External business of Monetary Financial Institutions operating in the UK - 2024 Q3

This statistical release covers claims on and liabilities to other countries by UK-resident banks and building societies (monetary financial institutions).
Published on 06 December 2024

Key points

  • Adjusted for exchange rate movements, external liabilities increased by $94.6 billion during 2024 Q3. By region, the largest increase in liabilities was to Developed Countries, where the largest increases by country were to the United States ($61.2 billion), Germany ($42.5 billion), and Switzerland ($26.8 billion).
  • Adjusted for exchange rate movements, external claims increased by $113.3 billion during 2024 Q3. By region, the largest increase in claims was on Developed Countries, where the largest increases by country were on Japan ($38.1 billion), the United States ($27.9 billion), and France ($22.6 billion).

Table A: Regional breakdown of external claims and liabilities (US$ billions)

Exchange rate adjusted flows

Amounts outstanding

Q1

Q2

Q3

End-Sep 2024

2024

Liabilities to:

Developed Countries

109.1

11.1

140.0

3,590.3

Offshore Centres

13.3

3.9

-8.9

691.7

Developing Countries

35.7

-23.1

7.5

565.3

International Organisations & Other

22.5

-1.7

-44.0

1,029.1

Total

180.5

-9.8

94.6

5,876.3

Claims on:

Developed Countries

155.8

-41.9

60.7

4,448.2

Offshore Centres

23.9

-13.9

30.3

528.0

Developing Countries

11.7

32.2

23.7

523.3

International Organisations & Other

-0.2

14.1

-1.3

179.2

Total

191.2

-9.5

113.3

5,678.8

Chart 1: Exchange rate adjusted flows of liabilities by counterpart sector and region 2024 Q3 (US$ billions)

Chart 2: Exchange rate adjusted flows of claims by counterpart sector and region 2024 Q3 (US$ billions)

Exchange rate adjusted flows of external liabilities and claims: Developed Countries

Chart 3: Flows of liabilities by country for Developed Countries 2024 Q3 (5 largest increases/decreases) (US$ billions)

Chart 4: Flows of claims by country for Developed Countries 2024 Q3 (5 largest increases/decreases) (US$ billions)

Table B: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Developed Countries - 2024 Q3 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United States

1,614.3

61.2

682.1

15.5

932.2

45.6

Germany

408.2

42.5

379.1

41.4

29.1

1.1

Switzerland

246.0

26.9

145.1

-1.1

100.9

28.0

Japan

201.9

10.9

114.4

-7.2

87.4

18.1

Ireland

214.9

6.7

58.5

5.7

156.3

1.0

Largest decreases

France

259.3

-1.6

233.4

-0.9

25.9

-0.7

Belgium

50.9

-1.7

42.4

-0.7

8.5

-1.0

Denmark

10.0

-2.2

3.0

-1.9

7.0

-0.2

Italy

25.9

-2.8

14.8

0.5

11.0

-3.3

Canada

122.3

-12.9

96.9

-13.0

25.4

0.1

Table C: Amounts outstanding and exchange rate adjusted flows of claims by country: Developed Countries - 2024 Q3 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Japan

455.9

38.1

232.4

-1.8

223.4

39.9

United States

1,790.8

27.9

617.9

-86.6

1,172.9

114.4

France

504.9

22.6

445.2

23.9

59.7

-1.3

Australia

81.8

7.3

51.5

5.2

30.3

2.1

Switzerland

211.3

5.5

171.0

1.8

40.3

3.7

Largest decreases

Italy

29.4

-3.1

18.4

-1.6

11.0

-1.5

Norway

57.2

-4.7

51.1

-4.6

6.2

-0.1

Canada

283.7

-8.0

208.8

-11.8

74.9

3.8

Belgium

29.3

-9.5

17.6

-9.2

11.7

-0.3

Germany

431.9

-17.8

376.6

-22.1

55.3

4.3

Exchange rate adjusted flows of external liabilities and claims: Offshore Centres

Chart 5: Flows of liabilities by country for Offshore Centres 2024 Q3 (5 largest increases/decreases) (US$ billions)

Chart 6: Flows of claims by country for Offshore Centres 2024 Q3 (5 largest increases/decreases) (US$ billions)

Table D: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Offshore Centres - 2024 Q3 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

West Indies UK

15.5

1.4

0.2

0.0

15.4

1.4

Bermuda

26.5

1.4

15.3

0.2

11.2

1.2

Bahrain

6.7

0.7

4.3

0.6

2.4

0.1

Macao

1.7

0.3

1.6

0.3

0.1

0.0

Curacao

0.8

0.3

0.3

0.3

0.5

0.0

Largest decreases

Jersey

164.9

-0.4

136.2

-2.2

28.7

1.9

Hong Kong

128.8

-1.0

58.5

-0.7

70.2

-0.2

Cayman Islands

134.2

-2.0

13.5

3.9

120.7

-5.9

Singapore

90.8

-3.6

44.9

-2.5

45.9

-1.0

Guernsey

67.8

-6.1

55.9

-5.5

11.9

-0.6

Table E: Amounts outstanding and exchange rate adjusted flows of claims by country: Offshore Centres - 2024 Q3 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Hong Kong

93.1

7.4

24.8

-1.4

68.3

8.8

Jersey

97.9

7.3

14.5

0.4

83.4

6.9

Singapore

92.6

6.6

55.7

3.2

36.9

3.4

Cayman Islands

159.9

4.7

8.5

-10.5

151.4

15.1

Macao

3.2

2.2

3.1

2.2

0.1

0.0

Largest decreases

No other decreases greater than $0.1bn

Isle of Man

6.0

-0.2

1.3

-0.1

4.7

-0.1

Bermuda

7.6

-0.3

0.0

0.0

7.5

-0.3

Guernsey

22.8

-1.8

1.2

-1.4

21.6

-0.4

Exchange rate adjusted flows of external liabilities and claims: Developing Countries

Chart 7: Flows of liabilities by country for Developing Countries 2024 Q3 (5 largest increases/decreases) (US$ billions)

Chart 8: Flows of claims by country for Developing Countries 2024 Q3 (5 largest increases/decreases) (US$ billions)

Table F: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Developing Countries - 2024 Q3 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United Arab Emirates

66.9

5.4

32.5

-0.4

34.4

5.8

China

69.7

4.2

61.3

3.6

8.4

0.6

Mexico

10.6

3.1

6.2

2.9

4.4

0.1

South Africa

19.4

2.9

12.3

1.3

7.1

1.6

Israel

15.9

2.6

10.2

2.4

5.6

0.2

Largest decreases

Kenya

2.0

-0.9

1.7

-0.8

0.4

-0.1

Azerbaijan

1.4

-0.9

0.2

0.1

1.3

-1.0

Poland

10.7

-1.2

9.6

-0.8

1.1

-0.4

Saudi Arabia

69.2

-5.9

47.9

-3.1

21.3

-2.8

Qatar

34.4

-9.9

8.9

-2.2

25.5

-7.7

Table G: Amounts outstanding and exchange rate adjusted flows of claims by country: Developing Countries - 2024 Q3 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

India

37.7

5.8

24.3

3.6

13.4

2.2

Israel

19.8

5.4

14.9

3.5

4.9

1.9

South Africa

15.3

5.0

6.9

0.5

8.4

4.5

United Arab Emirates

84.1

4.1

42.8

-3.9

41.3

8.0

Brazil

49.3

3.8

24.2

2.0

25.1

1.9

Largest decreases

Hungary

3.1

-0.7

0.8

-0.2

2.3

-0.5

Poland

5.8

-0.9

3.7

-0.7

2.1

-0.2

China

50.4

-1.9

36.4

-4.6

14.1

2.7

South Korea

25.6

-1.9

13.1

1.0

12.5

-2.9

Qatar

57.4

-2.7

42.2

-0.8

15.2

-1.9

Queries

If you have any comments or queries about this data release, please email dsd_ibs@bankofengland.co.uk.

Next release date: 7 March 2025

More information

Further data are available in Tables C3.1, C3.2, C3.3 and C3.4 of our latest Bankstats tables.

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