Banks’ cross-border exposures to shadow banks surged in Q1
Liabilities to NBFIs increased three times more than usual over Q1 2020
Liabilities owed to overseas non-bank financial institutions (NBFIs) by lenders leapt $779 billion over the first three months of 2020 – three times the average first quarter amount since 2015 – as the coronavirus crisis sparked a dash for cash across the shadow banking sector.
Data parsed by the Bank for International Settlements (BIS) shows the majority of the growth in cross-border NBFI
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