Claims on offshore centres at record high – BIS data

Hong Kong _ junkboat _ Getty - web.jpg
Hong Kong was one of the main recipients of cross-border flows in Q4 2017

Cross-border banking flows to offshore banking centres hit a record high in the fourth quarter of 2017, as part of a broader surge in global banking activity, data from the Bank for International Settlements shows.

Cross-border claims on borrowers in offshore centres rose 3% in 2016 and by more than 7% in 2017, according to the latest international banking statistics.

Total claims reached $4.6 trillion by the end of 2017, surpassing their previous peak, recorded just before the global

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