External business of Monetary Financial Institutions operating in the UK - 2024 Q2

This statistical release covers claims on and liabilities to other countries by UK-resident banks and building societies (monetary financial institutions).
Published on 06 September 2024
Following a review of the series relating to this publication, several data points between December 2022 and June 2024 have been suppressed due to concerns that they might be disclosive in nature. For the full list of series, please refer to the footnote.

Key points

  • Adjusted for exchange rate movements, external liabilities decreased by $9.6 billion during 2024 Q2. By region, the largest decrease in liabilities was to Developing Countries, where the largest fall by country was to Saudi Arabia (-$17.3 billion).
  • Adjusted for exchange rate movements, external claims decreased by $9.5 billion during 2024 Q2. By region, the largest decrease in claims was on Developed Countries, where the largest fall by country was on Japan (-$50.9 billion).

Table A: Regional breakdown of external claims and liabilities (US$ billions)

Exchange rate adjusted flows

Amounts outstanding

Q4

Q1

Q2

End-Jun 2024

2023

2024

Liabilities to:

Developed Countries

42.9

109.1

11.7

3,364.0

Offshore Centres

1.6

13.3

3.9

705.2

Developing Countries

8.7

35.7

-23.6

551.4

International Organisations & Other

-25.8

22.3

-1.5

1,013.2

Total

27.3

180.4

-9.6

5,633.7

Claims on:

Developed Countries

60.8

155.8

-41.9

4,263.7

Offshore Centres

-12.5

23.9

-13.9

506.7

Developing Countries

11.3

11.7

32.2

493.6

International Organisations & Other

-22.8

-0.2

14.1

161.6

Total

36.8

191.2

-9.5

5,425.5

Chart 1: Exchange rate adjusted flows of liabilities by counterpart sector and region 2024 Q2 (US$ billions)

Chart 2: Exchange rate adjusted flows of claims by counterpart sector and region 2024 Q2 (US$ billions)

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

Chart 3: Flows of liabilities by country for Developed Countries 2024 Q2 (5 largest increases/decreases) (US$ billions)

Chart 4: Flows of claims by country for Developed Countries 2024 Q2 (5 largest increases/decreases) (US$ billions)

Table B: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Developed Countries - 2024 Q2 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Canada

133.5

28.5

108.5

27.5

25.0

1.1

United States

1,533.3

28.3

662.6

8.4

870.7

19.9

Australia

74.0

7.6

44.9

9.0

29.1

-1.4

Ireland

200.5

4.2

50.6

0.2

149.9

4.0

Denmark

12.0

1.9

4.9

1.2

7.2

0.7

Largest decreases

Austria

3.3

-2.0

1.5

-0.6

1.8

-1.4

Germany

352.1

-2.9

325.3

0.6

26.9

-3.5

Japan

175.8

-9.1

113.7

-4.8

62.0

-4.3

France

251.5

-14.7

225.8

-17.3

25.7

2.6

Switzerland

213.8

-34.3

142.2

-34.8

71.6

0.5

Table C: Amounts outstanding and exchange rate adjusted flows of claims by country: Developed Countries - 2024 Q2 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United States

1,743.6

64.0

702.0

26.1

1,041.6

37.9

Luxembourg

168.5

13.1

14.0

-1.7

154.5

14.8

Canada

287.6

11.3

218.3

3.3

69.3

8.0

Italy

31.0

3.2

19.0

3.1

12.1

0.1

Belgium

37.7

2.5

26.0

1.2

11.7

1.3

Largest decreases

Netherlands

109.1

-7.6

56.1

-5.1

53.0

-2.5

Switzerland

199.3

-21.8

164.0

-20.8

35.4

-1.0

Germany

433.5

-22.8

384.3

-20.4

49.2

-2.4

France

464.4

-37.7

405.3

-34.1

59.1

-3.6

Japan

381.7

-50.9

218.9

-46.6

162.8

-4.3

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

Chart 5: Flows of liabilities by country for Offshore Centres 2024 Q2 (5 largest increases/decreases) (US$ billions)

Chart 6: Flows of claims by country for Offshore Centres 2024 Q2 (5 largest increases/decreases) (US$ billions)

Table D: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Offshore Centres - 2024 Q2 (US$ billions)

 

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Cayman Islands

132.6

10.2

9.6

8.1

123.0

2.1

Hong Kong

147.4

7.1

78.2

10.0

69.1

-3.0

Jersey

160.5

6.5

134.9

1.5

25.7

5.0

Guernsey

72.3

6.2

59.9

9.2

12.3

-3.0

Mauritius

4.2

1.0

3.0

1.1

1.2

-0.1

Largest decreases

Panama

1.1

-0.1

0.0

0.0

1.1

-0.1

Curacao

0.5

-0.4

0.0

0.0

0.5

-0.4

Bahamas

4.9

-0.8

2.5

-0.5

2.3

-0.3

Bahrain

6.0

-1.7

3.7

-0.6

2.3

-1.1

Singapore

93.1

-26.5

46.7

-25.4

46.4

-1.1

Table E: Amounts outstanding and exchange rate adjusted flows of claims by country: Offshore Centres - 2024 Q2 (US$ billions)

 

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Jersey

87.0

4.0

13.6

0.7

73.5

3.3

Guernsey

24.0

3.2

2.6

1.5

21.4

1.8

Bermuda

7.8

0.5

0.0

0.0

7.7

0.6

Isle of Man

5.9

0.3

1.3

0.2

4.6

0.2

Macao

1.0

0.3

0.9

0.2

0.0

0.0

Largest decreases

Mauritius

6.2

-0.9

1.6

0.3

4.6

-1.1

Singapore

84.7

-2.1

51.7

-2.6

33.0

0.5

Curacao

5.4

-2.1

4.8

-1.7

0.7

-0.5

Cayman Islands

151.1

-6.8

18.9

-18.3

132.2

11.5

Hong Kong

105.5

-9.6

47.3

1.0

58.2

-10.6

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

Chart 7: Flows of liabilities by country for Developing Countries 2024 Q2 (5 largest increases/decreases) (US$ billions)

Chart 8: Flows of claims by country for Developing Countries 2024 Q2 (5 largest increases/decreases) (US$ billions)

Table F: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Developing Countries - 2024 Q2 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Brazil

15.5

5.0

11.1

4.0

4.4

1.1

Turkey

12.9

3.1

8.4

3.2

4.5

-0.1

Poland

11.6

2.1

10.1

2.2

1.5

-0.1

Thailand

3.8

1.2

1.5

-0.2

2.3

1.4

Kuwait

32.5

1.0

14.7

-1.2

17.8

2.2

Largest decreases

Mexico

7.4

-2.4

3.2

-2.0

4.2

-0.4

United Arab Emirates

60.9

-2.9

32.8

-0.8

28.2

-2.1

India

39.2

-2.9

36.0

-2.7

3.2

-0.2

Qatar

44.0

-4.1

10.9

0.2

33.1

-4.4

Saudi Arabia

74.7

-17.3

50.7

-9.1

24.0

-8.1

Table G: Amounts outstanding and exchange rate adjusted flows of claims by country: Developing Countries - 2024 Q2 (US$ billions)

 

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Brazil

45.0

14.0

22.0

14.7

23.0

-0.6

Saudi Arabia

30.7

4.8

6.2

0.3

24.5

4.5

United Arab Emirates

79.0

4.7

46.4

5.2

32.6

-0.4

South Korea

27.3

4.5

12.1

4.7

15.3

-0.3

Israel

14.3

3.3

11.4

3.5

3.0

-0.2

Largest decreases

Azerbaijan

0.1

-0.5

0.0

-0.2

0.1

-0.3

India

31.5

-0.5

20.3

-0.3

11.2

-0.2

Czech Republic

2.2

-1.6

0.9

-1.7

1.3

0.1

Taiwan

10.5

-2.5

6.5

-2.6

3.9

0.1

South Africa

10.3

-3.5

6.4

-0.3

3.9

-3.2

Queries

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

Next release date: 6 December 2024

More information

Further data are available in Tables C3.1, C3.2, C3.3 and C3.4 of our latest Bankstats tables.

Footnote: The series concerned are December 2022 values for VPQBM94GI and VPQBM95GI, and values from December-2022 to Jun-2024 for VPQBM92SD, VPQBM93SD, VPQBM92YE, VPQBM93YE, VPQBM94LY, VPQBM95LY, VPQB253, VPQBL86, VPQB242, and VPQBM89

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