Banks’ borrowings off overseas shadow lenders picked up in Q3

Majority of liabilities are owed non-banks in developed countries

Banks acquired an additional $97.6 billion of funding from overseas non-bank financial institutions (NBFIs) in Q3 2020, bringing their total outstanding liabilities to the sector close to the first quarter’s record high.

Data from the Bank for International Settlements (BIS) shows that total cross-border liabilities to NBFIs hit $5.53 trillion at end-September, up almost 4% on end-June and less than 2% shy of the record level posted in Q1. Cross-border claims on NBFIs climbed at a slower rate

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