03-06-2013, 03:17 PM
Global interbank lending falls to record low: BIS
VIENNA — Banks were more reluctant than ever to lend to peers abroad last year, driving cross-border interbank loans as a share of total credit to a historical low, the Bank for International Settlements (BIS) said.
Cross-border lending of banks reporting to the BIS fell by US$345 billion (S$437 billion), or 1.2 per cent, to US$29.3 trillion in the final quarter of last year, bringing the decline for the year to 1.9 per cent, the Basel, Switzerland-based institution said yesterday.
The drop was caused by a 5.2 per cent reduction in lending to banks based in the euro area, as well as by shrinking lending to the United Kingdom and United States, the BIS said.
Interbank lending as a share of all cross-border lending fell to a record 38 per cent.
http://www.todayonline.com/business/glob...rd-low-bis
VIENNA — Banks were more reluctant than ever to lend to peers abroad last year, driving cross-border interbank loans as a share of total credit to a historical low, the Bank for International Settlements (BIS) said.
Cross-border lending of banks reporting to the BIS fell by US$345 billion (S$437 billion), or 1.2 per cent, to US$29.3 trillion in the final quarter of last year, bringing the decline for the year to 1.9 per cent, the Basel, Switzerland-based institution said yesterday.
The drop was caused by a 5.2 per cent reduction in lending to banks based in the euro area, as well as by shrinking lending to the United Kingdom and United States, the BIS said.
Interbank lending as a share of all cross-border lending fell to a record 38 per cent.
http://www.todayonline.com/business/glob...rd-low-bis