Consolidated Worldwide External Claims of UK-owned Banks: End-September 2009

UK-owned banks and building societies and their branches and subsidiaries worldwide reported an increase in consolidated foreign claims on an ultimate risk basis of US$9.4bn during 3Q2009, to stand at US$3.7 trillion. The largest increase was in claims on developing countries, up US$35.7bn to stand at US$622.3bn. This was largely driven by an increase in claims on Brazil, China, Republic of Korea and India. Claims on offshore centres also rose, up by US$12.8bn to stand at US$472.5bn. Claims on developed countries fell, down by US$39.8bn to US$2.6 trillion, driven by a decrease in claims on the US.

Developed countries had net inward risk transfers of US$69.9bn, with the largest to Japan, Germany and France. Offshore centres had net outward risk transfers of US$33.6bn, mostly from Hong Kong, the Cayman Islands and Jersey. Developing countries had net outward risk transfers of US$5.1bn, with the largest net outward risk transfers reported on Chile, Russia and Indonesia.

Total foreign claims on an ultimate risk basis on developed countries fell by US$39.8bn to US$2.6 trillion during 3Q2009. The decrease was more than accounted for by a fall in claims reported on the US. Claims on the bank and non-bank private sector both decreased, whereas claims on the public sector rose. The largest increase in claims was reported on Japan.

Total foreign claims reported against offshore centres increased by US$12.8bn to stand at US$472.5bn. The increase was driven by a rise in claims on Hong Kong, Jersey and Singapore. The increase was largely driven by a rise in local claims on the non-bank private sector. The largest fall was reported on the Netherlands Antilles.

Total foreign claims on developing countries rose by US$35.7bn over the quarter, driven by a rise in claims on Brazil, China, Republic of Korea and India. The rise was evenly split between local and cross-border claims mainly on the non-bank private sector. The largest fall in claims was reported against Mexico.

Data covering the worldwide consolidated claims of banks in other centres, as well as in the UK, are available from the Bank for International Settlements (BIS) on their website.

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