Key points
- UK-owned monetary financial institutions, including their branches and subsidiaries worldwide, reported an increase in consolidated external claims on an ultimate risk basis of $170.4 billion during 2025 Q3, to a level of $5,131.5 billion.
- By sector, the largest increases in claims were on the Public sector and Other Financial Corporations sector, up by $69.9 billion and $65.2 billion to $1,658.6 billion and $1,566.9 billion, respectively.
- By region, the largest increase in claims was on Developed Countries, up by $153.8bn to a level of $3,224.2 billion, where the largest increase by country was on the United States ($147.3 billion).
Table A: Regional breakdown of external claims of UK-owned monetary financial institutions - 2025 Q3 (US$ billion)
|
External claims on: |
|||||||
|---|---|---|---|---|---|---|---|
|
|
Developed Countries |
Offshore Centres |
Developing Countries: |
Total |
|||
|
Europe |
Latin America & Caribbean |
Africa & Middle East |
Asia & Pacific |
||||
|
Immediate borrower |
3,213.7 |
919.7 |
36.2 |
84.0 |
223.4 |
569.7 |
5,154.8 |
|
Net risk transfers |
10.5 |
-55.5 |
-2.2 |
-0.7 |
-7.6 |
30.0 |
-23.3 |
|
Ultimate risk basis |
3,224.2 |
864.1 |
34.0 |
83.3 |
215.9 |
599.7 |
5,131.5 |
Consolidated external claims: Developed Countries
Chart 3: Changes in consolidated external claims on an ultimate risk basis by counterpart sector for Developed Countries - 2025 Q3
Chart 4: Changes in consolidated external claims on an ultimate risk basis by country for Developed Countries - 2025 Q3 (5 largest increases/decreases)
Table B: Changes in external claims on an ultimate risk basis: Developed Countries (US$ billion) - 2025 Q3
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
United States |
147.3 |
76.7 |
70.6 |
2.2 |
91.5 |
53.7 |
-1.9 |
1.9 |
|
Japan |
15.9 |
-1.3 |
17.2 |
1.6 |
12.4 |
-1.4 |
3.3 |
0.1 |
|
|
Switzerland |
6.0 |
4.2 |
1.9 |
1.2 |
6.0 |
-1.1 |
-0.2 |
0.1 |
|
|
Spain |
4.8 |
4.6 |
0.2 |
1.5 |
1.9 |
0.3 |
1.1 |
0.0 |
|
|
Luxembourg |
3.4 |
3.2 |
0.1 |
0.0 |
-0.1 |
1.6 |
1.8 |
0.2 |
|
|
Largest decreases |
Denmark |
-1.2 |
-1.2 |
0.1 |
-0.3 |
0.0 |
0.1 |
-1.0 |
0.0 |
|
Belgium |
-1.4 |
-1.5 |
0.1 |
0.1 |
-1.5 |
0.1 |
0.0 |
0.0 |
|
|
Canada |
-4.6 |
-4.2 |
-0.4 |
-3.4 |
0.6 |
-1.2 |
-0.6 |
0.0 |
|
|
Germany |
-10.3 |
2.7 |
-13.1 |
-0.5 |
-7.2 |
-2.6 |
-0.2 |
0.1 |
|
|
France |
-11.8 |
18.3 |
-30.1 |
18.6 |
-33.0 |
0.0 |
2.7 |
0.0 |
|
Table C: Amounts outstanding of external claims on an ultimate risk basis: Developed Countries (US$ billion) - 2025 Q3
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
United States |
1,800.2 |
1,070.8 |
729.4 |
55.6 |
577.6 |
953.0 |
159.7 |
54.3 |
|
Japan |
225.1 |
87.4 |
137.7 |
35.0 |
68.2 |
85.5 |
35.7 |
0.7 |
|
|
Switzerland |
49.0 |
37.2 |
11.8 |
10.6 |
17.1 |
3.6 |
11.3 |
6.4 |
|
|
Spain |
45.0 |
44.5 |
0.5 |
24.8 |
8.6 |
2.3 |
9.1 |
0.3 |
|
|
Luxembourg |
68.9 |
51.5 |
17.4 |
4.0 |
9.5 |
44.0 |
10.0 |
1.5 |
|
|
Largest decreases |
Denmark |
10.3 |
10.0 |
0.2 |
3.9 |
1.6 |
2.4 |
2.4 |
0.0 |
|
Belgium |
10.0 |
8.7 |
1.3 |
2.6 |
2.0 |
1.3 |
4.0 |
0.1 |
|
|
Canada |
68.6 |
66.0 |
2.6 |
24.8 |
27.5 |
13.8 |
2.0 |
0.5 |
|
|
Germany |
217.4 |
116.8 |
100.6 |
70.2 |
118.6 |
7.3 |
19.2 |
2.0 |
|
|
France |
416.0 |
271.7 |
144.3 |
216.7 |
135.4 |
20.8 |
33.1 |
9.9 |
|
Consolidated external claims: Offshore Centres
Chart 5: Changes in consolidated external claims on an ultimate risk basis by counterpart sector for Offshore Centres - 2025 Q3
Chart 6: Changes in consolidated external claims on an ultimate risk basis by country for Offshore Centres - 2025 Q3 (5 largest increases/decreases)
Table D: Changes in external claims on an ultimate risk basis: Offshore Centres (US$ billion) - 2025 Q3
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
Hong Kong |
16.9 |
3.4 |
13.5 |
-0.1 |
7.6 |
6.5 |
-0.1 |
3.0 |
|
Jersey |
4.8 |
4.9 |
-0.1 |
-0.8 |
0.1 |
5.4 |
0.1 |
0.1 |
|
|
Cayman Islands |
3.4 |
3.3 |
0.0 |
-0.2 |
0.1 |
3.1 |
0.3 |
0.0 |
|
|
Bermuda |
0.6 |
0.6 |
0.0 |
-0.1 |
0.1 |
0.2 |
0.2 |
0.0 |
|
|
Mauritius |
0.2 |
0.1 |
0.1 |
0.1 |
0.0 |
-0.4 |
0.6 |
0.0 |
|
|
Largest decreases |
Macao |
-0.1 |
0.0 |
-0.1 |
0.0 |
0.0 |
0.0 |
-0.1 |
0.0 |
|
Bahrain |
-0.3 |
0.1 |
-0.3 |
0.0 |
-0.1 |
0.0 |
-0.2 |
0.0 |
|
|
Guernsey |
-0.3 |
0.3 |
-0.5 |
0.0 |
0.0 |
-0.1 |
-0.1 |
0.0 |
|
|
Singapore |
-0.8 |
-3.6 |
2.8 |
0.4 |
1.6 |
-5.2 |
-0.1 |
2.5 |
|
|
West Indies UK |
-1.6 |
-1.6 |
0.0 |
0.0 |
0.0 |
-1.8 |
0.2 |
0.0 |
|
Table E: Amounts outstanding of external claims on an ultimate risk basis: Offshore Centres (US$ billion) - 2025 Q3
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
Hong Kong |
498.5 |
47.5 |
450.9 |
6.8 |
144.6 |
72.8 |
104.6 |
169.7 |
|
Jersey |
50.9 |
45.9 |
5.0 |
0.3 |
0.3 |
36.9 |
8.1 |
5.2 |
|
|
Cayman Islands |
73.3 |
73.0 |
0.3 |
1.4 |
0.1 |
66.8 |
4.3 |
0.7 |
|
|
Bermuda |
9.0 |
6.4 |
2.5 |
0.1 |
0.9 |
5.0 |
1.5 |
1.5 |
|
|
Mauritius |
4.2 |
3.2 |
1.1 |
0.9 |
0.2 |
1.3 |
1.8 |
0.0 |
|
|
Largest decreases |
Macao |
2.6 |
0.3 |
2.2 |
0.1 |
0.6 |
0.0 |
0.8 |
1.1 |
|
Bahrain |
8.0 |
4.3 |
3.6 |
3.2 |
2.1 |
0.4 |
1.2 |
1.1 |
|
|
Guernsey |
15.7 |
11.8 |
3.9 |
0.4 |
0.0 |
9.3 |
3.4 |
2.6 |
|
|
Singapore |
187.8 |
57.1 |
130.7 |
14.7 |
77.5 |
28.4 |
26.3 |
40.9 |
|
|
West Indies UK |
5.2 |
5.1 |
0.0 |
0.0 |
0.0 |
1.2 |
3.8 |
0.2 |
|
Consolidated external claims: Developing Countries
Chart 7: Changes in consolidated external claims on an ultimate risk basis by counterpart sector for Developing Countries - 2025 Q3
Chart 8: Changes in consolidated external claims on an ultimate risk basis by country for Developing Countries - 2025 Q3 (5 largest increases/decreases)
Table F: Changes in external claims on an ultimate risk basis: Developing Countries (US$ billion) - 2025 Q3
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
United Arab Emirates |
10.0 |
7.2 |
2.8 |
1.1 |
0.2 |
6.9 |
1.5 |
0.4 |
|
Czech Republic |
2.5 |
2.4 |
0.1 |
0.0 |
2.6 |
0.0 |
0.0 |
0.0 |
|
|
Turkey |
2.5 |
1.3 |
1.2 |
1.3 |
0.6 |
0.5 |
0.1 |
0.0 |
|
|
Malaysia |
1.5 |
1.1 |
0.3 |
-0.3 |
1.6 |
0.2 |
0.0 |
0.0 |
|
|
Nigeria |
1.2 |
1.2 |
0.1 |
0.2 |
0.8 |
0.1 |
0.0 |
0.1 |
|
|
Largest decreases |
Brazil |
-1.9 |
-2.0 |
0.1 |
0.4 |
-2.4 |
-0.2 |
0.3 |
0.0 |
|
Saudi Arabia |
-2.2 |
-2.2 |
0.0 |
-1.5 |
-0.3 |
-0.8 |
0.4 |
0.1 |
|
|
India |
-2.4 |
1.7 |
-4.1 |
0.0 |
-2.1 |
-0.2 |
0.1 |
-0.3 |
|
|
Taiwan |
-4.1 |
-1.9 |
-2.2 |
-0.9 |
-1.5 |
-0.6 |
-0.7 |
-0.5 |
|
|
China |
-19.1 |
-17.1 |
-2.0 |
-7.5 |
-12.1 |
0.5 |
0.1 |
-0.1 |
|
Table G: Amounts outstanding of external claims on an ultimate risk basis: Developing Countries (US$ billion) - 2025 Q3
|
|
|
Total |
of which by origin: |
of which by sector: |
|||||
|---|---|---|---|---|---|---|---|---|---|
|
Cross-border |
Local |
DTC |
Public Sector |
OFC |
NFC |
HH |
|||
|
Largest increases |
United Arab Emirates |
100.7 |
56.1 |
44.5 |
15.1 |
17.1 |
38.0 |
20.6 |
9.8 |
|
Czech Republic |
4.9 |
3.3 |
1.6 |
0.2 |
4.5 |
0.1 |
0.2 |
0.0 |
|
|
Turkey |
17.7 |
11.8 |
5.9 |
8.5 |
5.4 |
0.8 |
2.9 |
0.2 |
|
|
Malaysia |
41.9 |
6.6 |
35.3 |
7.0 |
15.5 |
1.4 |
8.2 |
9.8 |
|
|
Nigeria |
4.5 |
3.4 |
1.1 |
0.6 |
2.4 |
0.1 |
0.8 |
0.5 |
|
|
Largest decreases |
Brazil |
28.8 |
26.7 |
2.1 |
6.0 |
17.2 |
1.7 |
3.7 |
0.1 |
|
Saudi Arabia |
31.3 |
29.5 |
1.8 |
9.4 |
5.3 |
10.3 |
4.4 |
1.9 |
|
|
India |
93.5 |
12.4 |
81.0 |
8.3 |
34.9 |
13.2 |
29.7 |
7.4 |
|
|
Taiwan |
54.8 |
19.1 |
35.7 |
5.6 |
11.9 |
8.2 |
11.8 |
17.3 |
|
|
China |
241.1 |
113.4 |
127.7 |
57.3 |
68.4 |
32.2 |
69.4 |
13.8 |
|
Queries
If you have any comments or queries about this data release, please email dsd_ibs@bankofengland.co.uk
Next release date: 20 March 2026
