Cross-border credit slips back into contraction
Latest BIS statistics show rebound of cross-border claims was temporary
A slowdown in cross-border bank credit during the second quarter tipped the overall figures for global credit flows into a contraction phase, the latest figures from the Bank for International Settlements show.
“The rebound in international banking activity seen at the start of 2017 proved temporary,” the BIS says in its summary of the new data.
Growth in all sectors slipped just below the zero mark as of the end of June, contracting 0.2% relative to a year earlier. Claims on banks fell the
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