External business of Monetary Financial Institutions operating in the UK - 2024 Q1

This statistical release covers claims on and liabilities to other countries by UK-resident banks and building societies (monetary financial institutions).
Published on 07 June 2024

Key points

  • Adjusted for exchange rate movements, external liabilities increased by $180.4 billion during 2024 Q1. By region, the largest increase in liabilities was to Developed Countries, where the largest country increase was to the United States ($83.3 billion).
  • Adjusted for exchange rate movements, external claims increased by $191.6 billion during 2024 Q1. By region, the largest increase in claims was on Developed Countries, where the largest country increase was on Japan ($75.1 billion).

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

 

Exchange rate adjusted flows

Amounts outstanding

Q3

Q4

Q1

End-Mar 2024

2023

2024

Liabilities to:

Developed Countries

64.6

42.9

109.1

3,370.3

Offshore Centres

10.7

1.6

13.3

703.2

Developing Countries

-17.6

8.7

35.7

575.8

International Organisations & Other

31.5

-25.9

22.4

1,016.9

Total

89.2

27.2

180.4

5,666.2

Claims on:

Developed Countries

132.2

60.8

155.4

4,335.8

Offshore Centres

-39.7

-12.5

23.8

522.1

Developing Countries

-3.4

11.3

11.5

462.0

International Organisations & Other

22.9

-23.2

0.8

149.6

Total

112.0

36.4

191.6

5,469.5

Chart 1: Exchange rate adjusted flows of liabilities by counterpart sector and region 2024 Q1 (US$ billions)

Chart 2: Exchange rate adjusted flows of claims by counterpart sector and region 2024 Q1 (US$ billions)

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

Chart 3: Flows of liabilities by country for Developed Countries 2024 Q1 (5 largest increases/decreases) (US$ billions)

Chart 4: Flows of claims by country for Developed Countries 2024 Q1 (5 largest increases/decreases) (US$ billions)

Table B: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Developed Countries - 2024 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United States

1,508.4

83.3

654.7

74.3

853.7

9.0

Germany

357.2

25.6

326.7

27.2

30.5

-1.6

Japan

192.1

23.3

122.4

4.3

69.7

19.0

France

267.7

4.3

244.5

5.1

23.2

-0.8

Switzerland

249.0

4.0

177.8

-3.1

71.2

7.1

Largest decreases

Ireland

196.9

-1.6

50.6

-1.0

146.3

-0.5

New Zealand

2.6

-1.6

0.9

-1.2

1.7

-0.5

Netherlands

129.6

-8.9

54.0

-4.8

75.6

-4.0

Canada

105.1

-12.4

81.1

-15.5

24.0

3.0

Luxembourg

76.0

-17.2

14.1

0.2

62.0

-17.3

 

Table C: Amounts outstanding and exchange rate adjusted flows of claims by country: Developed Countries - 2024 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Japan

450.2

75.1

273.4

44.6

176.8

30.5

Germany

459.0

27.2

407.2

20.2

51.8

7.0

Canada

276.9

22.0

215.3

16.1

61.6

5.9

United States

1,682.2

18.2

676.3

-10.7

1,006.0

28.9

France

505.3

12.0

442.4

-0.5

62.9

12.6

Largest decreases

Netherlands

117.0

-1.3

61.4

-0.8

55.6

-0.5

Sweden

33.7

-2.6

18.6

-0.1

15.1

-2.4

Spain

40.9

-3.3

25.7

-3.8

15.2

0.5

Ireland

155.0

-8.3

42.6

-1.6

112.4

-6.7

Luxembourg

156.2

-9.5

15.8

-2.1

140.3

-7.4

 

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

Chart 5: Flows of liabilities by country for Offshore Centres 2024 Q1 (5 largest increases/decreases) (US$ billions)

Chart 6: Flows of claims by country for Offshore Centres 2024 Q1 (5 largest increases/decreases) (US$ billions)

Table D: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Offshore Centres - 2024 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Cayman Islands

123.1

8.1

1.6

0.0

121.6

8.1

Guernsey

66.1

7.7

50.8

7.5

15.3

0.2

Singapore

120.0

6.8

72.3

3.1

47.7

3.7

Jersey

154.3

4.0

133.5

6.1

20.8

-2.1

Barbados

14.7

0.7

14.1

0.5

0.6

0.2

Largest decreases

Bermuda

24.1

-0.4

15.2

-0.4

8.9

-0.1

Mauritius

3.2

-0.8

1.9

-0.6

1.3

-0.3

Curacao

0.9

-0.9

0.0

0.0

0.9

-0.8

Bahamas

5.7

-2.6

3.1

-2.5

2.6

-0.1

Hong Kong

140.7

-8.7

68.3

-10.3

72.4

1.6

Table E: Amounts outstanding and exchange rate adjusted flows of claims by country: Offshore Centres - 2024 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Cayman Islands

158.5

15.8

37.2

-4.1

121.3

19.9

Hong Kong

115.5

6.6

46.4

-1.7

69.1

8.3

Jersey

83.3

4.0

12.9

1.4

70.4

2.6

Curacao

7.6

2.9

6.5

1.9

1.1

1.0

Mauritius

7.1

1.3

1.4

-0.5

5.7

1.8

Largest decreases

West Indies UK

14.0

-0.6

0.1

0.0

13.9

-0.6

Bahamas

4.4

-0.6

3.5

-0.5

0.9

-0.1

Bahrain

7.0

-1.1

5.0

-1.6

2.0

0.5

Bermuda

7.2

-1.6

0.0

0.0

7.2

-1.6

Singapore

87.2

-2.5

54.6

-4.8

32.6

2.3

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

Chart 7: Flows of liabilities by country for Developing Countries 2024 Q1 (5 largest increases/decreases) (US$ billions)

Chart 8: Flows of claims by country for Developing Countries 2024 Q1 (5 largest increases/decreases) (US$ billions)

Table F: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Developing Countries - 2024 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United Arab Emirates

63.9

11.5

33.6

3.6

30.3

7.8

Saudi Arabia

92.1

10.1

59.9

11.5

32.1

-1.3

Hungary

6.9

5.2

0.5

0.3

6.4

4.9

South Korea

15.8

4.3

8.5

0.3

7.3

4.1

India

42.1

3.7

38.7

3.5

3.4

0.2

Largest decreases

Malaysia

4.3

-0.7

0.9

0.1

3.4

-0.8

Uzbekistan

0.6

-0.8

0.5

-0.8

0.1

0.0

Kazakhstan

7.2

-1.2

3.3

-1.4

3.9

0.3

Poland

9.6

-4.0

7.9

-3.9

1.6

-0.1

China

64.0

-6.3

57.0

-6.2

7.0

-0.1

Table G: Amounts outstanding and exchange rate adjusted flows of claims by country: Developing Countries - 2024 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United Arab Emirates

74.4

10.0

41.3

1.3

33.1

8.7

Egypt

13.0

4.9

3.0

0.2

10.1

4.7

India

32.0

4.7

20.6

4.5

11.4

0.2

South Africa

13.7

4.2

6.7

0.8

7.0

3.4

Turkey

26.2

1.1

16.9

1.7

9.3

-0.5

Largest decreases

Qatar

57.8

-1.5

39.6

0.8

18.1

-2.3

Mexico

4.8

-2.1

2.4

1.1

2.4

-3.3

China

50.8

-2.4

38.9

-4.1

11.9

1.6

Israel

11.0

-3.5

7.9

-1.1

3.1

-2.4

Saudi Arabia

25.9

-4.8

5.9

-0.8

20.0

-4.0

Queries

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

Next release date: 6 September 2024

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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