US dollar credit to non-bank borrowers outside the United States grew by 5% year on year at end-September 2019, to reach $12.1 trillion. Euro-denominated credit outside the euro area continued to expand at a fast pace (9%). In contrast, the growth rate of yen-denominated credit outside Japan fell to 1%. Strong debt securities issuance drove expansions in US dollar and euro credit to emerging market and developing economies (EMDEs). US dollar credit to EMDEs grew at an annual rate of 3% (to reach $3.8 trillion); euro credit to EMDEs expanded by 9% (to reach €0.7 trillion).
Global cross-border bank claims continued to expand rapidly, growing at 9% year on year. As in previous quarters, the expansion was mainly due to claims on the non-bank sector, which grew at 12% year on year. The growth in claims on non-bank financial institutions was particularly strong (+17%). European banks' cross-border lending, which went through a prolonged contraction after the Great Financial Crisis (GFC) of 2007-09, has been expanding again since the start of 2018.
The BIS Statistical Bulletin is published quarterly and summarises all BIS statistics in tabular form. It includes introductions to each data set and a glossary of statistical terms.
Notional amounts of OTC derivatives rose to $640 trillion at end-June 2019. This is up from $544 trillion at end-2018 and the highest level since 2014. It marks a continuation of the trend increase evident since end-2016. The gross market value of OTC derivatives, summing positive and negative values, also rose, from $9.7 trillion to $12.1 trillion, led by increases in euro interest rate derivative contracts. The lastest semiannual data benefit from the addition of more comprehensive information for smaller dealers collected as part of the BIS Triennial Survey. Dealers in emerging market economies (EMEs) accounted for 9% of the outstanding notional amounts of foreign exchange and commodity derivatives globally at end-June 2019, up from 7% at end-June 2016.
Commentary on Red Book statistics: Shaping the future of payments, November 2019
US dollar credit to non-bank borrowers outside the United States grew by 4% year on year at end-June 2019, to reach $11.9 trillion. Foreign currency credit denominated in euros and Japanese yen continued to expand at a faster pace than that in US dollars, growing at annual rates of 9% and 8%, respectively. US dollar credit to emerging market and developing economies (EMDEs) grew at an annual rate of 2% (to reach $3.7 trillion), though growth varied substantially across regions.
BCBS Press release "Basel Committee issues progress report on banks' implementation of the 'Principles for effective risk data aggregation and reporting'", 29 April 2020
Press release "Saudi G20 Presidency and the Bank for International Settlements (BIS) Innovation Hub invite global innovators to solve RegTech and SupTech challenges", 27 April 2020
CPMI Press release "How fintech can promote financial inclusion - a new report on the opportunities and challenges", 14 April 2020
CPMI Press release "Jurisdictions move towards full implementation of standards for financial market infrastructures", 8 April 2020.
BCBS Press release "Basel III monitoring results based on end-June 2019 data published by the Basel Committee", 8 April 2020
BCBS Press release "Basel Committee and IOSCO announce deferral of final implementation phases of the margin requirements for non-centrally cleared derivatives", 3 April 2020
BCBS Press release "Basel Committee sets out additional measures to alleviate the impact of Covid-19", 3 April 2020
Press release "Governors and Heads of Supervision announce deferral of Basel III implementation to increase operational capacity of banks and supervisors to respond to Covid-19", 27 March 2020
Press release "Basel Committee coordinates policy and supervisory response to Covid-19", 20 March 2020
Press release about Basel Committee assesses members' implementation of the Net Stable Funding Ratio and large exposures framework, 19 March 2020
BIS statement, 16 March 2020.
BIS Press Release - Shaping the future of payments: BIS Quarterly Review, 1 March 2020
Basel Committee Press release "Basel Committee meets to review vulnerabilities and emerging risks, advance supervisory initiatives and promote Basel III implementationl", 27 February 2020.
The Bank for International Settlements (BIS) today announced two key appointments to the BIS Innovation Hub, a new initiative designed to support central bank collaboration on new financial technology. (Press release, 19 February 2020)
No global real estate market despite higher price synchronisation and growing role of international investors, central banks find (Press release, 18 February 2020)
Markets Committee calls for wider adoption of global code of conduct for foreign exchange markets (Press release, 30 January 2020)
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Sveriges Riksbank and the Swiss National Bank, together with the Bank for International Settlements (BIS), have created a group to share experiences as they assess the potential case for central bank digital currency (CBDC) in their home jurisdictions. (Press release, 21 January 2020)
The BIS Board of Directors has decided to invite the central banks of Kuwait, Morocco and Vietnam to become members of the BIS. This is the first such expansion since 2011 and will take the number of members to 63.
Press release about the Basel Committee launching the consolidated Basel Framework, 16 December 2019.
Press release: Basel Committee invites comments on the design of a prudential treatment for crypto-assets, 12 December 2019.
Press release: CPMI report sets out considerations for developers of wholesale digital tokens, 12 December 2019
Press release: CPMI and IOSCO share authorities´ experiences in cooperation to increase FMI safety and efficiency, 10 December 2019
BIS Press Release - Easing trade tensions lift sentiment: BIS Quarterly Review, 8 December 2019
Press release about the Basel Committee publishing consultation paper on revisions to the credit valuation adjustment risk framework, 28 November 2019.
Speech by Mr Stefan Ingves, Governor of the Sveriges Riksbank, at the Sveriges Riksbank, Stockholm, 3 April 2020.
Op-ed by Agustín Carstens published in the Financial Times on 29 March 2020.
Interview with Luiz A Pereira da Silva, Deputy General Manager of the BIS, in Central Banking, conducted by Ms Rachael King and published on 16 February 2020.
On-the-record remarks of the March 2020 Quarterly Review media briefing by Mr Claudio Borio, Head of the Monetary and Economic Department, and Mr Hyun Song Shin, Economic Adviser and Head of Research, 28 February 2020.
Exiting low inflation traps by "consensus": nominal wages and price stability - Speech by Luiz A Pereira da Silva and Benoît Mojon, based on the keynote speech at the Eighth High-level Policy Dialogue between the Eurosystem and Latin American Central Banks, Cartagena de Indias, Colombia, 28-29 November 2019.
On-the-record remarks of the December 2019 Quarterly Review media briefing by Mr Claudio Borio, Head of the Monetary and Economic Department, and Mr Hyun Song Shin, Economic Adviser and Head of Research, 6 December 2019.
Lecture by Mr Agustín Carstens, General Manager of the BIS, at the Princeton University, Princeton, New Jersey, 5 December 2019.
Speech by Dr Agustín Carstens at the celebration of 25 years of Bank of Mexico independence, Mexico City, 22 November 2019.
Original quotes from interview with Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, in Germany's Boerzen-Zeitung, conducted by Mr Mark Schroers and published on 21 November 2019.
Based on remarks by Mr Luiz Awazu Pereira da Silva, Deputy General Manager of the BIS, with Jon Frost and Leonardo Gambacorta at the Santander International Banking Conference on "Banking on trust: Building confidence in the future", Madrid, 5 November 2019.
Lecture by Claudio Borio, Head of the Monetary and Economic Department, at the University of Zürich, Zürich, 19 November 2019.
Keynote speech by Mr Agustín Carstens, General Manager of the BIS, at the 55th SEACEN Governors' Conference and High-level Seminar on "Data and technology: embracing innovation", Singapore, 14 November 2019.
Op-ed by Mr Agustín Carstens, General Manager of the BIS, published in The Business Times Singapore, 13 November 2019.
Speech by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the SUERF Annual Lecture Conference on "Populism, Economic Policies and Central Banking", SUERF/BAFFI CAREFIN Centre Conference, Milan, 8 November 2019.
Op-ed by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, published in Il Sole 24 Ore, 8 November 2019.
Speech by Mr Claudio Borio, Head of the Monetary and Economic Department of the BIS, at the OECD-G20 High Level Policy Seminar, Paris, 11 September 2019.
Original quotes from interview by Mr Agustin Carstens, General Manager of the BIS, with Exame, conducted by Mr Felipe Serrano on 9 October 2019 and published on 24 October 2019.
Speech by Mr Fernando Restoy, Chairman, Financial Stability Institute, Bank for International Settlements, at the ASBA-BID-FELABAN XVI Banking public-private sector regional policy dialogue "Challenges and opportunities in the new financial ecosystem", Washington DC, 16 October 2019.
Speech by Mr Agustín Carstens, General Manager of the BIS, at the Founding Ceremony, Swiss Centre BIS Innovation Hub, Zurich, 8 October 2019.
Speech by Mr Agustín Carstens, General Manager of the BIS, at the Fourteenth ASBA-BCBS-FSI High-level Meeting on Global and Regional Supervisory Priorities, Lima, 1 October 2019.