bis quarterly chart pack - september 2015, bank for international settlements

BIS Q September 2015

BIS Quarterly Review, September 2015A1Annexes

BIS Statistics: Charts

The statistics published by the BIS are a unique source of information about the structure of and activity in the global financial system. BIS statistics are presented in graphical form in this annex and in tabular form in the BIS Statistical Bulletin, which is published concurrently with the BIS Quarterly Review. For introductions to the BIS statistics and a glossary of terms used in this annex, see the BIS Statistical Bulletin.The data shown in the charts in this annex can be downloaded from the BIS Quarterly Review page on the BIS website (www.bis.org/publ/quarterly.htm). Data may have been revised or updated subsequent to the publication of this annex. For the latest data and to download additional data, see the statistics pages on the BIS website (www.bis.org/statistics/index.htm). A release calendar provides advance notice of publication dates (www.bis.org/statistics/relcal.htm).

A Locational banking statisticsA.1 Cross-border claims, by sector, currency and instrument............................................ A3 A.2 Cross-border claims, by borrowing region......................................................................... A4 A.3 Cross-border claims, by borrowing country ...................................................................... A5

A.4 Cross-border claims, by nationality of reporting bank and currency of denomination................................................................................................................................. A6

A.5 Cross-border liabilities of reporting banks......................................................................... A7

Consolidated banking statistics

Consolidated claims of reporting banks on advanced economies........................... A8

Consolidated claims of reporting banks on emerging market economies ........... A9

Debt securities statistics

C.1 Global debt securities markets..............................................................................................A10

C.2 Total debt securities, by sector of issuer ...........................................................................A10

C.3 International debt securities, by currency and sector ..................................................A11

C.4 International debt securities issued by borrowers from emerging market economies .....................................................................................................................................A11

D Derivatives statistics

D.1 Exchange-traded derivatives..................................................................................................A12

1http://www.bis.org/publ/qtrpdf/r_qt1509_charts.pdfBIS Quarterly Review, September 2015

A2BIS Quarterly Review, September 2015D.2 Global OTC derivatives markets ...........................................................................................A13

D.3 OTC foreign exchange derivatives.......................................................................................A13

D.4 OTC interest rate derivatives.................................................................................................. A14

D.5 OTC equity-linked derivatives ............................................................................................... A14

D.6 OTC commodity derivatives ................................................................................................... A15

D.7 Credit default swaps..................................................................................................................A15

D.8 Concentration in global OTC derivatives markets.........................................................A16

Global liquidity indicators

E.1 Growth of international bank credit....................................................................................A17Global bank credit to the non-bank sector, by residence of borrower ................A18 E.3 Global credit to the non-financial sector, by currency ................................................A19

Statistics on total credit to the non-financial sector

F.1 Total credit to the non-financial sector (core debt) .....................................................A20

Total credit to the private non-financial sector (core debt) .....................................A21Bank credit to the private non-financial sector (core debt) ......................................A22 F.4 Total credit to households (core debt) ..............................................................................A23 F.5 Total credit to non-financial corporations (core debt)................................................A24

Total credit to the government sector at market value (core debt)....................... A25

Total credit to the government sector at nominal value (core debt) ....................A26

Debt service ratios for the private non-financial sectorG.1 Debt service ratios of the private non-financial sector ...............................................A27 G.2 Debt service ratios of households .......................................................................................A28 G.3 Debt service ratios of non-financial corporations.........................................................A29

Property price statistics

H.1 Real residential property prices ............................................................................................ A30

Effective exchange rate statistics

I.1 Real effective exchange rates ................................................................................................ A312BIS Quarterly Review, September 2015http://www.bis.org/publ/qtrpdf/r_qt1509_charts.pdf

3we will publish a regular chart pack of key graphs

https://twitter.com/HyunSongShin/status/643068234103713792 www.bis.org/publ/qtrpdf/r_qt1509_charts.pdfwww.bis.org/publ/qtrpdf/r_qt1509_charts.pdf

BIS Quarterly Review, September 2015

BIS Quarterly Review, September 2015A3ALocational banking statistics

Cross-border claims, by sector, currency and instrumentAmounts outstanding1 (USD trn)Adjusted changes2 (USD bn) By sector of counterpartyGraph A.1Annual change3 (per cent)

By currencyBy instrumentFurther information on the BIS locational banking statistics is available at www.bis.org/statistics/bankstats.htm.1 At quarter-end. Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date. 2 Quarterly changes in amounts outstanding, adjusted for the impact of exchange rate movements between quarter-ends and methodological breaks in the data. 3 Geometric mean of quarterly percentage adjusted changes. 4 Includes central banks and banks unallocated by subsector between intragroup and unrelated banks. 5 Other reported currencies, calculated as all currencies minus USD, EUR, JPY and unallocated currencies. The currency is known but reporting is incomplete.

0102030

2011 2012Non-bank2013 2014

Related offices

1,00050005002010 2011 2012 2013 2014 2015

Unrelated banks4

Unallocated

201001020112012201320142015

01020302011 2012

2013 2014EURUSD

JPY

1,00050005002010 2011 2012 2013 2014 2015

Other currencies5

Unallocated

201001020112012201320142015

0102030

2011 2012Loans and deposits

2013 2014Debt securities

1,0005000500

2010 2011 2012 2013 2014 2015Other InstrumentsUnallocated


A4BIS Quarterly Review, September 2015

Cross-border claims, by borrowing regionAmounts outstanding1 (USD trn)Adjusted changes2 (USD bn) On all countriesGraph A.2Annual change3 (per cent)

On offshore centresOn emerging market economiesFurther information on the BIS locational banking statistics is available at www.bis.org/statistics/bankstats.htm.1 At quarter-end. Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date. 2 Quarterly changes in amounts outstanding, adjusted for the impact of exchange rate movements between quarter-ends and methodological breaks in the data. 3 Geometric mean of quarterly percentage adjusted changes. 4 Includes international organisations and cross-border amounts unallocated by residence of counterparty.

01020302011 2012 2013 2014

Euro area

Other European advanced

1,00050005002010 2011 2012 2013 2014 2015

Other advanced4

Offshore centres

EMEs

301501520112012201320142015

01234

20112012Caribbean offshore20132014

Asian offshore

30020010001002010 2011 2012 20132014 2015

Other offshore

45301501520112012201320142015

0123

20112012Emerging Asia and Pacific2013

2014Emerging Europe

20002004002010 2011 2012 20132014 2015

Emerging Latin America and Caribbean

Emerging Africa and Middle East


BIS Quarterly Review, September 2015A5

Cross-border claims, by borrowing countryAmounts outstanding1 (USD trn)Adjusted changes2 (USD bn) On selected advanced economiesGraph A.3Annual change3 (per cent)

2011 2012 2013 2014United StatesUnited Kingdom

On selected offshore centresOn selected emerging market economiesFurther information on the BIS locational banking statistics is available at www.bis.org/statistics/bankstats.htm.1 At quarter-end. Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date. 2 Quarterly changes in amounts outstanding, adjusted for the impact of exchange rate movements between quarter-ends and methodological breaks in the data. 3 Geometric mean of quarterly percentage adjusted changes.051015

6003000300

2010 2011 2012 2013 2014 2015FranceGermanyJapan

301501520112012201320142015

0123

2011201220132014Cayman IslandsHong Kong SAR

30015001502010 2011 2012 2013 2014 2015

SingaporeJersey

Bahamas

603003020112012201320142015

0.00.51.01.5

2011 2012 2013 2014 20152010 2011 2012 2013 2014 2015ChinaBrazilIndiaRussiaSouth Africa1000100200



Cross-border claims, by nationality of reporting bank and currency of denominationAmounts outstanding1 (USD trn)Adjusted changes2 (USD bn)Annual change3 (per cent) All currenciesGraph A.4

US dollarEuroFurther information on the BIS locational banking statistics is available at www.bis.org/statistics/bankstats.htm.1 At quarter-end. Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date. 2 Quarterly changes in amounts outstanding, adjusted for the impact of exchange rate movements between quarter-ends and methodological breaks in the data. 3 Geometric mean of quarterly percentage adjusted changes.

01020 30

2011Other2012 20132014

Japan

France

1,0005000500

2010 2011 2012 2013 2014 2015GermanyUnited States

201001020112012201320142015

036912

2011Other2012 2013

2014United StatesJapan

1,00050005001,000

2010 2011 2012 2013 2014 2015United KingdomSwitzerland

30150153020112012201320142015

04812

2011 2012 2013 20142010 2011 2012 2013 2014 2015OtherGermanyFranceNetherlandsUnited Kingdom6003000300



Cross-border liabilities of reporting banksAmounts outstanding1 (USD trn)Adjusted changes2 (USD bn) On emerging market economiesGraph A.5Annual change3 (per cent)

On central banks

2011 2012 2013 2014 2015USDEURJPY

By currency type and locationFurther information on the BIS locational banking statistics is available at www.bis.org/statistics/bankstats.htm.1 At quarter-end. Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date. 2 Quarterly changes in amounts outstanding, adjusted for the impact of exchange rate movements between quarter-ends and methodological breaks in the data. 3 Geometric mean of quarterly percentage adjusted changes.0.00.61.21.82.42011 2012 20132014 2015Emerging EuropeEmerging Asia and Pacific150750751502010 2011 2012 2013 2014 2015Emerging Latin America and CaribbeanEmerging Africa and Middle East402002040201120122013201420150.00.30.60.9

100500502010 2011 2012 20132014 2015

Other currencies

Unallocated

603003020112012201320142015

0102030

2011 2012Cross-border2013 2014in all currencies

Resident in foreign currencies

1,20060006002010 2011 2012 2013 2014 2015

Unallocated


A8BIS Quarterly Review, September 2015BConsolidated banking statisticsConsolidated claims of reporting banks on advanced economiesGraph B.1

Foreign claims and local positions1, 2(USD bn)Foreign claims of selected creditors1, 3 (USD bn)International claims, by sector and maturity4 (per cent)

On the euro area

On the United StatesOn JapanFurther information on the BIS consolidated banking statistics is available at www.bis.org/statistics/bankstats.htm.

AU = Australia; CH = Switzerland; DE = Germany; FR = France; GB = United Kingdom; JP = Japan; NL = Netherlands; US = United States.1 Amounts outstanding at quarter-end. Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date. 2 Excludes domestic claims, ie claims on residents of a banks home country. 3 Foreign claims on an ultimate risk basis, by nationality of reporting bank. The banking systems shown are not necessarily the largest foreign bank creditors on each reference date. 4 As a percentage of international claims outstanding. 5 On an ultimate risk basis. 6 On an immediate counterparty basis. Includes the unconsolidated claims of banks headquartered outside but located inside CBS-reporting countries.

03,0006,0009,0002011 2012 2013 2014 2015

2507501,2501,750

2011 2012 2013FRUSDEGB

2014 2015JP

152535452011201220132014

2,0003,5005,0006,5002011 2012 2013 20142015

2005509001,250

2011 2012 2013JPCHGBFR

2014 2015DE

02040602011201220132014

0250500750

2011 2012 2013 2014Foreign claims (ultimate)5 Foreign claims (immediate)62015

2011 2012 2013 USGB FRAULocal claims in local currency Local liabilities in local currency0100200300

2014 2015NL

0255075

2011 2012 2013 2014Banks Official sectorNon-bank private sector Up to and including 1 year20159http://www.bis.org/publ/qtrpdf/r_qt1509_charts.pdfBIS Quarterly Review, September 2015

BIS Quarterly Review, September 2015A9Consolidated claims of reporting banks on emerging market economiesGraph B.2

Foreign claims and local positions1, 2(USD bn)Foreign claims of selected creditors1, 3 (USD bn)International claims, by sector and maturity4 (per cent)

On developing Asia and the Pacific

On developing EuropeOn developing Latin America and the CaribbeanFurther information on the BIS consolidated banking statistics is available at www.bis.org/statistics/bankstats.htm.AT = Austria; CA = Canada; DE = Germany; ES = Spain; FR = France; GB = United Kingdom; JP = Japan; NL = Netherlands; US = United States.1 Amounts outstanding at quarter-end. Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date. 2 Excludes domestic claims, ie claims on residents of a banks home country. 3 Foreign claims on an ultimate risk basis, by nationality of reporting bank. The banking systems shown are not necessarily the largest foreign bank creditors on each reference date. 4 As a percentage of international claims. 5 On an ultimate risk basis. 6 On an immediate counterparty basis. Includes the unconsolidated claims of banks headquartered outside but located inside CBS-reporting countries.

07501,5002,2502011 2012 2013 2014 2015

0150300450

2011 2012 2013GBJPUSFR

2014 2015DE

02040602011201220132014

2005509001,2502011 2012 2013 2014 2015

50115180245

2011 2012 2013ATDEFRUS

2014 2015NL

02040602011201220132014

4006509001,150

2011 2012 2013 2014 2015Foreign claims (ultimate)5 Foreign claims (immediate)6 Local claims in local currency Local liabilities in local currency

2011 2012 2013 ESGB USCA0150300450

2014 2015JP

10254055

2011 2012 2013 2014Banks Official sectorNon-bank private sector Up to and including 1 year10http://www.bis.org/publ/qtrpdf/r_qt1509_charts.pdfBIS Quarterly Review, September 2015

A10BIS Quarterly Review, September 2015CDebt securities statistics

Global debt securities markets1Amounts outstanding, in trillions of US dollars2

By market of issueBy sector of issuerGraph C.1By currency of denomination3

Further information on the BIS debt securities statistics is available at www.bis.org/statistics/secstats.htm.TDS = total debt securities; DDS = domestic debt securities; IDS = international debt securities; GG = general government; NFC = non- financial corporations; IO = international organisations; FC = financial corporations; HH = households and non-profit institutions serving households; USD = US dollar; EUR = euro; JPY = yen; OTH = other currencies.1 Sample of countries varies across breakdowns shown. For countries that do not report TDS, data are estimated by the BIS as DDS plus IDS. For countries that do not report either TDS or DDS, data are estimated by the BIS as IDS. 2 At quarter-end. Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date. 3 Where a currency breakdown is not available, DDS are assumed to be denominated in the local currency.

Sources: IMF; Dealogic; Euroclear; Thomson Reuters; Xtrakter Ltd; national data; BIS debt securities statistics; BIS calculations.

Further information on the BIS debt securities statistics is available at www.bis.org/statistics/secstats.htm.AU = Australia; BR = Brazil; CA = Canada, CN = China; DE = Germany; ES = Spain, FR= France; GB = United Kingdom; IE = Ireland, IT = Italy; JP = Japan; KR = Korea; KY = Cayman Islands; NL = Netherlands; US = United States.1 For countries that do not report TDS, data are estimated by the BIS as DDS plus IDS. 2 Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date.

Sources: National data; BIS debt securities statistics.

Total debt securities, by residence and sector of issuer1Amounts outstanding at end-December 2014, in trillions of US dollars2

LhsRhsGraph C.203060901011TDS1213DDS14IDS01530451011GG FC12NFC HH1314IO102030401011USD OTH121314JPYEUR

010203040

01234USJPGB

CNFRFinancial corporationsDEITNL

CABRESAUKRHouseholds and non-profit institutions serving householdsKYIEGeneral governmentNon-financial corporations11http://www.bis.org/publ/qtrpdf/r_qt1509_charts.pdfBIS Quarterly Review, September 2015


International debt securities, by currency and sectorIn trillions of US dollars

Gross and net issuanceNet issuance, by currencyGraph C.3Net issuance, by sector of issuer

Further information on the BIS debt securities statistics is available at www.bis.org/statistics/secstats.htm.EUR = euro; USD = US dollar; JPY = yen; OTH = other currencies; GG = general government; FC= financial corporations; NFC = non- financial corporations; IO = international organisations.

Sources: IMF; Dealogic; Euroclear; Thomson Reuters; Xtrakter Ltd; BIS debt securities statistics.

International debt securities issued by borrowers from emerging market economies1Net issuance, in billions of US dollarsGraph C.4

By residence of issuer2By nationality of issuer3By sector of issuers parent4

Further information on the BIS debt securities statistics is available at www.bis.org/statistics/secstats.htm.BR = Brazil; CN = China; IN = India; KR = Korea; RU = Russia; GG = general government; FI = financial corporations; NFI = non-financial corporations.1 For the sample of countries comprising emerging market economies, see the glossary to the BIS Statistical Supplement. 2 Country where issuer resides. 3 Country where issuers controlling parent is located. Includes issuance by financing vehicles incorporated in offshore financial centres with parents based in an emerging market economy. 4 By nationality, ie issuers with parents based in an emerging market economy. Issuers are grouped by sector of their parent.

Sources: IMF; Dealogic; Euroclear; Thomson Reuters; Xtrakter Ltd; BIS debt securities statistics.

3.01.50.01.5101112131415

0.500.250.000.251011121314150.500.250.000.25101112131415

2002040602011 2012

2013 2014 2015IN CNOther BR

RU KR

3003060902011 2012

2013 2014 2015INRUCNKROther BR

300306090101112131415

GG

Government FinancialsFI NFI

FI NFINon-financialsGrossRedemptionsEURUSDJPYGGNFCIONetOTHFC


A12BIS Quarterly Review, September 2015DDerivatives statisticsExchange-traded derivativesGraph D.1

Open interest, by currency1Daily average turnover, by currency2Daily average turnover, by location of exchange2

Foreign exchange derivatives3

USD bnUSD bnUSD bnInterest rate derivatives3USD trnUSD trnUSD trnFurther information on the BIS derivatives statistics is available at www.bis.org/statistics/extderiv.htm.1 At quarter-end. Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date. 2 Daily turnover averaged over the quarter. 3 Futures and options.Sources: FOW; Futures Industry Association; BIS derivatives statistics.

010020030007 08 09 10 11 12 13 14 15

05010015007 08 09 10 11 12 13 14 15

0501001502011 2012 2013 20142015

015304507 08 09 10 11 12 13 14 15

0.01.53.04.507 08 09 10 11 12 13 14 15

0.02.55.07.52011 2012 2013 20142015US dollarSterlingUS dollarSterlingNorth AmericaAsia and PacificEuroYenEuroYenEuropeOther markets

US dollarSterlingUS dollarSterlingNorth AmericaAsia and PacificEuroYenEuroYenEuropeOther Markets


BIS Quarterly Review, September 2015A13Global OTC derivatives marketsGraph D.2

Notional principal1Gross market value1

Gross credit exposure1Per centUSD trnUSD trnUSD trnFurther information on the BIS derivatives statistics is available at www.bis.org/statistics/derstats.htm.1 At half-year end (end-June and end-December). Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date.

OTC foreign exchange derivativesNotional principal1

By currencyBy maturityGraph D.3

By sector of counterpartyPer centUSD trnPer centUSD trnFurther information on the BIS derivatives statistics is available at www.bis.org/statistics/derstats.htm.1 At half-year end (end-June and end-December). Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date.

020040060007 08 09 10 11

12 13 14Commodities CDSUnallocatedInterest rate FXEquity

010203007 08 09 10 1112 13 14

Interest rate FXEquity

Commodities CDSUnallocated

0102030

0.01.53.04.5

07 08 09 10 11 12 13 14Share of gross market value (lhs) Amounts (rhs)

020406080

07 08 09 10US dollar Euro

11 12 13 14Sterling Yen

07 08 09 10 11 12 13 14

One year or lessOver 1 year and up to 5 years Over 5 years

0255075100

020406080

07 08 09 10 11 12 13 14Lhs: Share of other financial institutionsRhs:Reporting dealersOther financial institutions Non-financial institutions1007550250


A14BIS Quarterly Review, September 2015OTC interest rate derivativesNotional principal1Graph D.4

By currencyBy maturity


OTC equity-linked derivativesNotional principal1Graph D.5

By equity marketBy maturity


060120180240

07 08 09 10US dollar Euro

11 12 13 14Sterling Yen

025507510007 08 09 10 11 12 13 14


0255075100

0150300450600

07 08 09 10 11 12 13 14Lhs: Share of other financial institutionsRhs:Reporting dealersOther financial institutions Non-financial institutions

0.01.53.04.56.07.5

07 08 09 10 11United States

12 13 14Japan OtherEuropean countries

02040608010007 08 09 10 11 12 13 14


020406080100

0246810

07 08 09 10 11 12 13 14Lhs: Share of other financial institutionsRhs:Reporting dealersOther financial institutions Non-financial institutions15http://www.bis.org/publ/qtrpdf/r_qt1509_charts.pdfBIS Quarterly Review, September 2015

BIS Quarterly Review, September 2015A15OTC commodity derivativesGraph D.6

Notional principal, by instrument1Per centNotional principal, by commodity1USD bnGross market value, by commodity1USD trnFurther information on the BIS derivatives statistics is available at www.bis.org/statistics/derstats.htm.1 At half-year end (end-June and end-December). Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date.

Credit default swaps1Graph D.7

Notional principal

Notional principal with central counterparties (CCPs)Per centImpact of nettingPer centUSD trnUSD trnPer centUSD trnFurther information on the BIS derivatives statistics is available at www.bis.org/statistics/derstats.htm.1 At half-year end (end-June and end-December). Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing on the reference date.

07 08 09 10 11 12 13 14

Forwards and swaps Options

03691207 08 09 10 11 1213 14

Other commodities GoldOther precious metals

0.00.51.01.52.007 08 09 10 11 12 13 14

Other commodities GoldOther precious metals

05101520

015304560

07 08 09 10 11 12 13 14Lhs:Gross market value/notional Rhs:Single-name notionalMulti-name notional

010203040

0.01.53.04.56.020102011 2012 20132014

Lhs: CCPs/totalRhs:Single-name notional Multi-name notional

1015202530

0.00.40.81.21.620102011 2012 2013 2014

Lhs: Net/gross market valuesRhs:Gross market values Net market values1007550250


A16BIS Quarterly Review, September 2015Concentration in global OTC derivatives marketsHerfindahl index1Graph D.8

Foreign exchange derivatives2Interest rate swapsEquity-linked options

Further information on the BIS derivatives statistics is available at www.bis.org/statistics/derstats.htm.CAD = Canadian dollar; CHF = Swiss franc; EUR = euro; GBP = pound sterling; JPY = Japanese yen; SEK = Swedish krona; USD = US dollar. JP = Japan; US = United States.1 The index ranges from 0 to 10,000, where a lower number indicates that there are many dealers with similar market shares (as measured by notional principal) and a higher number indicates that the market is dominated by a few reporting dealers. 2 Foreign exchange forwards, foreign exchange swaps and currency swaps.

4006008001,000

07 08 09 10USD EUR GBP

11 12 13 14JPYSEKCHF CAD

4008501,3001,750

07 08 09 10USD EUR GBP

11 12 13 14JPYSEKCHF CAD

4002,3004,2006,10007 08 09 10 11 12 13

14Other AsianUS JPEuropeLatin America17http://www.bis.org/publ/qtrpdf/r_qt1509_charts.pdf

BIS Quarterly Review, September 2015

A18BIS Quarterly Review, September 2015Global bank credit to the non-bank sector, by residence of borrowerBanks cross-border credit plus local credit in all currencies1Graph E.2

Further information on the BIS global liquidity indicators is available at www.bis.org/statistics/gli.htm.1 Cross-border claims of LBS reporting banks plus local claims of all banks. Local claims are from national financial accounts and include credit extended by the central bank to the government. 2 Sample of 52 countries. 3 Amounts outstanding at quarter-end. Amounts denominated in currencies other than the US dollar are converted to US dollars at the exchange rate prevailing at end-March 2015.

Sources: IMF, International Financial Statistics; BIS locational banking statistics; BIS calculations.

0

241201 03 05 07 09 11 13 15

05

241201 03 05 07 09 11 13 15

05

255075100012241015200122410152024120122401 03 05 07 09 11 13 15

06121824

502502550

01 03 05 07 09 11 13 15Amounts outstanding3 (lhs):Cross-border credit Local credit

0.00.81.62.43.2

402002040

01 03 05 07 09 11 13 15Annual change (rhs): Cross-border credit Local credit

0.00.30.60.91.2

40200204001 03 05 07 09 11 13 15All countries2United StatesEuro areaUSD trnPer centUSD trnPer centUSD trnPer cent

Emerging AsiaLatin AmericaEmerging EuropeUSD trnPer centUSD trnPer centUSD trnPer cent


BIS Quarterly Review, September 2015A19Global credit to the non-financial sector, by currencyGraph E.3

Amounts outstanding1 (USD trn)Annual change (per cent)

Credit denominated in US dollars (USD)

00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15Credit denominated in euros (EUR)

00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15Credit denominated in Japanese yen (JPY)Further information on the BIS global liquidity indicators is available at www.bis.org/statistics/gli.htm.

1 Amounts outstanding at quarter-end. Amounts denominated in currencies other than USD are converted to USD at the exchange rate prevailing at end-March 2015. 2 Credit to non-financial borrowers residing in the United States/euro area/Japan. National financialaccounts are adjusted using BIS banking and securities statistics to exclude credit denominated in non-local currencies. 3 Excluding debtsecurities issued by special purpose vehicles and other financial entities controlled by non-financial parents. EUR-denominated debt securities exclude those issued by institutions of the European Union. 4 Loans by LBS reporting banks to non-bank borrowers, including non-bank financial entities, comprises cross-border plus local loans. For countries that are not LBS reporting countries, local loans in USD/EUR/JPY are estimated as follows: for China, local loans in foreign currencies are from national data and assumed to be composed of 80% USD, 10% EUR and 10% JPY; for other non-reporting countries, local loans to non-banks are set equal to LBS reporting banks cross-border loans to banks in the country (denominated in USD/EUR/JPY), on the assumption that these funds are on-lent to non-banks.

Sources: IMF, International Financial Statistics; Datastream; BIS debt securities statistics; BIS locational banking statistics.0122436483015015300103050709113015015302014 2015010203040

301501530010305070911

3015015302014 2015

01020304000 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15

Credit to residents2 Of which:Credit to government

Debt securities3 Loans4

Credit to non-residents: Debt securities3Loans4Credit to non-residents:301501530010305070911

3015015302014 2015

Credit to residents219http://www.bis.org/publ/qtrpdf/r_qt1509_charts.pdfBIS Quarterly Review, September 2015

A20BIS Quarterly Review, September 2015FStatistics on total credit to the non-financial sector

Total credit to the non-financial sector (core debt)As a percentage of GDP

Euro area: aggregate and major countriesEuro area: other countriesGraph F.1

Other European countriesMajor advanced economiesEmerging AsiaOther emerging AsiaLatin AmericaOther emerging market economiesFurther information on the BIS credit statistics is available at www.bis.org/statistics/totcredit.htm.

16020024028005

07Euro area

09Germany11

13France

15Italy

20024028032005

07Belgium

09Netherlands11

13Spain15

20022525027530005

07Sweden

09Switzerland11

13United Kingdom15

1201315United States1802403003600507Australia09Canada11Japan

1201802403000507

09Hong Kong SAR1113

15SingaporeChinaKorea

40801201600507

0911IndonesiaMalaysia13

15ThailandIndia

30609012005

07Argentina

09Brazil111315

Mexico

30609012005

07Poland Russia

09Saudi Arabia South Africa11

13Turkey1520http://www.bis.org/publ/qtrpdf/r_qt1509_charts.pdfBIS Quarterly Review, September 2015


Total credit to the private non-financial sector (core debt)As a percentage of GDP



9012015018005

07Euro area

09Germany11

13France

15Italy

15017520022505

07Belgium

09Netherlands11

13Spain15

15018021024005

07Sweden

09Switzerland11

13United Kingdom15


601201802400507

09Hong Kong SAR1113


040801200507


15ThailandIndia

020406005

07Argentina

09Brazil

11Mexico1315

2040608005

07Poland Russia




Bank credit to the private non-financial sector (core debt)As a percentage of GDP



6070809010005

07Euro area

09Germany11

13France

15Italy

507510012515005

07Belgium

09Netherlands11

13Spain15

8010012014016005

07Sweden

09Switzerland11

13United Kingdom15


40801201602000507

09Hong Kong SAR1113


03060901200507


15ThailandIndia

01530456005

07Argentina

09Brazil

11Mexico1315

153045607505

07Poland Russia



BIS Quarterly Review, September 2015A23Total credit to households (core debt)As a percentage of GDPGraph F.4

Euro area: aggregate and major countriesEuro area: other countries


3040506005

07Euro area

09Germany11

13France

15Italy

40608010005

07Belgium

09Netherlands11

13Spain15

40608010012005

07Sweden

09Switzerland11

13United Kingdom15


0204060800507

09Hong Kong SAR1113


0204060800507


15ThailandIndia

051015202505

07Argentina

09Brazil

11Mexico1315

01020304005

07Poland Russia




Total credit to non-financial corporations (core debt)As a percentage of GDP



40608010012005

07Euro area

09Germany11

13France

15Italy

9010512013515005

07Belgium

09Netherlands11

13Spain15

507510012515005

07Sweden

09Switzerland11

13United Kingdom15


501001502000507

09Hong Kong SAR1113


102540550507

09Indonesia

11Malaysia13

15ThailandIndia

015304505

07Argentina

09Brazil

11Mexico1315

015304505

07Poland Russia




Total credit to the government sector at market value (core debt)1As a percentage of GDP


Other European countriesMajor advanced economiesEmerging AsiaOther emerging market economiesFurther information on the BIS credit statistics is available at www.bis.org/statistics/totcredit.htm.

1 Consolidated data for the general government sector.

507510012515005

07Euro area

09Germany11

13France

15Italy

25507510012505

07Belgium

09Netherlands11

13Spain15

2040608010005

07Sweden

09Switzerland11

13United Kingdom15

05010015020005

07Australia

09Canada

11Japan

1315United States

2030405005

07Korea09111315

2030405005

07Poland



Total credit to the government sector at nominal value (core debt)1As a percentage of GDP


Other European countriesMajor advanced economiesEmerging AsiaOther emerging AsiaLatin AmericaOther emerging market economiesFurther information on the BIS credit statistics is available at www.bis.org/statistics/totcredit.htm.1 Consolidated data for the general government sector; central government for Argentina, Indonesia, Malaysia, Mexico, Saudi Arabia and Thailand.

608010012014005

07Euro area

09Germany11

13France

15Italy

2040608010005

07Belgium

09Netherlands11

13Spain15

304560759005

07Sweden

09Switzerland11

13United Kingdom15

05010015020005

07Australia

09Canada

11Japan

1315United States

03060900507

0911Hong Kong SAR

13Singapore15China

204060800507


15ThailandIndia

020406080050709111315

015304560050709111315

ArgentinaBrazilMexicoPolandSaudi ArabiaTurkeyRussiaSouth Africa


BIS Quarterly Review, September 2015A27GDebt service ratios for the private non-financial sector

Debt service ratios of the private non-financial sectorDeviation from country-specific mean; in percentage points1

Euro area: major countriesEuro area: other countriesGraph G.1

Other European countriesOther economiesMajor emerging markets2Emerging Asia2Other emerging markets21 Country-specific means are based on all available data from 1999 onwards. 2 Countries which are using alternative measures of income and interest rates. Further information is available under Data documentation at www.bis.org/statistics/dsr.htm.Further information on the BIS debt service ratio statistics is available at www.bis.org/statistics/dsr.htm.

963036

01France03

0507Germany

09Italy11

13Spain15

61315Portugal420240103Belgium05Finland070911Netherlands

630360103050709111315

420240103050709111315

50510

0103Brazil

0507China

09Russia11

13Turkey15

70714

010305Hong Kong SAR India

0709Indonesia Malaysia11

13Thailand15

0

2

424

01Mexico03

05Poland07

0911South Africa1315DenmarkNorwaySwedenUnited KingdomAustraliaJapanKoreaCanadaUnited States



Debt service ratios of householdsDeviation from country-specific mean; in percentage points1

Euro area: major countriesEuro area: other countriesGraph G.2

Other European countriesOther economiesFurther information on the BIS debt service ratio statistics is available at www.bis.org/statistics/dsr.htm.

1 Country-specific means are based on all available data from 1999 onwards.

42024

01France03

0507Germany

09Italy11

13Spain15

61315Portugal4202

0103Belgium

05Finland07

0911Netherlands

420240103050709111315

642020103050709111315

DenmarkNorwaySwedenUnited KingdomAustraliaJapanKoreaCanadaUnited States



Debt service ratios of non-financial corporationsDeviation from country-specific mean; in percentage points1Euro area: major countriesEuro area: other countriesGraph G.3

Other European countriesOther economiesFurther information on the BIS debt service ratio statistics is available at www.bis.org/statistics/dsr.htm.

1 Country-specific means are based on all available data from 1999 onwards.

201001020

01France03

0507Germany0911

13Spain15Italy

201315Portugal1001020

0103Belgium

05Finland07

0911Netherlands

2010010200103050709111315

2010010200103050709111315

DenmarkNorwaySwedenUnited KingdomAustraliaJapanKoreaCanadaUnited States


A30BIS Quarterly Review, September 2015H Property price statisticsReal residential property pricesCPI-deflated; 2010 = 100Graph H.1


Other European countriesMajor advanced economiesEmerging AsiaOther emerging AsiaLatin AmericaOther emerging market economiesFurther information on the BIS property price statistics is available at www.bis.org/statistics/pp.htm.

809010011005

07Euro area

09Germany11

13France

15Italy

608010012005

07Belgium

0911Netherlands

13Spain15

608010012014005

07Sweden

09Switzerland11

1315United Kingdom

608010012014005

07Australia

09Canada

11Japan13

15United States

50751001251500507

09Hong Kong SAR1113


60801001201400507

09Indonesia11

13Malaysia

15ThailandIndia

40608010012005

07Brazil

09Mexico111315

40608010012005

07Poland

09Russia

1113South Africa


IEffective exchange rate statisticsReal effective exchange ratesCPI-based; 19952005 = 1001Graph I.1


Other European countriesMajor advanced economiesEmerging AsiaOther emerging AsiaLatin AmericaOther emerging market economiesFurther information on the BIS effective exchange rate statistics is available at www.bis.org/statistics/eer.htm.1 An increase indicates an appreciation in the economys currency in real terms against a broad basket of currencies.

809010011012005

07Euro area

09Germany11

13France

15Italy

809010011012005

07Belgium

0911Netherlands

13Spain15

608010012014005

07Sweden

0911United Kingdom

1315Switzerland

608010012014005

07Australia

09Canada

11Japan

1315United States

50751001256080100120

13Malaysia

15Thailand

25507510012505

07Argentina

09Brazil111315

Mexico

507510012515005

07Poland Russia


13TurkeyBIS Quarterly Review, September 2015A311505070911131505070911ChinaHong Kong SARKoreaSingaporeIndiaIndonesia


BIS Quarterly Review, September 2015B1Special features in the BIS Quarterly ReviewMarch 2015The costs of deflations: a historical perspectiveClaudio Borio, Magdalena Erdem, Andrew Filardo & Boris HofmannMarch 2015Oil and debtDietrich Domanski, Jonathan Kearns, Marco Jacopo Lombardi & Hyun Song ShinMarch 2015(Why) Is investment weak?Ryan Banerjee, Jonathan Kearns & Marco LombardiMarch 2015Financial inclusion - issues for central banksAaron Mehrotra & James YetmanMarch 2015Shifting tides - market liquidity and market-making in fixed income instrumentsIngo Fender & Ulf LewrickDecember 2014Currency movements drive reserve compositionRobert N McCauley & Tracy ChanDecember 2014Securitisations: tranching concentrates uncertaintyAdonis Antoniades & Nikola TarashevDecember 2014Bank business modelsRungporn Roengpitya, Nikola Tarashev & Kostas TsatsaronisDecember 2014Non-financial corporations from emerging market economies and capital flowsStefan Avdjiev, Michael Chui& Hyun Song ShinSeptember 2014Asset managers in emerging market economiesKen Miyajima & Ilhyock ShimSeptember 2014Risks related to EME corporate balance sheets: the role of leverage and currency mismatchMichael Chui, Ingo Fender & Vladyslav SushkoSeptember 2014Cross-border bank lending during the taper tantrum: the role of emerging market fundamentalsStefan Avdjiev & Eld TaktsSeptember 2014Residential property price statistics across the globeMichela Scatigna, Robert Szemere & Kostas TsatsaronisMarch 2014Financial structure and growthLeonardo Gambacorta, Jing Yang & Kostas TsatsaronisMarch 2014Forward guidance at the zero lower boundAndrew Filardo & Boris Hofmann

https://youtu.be/vrdk3IGcau8

MUSIC CREDITS: (GOT7)

32http://www.bis.org/publ/qtrpdf/r_qt1509_charts.pdf

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bis quarterly chart pack - september 2015, bank for international settlements

Economy & Finance