certain cases cover the unconsolidated claims of local subsidiaries and branches of foreign banks as well.
Table 9 A
Item “Other” for developed European countries comprises the Faeroe Islands, Greenland and San Marino. Denmark reports its data on an unconsolidated basis, Austria and Portugal report on a partially consolidated basis. Detailed information on breaks in series in the consolidated banking statistics are available on the BIS website under http://www.bis.org/statistics/consstats.htm. This table covers the data on consolidated foreign claims of banks in 30 BIS reporting countries vis-à-vis individual countries. A breakdown of international claims by maturity and sector is also provided. The column J “Banks with head offices outside the country of residence” and column K “undisbursed credit commitments and backup facilities” have been discontinued upon introduction of claims on ultimate risk basis since Q4 2004. Columns E and I which related to “unallocated” maturities and sectors have been removed from the table. Respective data can be calculated by difference. Column Q on net risk transfers refers to the amounts outstanding of contractual claims which have been reallocated from the country of the immediate counterparty to that of the ultimate borrower as provided by 26 of 30 reporting countries. In principle, the country of the ultimate counterparty (or of ultimate risk) is considered to be the country where the guarantor of a financial claim resides or where the head office of a legally dependent branch is located. However, this definition is not yet consistently applied by all countries. In some cases the data exclude guarantees, while in others they also include claims on legally independent subsidiaries, without any explicit guarantee being given.
Table 9 B
This table provides the data on consolidated foreign claims vis-à-vis individual countries by nationality of banks in 30 BIS reporting countries. The grand total in the first column of the table also includes foreign claims of domestically owned banks in Finland, Hong Kong SAR, India, Luxembourg, Norway and Singapore, which are not shown separately in this table, as well as those of local subsidiaries and branches of foreign banks. European banks refer to domestically owned banks of European countries that report claims on an immediate borrower basis (i.e. Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey and the United Kingdom).
Table 9 C
As of current quarter, this table provides a sectoral breakdown of consolidated foreign claims of banks in 24 BIS reporting countries vis-à-vis individual countries on an ultimate risk basis. The grand total in the first column of the table comprises foreign claims of domestically owned banks in Austria, Australia, Belgium, Canada, Chile, Chinese Taipei, Finland, France, Germany, Greece, India, Ireland, Italy, Japan, the Netherlands, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The difference between total and sector components represents unallocated amounts (I) and the difference between total and cross-border claims represents local claims of foreign affiliates in all currencies(U). Data on additional contingent exposures through derivatives (positive market value only), guarantees extended and credit commitments are also shown. This table provides (as of current quarter) a breakdown of consolidated foreign claims vis-à-vis individual countries on an ultimate risk basis by nationality of reporting banks (in 24 reporting countries). The grand total in the first column of the table also includes foreign claims of domestically owned banks in Chinese
Table 9 D
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Table 9 E
Table 10
Tables 11–18
Taipei, Finland, Norway and Singapore. European banks refer to domestically owned banks of European countries that report claims on an ultimate risk basis (i.e. Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey and the United Kingdom). German banks’ foreign claims vis-à-vis developed countries are on an immediate borrower basis, except claims on the Greek public sector, which are on an ultimate risk basis. As of current reporting quarter, this table provides a sectoral breakdown of consolidated foreign claims vis-àvis individual countries by nationality of reporting banks on an ultimate risk basis. Data on other potential exposures through derivatives (positive market value only), guarantees extended and credit commitments are also shown. The grand total in the first column of the table comprises consolidated exposures of domestically owned banks in Austria, Australia, Belgium, Canada, Chile, Chinese Taipei, Finland, France, Germany, Greece, India, Ireland, Italy, Japan, the Netherlands, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. Exposures of banking groups vis-à-vis the home country are not included, as these are not foreign exposures. Claims of German banks are on an immediate borrower basis, except claims on the Greek public sector, which are on an ultimate risk basis. The data cover announcements of international syndicated credit facilities that are granted by syndicates consisting of at least two financial institutions (thus excluding bilateral deals) acting as lenders; the nationality of at least one of the syndicate banks must differ from that of the borrower. Facilities taking the form of amendments or derivative-like instruments such as currency swap facilities, interest rate swap facilities, etc. were excluded. Furthermore, only signed facilities with a maturity of at least three months are included. Finally, there are no restrictions on the purposes to which the proceeds of the facilities might be directed and the data therefore also include refinancing facilities. Sources: Dealogic Loan Analytics; BIS. The methodology used to compile the securities statistics and a description of the coverage can be found on pages 13 to 17 of the Guide to the international financial statistics at http://www.bis.org/publ/bispap14.htm. In the sectoral breakdown, “governments” comprise central governments, other governments and central banks. “Financial institutions” comprise commercial banks and other financial institutions. The international debt securities data include “repackaged securities”, for example the new global issues of Argentina, resulting from the April 2005 exchange offer. “Repackaged securities” which are exclusively domestically targeted are allocated to the domestic debt securities database, such as the Argentine “bonos de la reestructuracion – DTO. 1735/04”. Non-marketable securities issued by Brazil, the UK, Czech Republic, Belgium, and the US are excluded from the domestic debt securities data. For recent changes in the coverage of domestic debt securities data see http://www.bis.org/statistics/coverage.htm Tables 12 B, 12 C, 12 D, 13 A, 13 B, 16 A, 16 B and 17 B present data based on the sector of the borrower itself and not on the sector of the parent company of the borrower or any guarantor. In Tables 13 A, 14 A and 15 A the data cover commercial paper and notes with an original maturity of up to one year. Gross issuance excludes issues redeemed in the same quarter. In Tables 16 A, 16 B, 17 A and in the memorandum items of Tables 13 A and 13 B, the domestic statistics cover 74 OECD and emerging market countries. The complete list of countries can be seen at http://www.bis.org/statistics/qcsv/anx16a.csv. Figures based on the World Bank Public Sector Debt Statistics (Albania, Armenia, Bangladesh, Bolivia, Costa Rica, Georgia, Guatemala, Honduras, Kenya, Lithuania, Mauritius, Moldova, Morocco, Nepal, Romania, Seychelles, Sri Lanka, Tanzania, and Tonga), as well as for Bulgaria, Croatia, Egypt, New Zealand, Pakistan, Poland and Russia relate only to central government outstanding domestic debt securities. The domestic data for Argentina, Peru and Venezuela include local issues in foreign currency. The Chilean domestic debt securities data for financial institutions include “bonos y letras hipotecarias en circulación”. Indian public sector domestic securities exclude those of government-guaranteed bodies. The Brazilian private sector and the Indian corporate sector issues only cover short-term paper, while no stocks data on bonds are available. The Colombian domestic data include only the public non-financial sector. The figures for Indonesia also include government issues for restructuring purposes. For the Netherlands, the source for data on domestic medium-term notes (MTNs) is different from that for data on domestic bonds, and there may therefore be some overlaps. Furthermore, data on domestic commercial paper (CP) include foreign issues in Dutch guilders. Issues of CDs by the Netherlands Bank are included under private shortterm notes. French data on short-term notes also include foreign issues. The partly estimated data for the corporate sector of Singapore relate to issues in Singapore dollar only. UK data include domestically targeted issues in foreign currency by the Bank of England; commercial paper and medium-term notes issued by the private sector are missing. Data for US short-term notes include CDs plus other time deposits. The US data on domestic CP include foreign issues. The data for India relate to end-September 2010, while the data for Belgium, Bulgaria and Malaysia relate to end-December 2010. In Tables 17 A and 17 B, data on remaining maturities of up to one year cover money market instruments and bonds and notes which are due for repayment within one year. For a few countries, no or only partial data are available on long-term domestic debt securities which are due for final repayment within one year.
Tables 19–22
Table 19
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The data are derived from the BIS regular OTC derivatives statistics and cover the notional amounts and gross market values outstanding of the worldwide consolidated OTC derivatives exposure of major banks and dealers in the G10 countries. Figures are adjusted for double-counting and cover foreign exchange, interest rate (single currency contracts only), equity, commodity and credit derivatives (CDS). The notional amount, which is generally used as a reference to calculate cash flows under individual contracts, provides a comparison of market size between related cash and derivatives markets. Gross market value is defined as the sum (in absolute terms) of the positive market value of all reporters’ contracts and the negative market value of their contracts with non-reporting counterparties. It also measures the replacement cost of all outstanding contracts had they been settled in the reporting period. As of June 2007, item “unallocated” covers estimated positions of non-regular reporters based on the most recent Triennial Central Bank Survey 2007. For previous periods, the estimation is based on the Triennial Bank Survey 2004. “Gross credit exposure” includes gross market values after taking into account legally enforceable bilateral netting agreements. This item excludes CDS for all countries except for the US. BIS Quarterly Review, September 2011
Table 20 B
Counting both currency sides of every foreign exchange transaction means that the currency breakdown sums to 200% of the aggregate.
Tables 20 C-22 C The maturity brackets refer to residual maturities. Tables 23 A–B
Notional principal is calculated as the number of contracts multiplied by the face value of the derivatives contract, converted into US dollars. In the case of equity index derivatives, the face value is calculated as the product of the contract’s multiplier and the value of the underlying index. The notional amounts and the number of contracts outstanding corresponding to the equity index and single equity options contracts traded in North America were revised due to significant corrections by the data provider. Sources: FOWTRADEdata; Futures Industry Association; various futures and options exchanges; BIS.
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Special features in the BIS Quarterly Review June 2011
The global output gap: measurement issues and regional disparities
P Gerlach
June 2011
Rating methodologies for banks
F Packer and N Tarashev
June 2011
The predictive content of financial cycle measures for output fluctuations
T Ng
June 2011
Expansion of central clearing
D Heller and N Vause
March 2011
Systemic importance: some simple indicators
M Drehmann and N Tarashev
March 2011
Inflation expectations and the great recession
P Gerlach, P Hördahl and R Moessner
March 2011
The use of reserve requirements as a policy instrument in Latin America
C Montoro and R Moreno
March 2011
Foreign exchange trading in emerging currencies: more financial, more offshore
R McCauley and M Scatigna
December 2010
The $4 trillion question: what explains FX growth since the 2007 survey?
M R King and D Rime
December 2010
Derivatives in emerging markets
D Mihaljek and F Packer
December 2010
Counterparty risk and contract volumes in the credit default swap market
N Vause
December 2010
A user's guide to the Triennial Central Bank Survey of foreign exchange market activity
M R King and C Mallo
September 2010
Debt reduction after crises
G Tang and C Upper
September 2010
The collapse of international bank finance during the crisis: evidence from syndicated loan markets
M Chui, D Domanski, P Kugler and J Shek
September 2010
Options for meeting the demand for international liquidity during financial crises
R Moessner and W A Allen
September 2010
Bank structure, funding risk and the transmission of shocks across countries: concepts and measurement
I Fender and P McGuire
June 2010
Policy responses to dislocations in the FX swap market: the experience of Korea
N Baba and I Shim
June 2010
Currency collapses and output dynamics: a long-run perspective
C E Tovar
June 2010
Was it credit supply? Cross-border bank lending to emerging market economies during financial crisis
E Takáts
June 2010
European banks’ US dollar funding pressures
I Fender and P McGuire
March 2010
The architecture of global banking: from international to multinational
R McCauley, P McGuire and G von Peter
March 2010
Exchange rates during financial crises
M Kohler
March 2010
The dependence of the financial system on central bank and government support
P Gerlach
March 2010
The term “macroprudential”: origins and evolution
P Clement
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Recent BIS publications 1 Working Papers Weathering the financial crisis: good policy or good luck? Stephen Cecchetti, Michael R King and James Yetman http://www.bis.org/publ/work351.htm The macroeconomic performance of individual countries varied markedly during the 2007–09 global financial crisis. While China's growth never dipped below 6% and Australia's worst quarter was no growth, the economies of Japan, Mexico and the United Kingdom suffered annualised GDP contractions of 5–10% per quarter for five to seven quarters in a row. We exploit this cross-country variation to examine whether a country's macroeconomic performance over this period was the result of pre-crisis policy decisions or just good luck. The answer is a bit of both. Better-performing economies featured a better-capitalised banking sector, lower loan-to-deposit ratios, a current account surplus, high foreign exchange reserves and low levels and growth rates of private sector credit-to-GDP. In other words, sound policy decisions and institutions reduced their vulnerability to the financial crisis. But these economies also featured a low level of financial openness and less exposure to US creditors, suggesting that good luck played a part.
The value of repeat lending Blaise Gadanecz, Alper Kara and Philip Molyneux http://www.bis.org/publ/work350.htm The unique structure of syndicated lending results in information asymmetries within the lending syndicate between banks of varying degrees of seniority. While previous studies have attempted to use indirect proxy measures to capture the effects of such information asymmetries, in this paper we propose a more direct measure. This offers new insights into how junior and senior banks rely on their own and each other's information sets in lending syndicates. In particular, we look at the previous number of borrowing/lending relationships between individual borrowers and lenders and the duration of these interactions. Using this new, direct and explicit measure on a sample of 5,842 syndicated loan transactions between 1993 and 2006, we find that when participant banks have information inferiority in the syndicate they require higher loan spreads to compensate for this asymmetry. This is amplified when the borrowers are more opaque. We thus show how junior participant banks with repeat relationships with the same borrower graduate from uniformed to informed lenders (the spread goes down as asymmetry diminishes) and how they rely both on the arranger's reputation and their own repeat experience with the borrower.
How do inflation expectations form? New insights from a high-frequency survey Gabriele Galati, Peter Heemeijer and Richhild Moessner http://www.bis.org/publ/work349.htm We provide new insights on the formation of inflation expectations - in particular at a time of great financial and economic turmoil – by evaluating results from a survey conducted from July 2009 through July 2010. Participants in this survey answered a weekly questionnaire about their short-, medium- and long-term inflation expectations. Participants received common information sets with data relevant to euro area inflation. Our analysis of survey responses reveals several interesting results. First, our evidence is consistent with long-term expectations having remained well anchored to the ECB's definition of price stability, which acted as a focal point for long-term expectations. Second, the turmoil in euro area bond markets triggered by the Greek fiscal crisis influenced short- and medium-term inflation expectations but had only a very small impact on long-term expectations. By contrast, longterm expectations did not react to developments of the euro area wide fiscal burden. Third, participants changed their expectations fairly frequently. The longer the horizon, the less frequent but larger these changes were. Fourth, expectations exhibit a large degree of timevariant non-normality. Fifth, inflation expectations appear fairly homogenous across groups of agents at the shorter horizon but less so at the medium- and long-term horizons.
The international propagation of the financial crisis of 2008 and a comparison with 1931 William A Allen and Richhild Moessner http://www.bis.org/publ/work348.htm We examine the international propagation of the financial crisis of 2008, and compare it with that of the crisis of 1931. We argue that the collateral squeeze in the United States, which became intense after the failure of Lehman Brothers created doubts about the stability of other financial companies, was an important propagator in 2008. We identify some common features in the propagation of the two crises, the most important being the flight to liquidity and safety. In both crises, deposit outflows were not the only important sources of liquidity pressure on banks: in 1931, the central European acceptances of the London merchant banks were a serious problem, as, in 2008, were the liquidity commitments that commercial banks had provided to shadow banks. And in both crises, the behaviour of creditors towards debtors, and the valuation of assets by creditors, were very important. However, there was a very important difference between the two crises in the range and nature of assets that were regarded as liquid and safe. Central banks in 2008, with no gold standard constraint, could liquefy illiquid assets on a much greater scale.
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Requests for publications should be addressed to: Bank for International Settlements, Press and Communications, Centralbahnplatz 2, CH-4002 Basel. These publications are also available on the BIS website (www.bis.org). BIS Quarterly Review, September 2011
On harnessing the potential of financial inclusion Peter Dittus and Michael Klein http://www.bis.org/publ/work347.htm The development of information and communications technology is opening up the opportunity for providing essential financial services to most people. Indeed, many mobile money or branchless banking schemes are currently spreading across the world. However, these schemes can only be sustainable if they are built on a commercially viable business model. In this respect, the jury is still out. The paper describes one commercially viable initiative in more detail, M-PESA in Kenya, and analyses in detail the transactions involved. It argues that in order to harness the potential of financial inclusion it is vital to permit experimentation with different business models. Regulation is therefore required that enables such experimentation by being calibrated to the type of service offered, but which can be tightened if and when such schemes become bigger with the potential to impact financial stability: risk-proportionate regulation by service type.
Global imbalances and the financial crisis: Link or no link? Claudio Borio and Piti Disyatat http://www.bis.org/publ/work346.htm Global current account imbalances have been at the forefront of policy debates over the past few years. Many observers have recently singled them out as a key factor contributing to the global financial crisis. Current account surpluses in several emerging market economies are said to have helped fuel the credit booms and risk-taking in the major advanced deficit countries at the core of the crisis, by putting significant downward pressure on world interest rates and/or by simply financing the booms in those countries (the "excess saving" view). We argue that this perspective on global imbalances bears reconsideration. We highlight two conceptual problems: (i) drawing inferences about a country's cross-border financing activity based on observations of net capital flows; and (ii) explaining market interest rates through the savinginvestment framework. We trace the shortcomings of this perspective to a failure to consider the distinguishing characteristics of a monetary economy. We conjecture that the main contributing factor to the financial crisis was not "excess saving" but the "excess elasticity" of the international monetary and financial system: the monetary and financial regimes in place failed to restrain the build-up of unsustainable credit and asset price booms ("financial imbalances"). Credit creation, a defining feature of a monetary economy, plays a key role in this story.
Basel Committee on Banking Supervision Global systemically important banks: Assessment methodology and the additional loss absorbency requirement – consultative document July 2011 http://www.bis.org/publ/bcbs201.htm This consultative document sets out the proposal from the Basel Committee on the assessment methodology for global systemic importance, the magnitude of additional loss absorbency that global systemically important banks should have, and the arrangements by which they will be phased in. The work of the Basel Committee forms part of a broader effort by the Financial Stability Board to reduce the moral hazard of global systemically important institutions. The rationale for the policy measures set out in the document is to deal with the cross-border negative externalities created by global systemically important banks which current regulatory policies do not fully address. The measures will enhance the going-concern loss absorbency of global systemically important banks and reduce the probability of their failure. The assessment methodology for global systemically important banks is based on an indicator-based approach and comprises five broad categories: size, interconnectedness, lack of substitutability, global (cross-jurisdictional) activity and complexity. The additional loss absorbency requirements are to be met with a progressive Common Equity Tier 1 (CET1) capital requirement ranging from 1% to 2.5%, depending on a bank's systemic importance. To provide a disincentive for banks facing the highest charge to increase materially their global systemic importance in the future, an additional 1% loss absorbency would be applied in such circumstances. The higher loss absorbency requirements will be introduced in parallel with the Basel III capital conservation and countercyclical buffers, ie between 1 January 2016 and year end 2018 becoming fully effective on 1 January 2019.
Report on asset securitisation incentives July 2011 http://www.bis.org/publ/joint26.htm The Report analyses the incentives to engage in securitisation throughout the market before the financial crisis, the distortions created by misalignments and conflicts of interest which emerged, and the interplay of incentives in the aftermath of the crisis. It also examines some of the reasons why there has yet to be a meaningful recovery in securitisation activity. The Report recognises regulators can play a role in establishing a framework for securitisation that ensures that it is conducted in a prudent manner, continues to be an alternative funding source for institutions, and contributes to the availability of credit to support the real economy. They can do this by building a regulatory and supervisory framework which addresses the misaligned incentives and conflicts of interest and which supports enhanced disclosure and transparency for investors. The Report encourages policy makers, regulators and supervisors to strive for internationally and cross-sectorally consistent supervisory frameworks, and to develop and implement regulations in a timely manner.
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The Report further sets out three recommendations (some of which build on earlier work of Parent Committees). These recommendations specify that: Authorities should employ a broad suite of tools to address misaligned incentives, which may include measures to improve loan origination standards, and to align compensation arrangements with long-term performance and asset quality. Authorities should encourage markets to improve transparency to ensure that investors, other market participants, and supervisors have access to relevant and reliable information. Authorities should encourage greater document standardisation and less product complexity, which should assist in reducing information asymmetries and stimulating liquidity in secondary securitisation markets.
Resolution policies and frameworks – progress so far July 2011 http://www.bis.org/publ/bcbs200.htm The report reflects the progress being made in the area of cross-border bank resolution since the Basel Committee published a set of ten recommendations in March 2010. The report also responds to the Financial Stability Board November 2010 recommendations on systemically important financial institutions for an assessment of the legislative and other changes to national regimes and policies needed to accomplish effective resolution of systemically important financial institutions. The key findings of the report are: Progress has been made in many jurisdictions with the adoption of special administrative resolution regimes aimed at the maintenance of financial stability and the protection of depositors. A critical feature of these regimes is to transfer part or all of a failing bank's assets, liabilities and financial contracts to a bridge bank. Some jurisdictions continue to lack these and other important legal powers set out in the Basel Committee's 2010 recommendations or continue to rely on general corporate insolvency procedures. Such procedures are too slow, too costly and come too late to resolve a failing bank in manner that ensures continuity of its essential financial functions. Further work is required on cross-border resolution as complications continue to arise from discrepancies among national regimes. In particular, these relate to legal powers, the ranking of depositor and other creditor claims, and the capacity of national authorities to share information and coordinate actions with resolution authorities in other jurisdictions. The legal, operational and cross-border complexities underline the crucial importance of effective contingency planning and the need for actions that reduce unnecessary complexity and promote resolvability. Some jurisdictions are working on solutions that involve improved risk management or reductions of intra-group guarantees. National authorities appear to be at different stages of developing recovery and resolution plans for systemically important financial institutions. In view of the importance of these plans for systemic stability, national authorities will need to move forward quickly in this area. The Committee's report stresses the need to accelerate reforms of domestic resolution regimes and tools and of frameworks for cross-border enforcement of resolution actions.
Basel III framework for liquidity – Frequently asked questions July 2011 http://www.bis.org/publ/bcbs199.htm The Basel Committee on Banking Supervision has received a number of interpretation questions related to the 16 December 2010 publication of the Basel III regulatory frameworks for capital and liquidity. To help ensure a consistent global implementation of Basel III, the Committee has agreed to periodically review frequently asked questions and publish answers along with any technical elaboration of the rules text and interpretative guidance that may be necessary. This document sets out the first set of frequently asked questions that relate to Basel III's liquidity rules. The first section of the document provides clarification on the calculation of the cap on Level 2 assets with regard to short-term secured funding. Section 2 addresses other questions and answers pertaining to the Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) of the rules text. Section 3 sets out miscellaneous edits to the rules text.
Basel III definition of capital – Frequently asked questions July 2011 http://www.bis.org/publ/bcbs198.htm The Basel Committee on Banking Supervision has received a number of interpretation questions related to the 16 December 2010 publication of the Basel III regulatory frameworks for capital and liquidity and the 13 January 2011 press release on the loss absorbency of capital at the point of non-viability. To help ensure a consistent global implementation of Basel III, the Committee has agreed to periodically review frequently asked questions and publish answers along with any technical elaboration of the rules text and interpretative guidance that may be necessary. This document sets out the first set of frequently asked questions that relate to the definition of capital sections of the Basel III rules text. The questions and answers are grouped according to the relevant paragraphs of the rules text.
Pillar 3 disclosure requirements for remuneration – final document July 2011 http://www.bis.org/publ/bcbs197.htm The objective of these additional Pillar 3 requirements on remuneration is to support an effective market discipline and to allow market participants to assess the quality of a bank's compensation practices. These requirements should also contribute to promote a greater convergence and consistency of disclosure on remuneration. The Committee's proposed Pillar 3 disclosure requirements on remuneration add greater specificity to the disclosure guidance on this topic that was included in the supplemental Pillar 2 guidance issued by the Committee in July 2009. The proposals cover the main components of sound remuneration practices and take full account of the Financial Stability Board's Principles for Sound Compensation Practices and their related Implementation Standards.
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Operational Risk – Supervisory Guidelines for the Advanced Measurement Approaches – final document June 2011 http://www.bis.org/publ/bcbs196.htm The Basel Committee on Banking Supervision issued two papers on operational risk: Principles for the Sound Management of Operational Risk and Operational Risk – Supervisory Guidelines for the Advanced Measurement Approaches. The regulatory capital adequacy framework envisages that, over time, the operational risk discipline will continue to mature and converge towards a narrower band of effective risk management and measurement practices. The guidance on advanced measurement approaches promotes improvement in this area by setting out supervisory guidelines relating to governance, data and modelling. A consultative version of this report was issued for public consultation in December 2010. The Committee appreciates the constructive comments received and thanks those who have taken the time and effort to express their views on the consultative document.
Principles for the Sound Management of Operational Risk – final document June 2011 http://www.bis.org/publ/bcbs195.htm The Basel Committee on Banking Supervision issued two papers on operational risk: Principles for the Sound Management of Operational Risk and Operational Risk – Supervisory Guidelines for the Advanced Measurement Approaches. Principles for the Sound Management of Operational Risk, which was originally issued in 2003 as Sound Practices for the Management and Supervision of Operational Risk, highlights the evolution of operational risk management over this period. The principles outlined in the report are based on best industry practice and supervisory experience and cover three overarching themes: governance, risk management and disclosure. A consultative version of this report was issued for public consultation in December 2010. The Committee appreciates the constructive comments received and thanks those who have taken the time and effort to express their views on the consultative document.
Basel III: A global regulatory framework for more resilient banks and banking systems – revised version June 2011 June 2011 http://www.bis.org/publ/bcbs189.htm Comments on the revision: On 1 June 2011, the Basel Committee on Banking Supervision announced that it has completed its review of and finalised the Basel III capital treatment for counterparty credit risk in bilateral trades. The review resulted in a minor modification of the credit valuation adjustment, which is the risk of loss caused by changes in the credit spread of a counterparty due to changes in its credit quality (also referred to as the market value of counterparty credit risk). See the related press release. A revised version of the Basel III capital rules reflecting the CVA modification is now available on the BIS website. The original version was published in December 2010.
Committee on the Global Financial System Fixed income strategies of insurance companies and pension funds July 2011 http://www.bis.org/publ/cgfs44.htm Insurance companies and pension funds are at the intersection of major developments. Having weathered the financial crisis, they now face important changes in international regulation and accounting standards. At the same time, their business models and balance sheets remain exposed to the low-interest rate environment. Against this backdrop, the present report examines how life insurance companies and pension funds might alter their investment strategies and asset allocations, and assesses the likely consequences for market functioning and funding of various economic sectors arising from such changes.
The impact of sovereign credit risk on bank funding conditions July 2011 http://www.bis.org/publ/cgfs43.htm Sovereign credit risk is currently a significant issue for European banks and over coming years may have implications for global financial stability. This report examines the relationship between sovereign credit risk and bank funding conditions, how banks might respond to an environment of ongoing elevated sovereign risk and the implications for policy makers. It was prepared by a Study Group chaired by Fabio Panetta from the Bank of Italy. The report concludes that increases in sovereign credit risk push up the cost and weaken the composition of banks' funding, and that banks cannot fully insulate themselves by adjusting their operations. As a consequence, the official sector has a key role in minimising the impact of weaker public finance conditions on banks, but there are trade-offs. First and foremost, governments need to maintain sound public finance conditions. Bank supervisors should also closely monitor the interaction of sovereign risk with regulatory policies that encourage banks to hold large quantities of public debt. Central banks might also consider having flexible collateral frameworks that, during severe crises, allow funding to be supplied against a broad range of collateral, but this is not costless, and hence should be used sparingly and with appropriate safeguards in place.
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Committee on Payment and Settlement Systems Payment, clearing and settlement systems in the CPSS countries – Volume 1 September 2011 http://www.bis.org/publ/cpss97.htm The Committee on Payment and Settlement Systems (CPSS) publishes – under the aegis of the Bank for International Settlements (BIS) – reference works on the payment systems and other financial market infrastructures of various countries, widely known as Red Books. The Red Book for the CPSS countries was last published in April 2003. After the enlargement of the CPSS to 24 countries in 2009, this edition of the Red Book for the CPSS countries is in two volumes. This first volume comprises 10 CPSS countries: Australia, Brazil, Canada, India, Korea, Mexico, Russia, Singapore, Sweden and Switzerland. The second volume, which covers Belgium, China, France, Germany, Hong Kong SAR, Italy, Japan, the Netherlands, Saudi Arabia, South Africa, Turkey, the United Kingdom and the United States and also has chapters on the euro area and international payment arrangements, is planned to be published in 2012. Properly functioning financial market infrastructures enhance the stability of the financial sector, reduce transaction costs in the economy, promote the efficient use of financial resources, improve financial market liquidity and facilitate the conduct of monetary policy. I hope that this new edition of the CPSS Red Book will contribute to the general understanding and awareness of these issues by providing information on the arrangements in the CPSS countries. I would like to thank all those who contributed to the publication of this Red Book by writing their country texts. Thanks also to the BIS staff for making this volume ready for publication, and particularly to David Maurer, who coordinated the production and led the process of editing the country texts. William C Dudley, Chairman Committee on Payment and Settlement Systems
Report on OTC derivatives data reporting and aggregation requirements – consultative report August 2011 http://www.bis.org/publ/cpss96.htm This consultation report is about the OTC derivatives data that should be collected, stored and disseminated by trade repositories (TRs). CPSS and IOSCO support the view that TRs, by collecting such data centrally, would provide the authorities and the public with better and timely information. This would make markets more transparent, help to prevent market abuse and promote financial stability. The report addresses Recommendation 19 in the October 2010 report of the Financial Stability Board (FSB), Implementing OTC derivatives market reforms, which called on the CPSS and IOSCO to consult with the authorities and the OTC Derivatives Regulators Forum in developing: (i) minimum data reporting requirements and standardised formats, and (ii) the methodology and mechanism for data aggregation on a global basis. The proposed requirements and data formats will apply to both market participants reporting to TRs and to TRs reporting to the public and to regulators. The report also finds that certain information currently not supported by TRs would be helpful in assessing systemic risk and financial stability, and discusses options for bridging these gaps. Issues relating to data access for the authorities and reporting entities are discussed, including methods and tools that could provide the authorities with better access to data. Public dissemination of data, it is noted, promotes the understanding of OTC derivatives markets by all stakeholders, underpins investor protection and facilitates the exercise of market discipline. The report also covers the mechanisms and tools that the authorities will need to aggregate OTC derivatives data. It advocates a system of standard legal entity identifiers (LEIs) as an essential tool for aggregation of such data. It further recommends that TRs actively participate in the LEI's development and use the system once it becomes available. As the implementation of a universal LEI will require international cooperation, it is noted that further international consultation would be beneficial. Comments on the report are invited from all interested parties and should be sent by 23 September 2011 to both the CPSS secretariat (
[email protected]) and the IOSCO secretariat (
[email protected]). Published along with the report is a cover note that sets out specific issues on which the committees seek comments during the public consultation period. The comments will be published on the websites of the BIS and IOSCO unless commentators have requested otherwise. After the consultation period, the CPSS and IOSCO will review all comments received and publish a final report by the end of 2011.
Speeches Regulatory reform: remaining challenges Speech by Mr Jaime Caruana, General Manager of the BIS, at the annual Pierre Werner Lecture, Luxembourg, 7 July 2011 http://www.bis.org/speeches/sp110711.htm Despite significant progress in a number of crucial areas since the global financial crisis, the global economy and financial system remain vulnerable to unexpected shocks, and the likelihood of some adverse scenarios materialising has not decreased. There remain important challenges for financial reform. These fall into four broad groups. First, there is a need to consistently implement the substantial reforms already agreed. Basel III raises the level and quality of capital in the system, improves risk capture, calls for the conversion of all regulatory capital to common equity at the point of non-viability and, for the first time, sets standards for liquidity. Second, there is a need to build a resilient financial system given a still weak recovery. Two studies conducted last year under the auspices of the BIS found that the growth costs of implementing Basel III, both in the transition and in the steady state,
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are likely to be modest, and far outweighed by the benefits. A sound recovery is contingent on having a secure financial system. Third, there is a need to complete the regulatory reform agenda. In particular, systemically important financial firms need higher loss absorption capacity and sound resolution frameworks, while the risks relating to shadow banking must be monitored and reduced. And fourth, there is a need to ensure adequate oversight, both macroprudential oversight and more proactive prudential supervision. Completing the regulatory reform agenda and seeing that it is implemented are part of the broader challenge of providing a framework for macroeconomic stability. All three elements of policy – fiscal, monetary and prudential – will need to work together to deliver strong, sustainable global growth.
Central banking between past and future: which way forward after the crisis? Speech by Mr Jaime Caruana, General Manager of the BIS, at the South African Reserve Bank 90th Anniversary Seminar, Pretoria, 1 July 2011 http://www.bis.org/speeches/sp110707.htm Central banks face serious economic, intellectual and institutional challenges in the years ahead. In meeting these challenges, central banks should consider four guidelines. First, monetary policy strategies should allow central banks to lean against the build-up of financial imbalances even if near-term inflation remains low and stable. This calls for an extension of policy horizons beyond the typical two years. Second, the monetary policy responses to financial busts should be more balanced. The currently prevailing view, which prescribes very aggressive and prolonged monetary easing, underestimates the resulting collateral damage. Third, monetary policy should take into account spillover effects across currency areas. In a highly integrated world, purely domestically oriented policy approaches are bound to be inadequate. Fourth, central banks need operational independence in the pursuit of new tasks in financial regulation and supervision. The well known arguments for central bank independence in the context of price stability apply with even greater force in the context of financial stability.
General Manager's statement Statement by Mr Jaime Caruana, General Manager of the BIS, at the BIS press conference on the occasion of the Bank's Annual General Meeting, Basel, 26 June 2011 http://www.bis.org/speeches/sp110626b.htm A warm welcome to you all. I am accompanied by Stephen Cecchetti, who is the BIS Economic Adviser and Head of our Monetary and Economic Department. Before Steve and I take your questions on this year's Annual Report, I would like to highlight its main messages. In a number of crucial respects, the picture today is better than it was a year ago, and much better than it was two years ago. The gap between world demand and productive capacity is closing. The global economy is growing at a respectable rate. In some of the economies hardest hit by the financial crisis, output is back to its pre-crisis level. The resurgence of demand has put concerns about deflation behind us. And international regulatory reform has proceeded speedily. The agreement on Basel III is a major step forward. After four years, however, the financial crisis and the ensuing policy responses still cast long shadows. Global growth is uneven. As evidenced by the sovereign debt crises that have erupted, the threats posed by the unsustainable trajectories of public sector debt have materialised. With energy and commodity prices soaring, inflation has become a reality in many countries and a threat in others. In the crisis-hit countries, the repair of private sector balance sheets still has some way to go, and excess capacity still burdens the financial and construction sectors. Financial systems remain vulnerable. And looking outside the countries that were at the centre of the financial crisis, we also see several emerging market economies in which domestic asset prices and credit are surging – all too familiar signs of the build-up of financial vulnerabilities. And as these developments unfold, global monetary and financial conditions remain unusually accommodative. These developments raise serious risks for the economic outlook and financial stability. And they all reflect the challenges left by the financial crisis. The boom phase of the financial cycle had raised output growth beyond sustainable rates while masking sectoral distortions and growing vulnerabilities. The resulting imbalances now need to be rectified, and as they are, growth is bound to be slow. Policymakers should not hinder this inevitable adjustment. The overarching policy challenge is to build a solid foundation for robust, stable and sustainable growth. This requires urgent policy actions now – fiscal, monetary, structural and prudential – taking a long view to avoid larger costs in the future. All of these play a role in a new policy framework designed to ensure lasting monetary and financial stability. Let me say a few words about each of these – both the actions and the framework. First, the need for fiscal consolidation is even more urgent than it was a year ago. Pushed up by commitments to ageing populations, industrial countries' fiscal trajectories have been on an unsustainable path for some time. But the financial crisis, and the response to it, brought the fiscal reckoning forward. In countries that experienced asset price and credit booms, policymakers have come to recognise the significant hole left by the collapse in temporarily inflated revenues. While fiscal problems are most apparent in several euro area countries, other major economies also need to manage their situations carefully and make efforts to consolidate fiscal positions quickly, not least because they have a big impact on global financial conditions. Second, there is a need to normalise monetary policy. Globally, real short-term interest rates, already negative, fell further over the past year. Normalising rates would reduce the incentives to take excessive risk and would support necessary structural and balance-sheet adjustments. It would help restrain the build-up of financial imbalances in the economies where growth is most vibrant and contribute to correcting current account imbalances. The more active use of macroprudential measures in emerging market economies is welcome, but it cannot substitute for monetary tightening. Normalising monetary policy can also complement the structural policies needed to move us away from the unsustainable combination of leverage-led and export-led growth. Third, excess capacity in the financial and real estate sectors must be addressed. In the financial sector, tough stress tests, supported by recapitalisation measures, are essential. But they need to be complemented by policies that reduce excess capacity in the financial sector and lay the basis for sustainable profitability. Without a stronger and leaner financial system, it will be impossible to withdraw the extensive public support that is still in place.
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Fourth, Basel III needs full and consistent implementation worldwide. Beyond that, we need higher standards and credible resolution mechanisms for systemically important financial institutions; we must monitor and reduce the risks posed by shadow banking systems; and the financial statistics we use must be improved. The road ahead is likely to be bumpy. Making sure that banks are prepared for shocks requires building strength now. Instead of taking the maximum time to reach the minimum standards, there is a good case for going faster and going further. Perhaps this time we will see a virtuous race to the top. The more enduring lessons of the crisis, however, are not just about policy actions, but also about policy frameworks. Building a solid foundation for monetary and financial stability requires fiscal policy that builds up the buffers required for crisis management; monetary policy that actively supports financial stability; and regulation and supervision that has a strong macroprudential orientation. This framework necessarily rejects short-termism in favour of a long-term view. And it builds on the principle that keeping one’s house in order is essential but not enough: international policy cooperation is critical.
Building a lasting foundation for sustainable growth Speech delivered by Mr Jaime Caruana, General Manager of the BIS, on the occasion of the Bank’s Annual General Meeting, Basel, 26 June 2011 http://www.bis.org/speeches/sp110626a.htm Good afternoon, ladies and gentlemen, In a number of crucial respects, the picture today is better than it was a year ago, and much better than it was in June 2009. While serious vulnerabilities remain and hard work lies ahead, it is important that we don’t lose sight of how far we have come. Taking the global economy as a whole, the gap between world demand and productive capacity is closing. And the world economy is growing at a historically respectable rate of around 4 per cent. The recovery, although slow and uneven, has raised output to its pre-crisis levels in some of the countries hardest hit. The resurgence of demand has put concerns about deflation behind us. Accordingly, the need for continued extraordinary monetary accommodation has faded. The financial reform agenda has moved forward rapidly with the agreement reached on Basel III. Banks have already increased their capital base significantly. A macroprudential approach that focuses on systemic risk forms a fundamental part of the new framework and internationally agreed standards. These are no small achievements, and not one of them was assured a year ago. After four years, however, the financial crisis and the ensuing policy responses continue to cast long shadows. Economies and financial systems are still vulnerable to even modest shocks, and the likelihood of severely adverse developments has not decreased. The global recovery remains uneven, and global headline inflation has risen a full percentage point, to 3.6 per cent, since April of last year. In the advanced economies at the centre of the crisis, overall deleveraging and structural adjustment is still incomplete. Excess capacity remains in the financial and construction sectors. The repair of private balance sheets still has some way to go. And the threats posed by public sector debt have materialised, reaching a crisis point in some countries. There are still substantial risks of contagion between sovereign and financial sector fragilities. Some emerging market economies exhibit the all-too-familiar signs of rising financial vulnerabilities, as domestic credit and asset prices surge. Sizeable current account imbalances are very much with us, and gross capital flows pose risks even to economies running current account surpluses. As these developments unfold, global monetary and financial conditions remain unusually accommodative. In the remainder of my remarks, I will describe these legacies of the crisis, and then turn to the policies – fiscal, monetary, structural and prudential – that can contribute to the lasting foundation for robust, stable and sustainable growth. Those policies, in turn, need to be part of a broader, integrated framework in which policymakers act promptly both with a longterm perspective – paying modest costs today to avoid larger costs tomorrow – and with attention to the global repercussions of their policies. In the end, cooperation will make everyone better off. Challenges and policies for stable and sustainable growth As we leave the crisis behind us, it is important to understand the underlying source of the challenges it has left. We experienced the bust of a global financial cycle. During the preceding boom, there was a tendency not only to underestimate financial risk, but to overestimate the economy’s potential growth rate and its capacity to generate sustainable tax revenue. And associated with this was a failure to recognise emerging structural imbalances that would ultimately damage the foundations of sustainable long-run growth. I will highlight four challenges that were left by the crisis: fiscal reckoning; inflation; excess capacity together with the unfinished adjustment of private sector balance sheets; and financial vulnerabilities. Fiscal reckoning The economic downturn, the tax cuts and expenditure increases in response to the crisis, and the cost of recapitalising the financial sector have all brought forward the fiscal reckoning. In countries that experienced credit booms, policymakers have come to recognise the significant hole left by the collapse in tax revenues that had been only temporarily boosted by the boom. The aftermath is a sovereign debt crisis. In many cases, recent events simply brought forward an approaching problem. Without corrective measures, the fiscal trajectories of some of the world's largest advanced economies are unsustainable. This is not news. Rising dependency ratios, expensive publicly funded programmes for retirement and health care and the like put future commitments well in excess of future revenues. Financial market participants can ignore such looming problems for a long time until, suddenly, they enforce changes that are swift and painful. Thus, the need for fiscal consolidation is even more urgent than when I spoke a year ago. According to the OECD, the average OECD country must improve its primary balance by nearly 7 per cent of GDP just to stabilise its debt-to-GDP ratio by 2026. We will not have lasting macroeconomic and financial stability until we have taken decisive measures to put public finances on a sound and credible path. The creditworthiness of the sovereign is a prerequisite for a well-functioning economy. The default of the sovereign breaks the social contract and undermines the trust that is essential to the smooth running of both the state and the economy. No economy – no matter how large, rich and powerful – is immune to the risks posed by fiscal incoherence. Nowhere is the link between fiscal sustainability and financial health more apparent than in parts of Europe today. In some European countries, vulnerabilities in the financial sector weakened the state; in others, public sector weakness has infected the banks; in all, the resulting fragilities now jeopardise the benefits of economic and financial integration. There
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is no easy way out, no shortcut, no painless solution – that is, no alternative to the rigorous implementation of comprehensive country packages including strict fiscal consolidation and structural reforms. The design of the euro area’s fiscal and competitiveness arrangements must lead to predictable, reliable and less discretionary early corrective action in good times. Unfortunately, Europe does not have a monopoly on urgent fiscal challenges. The big economies also need to manage their situations carefully and make efforts to consolidate fiscal positions quickly, not least because they have a big impact on global financial conditions. Inflation, side-effects and low interest rates The welcome recovery and absorption of spare resources have brought with them the less welcome spectre of inflation. As they did in the early 1970s, booming commodity prices may point to a more serious problem. Prices of food, energy, metals and the like are more sensitive to shifts in supply and demand than are the prices of either manufactured goods or services. And, unlike in the past two decades, prices of internationally traded manufactured goods look to provide little inflation offset, as wages and prices are rising in emerging markets. Despite the apparent persistence of slack in some parts of the world, there are risks of second-round effects and of rising inflation expectations. Very accommodative monetary policy conditions in the economic regions most affected by the turmoil have been transmitted globally through bond and equity markets and bank credit. Double-digit growth in US dollar loans to non-US residents is just one example of how borrowing in major currencies is providing cheap credit even where central banks have tightened. Extraordinarily loose financial conditions may have undesirable side-effects. We are all familiar with the list. Low interest rates can delay balance-sheet repair, encourage dangerous risk-taking in segments of financial markets and, in the process, make the eventual exit from official support more hazardous. They can intensify investors' eagerness to place funds in booming emerging market economies, encouraging the build-up of financial imbalances there. The more active deployment of macroprudential tools in emerging market economies is welcome, but cannot substitute for monetary tightening. The longer that interest rates are low, the more severe these side-effects and the greater the risk of a disruption when yields inevitably rise. There is a need to normalise monetary policy. The prevailing, extraordinarily accommodative policy rates will not deliver lasting monetary and financial stability. Real short-term interest rates have actually fallen in the past year, from minus 0.6 per cent to minus 1.3 per cent globally. History teaches us that recoveries from financial crises are slower and less robust than those after ordinary recessions. After a financial crisis, it takes longer for debt burdens to fall, balance sheets to be repaired, unproductive capital to be scrapped, and labour to be reallocated. Policymakers should not hinder this inevitable adjustment. Normalising policy too late and too slowly may undermine inflation-fighting credibility as well as risk further damage from the delay of structural and balance-sheet adjustments. More normal interest rates lessen the temptation to muddle through, and they place the focus squarely on the needed adjustments. Monetary policy tightening can also aid the adjustment in current account imbalances. By encouraging currency appreciation in countries that are growing more quickly, it will contribute to correcting imbalances there. It can also complement the structural policies needed to rebalance growth patterns globally, moving us away from the unsustainable combination of leverage-led and export-led growth. Excess capacity and unfinished balance-sheet adjustments Excess capacity in finance and real estate points to unfinished adjustments in the crisis-stricken economies. The financial industry has built capital buffers, but overall leverage in the economy – private and public – remains too high. The simple mean of household debt-to-GDP for the US, the UK and Spain declined by only 2 percentage points from 2007 to the end of 2010, while over the same period for the same countries, government debt-to-GDP rose 30 percentage points. Until losses are revealed and balance sheets repaired, funding problems and distortions will persist. This is an important feature of economies after the bust of a credit boom. In particular, the post-crisis financial system remains large relative to the economy as a whole: excess leverage and excess capacity have not been shed. Policymakers must intensify their efforts to promote the repair of financial sector balance sheets and to set the conditions for banks' long-term profitability. The macroeconomic road is likely to be at least as bumpy next year as it has been this year. This means making sure that banks are ready when the next shock inevitably comes. Tough stress tests, supported by recapitalisation measures, are essential. Moreover, without a stronger and leaner financial system, it will be impossible to withdraw the extensive public support that is still in place. No financial system can operate safely and effectively under conditions that are creating both moral hazard and the resource misallocations that come with it. Financial vulnerabilities Despite efforts to date, sovereign and financial sector risks continue to feed on each other. Short-term bank funding needs remain high, and the risks of interest rate surprises continue to be elevated. Elements of global finance are prolonging financial fragilities: these include not only low policy rates and expectations of continued official support, but also high expectations of returns on bank equity. Investors need to lower their expectations of such returns in accord with lower bank leverage. At the same time, there are signs of a return to excessive risk-taking. While encouraging investors to take some risk was part of crisis management, there are signs that, in some areas, investors may be going too far again. Moreover, several of the more vibrant economies of the world are exhibiting signs of an unsustainable credit boom. Credit levels and asset prices have moved outside their historical ranges, signalling the emergence of financial vulnerabilities. History may never actually repeat itself, but it does have a recurring tempo and tone. These developments portend yet another damaging financial cycle. We should not underestimate the work required to complete financial reform. Basel III needs full and consistent implementation worldwide. We need to demand higher standards for systemically important financial institutions and credible mechanisms for their orderly resolution. The risks posed by shadow banking systems must be monitored and reduced. Improvements are needed in the statistics and processes for monitoring systemic risks, nationally and globally. Where credit booms and output are advancing strongly, authorities should consider imposing the Basel III countercyclical buffer to make banks more resilient. And throughout all this, we need to make the arrangements flexible enough to keep pace with the rapidly evolving financial system and the incentives to arbitrage restrictions away. To sum up, early action is needed. The question is not whether to consolidate fiscal policy. It is not whether to normalise monetary policy. And it is not whether to accelerate structural adjustment. It is when and how each of these will happen. Fiscal trajectories must be put on sustainable paths, monetary conditions should be normalised, and adjustments in the real economy and balance sheets should be accelerated. Early action will reduce vulnerabilities, lower repair costs and strengthen resistance to unexpected events. This is particularly true for the resilience of financial firms. Where possible, we should build strength now. Instead of taking the maximum time to reach the minimum standards, there is a good case for going faster and going further. Perhaps this time we will see a virtuous race to the top.
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Policy frameworks The more enduring lessons of the crisis, however, are not just about policy actions, but about policy frameworks. A lasting foundation for monetary and financial stability requires regulation and supervision with a strong macroprudential orientation; monetary policy that plays an active role in supporting financial stability; and fiscal policy that amasses the buffers required for effective crisis management. These policies share two features. One rejects short-termism in favour of a long-term view. The other frees us from home bias in policymaking, allowing us to do more than just “keep our own house in order”. The first feature requires policymakers to keep an eye on the long-term horizon if they are to pre-empt the slow build-up of financial imbalances that can derail growth, cripple monetary policy and trigger sovereign crises. The governance of macroprudential policy must encourage decision-makers to take a long view based on the principles of independence, clarity and accountability. This suggests that central banks should play a key role. Fiscal policy also needs to take a long-term view. Governments, like financial firms, must build up buffers. Fiscal policy should aim at maintaining a very low level of debt during normal times so that governments are ready for the next, inevitable shocks. And policymakers should recognise that the level of revenue collected in the midst of a credit boom is unsustainable. The second feature tells policymakers that, in an integrated global economy, keeping their own house in order is not enough. No individual economy is safe unless the global economy is safe. The fortunes of individual countries and the adequacy of their policies can be accurately assessed only as part of the global conditions that, collectively, they help to shape. For instance, if every central bank views commodity price movements as outside its control, then global monetary policy can be too loose. Just as each big private bank generates systemic effects that it must internalise, so too each country’s policies create international spillovers that it must take on board. Building a lasting foundation for low inflation, robust growth and a stable financial system requires early action in the face of uncertainty. It will require not only good ideas, hard work and difficult adjustments but also collaboration, cooperation and coordination both nationally and internationally. Developing a shared understanding of the challenges, and working towards common solutions, is what international cooperation is all about. As it has throughout its history, the BIS will continue to pursue this core mission.
Monetary policy in a world with macroprudential policy Speech by Mr Jaime Caruana, General Manager of the BIS, at the SAARCFINANCE Governors’ Symposium 2011, Kerala, 11 June 2011 http://www.bis.org/speeches/sp110610.htm Introduction Ladies and gentlemen, it is a privilege to be able to speak today to this distinguished group of Governors. As for my subject, I will focus on how monetary policy might need to adjust to the implementation of new macroprudential frameworks. To speak on this topic in India is almost presumptuous, given that the Reserve Bank of India is among those central banks, mainly Asian ones, that have successfully combined both monetary policy and macroprudential measures. So please take my remarks more as an invitation to a productive debate – one in which your contribution will be immensely valuable. Much has already been done to ensure that financial supervision and regulation incorporate a systemic view of risks and to establish effective macroprudential frameworks. Basel III will increase the resilience of the banking system and will introduce a macroprudential overlay. Oversight bodies and macroprudential authorities will actively monitor systemic risk and act to constrain excessive leverage and maturity transformation. These are just two important elements that will have healthy long-lasting effects on the financial system and economy. As we know, however, more needs to be done to strengthen the financial system. To be sure, a more stable, more resilient and less procyclical banking system will also improve the effectiveness of monetary policy transmission. But to understand the full impact on monetary policy, we need to understand how the new macroprudential frameworks will change the behaviour of the financial system and the real economy. These changes mean that monetary policy will have to adapt. How it adapts will depend on the way in which macroprudential and macro policies interact. This brings to the fore not only technical issues but also policy and governance considerations. Perhaps it is too early for definite conclusions. Key reforms are still under way. For example, the Basel III liquidity ratios will improve liquidity management in banks, but may also affect capital markets and monetary policy transmission mechanisms. These effects will need to be analysed closely during the scheduled observation period. Today, however, I would like to offer some tentative thoughts on some propositions and principles. My main focus will be the interplay between macroprudential frameworks and monetary policy. 1. Define macroprudential policy and its aims narrowly In what follows, I will define macroprudential policy as the use of primarily prudential tools to limit system-wide financial risk, and so prevent disruption to key financial services and the economy. 1 Thus, macroprudential policy is defined by its aim (limiting system-wide financial risk), the scope of analysis (the financial system as a whole and its interactions with the real economy), a set of powers and instruments and their governance (prudential tools and those specifically assigned to macroprudential authorities). This definition highlights a couple of points. First, the set of macroprudential tools is not as large as sometimes believed. It may be tempting to consider as macroprudential any tool that can influence systemic risk and financial stability. But such a definition is too broad, as almost anything can have an impact on systemic risk. Monetary, fiscal and competition policies are cases in point. Moreover, a too-broad definition could argue for the adoption of measures whose primary aim has nothing to do with addressing systemic risk and whose effectiveness may be doubtful in that context. Capital controls could be one example. Second, macroprudential policy should not be considered a tool for the management of aggregate demand. To safeguard macroeconomic stability, there is no substitute for sound monetary and fiscal policies. Unless these policies anchor domestic inflation and ensure the country’s long-term solvency, the result will be serious macroeconomic instability. To be sure, the economy will be more stable if systemic risk is contained. But to rely on macroprudential policy as a first line of defence against inflation or other macroeconomic imbalances is bound to lead overall policy astray. Macroprudential policy can, at best, play a supportive role. This leaves open the question of how narrowly the macroprudential objective should be defined. To answer that question, we first need to ask how a macroprudential framework should deal with financial cycles and procyclicality – a key source of financial instability. Recent experience has confirmed that financial crises often result from mutually reinforcing
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feedback between the financial system and the real economy. Financial forces can drive and feed economic expansions. Unsustainable developments often show up in unusually rapid credit and asset price growth, together with burgeoning risk appetite. As external funding constraints are eased, they promote additional risk-taking and economic exuberance. During the boom, the financial system may miss the chance to build up sufficient capital and liquidity buffers while this could easily and cheaply be done. As a result, it cannot withstand the subsequent bust. When the unsustainable can no longer be sustained, a financial crisis breaks out. This can be very costly, both economically and socially. From this perspective, one could single out two possible objectives for a macroprudential framework. A narrow aim would be to increase the resilience of the financial system. A broader, more ambitious one would seek to constrain the upswing of the financial cycle itself. To achieve the narrow aim, all we need to do is to build up buffers during the boom so that they can be used as risks materialise during the bust. For the broader objective, the build-up of the buffers should itself act as an effective speed-limit, restraining the credit and asset price boom. The narrow objective would accept that financial cycles and imbalances could be material despite the best efforts of policymakers. At the same time, it would recognise that, by cushioning the bust, the macroprudential framework would limit the downside of the financial cycle. But it would remain more agnostic about its restraining impact during the boom. My view is that we should be modest in our expectations. The evidence strongly indicates that macroprudential tools strengthen the banking system's resilience against the bust. At the same time, it suggests that their effectiveness in restraining the boom is more mixed and varies across instruments and financial structures. For example, some countries report that loan-to-value ratios and special provisioning requirements have helped to contain asset price inflation and credit growth in the real estate sector. Several years ago, the Reserve Bank of India raised the Basel weights for household loans, as well as mandating higher loan loss reserves, in the face of rapid household credit growth. Household loans subsequently slowed, even as business loans accelerated; this suggests prima facie that the measures were effective. But it is less clear how far this experience might apply to other financial systems with different capital markets and banking structures. In addition, capital buffers may need to be raised substantially before they can restrain credit expansion: by its nature, capital is ample and cheap in good times. I draw two conclusions from this. First, a macroprudential strategy is likely to have to rely on a range of reinforcing policies and instruments in order to effectively and sustainably constrain credit growth and asset price booms. Second, given the uncertainties involved at this stage, it would be wise to avoid overly ambitious objectives. We should design the frameworks to provide effective speed limits. But we should not go so far as to judge on this basis whether a macroprudential framework has succeeded or failed. We should be modest in our expectations about this wider objective. 2. Macroprudential policy is not enough to ensure financial stability: other policies have to play their part Can we rely exclusively on a macroprudential framework to ensure the desired degree of financial stability? I would argue that the answer is "no". At a minimum, both fiscal and monetary policies need to play a more active role than they have in the past. Let me just say a few words about fiscal policy, as it is not the main subject of my presentation. The plight of the euro area is a telling example of how sovereign solvency is the prerequisite for financial stability. Emerging market countries know this all too well. History also indicates that, during credit and asset price booms, fiscal positions look deceptively rosy. The conclusion is simple. For fiscal policy, we need to apply the same principles that apply to a macroprudential framework: namely, build up buffers in good times so that they can be drawn down in bad times. This means running prudent budget surpluses in good times. And it means not being fooled by the one-off revenues that private sector financial imbalances generate as they build up. Views about the appropriate role of monetary policy have evolved in the light of the financial crisis. Pre-crisis, the relationship between financial stability and monetary stability was typically regarded as quite simple, at least in most advanced economies. At the cost of oversimplifying, two propositions summarised this view. First, price stability is sufficient for macroeconomic stability. To put it less provocatively, price stability, together with developed and efficient financial markets, would either prevent financial crises or, if they did happen, keep them to manageable proportions. Second, monetary stability should be achieved by mandating an independent central bank with a narrowly specified inflation target. Not surprisingly, standard macro models treated this view as axiomatic and often failed even to mention banks. The crisis showed that this paradigm is too narrow. First, it reminded us that financial imbalances can build up even without inflation. Inflation was subdued in the mid-2000s. Yet, at the same time, unsustainable asset price booms developed in many countries, setting the stage for disaster. Evidently, aiming to maintain price stability over a typical two-year policy horizon is not a sufficient safeguard against financial and macroeconomic instability. Second, the crisis hammered home the message that the correction of financial imbalances can put a huge strain on monetary policy. During the crisis, deflationary pressures and plummeting output induced many policymakers to lower rates until they effectively hit the zero lower bound. Central banks also engaged in aggressive balance sheet policies. As a by-product, these policies increased central banks' financial risks and put their budgetary independence into question. Thus, the crisis showed that a strategy that limits itself to post-bust cleaning up carries huge costs and can cripple monetary policy effectiveness. More generally, the maintenance of financial stability is too big a burden to rest exclusively on prudential policies, macroprudential included. First, as already noted, it is difficult to constrain the build-up of financial imbalances even with a combination of policies. And the results are uncertain. But the correction of financial imbalances can have serious macroeconomic costs even if it does not result in a full-blown financial crisis. For example, after the end of Germany's reunification boom, there were no outright bank failures. Even so, the financial system experienced severe strains, which sapped the economy's strength. Second, the effectiveness of monetary policy in constraining credit and asset price booms is hardly in doubt. It is hard to imagine how monetary policy could influence economic activity without affecting credit conditions and asset prices: these are key elements of the transmission mechanism. Finally, monetary policy can help to address regulatory arbitrage, as it sets the universal price of leverage in a given currency. Will macroprudential policy tend to lead to an amplification or a dampening of policy interest rate cycles? The answer is not straightforward. On the one hand, the troughs might become less extreme, as macroprudential policy should reduce the likelihood of financial crises and their disinflationary consequences. Likewise, interest rate peaks might also come down, to the extent that macroprudential policy succeeds in restraining credit and asset price booms. On the other hand, the need for monetary policy to contribute to financial stability by leaning against the build-up of financial imbalances points to a greater range of interest rate increases during expansions that are marked by such imbalances. All told, interest rates could move more symmetrically over the financial cycle. They would rise by more during upswings and fall by less during downswings. By implication, there would also be a reduced risk of hitting the zero lower bound and of having to resort to balance sheet policies.
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3. Conflicts between macroprudential and monetary policy are likely to be rare A concern sometimes raised is that macroprudential frameworks could lead to conflicts between monetary and macroprudential actions. My sense is that such concerns are overdone. It seems likely that, in most circumstances, macroprudential policy and monetary policy will be complementary, tending to move in the same rather than opposite directions. There are two reasons why these policies should complement each other: First, the financial cycles that matter for prudential policy have a much lower frequency than business cycles. Most business cycles do not involve financial imbalances or crises. In other words, financial crises happen much less frequently than recessions. Since the worldwide liberalisation of financial markets in the 1980s, financial crises have occurred only about once every 20–25 years in any given country. The literature also indicates that financial cycles associated with serious financial distress tend to be considerably longer than typical business cycles. This suggests that, most of the time, monetary policymakers can treat macroprudential policy developments as a relatively slow-moving background. It also means, of course, that the pursuit of price stability over horizons of just two years or so is no longer fully appropriate. Rather, monetary policymakers will also need to keep an eye on longer-term trends, if they are to take into account the gradual build-up and unwinding of financial imbalances and their economic and inflationary effects. This longer horizon dissipates some of the possible tensions between monetary policy and macroprudential decisions. Imagine a situation in which a leveraged asset price boom occurs when inflationary pressures are falling. The apparent tension between a desire to cut interest rates and to tighten macroprudential standards disappears once a longer-run perspective on price stability is taken. Since financial crises can generate huge disinflationary pressure, a tightening of monetary policy will promote longer-run price stability. As an aside, this point suggests that, if monetary policy is mobilised at times to prevent financial instability, no change in formal objectives or mandates will necessarily be required. More important is the analytical lens through which policymakers see the workings of the economy. Indeed, there may be circumstances in which the adoption of an explicit financial stability mandate could be counterproductive. This would be the case, for instance, if it resulted in stronger political economy pressures to keep interest rates low in order to avoid financial stress at times of rising inflation. Second, we may need to think in terms of a policy hierarchy. A good example is the potential set of responses to strong capital inflows. Capital inflows into emerging market economies can put strong upward pressure on domestic inflation, as well as on credit and asset price growth. In this situation, the top priority is to apply macroeconomic policies – including monetary, fiscal and exchange rate measures – to safeguard domestic financial stability. The appropriate role of macroprudential policy is to curb excessive risk-taking by the domestic financial system. Such restraint might well help to cool aggregate demand and, as such, should to be taken into account by monetary policy. But the use of macroprudential policy should not be used as an excuse to postpone or reduce the inevitable tightening of monetary policy. As for capital controls, these are measures of last resort and are better viewed as a safety valve for extraordinary circumstances. The longer such controls are left in place, the greater the chance of adverse economic side-effects. In this light, India’s higher limits on non-resident investment in rupee bonds represent a welcome development. Such investment can help to deepen capital markets. 4. Complementary policy areas still call for policy coordination Although conflicts between macroprudential and monetary policy are likely to be rare in practice, there will still be a need for mutual consistency and coordination. The close relationship between macroprudential and monetary policy makes that inevitable. More generally, financial stability is a shared responsibility that requires clear cooperation arrangements. Consistency and coordination could be achieved in a number of ways. At one end of the spectrum, a single institution could take responsibility for all coordination. It would, in fact, determine both policies at all times, with the aim of promoting both macroeconomic and financial stability. Concretely, a single committee or institution could be charged with deciding on the mix of instruments. A central bank would be an obvious candidate for this role. Short of this solution, various other possibilities can be envisaged. For example, policymakers in one area could have veto rights for the other policy; or macroprudential and monetary policy committees could have overlapping memberships. Alternatively, there could be requirements to consult; requirements to notify the other authority before taking decisions; requirements to provide information and advice to the other party; and “best efforts” coordination governed by memoranda of understanding or similar instruments. The key trade-offs are well known. On the one hand, they involve maximising the credibility and accountability benefits of a narrow policy focus. And, on the other hand, it is a matter of exploiting the technical efficiency benefits yielded by coordination. This could be done in various ways. For example, multiple objectives could be explicitly ranked. The timing of macroprudential policy reviews could differ from those of monetary policy, which themselves differ from the calendar of fiscal policy actions. Interestingly, some recently established financial stability committees plan to meet quite frequently – perhaps on a quarterly basis. On the one hand, regular review meetings help to keep financial stability in the public eye and could guard against biases towards inaction. On the other hand, this frequency seems quite high given that financial cycles build up so slowly; it might even risk creating the impression that macroprudential interventions will in practice be quite frequent. 5. We need proper governance arrangements: independence, clarity and accountability. Regardless of the specific type of cooperation mechanisms put in place, financial stability requires governance arrangements that incorporate the principles of independence, clarity and accountability. Independence from political cycles is needed for macroprudential policy no less than for monetary policy. A common problem for both policies is the need to intervene during the upswing, when things are going well and the public might be sceptical that problems loom down the road. Operational independence will be needed to shield unpopular policy decisions. Strong accountability and clarity of communication will bolster public support for the independence of macroprudential policy and hence its credibility and effectiveness. Clarity about mandates, responsibilities and powers is important for the effectiveness and timeliness of actions and for managing the difficult trade-offs. Sufficient powers imply control over relevant instruments and appropriate safeguards. For example, access to micro supervisory data is important. At the same time, our limited technical knowledge means that macroprudential frameworks need room to adapt and grow with experience. Very specific and inflexible mandates raise the risk that the specified targets are, or quickly become, poorly matched to the economy’s and financial system’s needs. As a result, the policymaker’s ability to respond to unexpected circumstances could be severely constrained. Accountability is critical. That said, since financial stability objectives are difficult to quantify or define precisely, accountability is harder to achieve than, say, for price stability objectives in monetary policy. A clear and transparently communicated strategy that sets out the central bank’s intentions can serve as the basis for accountability.
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Regardless of the specific governance and cooperation arrangements, the emerging reality is that central banks have a key role to play. This role requires mandates and governance structures that are consistent with their primary monetary policy function. In some cases, central banks’ duties and powers to promote financial stability are being enhanced. More active financial stability roles will raise issues of reputational risk that central banks will need to manage carefully, especially if their views on specific decisions are not shared by other agencies involved in the process. Central banks will also face additional challenges. They will face an added burden to be very clear about what policy actions are being taken and for what reason. They will need to be careful not to undermine price stability mandates and hard-won credibility. And they will need to preserve their operational autonomy, including financial independence. In turn, this requires control over their balance sheet and ex-ante clear mechanisms to transfer losses to the Treasury. A forthcoming Central Bank Governance Forum report describes the current range of practice across central banks and analyses the issues posed by various choices. Conclusion To conclude, these are early days in our experience with new macroprudential frameworks. The consequences of active macroprudential policy for the conduct of monetary policy will be material, but still need to be understood in light of experience. The Asian experience, your experience, will be extremely helpful in refining macroprudential frameworks and managing expectations as to what they can deliver.
Introductory remarks – Financial crises: the role of deposit insurance Introductory remarks by Mr Hervé Hannoun, Deputy General Manager of the BIS, at the IAIS 2011 Research Conference "Financial crises: the role of deposit insurance", Basel, 8 June 2011 http://www.bis.org/speeches/sp110609.htm The vital contribution of deposit insurance to financial stability was one of many lessons from the financial crisis. Even though there is a great variety of deposit insurance arrangements worldwide, all types provide depositors with clarity, reassurance and confidence. This means, first, that deposit insurance forms an integral part of the global financial stability framework. Second, that deposit insurers support a "back to basics" approach to banking supervision. In this respect, strong capital buffers focusing on common equity and a binding Pillar 1 leverage ratio are two central elements of Basel III. And, third, that deposit insurers are key actors in bank crisis management and in bank resolution. In this regard, a key lesson from the crisis is the need for further progress in the design of a cross-border bank resolution framework that can cope with the potential failure of systemically important financial institutions (SIFIs). However, in the current absence of a global resolution framework, it is critical to reduce the default probability of SIFIs by increasing their loss absorption capacity through systemic capital surcharges.
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