Key points
- UK-owned monetary financial institutions and their branches and subsidiaries worldwide reported an increase in consolidated external claims on an ultimate risk basis of $42.1 billion during 2024 Q1, to a level of $4,543.7 billion.
- By sector, the largest increase in claims was on the other financial corporations sector, up by $66.0 billion to a level of $1,240.7 billion.
- By region, the largest increase in claims was on Offshore Centres, up $17.2 billion to a level of $815.7 billion.
Table A: Regional breakdown of external claims of UK-owned monetary financial institutions - End-Q1 2024 (US$ billions)
|
External claims on: |
|||||||
|---|---|---|---|---|---|---|---|
|
|
Developed Countries |
Offshore Centres |
Developing Countries: |
Total |
|||
|
Europe |
Latin America & Caribbean |
Africa & Middle East |
Asia & Pacific |
||||
|
Immediate borrower |
2,779.9 |
857.9 |
24.9 |
82.0 |
174.1 |
575.5 |
4,569.5 |
|
Net risk transfers |
2.1 |
-42.2 |
-0.7 |
0.2 |
-11.7 |
24.9 |
-25.8 |
|
Ultimate risk basis |
2,782.0 |
815.7 |
24.2 |
82.2 |
162.3 |
600.4 |
4,543.7 |
Consolidated external claims: Developed Countries
Table B: Changes in external claims on an ultimate risk basis: Developed Countries (US$ billions) - Q1 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
United States |
98.3 |
23.8 |
74.5 |
9.5 |
18.5 |
60.9 |
10.5 |
-1.1 |
|
Belgium |
3.4 |
3.1 |
0.3 |
3.2 |
0.5 |
-0.2 |
-0.1 |
0.0 |
|
|
Italy |
2.7 |
3.1 |
-0.4 |
3.6 |
-1.4 |
1.6 |
-0.8 |
-0.3 |
|
|
Luxembourg |
2.5 |
-0.1 |
2.5 |
0.3 |
2.4 |
0.3 |
-0.4 |
0.1 |
|
|
Portugal |
1.0 |
1.1 |
0.0 |
0.1 |
0.9 |
0.0 |
0.0 |
0.0 |
|
|
Largest decreases |
Ireland |
-2.7 |
-2.2 |
-0.5 |
-0.1 |
-0.4 |
0.2 |
-2.2 |
-0.1 |
|
Norway |
-3.1 |
-3.1 |
0.0 |
-2.5 |
-0.9 |
0.0 |
0.3 |
0.0 |
|
|
France1 |
-9.9 |
7.6 |
-17.4 |
4.1 |
-3.7 |
2.0 |
-0.6 |
-11.7 |
|
|
Japan |
-14.8 |
0.1 |
-14.9 |
2.5 |
-9.8 |
-16.6 |
9.0 |
0.0 |
|
|
Canada2 |
-69.9 |
9.3 |
-79.2 |
8.3 |
-17.3 |
-5.1 |
-28.4 |
-27.4 |
|
|
1Due to business restructuring at one reporting institution total foreign claims on France have been affected by approximately -$23bn. |
|||||||||
|
2Due to business restructuring at one reporting institution total foreign claims on Canada have been affected by approximately -$78bn. |
|||||||||
Table C: Amounts outstanding of external claims on an ultimate risk basis: Developed Countries (US$ billions) End - Q1 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
United States |
1,444.0 |
810.7 |
633.3 |
52.7 |
415.2 |
750.3 |
174.6 |
51.2 |
|
Belgium |
12.2 |
11.2 |
1.1 |
5.7 |
2.6 |
0.9 |
2.9 |
0.1 |
|
|
Italy |
28.3 |
23.6 |
4.7 |
12.1 |
4.9 |
4.6 |
2.2 |
4.6 |
|
|
Luxembourg |
58.7 |
39.0 |
19.7 |
5.4 |
14.4 |
29.5 |
8.3 |
1.1 |
|
|
Portugal |
2.5 |
2.5 |
0.0 |
1.6 |
0.5 |
0.0 |
0.3 |
0.2 |
|
|
Largest decreases |
Ireland |
41.2 |
36.8 |
4.4 |
1.8 |
1.0 |
23.6 |
12.4 |
2.4 |
|
Norway |
6.7 |
6.7 |
0.0 |
2.8 |
1.6 |
1.2 |
1.1 |
0.0 |
|
|
France1 |
379.5 |
210.0 |
169.5 |
170.3 |
149.1 |
21.1 |
29.3 |
9.8 |
|
|
Japan |
234.0 |
104.7 |
129.3 |
40.8 |
71.3 |
88.7 |
32.8 |
0.4 |
|
|
Canada2 |
75.7 |
74.9 |
0.8 |
39.4 |
22.7 |
12.1 |
1.1 |
0.5 |
|
|
1Due to business restructuring at one reporting institution total foreign claims on France have been affected by approximately -$23bn. |
|||||||||
|
2Due to business restructuring at one reporting institution total foreign claims on Canada have been affected by approximately -$78bn. |
|||||||||
Consolidated external claims: Offshore Centres
Table D: Changes in external claims on an ultimate risk basis: Offshore Centres (US$ billions) - Q1 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
Singapore |
16.4 |
7.7 |
8.7 |
1.7 |
9.4 |
5.2 |
0.5 |
-0.5 |
|
Cayman Islands |
2.5 |
2.3 |
0.2 |
-0.1 |
0.0 |
1.3 |
1.2 |
0.0 |
|
|
West Indies UK |
0.7 |
0.7 |
0.0 |
0.0 |
0.0 |
0.2 |
0.4 |
0.0 |
|
|
Hong Kong |
0.5 |
8.6 |
-8.2 |
-1.4 |
-2.6 |
9.1 |
-2.5 |
-2.2 |
|
|
Jersey |
0.4 |
0.3 |
0.1 |
-0.1 |
0.0 |
0.4 |
0.2 |
-0.1 |
|
|
Largest decreases |
Isle of Man |
-0.2 |
-0.2 |
-0.1 |
0.0 |
0.0 |
0.0 |
-0.2 |
0.0 |
|
Macao |
-0.4 |
-0.3 |
-0.2 |
-0.3 |
0.0 |
0.0 |
-0.1 |
0.0 |
|
|
Mauritius |
-0.5 |
-0.3 |
-0.1 |
-0.5 |
0.0 |
0.1 |
0.0 |
-0.1 |
|
|
Bermuda |
-1.2 |
-0.8 |
-0.4 |
-0.1 |
-0.4 |
-0.8 |
0.3 |
-0.1 |
|
|
Bahrain |
-1.2 |
-1.6 |
0.3 |
-1.5 |
0.0 |
0.0 |
0.3 |
0.0 |
|
Table E: Amounts outstanding of external claims on an ultimate risk basis: Offshore Centres (US$ billions) End - Q1 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
Singapore |
178.3 |
47.3 |
131.0 |
13.3 |
84.7 |
19.1 |
24.2 |
36.9 |
|
Cayman Islands |
58.1 |
57.7 |
0.4 |
0.5 |
0.0 |
52.5 |
4.7 |
0.4 |
|
|
West Indies UK |
4.7 |
4.6 |
0.1 |
0.0 |
0.0 |
1.2 |
3.4 |
0.2 |
|
|
Hong Kong |
495.4 |
48.3 |
447.0 |
9.2 |
135.1 |
67.3 |
116.5 |
167.3 |
|
|
Jersey |
36.0 |
31.1 |
4.9 |
1.1 |
0.3 |
24.1 |
6.2 |
4.4 |
|
|
Largest decreases |
Isle of Man |
4.0 |
2.6 |
1.4 |
0.0 |
0.3 |
0.2 |
1.5 |
2.0 |
|
Macao |
3.8 |
0.7 |
3.1 |
0.4 |
0.6 |
0.0 |
1.6 |
1.2 |
|
|
Mauritius |
4.3 |
3.2 |
1.1 |
0.8 |
0.4 |
1.3 |
1.7 |
0.1 |
|
|
Bermuda |
8.1 |
5.6 |
2.5 |
0.0 |
0.7 |
3.9 |
2.0 |
1.5 |
|
|
Bahrain |
7.6 |
3.6 |
4.0 |
2.5 |
2.0 |
0.2 |
1.8 |
1.1 |
|
Consolidated external claims: Developing Countries
Table F: Changes in external claims on an ultimate risk basis: Developing Countries (US$ billions) - Q1 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
United Arab Emirates |
11.0 |
7.9 |
3.1 |
3.6 |
1.4 |
5.5 |
1.0 |
-0.3 |
|
India |
5.9 |
-0.1 |
6.0 |
-0.8 |
2.5 |
1.5 |
2.1 |
0.6 |
|
|
Mexico |
3.7 |
0.3 |
3.4 |
0.1 |
2.3 |
0.5 |
0.4 |
0.4 |
|
|
Israel |
1.5 |
1.2 |
0.3 |
0.5 |
1.0 |
0.0 |
0.0 |
0.0 |
|
|
Philippines |
0.8 |
0.6 |
0.2 |
0.8 |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
Largest decreases |
China |
-1.1 |
2.1 |
-3.2 |
5.3 |
-4.9 |
1.3 |
-2.2 |
-0.6 |
|
Poland |
-1.3 |
-1.5 |
0.2 |
0.0 |
-1.4 |
0.0 |
0.0 |
0.1 |
|
|
South Korea |
-2.0 |
1.4 |
-3.4 |
-1.7 |
2.3 |
-0.1 |
0.3 |
-2.9 |
|
|
Qatar |
-3.2 |
-3.3 |
0.1 |
-0.9 |
-0.9 |
-1.8 |
0.3 |
0.0 |
|
|
Saudi Arabia |
-3.9 |
-4.0 |
0.2 |
-1.2 |
-0.4 |
-2.3 |
0.0 |
0.0 |
|
Table G: Amounts outstanding of external claims on an ultimate risk basis: Developing Countries (US$ billions) End - Q1 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
United Arab Emirates |
66.0 |
27.9 |
38.2 |
14.6 |
14.8 |
9.7 |
18.7 |
8.2 |
|
India |
96.4 |
15.5 |
80.9 |
8.8 |
39.5 |
10.5 |
29.1 |
8.5 |
|
|
Mexico |
47.2 |
3.2 |
44.0 |
1.1 |
15.6 |
2.2 |
12.8 |
15.5 |
|
|
Israel |
8.0 |
6.4 |
1.6 |
3.6 |
3.2 |
0.2 |
0.7 |
0.2 |
|
|
Philippines |
8.7 |
5.0 |
3.7 |
4.2 |
2.3 |
0.1 |
1.4 |
0.6 |
|
|
Largest decreases |
China |
263.0 |
135.1 |
127.9 |
67.8 |
79.4 |
26.3 |
73.3 |
16.3 |
|
Poland |
6.6 |
5.7 |
1.0 |
0.3 |
4.8 |
0.2 |
1.1 |
0.2 |
|
|
South Korea |
86.2 |
29.0 |
57.1 |
11.8 |
27.7 |
6.5 |
19.0 |
21.2 |
|
|
Qatar |
24.0 |
18.7 |
5.3 |
12.2 |
4.3 |
2.8 |
3.9 |
0.8 |
|
|
Saudi Arabia |
24.6 |
23.5 |
1.1 |
7.5 |
4.1 |
7.5 |
4.3 |
1.3 |
|
Queries
If you have any comments or queries about this data release, please email dsd_ibs@bankofengland.gsi.gov.uk
Next release date: 20 September 2024
