Page 85 - Invited Paper Session (IPS) - Volume 2

IPS184 Kimiaki S. et al.
that, while the shares of claims vis-
à-vis the United States held by [Chart 7] Counterparty country and
French and German banks are 27 region composition of foreign claims
percent and 31 percent, (CBS)
respectively, the claims vis-à-vis
the United Kingdom held by
Spanish banks account for 32
percent of their foreign claims.
Third, determining an estimate
of currency composition of
consolidated-based foreign claims
with the use of the LBS and the
9
CBS (Chart 8), U.S. dollar-
denominated claims account for a
large share – making up about 60 Notes: 1. The figures are as of end-March
percent – of the foreign claims held 2018.
by Japanese banks, reflecting the 2. Ultimate risk basis.
3. "Asia and Pacific" and "Latin America
high share of claims held by French and Caribbean" cover only
and German banks. Meanwhile, it developing countries located in
show that the share of residual corresponding regions.
currencies – referred to as “Other” Source: BIS; BOJ.
– is relatively high in the currency [Chart 8] Currency composition of

composition of Spanish banks. foreign claims (LBS, CBS)
These currencies are considered
to be the local currencies of “Latin
America and Carribbean,” which
are the main counterparty
countries of foreign claims held by
Spanish banks. In this regard, from
the point of view of examining
claims denominated in non-local
currencies, euro-denominated
claims are now excluded form the
total claims held by French,
German and Spanish banks. Our Notes: 1. The figures are as of end-March
2018.
findings are that the shares of 2. JPY-denominated claims by German
U.S. dollar-denominated claims banks are included in “Others.”
in their foreign claims are 54 3. “Others” includes unallocated
percent, 63 percent, and 28 currency.
percent, respectively. Source: BIS; BOJ.

Fourth, we examine aspects of U.S. dollar funding. As an application of the

IBS, the differential between U.S. dollar-denominated claims and liabilities is

72 | I S I W S C 2 0 1 9