Developments in international banking and capital markets in 1991

Quarterly Bulletin 1992 Q2
Published on 01 June 1992

This article assesses developments in international banking activity, as shown by BIS statistics, and in the bond, euronote and syndicated credit sectors of the international capital markets, and relates these to wider economic and financial developments.

  • Overall, international financing activity fell sharply in 1991.
  • Borrowing in the international bond markets grew rapidly, but there was a net repayment of international bank lending-concentrated in the interbank market- as banks continued to assess credit risks cautiously in the light of new capital adequacy requirements.
  • On the demand side, the world economic slowdown and companies' caution about increasing their indebtedness also contributed to the relatively modest level of international financing flows overall.
  • A resumption of issuance in the international bond markets by some Latin American countries has been a feature of the past couple of years.

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