Banks’ claims on the public sector up a third post-Covid

Own-country debt and reserves climbed 44%

Banks have become far more enmeshed with sovereign governments and central banks over the course of the Covid pandemic, data from the Bank for International Settlements (BIS) shows.

As of Q3 2020, reporting banks’ claims on the “official sector”, a BIS term, amounted to $20.78 trillion, up 33% from $15.67 trillion the year prior. Banks’ claims on the official sectors of their home countries increased 44% to $12.23 trillion and those on the official sectors of foreign countries 19% to $8.55

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