Banks’ cross-border claims increased in Q2 2022 by $782 billion, raising the year-on-year growth rate to 8%.1 Derivatives valuations drove this increase, while new credit through loans and bond holdings rose a modest $100 billion. Credit to emerging market and developing economies expanded by $28 billion, despite the drops in credit to Brazil, China and Russia. Cross-border credit to Russia continued to fall, by more than $4 billion, while liabilities to Russia saw the largest increase on record (+$74 billion) as a result of blocked coupon and principal repayments following western sanctions. Credit denominated in euros and yen expanded, while credit in US dollars fell for the first time in a year (–$332 billion), partly due to seasonal factors. Against the backdrop of rising interest rates, dollar borrowing by non-banks outside the United States via syndicated loans and bonds contracted in both Q2 and Q3, foreshadowing weaker growth in credit overall.


This information was gathered from the Bank for International Settlements

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The Bank for International Settlements (BIS) is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through its meetings, programmes and through the Basel Process – hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City.  Last updated from Wikipedia 2023-01-22T02:52:48Z.
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