External business of Monetary Financial Institutions operating in the UK - 2023 Q2

This statistical release covers all claims on and liabilities to other countries by UK-resident banks and building societies (monetary financial institutions).
Published on 01 September 2023

Key points

  • Adjusted for exchange rate movements, external liabilities decreased by $55.6 billion during 2023 Q2. By region, the largest decrease in liabilities was to Developed Countries, where the largest country decreases were to the United States ($49.9 billion) and Switzerland ($27.0 billion).
  • Adjusted for exchange rate movements, external claims decreased by $86.8 billion during 2023 Q2. By region, the largest decrease in claims was on Developed Countries, where the largest country decreases were on the United States ($25.6 billion), France ($20.2 billion), and Germany ($19.9 billion).

Table A: Regional breakdown of external claims and liabilities

US$ billions - Not seasonally adjusted

Exchange rate adjusted flows

Amounts outstanding

Q4

Q1

Q2

End-Q2 2023

Liabilities to:

2022

2023

 

 

Developed Countries

- 79.8

11.4

- 54.2

3,179.7

Offshore Centres

- 73.8

- 9.3

9.1

700.7

Developing Countries

- 38.4

16.2

- 6.4

551.9

International Organisations & Other

- 23.6

0.0

- 4.1

1,004.5

Total

- 215.7

18.4

- 55.6

5,436.8

Claims on:

Developed Countries

- 221.3

62.6

- 54.3

4,026.0

Offshore Centres

- 8.3

34.3

- 12.6

571.6

Developing Countries

- 13.8

- 8.5

- 1.5

445.8

International Organisations & Other

- 40.4

- 10.4

- 18.5

158.3

Total

- 283.7

78.1

- 86.8

5,201.7

Chart 1: Exchange rate adjusted flows of liabilities by counterpart sector and region 2023 Q2 (US$ billions)

Chart 2: Exchange rate adjusted flows of claims by counterpart sector and region 2023 Q2 (US$ billions)

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

Exchange rate adjusted flows vis-à-vis Developed Countries – 2023 Q2

(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 – 2023 Q2 (US$ billions)

 

 

Total

DTC

Non-DTC

 

 

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest flow increases

Canada

118.7

18.3

89.7

20.0

29.0

-1.6

Japan

169.7

7.5

126.7

10.3

43.0

-2.7

Germany

332.4

6.3

299.8

9.7

32.6

-3.4

Spain

42.9

2.4

35.2

2.1

7.7

0.4

Denmark

10.5

1.8

2.2

0.4

8.4

1.5

Largest flow decreases

United States

1,356.0

-49.9

587.7

-21.8

768.3

-28.0

Switzerland

249.1

-27.0

174.0

-22.2

75.1

-4.8

Netherlands

147.3

-8.6

59.9

-3.5

87.3

-5.1

Australia

61.4

-4.1

35.1

-4.2

26.3

0.0

Ireland

199.0

-1.9

52.3

0.7

146.7

-2.6

Table C: Amounts outstanding and exchange rate adjusted flows of claims by country – 2023 Q2 (US$ billions)

 

 

Total

DTC

Non-DTC

 

 

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest flow increases

Canada

244.8

19.1

195.5

19.8

49.3

-0.7

Switzerland

223.3

12.0

188.0

12.1

35.3

-0.2

Ireland

173.6

8.0

54.9

2.9

118.7

5.0

Belgium

37.2

7.9

26.9

7.2

10.3

0.8

Spain

47.9

5.9

32.9

5.7

15.1

0.2

Largest flow decreases

United States

1,453.8

-25.6

575.5

-20.1

878.3

-5.5

France

488.7

-20.2

443.6

-16.8

45.1

-3.5

Germany

495.6

-19.9

454.0

-18.9

41.6

-0.9

Netherlands

122.2

-13.3

65.4

-1.4

56.8

-11.9

Luxembourg

141.5

-8.6

10.7

-6.4

130.9

-2.1

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

Exchange rate adjusted flows vis-à-vis Offshore Centres – 2023 Q2

(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 – 2023 Q2 (US$ billions)

 

 

Total

DTC

Non-DTC

 

 

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest flow increases

Guernsey

51.0

13.9

41.4

10.8

9.5

3.1

Singapore

137.2

2.1

92.0

-1.7

45.2

3.8

Jersey

138.9

2.1

119.7

2.5

19.2

-0.4

Bermuda

24.0

1.8

15.5

0.6

8.5

1.2

Bahrain

7.4

1.1

4.1

0.5

3.2

0.6

Largest flow decreases

Cayman Islands

120.9

-8.6

1.6

-3.8

119.4

-4.9

Hong Kong

150.9

-2.8

87.5

5.6

63.4

-8.4

Bahamas

8.4

-1.5

5.8

-0.6

2.6

-0.9

Lebanon

1.8

-1.2

0.9

-1.2

0.9

0.0

Macao

0.7

-0.2

0.6

-0.2

0.1

0.0

Table E: Amounts outstanding and exchange rate adjusted flows of claims by country – 2023 Q2 (US$ billions)

 

 

Total

DTC

Non-DTC

 

 

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest flow increases

Jersey

74.9

3.3

11.6

1.3

63.3

2.0

Bahrain

8.1

1.3

6.8

1.6

1.3

-0.3

Mauritius

4.9

0.8

2.1

0.1

2.8

0.7

Hong Kong

116.1

0.6

52.2

1.7

64.0

-1.1

Macao

2.1

0.2

2.1

0.1

0.0

0.0

Largest flow decreases

Cayman Islands

184.3

-7.4

87.0

-7.3

97.3

-0.2

Singapore

115.1

-5.1

83.6

-4.1

31.5

-1.0

Curacao

6.0

-3.2

5.9

-3.2

0.1

-0.1

Guernsey

22.4

-1.4

1.6

-0.7

20.8

-0.7

Bahamas

4.1

-0.9

3.3

-0.9

0.8

-0.1

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

Exchange rate adjusted flows vis-à-vis Developing Countries – 2023 Q2

(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 – 2023 Q2 (US$ billions)

 

 

Total

DTC

Non-DTC

 

 

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest flow increases

Saudi Arabia

99.6

20.2

57.9

20.4

41.7

-0.3

Qatar

47.3

4.6

11.4

0.8

36.0

3.8

Czech Republic

5.6

3.7

4.8

3.7

0.9

0.0

Indonesia

3.6

1.3

3.3

1.1

0.3

0.1

Kenya

2.6

1.1

2.0

1.0

0.6

0.1

Largest flow decreases

China

60.6

-8.9

52.6

-10.1

8.1

1.2

India

26.5

-7.0

23.5

-6.7

3.1

-0.3

Israel

10.4

-4.1

5.0

-4.3

5.3

0.1

Nigeria

15.6

-2.8

10.1

-1.8

5.5

-1.0

South Africa

17.6

-2.6

12.8

-0.1

4.8

-2.5

Table G: Amounts outstanding and exchange rate adjusted flows of claims by country – 2023 Q2 (US$ billions)

 

 

Total

DTC

Non-DTC

 

 

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest flow increases

Saudi Arabia

26.3

3.5

5.3

0.2

21.1

3.3

United Arab Emirates

58.8

2.8

39.6

1.9

19.2

0.8

Mexico

9.7

2.5

3.9

2.1

5.8

0.4

Brazil

39.1

2.0

20.1

-0.7

19.0

2.7

Qatar

56.9

2.0

39.0

1.6

17.8

0.4

Largest flow decreases

China

49.8

-6.3

38.1

-6.1

11.7

-0.2

India

22.4

-5.4

11.7

-3.9

10.8

-1.5

South Africa

10.5

-3.6

6.2

0.5

4.3

-4.0

Egypt

8.4

-1.2

2.9

-1.1

5.5

-0.1

Nigeria

18.1

-1.0

15.2

-0.5

2.9

-0.5

Queries

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

Next release date: 1 December 2023

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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