Key points
- UK-owned monetary financial institutions and their branches and subsidiaries worldwide reported a decrease in consolidated external claims on an ultimate risk basis of $224.6 billion during 2024 Q4, to a level of $4,558.6 billion.
- The decrease in claims was relatively well spread across sectors, with the largest decreases in claims on the Public sector, down by $66.4 billion to a level of $1,440.9 billion, and the Deposit-taking corporations sector, down $62.3 billion to a level of $623.7 billion.
- By region, the largest decrease in claims was on Developed Countries, down $134.6 billion to a level of $2,776.2 billion. For Developed Countries, the largest decreases by country were on the United States (-$66.0 billion), Germany (-$29.9 billion) and Japan (-$18.6 billion).
Table A: Regional breakdown of external claims of UK-owned monetary financial institutions - Q4 2024 (US$ billions)
|
External claims on: |
|||||||
|---|---|---|---|---|---|---|---|
|
|
Developed Countries |
Offshore Centres |
Developing Countries: |
Total |
|||
|
Europe |
Latin America & Caribbean |
Africa & Middle East |
Asia & Pacific |
||||
|
Immediate borrower |
2,758.5 |
874.0 |
28.5 |
80.2 |
188.7 |
560.6 |
4,574.5 |
|
Net risk transfers |
17.7 |
-48.8 |
-0.2 |
-0.5 |
-8.7 |
23.3 |
-15.9 |
|
Ultimate risk basis |
2,776.2 |
825.2 |
28.2 |
79.7 |
179.9 |
583.8 |
4,558.6 |
Consolidated external claims: Developed Countries
Table B: Changes in external claims on an ultimate risk basis: Developed Countries (US$ billions) - Q4 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
Spain |
3.9 |
4.0 |
-0.1 |
6.7 |
-2.6 |
0.1 |
-0.3 |
0.0 |
|
Switzerland |
2.8 |
1.0 |
1.9 |
-0.4 |
5.0 |
0.1 |
-1.7 |
-0.1 |
|
|
Canada |
1.4 |
0.5 |
0.9 |
0.3 |
0.4 |
0.2 |
0.5 |
-0.1 |
|
|
Norway |
1.1 |
1.1 |
0.0 |
0.9 |
0.2 |
0.1 |
0.0 |
0.0 |
|
|
Slovakia |
0.1 |
0.1 |
0.0 |
0.1 |
0.1 |
0.0 |
0.0 |
0.0 |
|
|
Largest decreases |
Netherlands |
-5.9 |
-0.5 |
-5.4 |
-2.3 |
-4.1 |
0.5 |
0.1 |
-0.1 |
|
Italy |
-6.4 |
-6.1 |
-0.3 |
-4.2 |
-2.3 |
-1.7 |
2.0 |
-0.1 |
|
|
Japan |
-18.6 |
-10.9 |
-7.7 |
-10.2 |
-3.5 |
-6.4 |
1.6 |
0.0 |
|
|
Germany |
-29.9 |
-12.6 |
-17.3 |
-0.6 |
-20.8 |
-6.6 |
-1.8 |
-0.1 |
|
|
United States |
-66.0 |
-28.2 |
-37.7 |
-6.1 |
-17.1 |
-11.3 |
-26.4 |
-5.1 |
|
Table C: Amounts outstanding of external claims on an ultimate risk basis: Developed Countries (US$ billions) - Q4 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
Spain |
37.9 |
37.7 |
0.3 |
25.2 |
4.1 |
1.2 |
7.1 |
0.2 |
|
Switzerland |
43.5 |
33.6 |
9.9 |
6.5 |
16.3 |
4.1 |
10.7 |
5.9 |
|
|
Canada |
66.0 |
63.9 |
2.1 |
26.8 |
23.8 |
12.2 |
2.7 |
0.5 |
|
|
Norway |
6.3 |
6.2 |
0.0 |
2.3 |
2.0 |
0.8 |
1.0 |
0.0 |
|
|
Slovakia |
0.7 |
0.7 |
0.0 |
0.1 |
0.5 |
0.0 |
0.0 |
0.0 |
|
|
Largest decreases |
Netherlands |
61.9 |
34.4 |
27.5 |
13.6 |
8.8 |
12.4 |
13.8 |
13.3 |
|
Italy |
22.1 |
21.3 |
0.7 |
8.6 |
4.7 |
4.1 |
4.1 |
0.7 |
|
|
Japan |
219.9 |
94.9 |
125.0 |
28.7 |
63.3 |
93.9 |
33.4 |
0.6 |
|
|
Germany |
180.2 |
96.7 |
83.6 |
61.1 |
96.8 |
5.6 |
15.1 |
1.6 |
|
|
United States |
1,504.8 |
913.5 |
591.3 |
49.4 |
428.6 |
819.5 |
156.5 |
50.9 |
|
Consolidated external claims: Offshore Centres
Table D: Changes in external claims on an ultimate risk basis: Offshore Centres (US$ billions) - Q4 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
Cayman Islands |
4.0 |
4.4 |
-0.4 |
0.1 |
0.0 |
4.8 |
-0.8 |
-0.1 |
|
Jersey |
1.5 |
1.8 |
-0.3 |
-0.4 |
0.0 |
2.0 |
0.2 |
-0.3 |
|
|
Panama |
0.1 |
0.1 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
|
No other increases greater than $0.1bn |
|||||||||
|
Largest decreases |
Bermuda |
-0.3 |
-0.3 |
-0.1 |
0.0 |
0.0 |
0.2 |
-0.5 |
0.0 |
|
Macao |
-1.0 |
-0.8 |
-0.1 |
-0.7 |
0.0 |
-0.1 |
-0.2 |
0.0 |
|
|
West Indies UK |
-1.3 |
-1.3 |
0.0 |
0.0 |
0.0 |
-0.3 |
-0.9 |
0.0 |
|
|
Singapore |
-8.6 |
-5.8 |
-2.9 |
-4.7 |
0.1 |
-2.2 |
0.4 |
-2.2 |
|
|
Hong Kong |
-17.1 |
-4.0 |
-13.1 |
1.5 |
-11.2 |
-2.6 |
-3.2 |
-1.5 |
|
Table E: Amounts outstanding of external claims on an ultimate risk basis: Offshore Centres (US$ billions) - Q4 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
Cayman Islands |
62.5 |
62.4 |
0.1 |
1.0 |
0.0 |
57.7 |
3.2 |
0.6 |
|
Jersey |
45.0 |
40.6 |
4.4 |
1.0 |
0.3 |
32.0 |
7.1 |
4.7 |
|
|
Panama |
1.4 |
1.4 |
0.0 |
0.5 |
0.1 |
0.0 |
0.7 |
0.0 |
|
|
No other increases greater than $0.1bn |
|||||||||
|
Largest decreases |
Bermuda |
7.2 |
4.8 |
2.4 |
0.1 |
0.7 |
3.5 |
1.4 |
1.5 |
|
Macao |
2.9 |
0.5 |
2.5 |
0.2 |
0.6 |
0.0 |
1.0 |
1.2 |
|
|
West Indies UK |
3.8 |
3.7 |
0.1 |
0.0 |
0.0 |
1.3 |
2.3 |
0.2 |
|
|
Singapore |
181.0 |
55.4 |
125.6 |
11.2 |
81.5 |
27.7 |
25.2 |
35.4 |
|
|
Hong Kong |
489.7 |
45.8 |
443.8 |
8.3 |
136.2 |
67.0 |
110.6 |
167.7 |
|
Consolidated external claims: Developing Countries
Table F: Changes in external claims on an ultimate risk basis: Developing Countries (US$ billions) - Q4 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
United Arab Emirates |
3.5 |
3.5 |
0.0 |
-1.2 |
0.3 |
4.4 |
-0.1 |
0.1 |
|
Saudi Arabia |
1.8 |
1.8 |
0.1 |
0.2 |
0.2 |
1.6 |
-0.3 |
0.0 |
|
|
Qatar |
1.2 |
1.1 |
0.1 |
0.4 |
0.4 |
0.0 |
0.3 |
0.2 |
|
|
Poland |
1.0 |
1.2 |
-0.2 |
0.2 |
1.0 |
0.0 |
-0.1 |
0.0 |
|
|
Czech Republic |
0.8 |
-0.5 |
1.3 |
-0.1 |
1.0 |
0.0 |
-0.1 |
0.0 |
|
|
Largest decreases |
Malaysia |
-5.9 |
-1.9 |
-4.0 |
-2.6 |
-1.9 |
0.0 |
-0.8 |
-0.7 |
|
South Korea |
-7.0 |
-1.8 |
-5.2 |
-1.2 |
-3.0 |
-1.4 |
-0.6 |
-0.8 |
|
|
Taiwan |
-7.5 |
-3.3 |
-4.3 |
-3.6 |
-2.3 |
-0.6 |
-0.9 |
-0.2 |
|
|
India |
-9.2 |
-2.5 |
-6.7 |
0.7 |
-5.8 |
-2.0 |
-1.7 |
-0.4 |
|
|
China |
-26.9 |
-21.4 |
-5.4 |
-11.0 |
-12.9 |
1.4 |
-3.6 |
-0.7 |
|
Table G: Amounts outstanding of external claims on an ultimate risk basis: Developing Countries (US$ billions) - Q4 2024
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
United Arab Emirates |
76.9 |
36.5 |
40.4 |
13.2 |
16.9 |
19.9 |
18.5 |
8.5 |
|
Saudi Arabia |
28.9 |
27.4 |
1.5 |
8.6 |
5.1 |
10.4 |
3.2 |
1.5 |
|
|
Qatar |
24.3 |
18.9 |
5.4 |
12.2 |
5.1 |
1.7 |
4.1 |
1.2 |
|
|
Poland |
7.7 |
6.8 |
0.9 |
0.5 |
5.9 |
0.1 |
1.0 |
0.2 |
|
|
Czech Republic |
3.3 |
0.8 |
2.5 |
0.0 |
3.0 |
0.1 |
0.2 |
0.0 |
|
|
Largest decreases |
Malaysia |
38.1 |
6.6 |
31.5 |
7.5 |
12.1 |
1.0 |
8.1 |
9.3 |
|
South Korea |
85.8 |
33.7 |
52.1 |
12.5 |
29.8 |
7.1 |
17.5 |
19.0 |
|
|
Taiwan |
50.3 |
17.9 |
32.4 |
7.3 |
9.0 |
6.1 |
12.4 |
15.6 |
|
|
India |
94.5 |
13.6 |
80.9 |
10.0 |
36.0 |
10.6 |
29.8 |
8.1 |
|
|
China |
252.1 |
121.8 |
130.3 |
61.8 |
71.2 |
33.7 |
70.6 |
14.9 |
|
Queries
If you have any comments or queries about this data release, please email dsd_ibs@bankofengland.co.uk
Next release date: 20 June 2025
