Page 88 - Invited Paper Session (IPS) - Volume 2

IPS184 Kimiaki S. et al.

1 The original paper is published as Saito, Hiyama and Shiotani (2018) "International
Comparison of the BIS International Banking Statistics: Estimates of the Positions Excluding
Trustee Business," Bank of Japan Review Series, 18-E-2
2 For prior revisions of the IBS, please see the research papers and reviews below.
Bank of Japan Financial Markets Department (1999) "International Financial Markets as Viewed
from BIS Statistics: Changes in the International Flow of Funds in the 1990s"
Nakahata, Kouda and Hishikawa (2002) "BIS Kokusai Yoshin Toukei no Tokuchouten to
Minaoshi ni Muketa Torikumi" (Highlights of the BIS international banking statistics and
Efforts for Enhancements) <Available only in Japanese>, Bank of Japan Market Review Series,
02-J-2
Hirano, Hayakawa, Saitou and Shigemi (2003) "Arata na BIS Kokusai Yoshin Toukei no Gaiyou-
-Yori Takakuteki na Country Risk no Haaku ni Muketa Kokusaiteki na Torikumi--" (Highlights
of the New BIS international banking statistics -worldwide efforts for capturing country risks
from various aspects-) <Available only in Japanese> Bank of Japan Market Review Series, 03-
J-8
Inoue, Yoshizaki, Sasamoto and Shiotani (2017) "Enhancements to the BIS International
Banking Statistics and Highlights of the Results of the Statistics in Japan," Bank of Japan
Review Series, 17-E-1
3 Please see here for the global results of the IBS with associated details.
(https://www.bis.org/statistics/about_banking_stats.htm)
4 Please see here for the IBS in Japan with associated details.
(http://www.boj.or.jp/en/statistics/bis/ibs/index.htm/)
5 With regard to the LBS and the CBS, reporting standards for the statistics are indicated in the
reporting guidelines for BIS international banking statistics. While reporting of banking-and-
trust-account-based figures is encouraged for the LBS, reporting practices vary across
reporting countries.
6 In principle, the reporting banks of the IBS in Japan are holders of Japan Offshore Market
(JOM) accounts among the banks located in Japan.
7 Since the trust-account-based figures estimated in this paper include banking-account-
based positions of trust banks, there is an upward bias in the estimates of trust-account-based
positions. In other words, there is a downward bias in those of the banking-account-based
positions. These points should be considered for the analysis presented in this paper.
8 Attention should therefore be given when carrying out international comparative analysis on
the level of external claims or the differential between the external claims and liabilities. On
the other hand, the impacts of their difference on the results are thought to be small in the
case of a comparison among the levels of their external liabilities.
9 It is possible to estimate the currency composition of consolidated-based foreign claims by
merging the LBS and the CBS. For estimation procedures, please see the following paper.
McGuire, P. and G. von Peter (2009) "The US dollar shortage in global banking and the
international policy response," BIS Working Papers, No. 291
10 It should be noted that the banking-account-based differential of international claims and
liabilities is not all funded by FX swaps and currency swaps. It rather broadly indicates the
amount of cross-currency funding.
11 In this estimation, the differentials between international claims and liabilities vis-à-vis each
of banks and non-banks are used as a proxy variable. The ratios of (1) the differential between
the U.S. dollar-denominated international claims and liabilities, relative to (2) the U.S. dollar-
denominated international claims are then determined. For details, please see the following
paper. IMF (2018) "A Bumpy Road Ahead," Global Financial Stability Report April 2018
12 Please see "Financial System Report" for the evaluation on Japanese banks.
(http://www.boj.or.jp/en/research/brp/fsr/index.htm/

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