NBFIs dominate US cross-border credit growth in Q3

- By Lea Mok
- 09 Feb 2026

Cross-border bank credit to US non-bank financial institutions (NBFIs) rose by $157 billion in Q3 2025, marking the second-largest quarterly increase in more than five years and accounting for over half of the growth in cross-border credit to the country.

Data from the Bank for International Settlements (BIS) shows that global cross-border lending expanded by $730 billion in the quarter, down more

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