External business of Monetary Financial Institutions operating in the UK - 2025 Q1

This statistical release covers claims on and liabilities to other countries by UK-resident banks and building societies (monetary financial institutions).
Published on 06 June 2025

Key points

  • Adjusted for exchange rate movements, external liabilities increased by $94.0 billion during 2025 Q1. By region, the largest increase in liabilities was to Developing Countries ($84.7 billion), where the largest increases by country were to Saudi Arabia ($26.2 billion) and China ($24.5 billion).
  • Adjusted for exchange rate movements, external claims increased by $134.2 billion during 2025 Q1. By region, the largest increase in claims was on Developed Countries ($124.6 billion), where the largest increases by country were on the United States ($61.5 billion) and Germany ($31.7 billion).

Table A: Regional breakdown of external claims and liabilities (US$ billions)

Exchange rate adjusted flows

Amounts outstanding

Q3

Q4

Q1

End-Mar 2025

2024

2025

Liabilities to:

Developed Countries

140.0

16.7

-14.6

3,528.5

Offshore Centres

-17.1

17.1

-7.6

692.1

Developing Countries

7.5

-44.0

84.7

603.2

International Organisations & Other

-44.1

22.7

31.5

1,046.5

Total

86.3

12.5

94.0

5,870.3

Claims on:

Developed Countries

60.7

91.8

124.6

4,590.4

Offshore Centres

14.8

18.7

-24.0

513.2

Developing Countries

23.7

-6.3

13.4

511.4

International Organisations & Other

-1.1

34.1

20.2

222.8

Total

98.1

138.3

134.2

5,837.8

Chart 1: Exchange rate adjusted flows of liabilities by counterpart sector and region 2025 Q1 (US$ billions)

Chart 2: Exchange rate adjusted flows of claims by counterpart sector and region 2025 Q1 (US$ billions)

Exchange rate adjusted flows of external liabilities and claims: Developed Countries

Chart 3: Flows of liabilities by country for Developed Countries 2025 Q1 (5 largest increases/decreases) (US$ billions)

Chart 4: Flows of claims by country for Developed Countries 2025 Q1 (5 largest increases/decreases) (US$ billions)

Table B: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Developed Countries - 2025 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United States

1,616.9

50.6

691.1

52.7

925.8

-2.1

France

241.6

8.0

214.5

7.5

27.1

0.5

Ireland

231.7

2.7

67.4

-5.3

164.2

7.9

Spain

46.7

1.9

42.0

3.1

4.8

-1.3

Australia

67.1

1.5

39.2

-2.2

28.0

3.7

Largest decreases

Denmark

7.0

-7.6

1.6

-0.6

5.4

-7.0

Germany

400.6

-10.0

367.4

-10.4

33.2

0.4

Japan

170.1

-12.5

93.6

-21.3

76.5

8.9

Canada

127.4

-16.1

105.6

-16.9

21.8

0.8

Norway

57.5

-18.9

53.2

-19.5

4.3

0.6

Table C: Amounts outstanding and exchange rate adjusted flows of claims by country: Developed Countries - 2025 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United States

1,924.7

61.5

693.8

35.1

1,230.9

26.4

Germany

428.7

31.7

379.0

29.8

49.7

1.9

France

514.6

18.3

443.2

11.8

71.4

6.4

Japan

408.3

12.6

198.2

-17.0

210.1

29.5

Canada

304.5

7.1

230.3

-0.4

74.2

7.4

Largest decreases

Australia

72.1

-0.9

37.9

-9.2

34.2

8.3

Spain

37.2

-2.0

22.2

-1.6

15.0

-0.4

Finland

10.2

-2.5

3.6

-2.8

6.7

0.3

Ireland

169.4

-2.8

49.2

2.3

120.2

-5.1

Norway

74.9

-19.2

68.2

-20.0

6.8

0.8

Exchange rate adjusted flows of external liabilities and claims: Offshore Centres

Chart 5: Flows of liabilities by country for Offshore Centres 2025 Q1 (5 largest increases/decreases) (US$ billions)

Chart 6: Flows of claims by country for Offshore Centres 2025 Q1 (5 largest increases/decreases) (US$ billions)

Table D: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Offshore Centres - 2025 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Jersey

186.6

18.1

150.1

13.1

36.5

5.0

Bahrain

5.7

0.6

3.9

0.4

1.8

0.2

Barbados

15.0

0.5

14.7

0.4

0.4

0.1

Macao

2.4

0.3

2.3

0.3

0.1

0.0

Lebanon

1.8

0.2

1.0

0.1

0.8

0.1

Largest decreases

Singapore

96.5

-1.1

48.7

-4.7

47.9

3.6

Bermuda

15.5

-1.3

5.4

-0.9

10.1

-0.4

Hong Kong

132.2

-4.8

72.2

-6.8

60.1

2.0

Cayman Islands

125.5

-5.8

13.3

-3.3

112.2

-2.5

Guernsey

57.4

-12.8

44.0

-11.9

13.4

-0.8

Table E: Amounts outstanding and exchange rate adjusted flows of claims by country: Offshore Centres - 2025 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Guernsey

24.6

1.1

1.2

0.2

23.4

1.0

Bahrain

8.7

0.2

7.7

0.9

1.0

-0.7

No other increases greater than $0.1bn

Largest decreases

Mauritius

3.8

-0.6

1.2

-0.1

2.6

-0.6

Curacao

7.9

-1.1

7.1

-0.6

0.8

-0.5

Jersey

94.3

-1.3

11.7

-2.3

82.6

1.0

Singapore

93.1

-6.1

53.4

-4.3

39.7

-1.8

Hong Kong

86.8

-14.6

21.8

-12.6

65.1

-2.0

Exchange rate adjusted flows of external liabilities and claims: Developing Countries

Chart 7: Flows of liabilities by country for Developing Countries 2025 Q1 (5 largest increases/decreases) (US$ billions)

Chart 8: Flows of claims by country for Developing Countries 2025 Q1 (5 largest increases/decreases) (US$ billions)

Table F: Amounts outstanding and exchange rate adjusted flows of liabilities by country: Developing Countries - 2025 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

Saudi Arabia

73.9

26.2

51.1

19.9

22.8

6.3

China

87.4

24.5

77.2

22.7

10.2

1.8

United Arab Emirates

74.1

7.0

38.9

5.0

35.2

2.0

Mexico

16.1

4.7

11.6

4.5

4.5

0.2

Qatar

40.8

4.2

9.8

-0.3

31.0

4.5

Largest decreases

Jordan

3.4

-0.5

2.3

-0.5

1.0

0.0

Philippines

1.9

-0.8

1.0

-0.6

0.9

-0.2

Hungary

4.3

-0.9

0.4

-0.2

3.8

-0.7

Israel

13.3

-1.2

7.8

-1.5

5.5

0.4

Brazil

7.6

-5.8

5.4

-4.9

2.2

-0.8

Table G: Amounts outstanding and exchange rate adjusted flows of claims by country: Developing Countries - 2025 Q1 (US$ billions)

Total

DTC

Non-DTC

Amounts outstanding

Flow

Amounts outstanding

Flow

Amounts outstanding

Flow

Largest increases

United Arab Emirates

91.1

8.0

44.7

4.0

46.3

4.1

South Africa

13.9

3.1

7.6

0.9

6.3

2.2

Taiwan

11.9

3.1

5.7

1.6

6.2

1.5

Turkey

31.7

2.8

16.1

-0.1

15.6

2.9

Thailand

3.1

1.6

1.9

1.4

1.1

0.2

Largest decreases

Pakistan

0.7

-0.6

0.0

-0.5

0.7

0.0

Serbia

-0.1

-0.8

0.0

0.0

-0.1

-0.8

Nigeria

20.2

-0.8

16.6

-0.5

3.6

-0.3

China

40.0

-3.8

28.5

-2.7

11.5

-1.1

Brazil

41.9

-6.1

18.5

-4.7

23.4

-1.4

Queries

If you have any comments or queries about this data release, please email dsd_ibs@bankofengland.co.uk

Next release date: 5 September 2025

More information

Further data are available in Tables C3.1, C3.2, C3.3 and C3.4 of our latest Bankstats tables.

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