Cross-border lending to shadow banks spiked in Q3
Non-bank financial institutions record fastest annual growth since Covid-19 pandemic
Global banks’ cross-border claims rose by $629 billion in the third quarter of last year to $41 trillion, data from the Bank of International Settlements (BIS) shows.
The increase was primarily driven by cross-border credit to non-bank financial institutions (NBFIs), which climbed by $495 billion over the quarter, reaching an annual growth rate of 13.5% – the highest since Q1 2020. The non
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