External business of Monetary Financial Institutions operating in the UK - 2025 Q3

This statistical release covers claims on and liabilities to other countries by UK-resident banks and building societies (monetary financial institutions).
Published on 05 December 2025

Key points

  • Adjusted for exchange rate movements, external liabilities increased by $204.1 billion during 2025 Q3. By region, the largest increase in liabilities was to Developed Countries ($159.1 billion), where the increase by country was almost entirely accounted for by United States ($158.0 billion).
  • Adjusted for exchange rate movements, external claims increased by $197.7 billion during 2025 Q3. By region, the largest increase in claims was on Developed Countries ($144.5 billion), where the largest increase by country was on the United States ($118.4 billion).

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

Exchange rate adjusted flows

Amounts outstanding

Q1

Q2

Q3

End-Sep 2025

2025

2025

2025

Liabilities to:

Developed Countries

-14.6

112.6

159.1

3,914.9

Offshore Centres

-7.6

34.5

19.3

758.1

Developing Countries

84.7

11.9

-8.6

613.7

International Organisations & Other

31.6

-7.5

34.4

1,128.7

Total

94.1

151.7

204.1

6,415.5

Claims on:

Developed Countries

124.1

66.8

144.5

4,956.2

Offshore Centres

-25.0

53.5

15.7

595.2

Developing Countries

13.4

15.1

21.3

556.1

International Organisations & Other

20.0

-0.2

16.2

259.4

Total

132.5

135.2

197.7

6,366.9

Chart 1: Exchange rate adjusted flows of liabilities by counterpart sector and region 2025 Q3 (US$ billion)

Chart 2: Exchange rate adjusted flows of claims by counterpart sector and region 2025 Q3 (US$ billion)

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

Chart 3: Flows of liabilities by country for Developed Countries 2025 Q3 (5 largest increases/decreases) (US$ billion)

Table B: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Developed Countries - 2025 Q3 (US$ billion)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United States

1,796.6

158.0

723.4

35.7

1,073.2

122.2

France

271.1

13.9

235.5

8.8

35.6

5.0

Norway

74.1

10.1

71.5

12.0

2.6

-1.9

Ireland

253.5

2.7

81.3

-1.9

172.2

4.5

Canada

152.1

2.0

131.8

8.0

20.3

-6.0

Largest decreases

Spain

60.0

-3.7

54.2

-3.8

5.8

0.1

Netherlands

135.5

-3.8

61.7

3.6

73.9

-7.4

Australia

72.2

-4.3

40.2

-5.6

32.0

1.3

Belgium

51.4

-6.1

40.8

-5.1

10.6

-1.1

Germany

460.6

-6.3

426.7

-7.5

33.9

1.3

Chart 4: Flows of claims by country for Developed Countries 2025 Q3 (5 largest increases/decreases) (US$ billion)

Table C: Amounts outstanding and exchange rate adjusted flows of claims by country: Developed Countries - 2025 Q3 (US$ billion)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United States

2,133.8

118.4

730.3

33.6

1,403.4

84.9

Japan

430.1

34.2

226.3

-3.1

203.8

37.3

Norway

86.0

14.5

78.7

14.7

7.3

-0.1

Ireland

191.9

14.0

59.7

10.0

132.2

3.9

Luxembourg

231.2

9.6

9.7

-2.7

221.5

12.3

Largest decreases

Italy

26.4

-3.9

14.7

-0.8

11.7

-3.1

Australia

76.0

-4.1

40.9

-2.0

35.1

-2.1

Germany

455.3

-6.4

393.9

-13.8

61.4

7.4

Netherlands

93.2

-12.5

59.7

-4.1

33.5

-8.4

France

492.3

-32.3

417.2

-32.7

75.1

0.5

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

Chart 5: Flows of liabilities by country for Offshore Centres 2025 Q3 (5 largest increases/decreases) (US$ billion)

Table D: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Offshore Centres - 2025 Q3 (US$ billion)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Jersey

230.5

9.7

185.8

2.1

44.7

7.5

Cayman Islands

138.0

8.9

10.2

-4.2

127.8

13.1

Hong Kong

151.8

3.9

86.5

2.3

65.3

1.6

Isle of Man

26.5

1.2

21.9

1.0

4.6

0.2

Macao

6.2

1.1

6.2

1.1

0.1

0.0

Largest decreases

Gibraltar

2.8

-0.2

0.9

-0.1

1.9

-0.1

Bahamas

3.5

-0.2

1.2

-0.3

2.3

0.0

West Indies UK

15.0

-0.5

0.2

0.0

14.8

-0.5

Panama

1.4

-1.1

0.2

0.0

1.1

-1.1

Guernsey

33.1

-4.2

18.8

-3.4

14.3

-0.8

Chart 6: Flows of claims by country for Offshore Centres 2025 Q3 (5 largest increases/decreases) (US$ billion)

Table E: Amounts outstanding and exchange rate adjusted flows of claims by country: Offshore Centres - 2025 Q3 (US$ billion)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Hong Kong

93.7

6.4

22.7

2.5

71.1

3.9

Cayman Islands

201.2

5.2

15.4

-2.3

185.9

7.5

Jersey

106.3

4.8

12.4

-3.2

93.9

8.0

Isle of Man

8.3

2.0

3.3

1.8

5.0

0.2

Bermuda

8.2

0.8

0.0

0.0

8.2

0.8

Largest decreases

Bahrain

10.6

-0.2

9.6

-0.1

1.0

-0.1

Guernsey

28.6

-0.6

1.3

0.2

27.3

-0.8

Mauritius

5.0

-0.7

1.5

0.0

3.5

-0.7

Curacao

13.0

-1.0

12.0

-1.0

1.1

0.0

Singapore

97.7

-1.5

54.4

-3.6

43.3

2.1

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

Chart 7: Flows of liabilities by country for Developing Countries 2025 Q3 (5 largest increases/decreases) (US$ billion)

Table F: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Developing Countries - 2025 Q3 (US$ billion)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Turkey

19.2

5.7

13.3

4.3

5.9

1.5

Mexico

20.8

5.6

16.9

6.3

3.9

-0.6

United Arab Emirates

84.7

5.5

39.6

-3.5

45.0

9.0

Poland

14.1

2.3

12.5

2.5

1.5

-0.2

South Africa

19.0

2.0

12.6

1.3

6.4

0.8

Largest decreases

Hungary

2.3

-1.9

0.1

0.0

2.2

-1.9

Brazil

6.9

-5.1

4.6

-5.0

2.3

-0.1

Kuwait

32.3

-7.9

12.4

-1.1

19.9

-6.8

Saudi Arabia

61.5

-9.6

42.5

-9.9

19.0

0.3

China

74.5

-13.0

64.9

-14.2

9.6

1.2

Chart 8: Flows of claims by country for Developing Countries 2025 Q3 (5 largest increases/decreases) (US$ billion)

Table G: Amounts outstanding and exchange rate adjusted flows of claims by country: Developing Countries - 2025 Q3 (US$ billion)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United Arab Emirates

114.2

13.3

50.6

-0.1

63.6

13.4

Nigeria

24.1

2.8

19.8

2.5

4.3

0.3

India

29.3

2.7

18.6

3.1

10.7

-0.4

South Africa

15.8

2.6

9.6

1.6

6.2

1.0

Turkey

30.2

2.0

19.0

0.3

11.2

1.7

Largest decreases

Thailand

1.4

-0.4

0.4

-0.3

1.0

-0.1

Poland

10.9

-0.8

7.8

-0.9

3.1

0.1

Israel

24.8

-0.8

16.1

-1.7

8.7

0.9

Saudi Arabia

33.7

-2.3

11.5

-0.7

22.2

-1.6

Taiwan

11.3

-6.0

5.1

-3.3

6.2

-2.7

Queries

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

Next release date: 6 March 2026

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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