Cross-border lending extends slump: BIS

bank-for-international-settlements

Banks continued to reduce international lending in the last three months of 2009, provisional statistics published on Thursday by the Bank for International Settlements (BIS) showed.

A 2.2% drop in lending to both banks and non-banks in developed countries caused the fall in international lending, extending four consecutive quarterly declines in cross-border activity. Cross-border lending between October and December of last year fell by $385 billion. Lending to non-bank institutions within the

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