BIS tracks $1.1 trillion drop in cross-border claims
Lending surged and then fell back as banks reallocated funds during the Covid-19 crisis
The latest data from the Bank for International Settlements shows a sharp turnaround in cross-border lending in the second quarter of 2020.
The BIS international banking statistics as of the end of June show a contraction in cross-border claims of $1.1 trillion in Q2. That represents a marked change from Q1, when claims surged by $2.7 trillion. The year-on-year growth rate fell from 10% to 5%.
The BIS attributes both the surge and its partial reversal in large part to changes in interbank
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