BIS statistics show surge in emerging market claims

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Cross-border claims on emerging markets experienced a record pace of growth in the first quarter of 2013, according to statistics published yesterday in the Bank for International Settlements' (BIS) Quarterly Review.

Although overall cross-border claims are largely unchanged, a reduction in claims on advanced economies was offset by a rapid increase in interbank credit to emerging markets, with 85% of the funds going to China, Brazil and Russia. This pushed emerging markets' share of funding as

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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