External business of Monetary Financial Institutions operating in the UK - 2022 Q1

This statistical release covers all claims on and liabilities to other countries by UK-resident banks and building societies (monetary financial institutions).
Published on 07 June 2022

Key points

  • Adjusted for exchange rate movements, external liabilities increased by $164.4 billion during 2022 Q1. The largest increase in liabilities was to Developed Countries, with the largest increase to the United States.
  • Adjusted for exchange rate movements, external claims increased by $236.3 billion during 2022 Q1. The largest increase in claims was on Developed Countries, which was largely accounted for by Japan.

Table A: Regional breakdown of external claims and liabilities

US$ billions - Not seasonally adjusted

Exchange rate adjusted flows

Amounts outstanding

Q3

Q4

Q1

End-Q1 2022

Liabilities to:

2021

 

2022

 

 

Developed countries

- 16.8

74.8

133.5

3,423.6

Offshore centres

18.0

50.1

34.6

744.6

Developing countries

23.8

3.0

29.1

587.2

International Organisations & Other

- 9.6

37.0

- 32.8

994.3

Total

15.5

164.9

164.4

5,749.7

Claims on:

Developed countries

- 6.6

94.7

194.2

4,202.6

Offshore centres

21.2

- 2.5

21.4

584.1

Developing countries

- 0.5

35.3

- 7.4

451.4

International Organisations & Other

15.5

- 2.4

28.1

211.2

Total

29.6

125.1

236.3

5,449.3

Chart 1: Exchange rate adjusted flows of liabilities by counterpart sector and region 2022 Q1 (US$ billions)

Chart 2: Exchange rate adjusted flows of claims by counterpart sector and region 2022 Q1 (US$ billions)

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

Exchange rate adjusted flows vis-à-vis Developed Countries – 2022 Q1

(US$ billions) - Not seasonally adjusted

Chart 3: Flows of liabilities by country (5 largest increases/decreases)

Chart 4: Flows of claims by country (5 largest increases/decreases)

Table B: Amounts outstanding and exchange rate adjusted flows of liabilities by country – 2022 Q1

US$ billions – Not seasonally adjusted

 

 

Total

 

DTC

 

Non-DTC

 

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

Largest flow increases

United States

1,447.3

100.5

 

619.8

79.3

 

827.5

21.2

Japan

167.1

55.5

 

123.3

33.6

 

43.8

22.0

France

313.7

34.7

 

250.8

20.5

 

62.9

14.1

Germany

397.7

15.6

 

341.5

15.7

 

56.2

-0.1

Switzerland

205.1

3.1

 

135.4

-2.5

 

69.6

5.6

Largest flow decreases

Canada

111.7

-37.7

 

72.3

-28.0

 

39.4

-9.7

Luxembourg

96.9

-17.1

 

17.5

-11.9

 

79.4

-5.1

Ireland

211.9

-13.0

 

60.2

-10.2

 

151.7

-2.9

Netherlands

169.3

-4.3

 

69.8

-9.5

 

99.5

5.2

Sweden

16.2

-3.1

 

11.7

-2.2

 

4.5

-0.9

Table C: Amounts outstanding and exchange rate adjusted flows of claims by country – 2022 Q1

US$ billions – Not seasonally adjusted

 

 

Total

 

DTC

 

Non-DTC

 

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

Largest flow increases

Japan

368.8

72.6

 

225.0

17.3

 

143.8

55.2

Germany

537.9

54.5

 

500.8

57.9

 

37.0

-3.4

United States

1,503.0

27.6

 

579.9

23.1

 

923.1

4.5

France

515.6

23.9

 

448.9

24.1

 

66.8

-0.2

Canada

190.9

13.0

 

144.5

18.0

 

46.4

-5.0

Largest flow decreases

Italy

31.8

-8.4

 

20.4

-6.6

 

11.4

-1.8

Luxembourg

160.4

-3.7

 

31.6

-10.3

 

128.7

6.6

Sweden

37.9

-3.6

 

22.3

-2.5

 

15.6

-1.2

Norway

44.5

-1.8

 

37.6

-1.9

 

6.9

0.1

Netherlands

149.8

-1.1

 

66.7

-1.4

 

83.2

0.3

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

Exchange rate adjusted flows vis-à-vis Offshore Centres – 2022 Q1

(US$ billions) - Not seasonally adjusted

Chart 5: Flows of liabilities by country (5 largest increases/decreases)

Chart 6: Flows of claims by country (5 largest increases/decreases)


Table D: Amounts outstanding and exchange rate adjusted flows of liabilities by country – 2022 Q1

US$ billions – Not seasonally adjusted

 

 

Total

 

DTC

 

Non-DTC

 

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

Largest flow increases

Singapore

140.1

29.1

 

108.4

21.9

 

31.7

7.2

Jersey

130.1

4.2

 

102.6

4.9

 

27.6

-0.7

Cayman Islands

176.7

2.9

 

14.0

1.4

 

162.7

1.5

Bermuda

26.9

1.5

 

15.6

1.5

 

11.3

0.0

Barbados

11.1

1.2

 

10.2

1.2

 

0.9

-0.1

Largest flow decreases

West Indies UK

15.2

-2.1

 

0.2

0.0

 

15.0

-2.1

Hong Kong

136.3

-2.0

 

72.3

0.7

 

64.1

-2.7

Panama

1.2

-0.8

 

0.1

-0.1

 

1.1

-0.6

Curacao

2.3

-0.4

 

0.8

0.2

 

1.4

-0.6

Macao

0.3

-0.2

 

0.3

-0.2

 

0.1

0.0

Table E: Amounts outstanding and exchange rate adjusted flows of claims by country – 2022 Q1

US$ billions – Not seasonally adjusted

 

 

Total

 

DTC

 

Non-DTC

 

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

Largest flow increases

Singapore

117.0

17.7

 

78.6

12.4

 

38.4

5.3

Cayman Islands

213.0

3.1

 

98.4

10.2

 

114.7

-7.1

Curacao

3.5

2.4

 

3.3

2.8

 

0.2

-0.4

Guernsey

19.3

1.7

 

0.9

-0.4

 

18.3

2.1

Hong Kong

102.9

1.5

 

42.9

3.8

 

60.0

-2.3

Largest flow decreases

West Indies UK

19.6

-2.3

 

0.0

0.0

 

19.5

-2.3

Bermuda

9.9

-0.7

 

0.0

0.0

 

9.8

-0.8

Bahamas

4.5

-0.5

 

3.6

-0.5

 

0.9

-0.1

Isle of Man

5.9

-0.5

 

1.1

0.2

 

4.8

-0.7

Macao

2.2

-0.5

 

2.2

-0.5

 

0.0

0.0

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

Exchange rate adjusted flows vis-à-vis Developing Countries – 2022 Q1

(US$ billions) - Not seasonally adjusted

Chart 7: Flows of liabilities by country (5 largest increases/decreases)


Chart 8: Flows of claims by country (5 largest increases/decreases)


Table F: Amounts outstanding and exchange rate adjusted flows of liabilities by country – 2022 Q1

US$ billions – Not seasonally adjusted


 

 

Total

 

DTC

 

Non-DTC

 

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

Largest flow increases

Saudi Arabia

81.2

12.3

 

41.9

4.6

 

39.3

7.6

Taiwan

21.1

5.0

 

8.5

1.6

 

12.6

3.4

South Africa

20.8

4.8

 

13.5

2.5

 

7.3

2.3

China

126.7

4.6

 

119.4

3.9

 

7.3

0.7

United Arab Emirates

38.6

2.6

 

21.4

2.1

 

17.2

0.6

Largest flow decreases

Brazil

17.7

-6.1

 

13.8

-6.7

 

3.8

0.7

Qatar

31.0

-4.8

 

9.5

-3.2

 

21.6

-1.6

Russia

9.3

-4.0

 

6.6

-2.7

 

2.7

-1.3

Turkey

9.7

-1.5

 

6.6

-1.3

 

3.1

-0.2

Jordan

3.6

-0.6

 

2.6

-0.6

 

1.0

0.0

Table G: Amounts outstanding and exchange rate adjusted flows of claims by country – 2022 Q1

US$ billions – Not seasonally adjusted

 

 

Total

 

DTC

 

Non-DTC

 

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

 

Amounts outstanding

Flow

Largest flow increases

Czech Republic

8.4

5.0

 

7.5

5.3

 

1.0

-0.3

South Africa

13.7

2.9

 

4.6

0.2

 

9.1

2.7

Saudi Arabia

30.7

2.7

 

6.2

-0.2

 

24.5

2.9

Qatar

60.7

1.3

 

43.0

0.6

 

17.7

0.8

Ghana

5.9

1.1

 

3.3

0.8

 

2.6

0.3

Largest flow decreases

China

49.2

-8.1

 

38.6

-7.5

 

10.6

-0.6

Israel

14.3

-5.4

 

9.2

-4.1

 

5.1

-1.3

Brazil

26.4

-5.0

 

16.2

-6.1

 

10.2

1.0

Russia

9.0

-3.6

 

2.1

-3.7

 

6.9

0.1

Egypt

10.5

-3.1

 

4.7

0.5

 

5.7

-3.6

Queries

If you have any comments or queries about this release, please email dsd_ibs@bankofengland.co.ukNext release date: 2 September 2022

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