Post-Brexit vote, large US banks have curbed UK exposures
US G-Sibs shed $171 billion of claims on UK private sector between Q1 2016 and Q1 2019
Systemic US lenders have cut ties with the UK since the 2016 Brexit vote, analysis by Federal Reserve economists shows.
Loans and derivatives claims of the eight US global systemically important banks (G-Sibs) on UK private sector entities dropped by 37%, to $295 billion from $466 billion, between Q1 2016 and Q1 2019.
Goldman Sachs has reduced its exposures the most over this period, by $40 billion (44%), followed by Morgan Stanley, which cut $39 billion (49%).
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