02Jun/BIS Quarterly Review, June 2014

BIS Quarterly Review, June 2014

2 June 2014
Note about the Quarterly Review June issue
The BIS has decided to discontinue the June issue of the Quarterly Review in its current format, owing to its close proximity to the Annual Report.
This issue now contains only information on BIS statistics, notably the statistical annexes; relevant material about financial developments will be included in the Annual Report.
The next full issue of the Quarterly Review will be published in September 2014.

International banking and financial market developments

Highlights of the BIS international statistics<

The cross-border claims of BIS reporting banks contracted for a seventh consecutive quarter between end-September and end-December 2013. Nevertheless, the pace of decline was slower than in the preceding two quarters. Claims on banking offices as well as non-bank entities fell. Euro-denominated claims contracted substantially. By contrast, cross-border lending in US dollars and in Japanese yen expanded. Boosted by strong growth in lending to China, cross-border claims on emerging Asia continued their steady expansion.

OTC derivatives markets continued to expand in the second half of 2013. Increases in notional amounts were driven by interest rate derivatives, especially contracts with a medium- to long-term maturity. In credit default swap (CDS) markets, central clearing and netting made further inroads.