BIS International Banking Statistics - Q1 2001

EUROPE - The latest report by the Bank for International Settlements reveals a significant increase in lending to offshore centres in the Caribbean last year, which could be the result of increased hedge-fund activity.

Claims on offshore centres rose by an adjusted $30 billion, says the bank, mostly on private non-banks and amounting to almost 50 per cent of the total increase in 2000.

Most of the credit went to non-banks on the Cayman Islands (about $19 billion adjusted), while US and European

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