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 $43.8 billion during 2021 Q4, to a level of $4,192.9 billion.
- By sector, the largest increase was on the non-financial corporations sector, up by $30.9 billion to a level of $788.3 billion.
- By region, the largest increase in claims was on Developing Countries, up $43.0 billion to a level of $865.6 billion.
Table A: Regional breakdown of external claims of UK-owned monetary financial institutions - End-Q4 2021
US$ billions
Not seasonally adjusted
External claims on: | ||||||||
|---|---|---|---|---|---|---|---|---|
Developed Countries | Offshore Centres | Developing countries: | Total | |||||
Europe | Latin America & Caribbean | Africa & Middle East | Asia & Pacific | |||||
Immediate Borrower | 2,463.6 | 813.0 | 22.6 | 72.5 | 169.3 | 591.8 | 4,195.7 | |
Net Risk Transfers | 24.2 | -37.1 | -0.2 | -1.1 | -8.6 | 19.3 | -2.8 | |
Ultimate Risk | 2,487.8 | 775.9 | 22.4 | 71.4 | 160.7 | 611.0 | 4,192.9 | |
Chart 1: Changes in external claims on an ultimate risk basis by region and origin of claim
Chart 2: External claims on an ultimate risk basis analysed by country share
Consolidated external claims: Developed Countries
Changes in consolidated external claims on an ultimate risk basis on Developed Countries, by counterpart sector and by debtor country - Q4 2021
US$ billions
Not seasonally adjusted
Chart 3: Changes in consolidated claims by counterpart sector
Chart 4: Changes in consolidated claims by country (5 largest increases/decreases)
Table B: Changes in external claims on an ultimate risk basis: Developed Countries (US$ billions) - Q4 2021
of which by origin: | of which by sector: | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
| Total | Cross-border | Local | DTC | Public sector | OFC | NFC | HH |
Largest increases | Switzerland | 19.1 | 5.2 | 14.0 | -0.7 | 15.8 | 0.8 | 3.0 | 0.3 |
Germany | 8.3 | 8.5 | -0.2 | 1.7 | 6.9 | 0.3 | -0.6 | 0.0 | |
United States | 7.4 | 41.9 | -34.5 | -8.7 | -11.3 | 7.3 | 19.3 | 0.7 | |
Canada | 6.0 | 5.7 | 0.3 | 4.4 | -0.4 | 0.9 | 0.9 | 0.2 | |
Australia | 4.4 | 3.2 | 1.2 | -0.1 | 0.5 | 1.7 | 1.6 | 0.7 | |
Largest decreases | France | -20.6 | -27.8 | 7.2 | -20.9 | 7.1 | -2.5 | -3.7 | -0.6 |
Netherlands | -6.6 | -6.2 | -0.4 | -2.7 | 0.0 | -4.0 | -0.1 | 0.1 | |
Luxembourg | -6.0 | -1.8 | -4.2 | -0.2 | -4.2 | -0.6 | -0.9 | -0.1 | |
Ireland | -5.1 | -0.6 | -4.5 | -0.6 | -2.8 | -2.0 | 1.0 | -0.8 | |
Japan | -4.8 | 11.9 | -16.7 | 5.5 | -20.1 | 1.7 | 8.1 | 0.0 | |
Table C: Amounts outstanding of external claims on an ultimate risk basis: Developed Countries (US$ billions) - End-Q4 2021
of which by origin: | of which by sector: | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
| Total | Cross-border | Local | DTC | Public sector | OFC | NFC | HH |
Largest increases | Switzerland | 79.1 | 27.9 | 51.2 | 7.0 | 54.5 | 3.3 | 9.0 | 5.3 |
Germany | 203.9 | 90.4 | 113.5 | 48.3 | 122.2 | 12.9 | 15.3 | 5.1 | |
United States | 1157.2 | 660.6 | 496.6 | 49.7 | 331.6 | 579.9 | 154.9 | 41.2 | |
Canada | 142.7 | 57.7 | 85.0 | 22.1 | 39.6 | 24.1 | 28.7 | 28.3 | |
Australia | 75.8 | 32.6 | 43.2 | 15.1 | 16.3 | 9.6 | 14.5 | 20.4 | |
Largest decreases | France | 338.7 | 164.3 | 174.5 | 127.6 | 128.0 | 29.4 | 28.1 | 25.5 |
Netherlands | 59.1 | 38.8 | 20.3 | 14.4 | 7.1 | 17.1 | 14.7 | 5.9 | |
Luxembourg | 40.2 | 25.5 | 14.7 | 2.8 | 10.8 | 16.7 | 8.2 | 1.7 | |
Ireland | 71.5 | 36.5 | 34.9 | 1.7 | 12.3 | 23.4 | 16.3 | 17.8 | |
Japan | 218.0 | 91.0 | 126.9 | 66.0 | 68.5 | 66.6 | 16.4 | 0.4 | |
Consolidated external claims: Offshore Centres
Changes in consolidated external claims on an ultimate risk basis on Offshore Centres, by counterpart sector and by debtor country - Q4 2021
US$ billions
Not seasonally adjusted
Chart 5: Changes in consolidated claims by counterpart sector
Chart 6: Changes in consolidated claims by country (5 largest increases/decreases)
Table D: Changes in external claims on an ultimate risk basis: Offshore Centres (US$ billions) - Q4 2021
of which by origin: | of which by sector: | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
| Total | Cross-border | Local | DTC | Public sector | OFC | NFC | HH |
Largest increases | Cayman Islands | 18.1 | 18.4 | -0.3 | 0.0 | 0.0 | 19.7 | -1.0 | -0.6 |
Singapore | 3.4 | 1.0 | 2.4 | 0.2 | -0.3 | 1.3 | 1.0 | 1.3 | |
Bermuda | 0.4 | 0.5 | -0.1 | 0.0 | 0.0 | 0.3 | 0.1 | 0.0 | |
West Indies UK | 0.3 | 0.4 | -0.1 | 0.0 | 0.0 | 0.2 | -0.1 | 0.3 | |
Panama | 0.2 | 0.2 | 0.0 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | |
Largest decreases | Hong Kong | -16.8 | -1.1 | -15.6 | -0.3 | -12.8 | -2.5 | -1.5 | 0.3 |
Jersey | -0.8 | -0.6 | -0.2 | 0.4 | 0.0 | -0.1 | -1.2 | 0.0 | |
Curacao | -0.3 | -0.3 | 0.0 | 0.0 | 0.0 | -0.3 | 0.0 | 0.0 | |
Macao | -0.2 | -0.1 | -0.1 | -0.1 | 0.1 | 0.0 | -0.2 | 0.0 | |
Bahamas | -0.2 | -0.2 | 0.0 | 0.0 | 0.0 | 0.0 | -0.1 | -0.1 | |
Table E: Amounts outstanding of external claims on an ultimate risk basis: Offshore Centres (US$ billions) - End-Q4 2021
of which by origin: | of which by sector: | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
| Total | Cross-border | Local | DTC | Public sector | OFC | NFC | HH |
Largest increases | Cayman Islands | 53.1 | 53.0 | 0.1 | 0.3 | 0.0 | 47.7 | 3.6 | 1.5 |
Singapore | 150.9 | 38.9 | 112.0 | 7.3 | 67.5 | 12.5 | 28.8 | 34.8 | |
Bermuda | 8.1 | 6.1 | 2.0 | 0.2 | 0.2 | 3.9 | 1.8 | 2.0 | |
West Indies UK | 5.9 | 5.9 | 0.0 | 0.0 | 0.0 | 0.7 | 3.6 | 1.6 | |
Panama | 1.4 | 1.4 | 0.0 | 0.2 | 0.3 | 0.0 | 0.7 | 0.2 | |
Largest decreases | Hong Kong | 493.0 | 36.0 | 457.0 | 10.0 | 127.0 | 38.9 | 153.3 | 163.9 |
Jersey | 28.1 | 22.1 | 6.0 | 1.9 | 0.3 | 13.9 | 6.3 | 5.6 | |
Curacao | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.0 | |
Macao | 4.6 | 1.2 | 3.4 | 0.7 | 0.5 | 0.0 | 2.1 | 1.4 | |
Bahamas | 0.4 | 0.4 | 0.0 | 0.0 | 0.0 | 0.0 | 0.2 | 0.1 | |
Consolidated external claims: Developing Countries
Changes in consolidated external claims on an ultimate risk basis on Developing Countries, by counterpart sector and by debtor country - Q4 2021
US$ billions
Not seasonally adjusted
Chart 7: Changes in consolidated claims by counterpart sector
Chart 8: Changes in consolidated claims by country (5 largest increases/decreases)
Table F: Changes in external claims on an ultimate risk basis: Developing Countries (US$ billions) - Q4 2021
of which by origin: | of which by sector: | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
| Total | Cross-border | Local | DTC | Public sector | OFC | NFC | HH |
Largest increases | Brazil | 14.7 | 14.4 | 0.3 | 0.3 | 13.8 | 0.3 | 0.3 | 0.0 |
Israel | 7.3 | 7.0 | 0.3 | 1.0 | 6.0 | 0.2 | 0.0 | 0.0 | |
India | 6.8 | 5.3 | 1.5 | 1.2 | 2.2 | 2.0 | 1.2 | 0.2 | |
South Korea | 4.0 | 1.5 | 2.5 | 5.3 | -0.7 | -0.3 | -0.4 | 0.1 | |
Czech Republic | 4.0 | 1.6 | 2.4 | -0.2 | 3.6 | 0.2 | 0.4 | 0.0 | |
Largest decreases | Turkey | -1.5 | -1.0 | -0.5 | -0.4 | -0.8 | 0.0 | -0.2 | -0.1 |
Russia | -1.5 | -1.5 | 0.0 | 0.3 | -1.6 | 0.0 | -0.1 | 0.0 | |
Vietnam | -1.0 | -0.8 | -0.1 | -0.9 | -0.1 | -0.1 | 0.0 | 0.1 | |
Egypt | -0.7 | -1.0 | 0.3 | 0.2 | -0.7 | 0.0 | -0.2 | 0.0 | |
Mexico | -0.6 | -0.1 | -0.5 | 1.0 | -0.2 | -1.9 | -0.2 | 0.6 | |
Table G: Amounts outstanding of external claims on an ultimate risk basis: Developing Countries (US$ billions) - End-Q4 2021
of which by origin: | of which by sector: | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
| Total | Cross-border | Local | DTC | Public sector | OFC | NFC | HH |
Largest increases | Brazil | 30.0 | 28.5 | 1.6 | 3.9 | 23.5 | 0.8 | 1.8 | 0.1 |
Israel | 11.4 | 9.3 | 2.2 | 1.5 | 8.7 | 0.3 | 0.5 | 0.3 | |
India | 82.7 | 19.9 | 62.7 | 9.1 | 30.1 | 9.0 | 27.6 | 6.9 | |
South Korea | 102.0 | 26.4 | 75.6 | 18.5 | 26.2 | 4.9 | 19.0 | 33.4 | |
Czech Republic | 5.7 | 2.1 | 3.6 | -0.1 | 4.8 | 0.2 | 0.7 | 0.0 | |
Largest decreases | Turkey | 10.9 | 7.2 | 3.7 | 5.4 | 1.3 | 0.2 | 3.6 | 0.4 |
Russia | 1.6 | 1.3 | 0.3 | 0.8 | 0.2 | 0.0 | 0.5 | 0.2 | |
Vietnam | 8.6 | 3.2 | 5.4 | 0.9 | 1.4 | 0.1 | 4.8 | 1.3 | |
Egypt | 11.8 | 4.6 | 7.2 | 0.8 | 8.0 | 0.2 | 2.2 | 0.6 | |
Mexico | 31.8 | 2.6 | 29.2 | 2.5 | 8.3 | 1.3 | 10.9 | 8.9 | |
Queries
If you have any comments or queries about this release, please contact dsd_ibs@bankofengland.co.uk.
Next release date: 17 June 2022
