BIS stats show further retreat in global banking flows
Falling claims on China drive bulk of overall reduction in cross-border claims
Banks continued to cut back their cross-border activity in the third quarter of 2015, with the bulk of the movement driven by outflows from China, the Bank for International Settlements' (BIS) latest international banking statistics show.
Published today (January 21), the figures show emerging Asia accounted for $145 billion of the overall $151 billion drop in cross-border claims – which was still substantially lower than the Q2 decline of $918 billion. China alone accounted for $119 billion
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