March 2015 BIS Quarterly Review: A wave of further
easing
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18
March 2015
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Excerpts
from Press release by BIS (BANK FOR INTERNATIONAL SETTLEMENTS)
- The revival in international bank lending since early 2014 has occurred alongside persistently strong bond issuance in emerging markets. Cross-border lending to most Asian emerging economies continued to grow rapidly, although lending to China showed signs of peaking.
- Cross-border lending to most Asian emerging economies continued to grow rapidly, although lending to China showed signs of peaking. Claims on China were 40% higher than a year earlier, but rose by only 3% on a quarterly basis in the third quarter of 2014, and international claims on Chinese banks fell. Burgeoning cross-border capital flows to some emerging economies, particularly in East Asia, could further stoke domestic credit booms.
- At end-September 2014, US dollar credit to non-bank borrowers outside the United States totaled $9.2 trillion. This represents an increase of 9% over a year earlier and of over 50% since end-2009. The total comprised $4.2 trillion of debt securities and $4.9 trillion of bank loans.
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