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 $164.8 billion during 2023 Q1, to a level of $4,261.4 billion.
- By sector, the largest increase in claims was on the other financial corporations sector, up by $80.6 billion to a level of $1,049.3 billion.
- By region, the largest increase in claims was on Developed Countries, up $128.9 billion to a level of $2,562.6 billion.
- Please note following Croatia’s adoption of the euro from 1 January 2023, it has been reclassified from European Developing Countries to European Developed Countries. This is consistent with the approach used for other acceding countries that have adopted the euro. This reclassification has been made retrospectively to both country groups for the 16 June 2023 publication.
Table A: Regional breakdown of external claims of UK-owned monetary financial institutions - End-Q1 2023
US$ 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 |
2,546.6 |
831.6 |
20.9 |
84.5 |
167.3 |
562.2 |
4,277.5 |
|
|
Net Risk Transfers |
16.0 |
-42.6 |
-0.6 |
-0.7 |
-10.8 |
21.2 |
-16.1 |
|
|
Ultimate Risk |
2,562.6 |
788.9 |
20.3 |
83.8 |
156.5 |
583.4 |
4,261.4 |
|
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 – Q1 2023
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) – Q1 2023
|
|
|
|
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
|
|
Total |
Cross-border |
Local |
DTC |
Public sector |
OFC |
NFC |
HH |
|
Largest increases |
United States |
101.5 |
47.0 |
54.5 |
9.8 |
49.7 |
58.0 |
-15.6 |
-0.3 |
|
Germany |
15.5 |
11.2 |
4.3 |
12.2 |
-0.5 |
0.9 |
3.0 |
-0.1 |
|
|
Spain |
15.0 |
14.9 |
0.1 |
11.4 |
1.8 |
0.8 |
1.0 |
0.0 |
|
|
Netherlands |
4.9 |
3.0 |
1.9 |
2.0 |
0.9 |
-0.7 |
1.7 |
1.0 |
|
|
Luxembourg |
3.6 |
1.7 |
1.9 |
-0.7 |
1.7 |
2.3 |
0.3 |
0.0 |
|
|
Largest decreases |
Japan |
-6.8 |
-21.9 |
15.1 |
-4.9 |
-4.9 |
12.6 |
-9.6 |
0.0 |
|
Canada |
-4.4 |
-1.1 |
-3.3 |
1.1 |
-1.7 |
-3.9 |
0.4 |
-0.3 |
|
|
Ireland |
-4.0 |
-0.2 |
-3.8 |
0.0 |
-3.0 |
-0.3 |
-0.7 |
-0.1 |
|
|
France |
-3.2 |
0.1 |
-3.3 |
0.0 |
-8.1 |
-0.1 |
5.1 |
-0.2 |
|
|
Italy |
-1.0 |
-0.7 |
-0.3 |
1.4 |
-2.4 |
0.1 |
0.0 |
-0.1 |
|
Table C: Amounts outstanding of external claims on an ultimate risk basis: Developed Countries (US$ billions) - End-Q1 2023
|
|
|
|
of which by origin: |
of which by sector: |
||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
Total |
Cross-border |
Local |
DTC |
Public sector |
OFC |
NFC |
HH |
|
|
Largest increases |
United States |
1,221.5 |
674.7 |
546.8 |
54.1 |
371.5 |
631.9 |
116.8 |
47.1 |
|
|
Germany |
226.4 |
98.8 |
127.5 |
72.7 |
132.8 |
6.3 |
9.2 |
5.3 |
||
|
Spain |
34.7 |
34.1 |
0.6 |
25.4 |
1.8 |
1.5 |
5.8 |
0.2 |
||
|
Netherlands |
50.7 |
28.4 |
22.3 |
15.1 |
5.2 |
8.6 |
12.4 |
9.4 |
||
|
Luxembourg |
54.9 |
37.1 |
17.7 |
5.8 |
12.7 |
24.5 |
10.5 |
1.3 |
||
|
Largest decreases |
Japan |
210.6 |
74.0 |
136.6 |
43.2 |
66.1 |
93.6 |
7.4 |
0.3 |
|
|
Canada |
134.5 |
57.0 |
77.5 |
27.0 |
33.7 |
16.3 |
30.4 |
27.2 |
||
|
Ireland |
45.4 |
32.6 |
12.8 |
1.3 |
1.8 |
20.6 |
12.7 |
8.9 |
||
|
France |
390.2 |
194.0 |
196.2 |
174.5 |
150.4 |
17.6 |
23.5 |
24.2 |
||
|
Italy |
13.1 |
7.6 |
5.5 |
4.0 |
-1.0 |
2.5 |
2.1 |
5.5 |
||
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 – Q1 2023
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) – Q1 2023
|
|
|
|
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
|
|
Total |
Cross-border |
Local |
DTC |
Public sector |
OFC |
NFC |
HH |
|
Largest increases |
Cayman Islands |
7.7 |
7.4 |
0.3 |
0.2 |
0.0 |
7.1 |
0.5 |
0.0 |
|
Singapore |
5.0 |
1.1 |
3.8 |
0.4 |
3.0 |
0.1 |
0.6 |
0.8 |
|
|
Hong Kong |
4.0 |
5.1 |
-1.1 |
2.9 |
-1.7 |
6.0 |
-2.9 |
-0.3 |
|
|
West Indies UK |
0.6 |
0.6 |
0.0 |
0.0 |
0.0 |
0.2 |
0.3 |
0.0 |
|
|
Guernsey |
0.3 |
0.4 |
-0.1 |
-0.1 |
0.0 |
0.1 |
0.1 |
0.1 |
|
|
Largest decreases |
Jersey |
-1.9 |
-1.9 |
-0.1 |
-0.1 |
0.2 |
-2.3 |
0.2 |
0.1 |
|
Bermuda |
-1.6 |
-1.5 |
-0.1 |
-0.1 |
0.1 |
-0.5 |
-1.0 |
-0.1 |
|
|
Mauritius |
-0.5 |
-0.6 |
0.0 |
-0.5 |
0.0 |
0.0 |
-0.1 |
0.0 |
|
|
Macao |
-0.4 |
-0.6 |
0.2 |
-0.6 |
0.1 |
0.0 |
0.1 |
0.0 |
|
|
Panama |
-0.2 |
-0.2 |
0.0 |
-0.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Table E: Amounts outstanding of external claims on an ultimate risk basis: Offshore Centres (US$ billions) - End-Q1 2023
|
|
|
|
of which by origin: |
of which by sector: |
||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
Total |
Cross-border |
Local |
DTC |
Public sector |
OFC |
NFC |
HH |
|
|
Largest increases |
Cayman Islands |
35.9 |
35.5 |
0.4 |
0.5 |
0.0 |
31.2 |
3.3 |
0.9 |
|
|
Singapore |
158.7 |
36.6 |
122.1 |
9.4 |
76.2 |
12.7 |
23.7 |
36.6 |
||
|
Hong Kong |
517.2 |
46.6 |
470.5 |
12.6 |
140.8 |
61.6 |
135.5 |
166.7 |
||
|
West Indies UK |
4.5 |
4.4 |
0.1 |
0.0 |
0.0 |
0.7 |
2.7 |
1.0 |
||
|
Guernsey |
12.4 |
8.5 |
3.9 |
0.2 |
0.0 |
6.4 |
3.2 |
2.6 |
||
|
Largest decreases |
Jersey |
28.4 |
23.4 |
5.0 |
1.4 |
0.5 |
14.9 |
6.5 |
5.1 |
|
|
Bermuda |
7.5 |
4.7 |
2.8 |
0.2 |
1.0 |
3.9 |
0.6 |
1.8 |
||
|
Mauritius |
4.8 |
3.5 |
1.3 |
1.1 |
0.4 |
0.4 |
2.8 |
0.2 |
||
|
Macao |
4.4 |
1.1 |
3.3 |
0.8 |
0.5 |
0.0 |
1.9 |
1.2 |
||
|
Panama |
1.3 |
1.3 |
0.0 |
0.4 |
0.1 |
0.0 |
0.6 |
0.2 |
||
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 – Q1 2023
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) – Q1 2023
|
|
|
|
of which by origin: |
of which by sector: |
||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
Total |
Cross-border |
Local |
DTC |
Public sector |
OFC |
NFC |
HH |
|
|
Largest increases |
China |
6.7 |
6.1 |
0.6 |
-2.5 |
7.9 |
-0.9 |
2.6 |
-0.4 |
|
|
Taiwan |
3.4 |
2.1 |
1.3 |
1.2 |
0.4 |
1.5 |
0.2 |
0.1 |
||
|
Israel |
3.4 |
3.1 |
0.3 |
0.1 |
3.1 |
0.0 |
0.2 |
0.0 |
||
|
Mexico |
3.2 |
0.9 |
2.2 |
-0.7 |
1.8 |
-0.3 |
1.0 |
1.4 |
||
|
India |
2.0 |
-2.1 |
4.1 |
1.1 |
2.2 |
-0.6 |
-1.0 |
0.3 |
||
|
Largest decreases |
Saudi Arabia |
-2.3 |
-2.4 |
0.2 |
0.6 |
-2.2 |
-1.0 |
0.3 |
0.1 |
|
|
Czech Republic |
-2.1 |
-1.1 |
-1.0 |
0.0 |
-2.1 |
0.1 |
0.0 |
0.0 |
||
|
South Korea |
-1.8 |
0.3 |
-2.1 |
1.3 |
-0.3 |
0.4 |
-0.9 |
-2.3 |
||
|
Pakistan |
-0.8 |
-0.1 |
-0.7 |
-0.1 |
-0.4 |
0.0 |
-0.2 |
-0.1 |
||
|
South Africa |
-0.8 |
0.0 |
-0.7 |
-1.3 |
0.3 |
0.3 |
-0.1 |
0.0 |
||
Table G: Amounts outstanding of external claims on an ultimate risk basis: Developing Countries (US$ billions) - End-Q1 2023
|
|
|
|
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
|
|
Total |
Cross-border |
Local |
DTC |
Public sector |
OFC |
NFC |
HH |
|
Largest increases |
China |
245.0 |
116.5 |
128.5 |
46.3 |
73.0 |
27.0 |
80.3 |
18.4 |
|
Taiwan |
54.7 |
18.5 |
36.2 |
10.4 |
15.4 |
4.8 |
9.6 |
14.5 |
|
|
Israel |
9.1 |
7.5 |
1.6 |
1.4 |
6.8 |
0.1 |
0.6 |
0.2 |
|
|
Mexico |
39.1 |
3.0 |
36.1 |
1.0 |
12.5 |
1.5 |
11.6 |
12.5 |
|
|
India |
82.1 |
12.5 |
69.5 |
7.9 |
31.4 |
9.2 |
26.0 |
7.6 |
|
|
Largest decreases |
Saudi Arabia |
18.5 |
18.0 |
0.5 |
5.4 |
2.2 |
6.0 |
3.7 |
1.2 |
|
Czech Republic |
4.9 |
3.3 |
1.6 |
0.1 |
4.3 |
0.1 |
0.4 |
0.0 |
|
|
South Korea |
99.7 |
27.4 |
72.3 |
16.7 |
30.9 |
7.2 |
18.3 |
26.6 |
|
|
Pakistan |
2.6 |
0.1 |
2.5 |
0.1 |
1.5 |
0.0 |
0.9 |
0.2 |
|
|
South Africa |
9.1 |
3.7 |
5.4 |
3.9 |
2.1 |
0.8 |
2.1 |
0.3 |
|
Queries
If you have any comments or queries about this data release, please email dsd_ibs@bankofengland.co.uk
Next release date: 15 September 2023
