Chapter

Appendix III: Statistical Tables

Author(s):
International Monetary Fund
Published Date:
July 1982
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Table 28.Capital-Asset Ratios of Banks in Major Capital Market Countries, 1977–811(In per cent)
19771978197919801981
Canada23.403.273.162.983.463
France42.362.082.432.221.99
Germany, Federal Republic of53.413.323.313.2763.266
Japan75.285.125.135.285.25
Switzerland8
Largest 5 banks6.096.206.116.185.73
All banks5.595.685.635.665.35
United Kingdom
Largest 4 banks95.906.306.105.805.20
All banks105.205.205.105.004.50
United States
Largest 10 banks114.174.063.934.014.19
Largest 25 banks114.524.414.294.364.53
Large banks with foreign offices124.584.474.494.54
Source: Fund staff calculations based on data from official sources, as indicated in footnotes.

Given the problems of consistency across banks and over time in the accounting of bank assets and capital, aggregate figures such as the ones in this table must be interpreted with caution.

Ratio of equity plus accumulated appropriations for losses (beginning with 1981, appropriations for contingencies) to total assets (Bank of Canada Review).

The changeover to consolidated reporting from November 1, 1981 had the statistical effect of increasing the aggregate capital-asset ratio by about 7 per cent.

Ratio of reserves plus capital to total assets (Commission de Controle des Banques, Rapport).

Ratio of capital including published reserves to total assets (Deutsche Bundesbank, Monthly Report).

Data provided by the Deutsche Bundesbank indicate a slight increase in the capital-asset ratio of the ten largest banks in both 1980 and 1981.

Ratio of reserves for possible loan losses, specified reserves, share capital, legal reserves plus surplus to total assets (Bank of Japan, Economics Statistics Monthly).

Ratio of capital plus reserves to total assets (Swiss National Bank, Monthly Report).

Ratio of share capital and reserves, plus minority interests, to total assets (Bank of England).

Ratio of capital and other funds (sterling and other currency liabilities) to total assets (Bank of England). Note that these figures exclude U.K. branches of foreign banks, which normally have little capital in the United Kingdom.

Ratio of primary capital to total assets (Comptroller of the Currency).

Banks with assets of $100 million or over—in 1981 there were 190 such banks (Board of Governors of Federal Reserve System, Federal Reserve Bulletin).

Source: Fund staff calculations based on data from official sources, as indicated in footnotes.

Given the problems of consistency across banks and over time in the accounting of bank assets and capital, aggregate figures such as the ones in this table must be interpreted with caution.

Ratio of equity plus accumulated appropriations for losses (beginning with 1981, appropriations for contingencies) to total assets (Bank of Canada Review).

The changeover to consolidated reporting from November 1, 1981 had the statistical effect of increasing the aggregate capital-asset ratio by about 7 per cent.

Ratio of reserves plus capital to total assets (Commission de Controle des Banques, Rapport).

Ratio of capital including published reserves to total assets (Deutsche Bundesbank, Monthly Report).

Data provided by the Deutsche Bundesbank indicate a slight increase in the capital-asset ratio of the ten largest banks in both 1980 and 1981.

Ratio of reserves for possible loan losses, specified reserves, share capital, legal reserves plus surplus to total assets (Bank of Japan, Economics Statistics Monthly).

Ratio of capital plus reserves to total assets (Swiss National Bank, Monthly Report).

Ratio of share capital and reserves, plus minority interests, to total assets (Bank of England).

Ratio of capital and other funds (sterling and other currency liabilities) to total assets (Bank of England). Note that these figures exclude U.K. branches of foreign banks, which normally have little capital in the United Kingdom.

Ratio of primary capital to total assets (Comptroller of the Currency).

Banks with assets of $100 million or over—in 1981 there were 190 such banks (Board of Governors of Federal Reserve System, Federal Reserve Bulletin).

Table 29.Current Account Positions and Private Market Financing by Principal Groups of Countries, 1973–81(In billions of U.S. dollars)
197319741975197619771978197919801981
1. All industrial countries
Current account position18–1418–3–630–10–45–4
Borrowing through private markets19272450595792116127
Banking1622103139387096100
Bonds3514192019222027
Medium-term credit commitments1218691334243987
2. Seven largest industrial countries
Current account position13–52277343–1616
Borrowing in bond markets348131312141318
Medium-term credit commitments91325723132371
3. Other industrial countries
Current account position5–9–4–10–13–4–14–29–20
Borrowing in bond markets16677879
Medium-term loan commitments3544611111616
4. Oil exporting developing countries
Current account position76835403137011571
Borrowing through private markets133891015764
Medium-term credit commitments3133610855
5. Non-oil developing countries
Current account position–12–37–47–32–29–39–59–86–102
Borrowing through private markets111616231829435154
Banking101515211525404950
Bonds111234324
Medium-term credit commitments599131327423243
6. Centrally planned economies2
Current account position–2–2–10–8–4–6–2–1–5
Borrowing through private markets1349837745
Medium-term credit commitments113233521
Sources: Bank for International Settlements; Organization for Economic Cooperation and Development; International Monetary Fund, World Economic Outlook, Occasional Paper No. 9 (April 1982); and Fund staff estimates.

Almost all borrowing was from banks.

Excludes Fund members from Eastern Europe except Hungary, which became a member in mid-1982.

Sources: Bank for International Settlements; Organization for Economic Cooperation and Development; International Monetary Fund, World Economic Outlook, Occasional Paper No. 9 (April 1982); and Fund staff estimates.

Almost all borrowing was from banks.

Excludes Fund members from Eastern Europe except Hungary, which became a member in mid-1982.

Table 30.External Claims of Banks in BIS Reporting Area by Country of Borrower, 1978–811(In billions of U.S. dollars)
Dec.1978Dec.1979Dec.1980Dec.1981
Reporting area2232.3299.8381.3455.4
Reporting area (gross)466.9588.3704.5819.9
Offshore centers123.5157.5188.7237.5
Less interbank deposits–358.1–446.0–511.9–602.0
Other industrial countries40.045.953.059.5
Australia4.44.86.08.0
Finland5.15.76.77.0
Norway8.59.310.510.4
Spain12.715.518.221.8
Other9.310.611.612.3
Centrally planned economies347.354.456.757.9
Czechoslovakia2.02.83.53.2
German Democratic Republic6.27.79.510.1
Hungary6.47.47.47.5
Poland11.715.015.114.7
U.S.S.R.12.812.913.415.9
Other8.28.67.86.5
Oil exporting countries53.060.065.366.7
Algeria5.77.17.46.9
Indonesia4.54.24.34.6
Nigeria1.82.53.44.7
Venezuela12.818.621.322.3
Middle East22.122.523.623.3
High absorbers15.314.214.814.1
Low absorbers6.88.38.89.2
Other6.15.15.34.9
Non-oil developing countries148.6188.0233.9277.6
Western Hemisphere80.8103.9131.5161.8
Argentina6.713.118.922.9
Brazil31.736.943.349.7
Chile2.74.56.79.6
Colombia2.13.54.34.9
Ecuador2.43.03.64.1
Mexico23.230.741.055.3
Peru3.43.63.94.3
Other8.68.69.811.0
Middle East6.58.19.811.5
Egypt1.62.03.13.9
Israel3.84.64.75.7
Other1.11.52.01.9
Asia22.530.437.942.6
China, People’s Republic of0.92.12.21.8
India0.70.90.91.1
Korea6.910.314.016.9
Malaysia1.51.92.33.3
Philippines4.05.47.07.2
Thailand2.73.03.23.3
Other5.86.88.39.0
Africa19.621.523.527.5
Ivory Coast1.42.12.72.7
Morocco2.22.83.03.3
South Africa7.26.46.89.9
Other8.810.211.011.6
Europe19.224.131.234.2
Greece4.95.47.39.0
Portugal3.03.95.27.1
Romania2.54.05.34.8
Turkey3.02.93.33.1
Yugoslavia5.67.59.69.7
Other0.20.40.50.5
Unallocated and international organizations13.816.919.822.9
Total535.0665.0810.0940.0
Memorandum items:
Total gross claims, BIS893.11,110.71,323.11,542.0
Gross claims of nonreporting banks in certain offshore centers4107.0135.0175.0236.0
Total gross claims, IFS1,134.31,433.01,741.12,025.0
Source: Bank for International Settlements.

The BIS reporting area comprises the Group of Ten countries; Austria, Denmark, Ireland, and Switzerland; and the offshore branches of U.S. banks in the Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore.

Net of double counting due to redepositing among reporting banks.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Claims of non-U.S. banks in the Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore and claims of all banks in Bahrain and the Netherlands Antilles.

Source: Bank for International Settlements.

The BIS reporting area comprises the Group of Ten countries; Austria, Denmark, Ireland, and Switzerland; and the offshore branches of U.S. banks in the Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore.

Net of double counting due to redepositing among reporting banks.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Claims of non-U.S. banks in the Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore and claims of all banks in Bahrain and the Netherlands Antilles.

Table 31.External Liabilities of Banks in BIS Reporting Area by Country of Depositor, 1978–811(In billions of U.S. dollars)
Dec.1978Dec.1979Dec.1980Dec.1981
Reporting area2309.1372.2465.4584.9
Reporting area (gross)533.5686.4824.0948.4
Offshore centers96.9140.2165.9219.5
Less interbank deposits–321.3–454.4–524.5–583.0
Other industrial countries25.833.034.136.2
Australia1.11.31.31.1
Finland1.62.12.72.8
Norway3.04.05.06.1
Spain13.117.517.617.5
Other7.08.17.58.7
Centrally planned economies311.015.615.714.8
Czechoslovakia0.61.01.30.8
German Democratic Republic1.21.92.02.1
Hungary0.91.21.40.9
Poland0.81.10.60.7
U.S.S.R.5.98.68.68.4
Other1.61.81.81.9
Oil exporting countries80.3117.6156.3153.9
Algeria2.73.44.64.2
Indonesia2.74.36.76.1
Nigeria0.72.25.61.8
Venezuela9.513.415.818.5
Middle East57.181.3108.9111.9
High absorbers23.136.752.038.9
Low absorbers34.044.656.973.0
Other7.613.014.711.4
Non-oil developing countries90.7104.2111.1116.1
Western Hemisphere34.639.638.142.1
Argentina4.77.86.66.6
Brazil10.78.14.74.8
Chile1.42.23.43.6
Colombia2.03.13.03.6
Ecuador0.70.70.90.8
Mexico6.48.29.412.1
Peru0.81.42.11.6
Other7.98.18.09.0
Middle East13.815.418.419.3
Egypt3.43.85.75.0
Israel6.06.98.29.0
Other4.44.75.15.3
Asia22.326.228.129.4
China, People’s Republic of2.42.72.54.8
India3.13.73.52.7
Korea2.53.13.33.2
Malaysia2.13.23.63.1
Philippines2.22.73.52.9
Thailand1.11.41.11.5
Other8.99.410.611.3
Africa8.511.012.011.7
Ivory Coast0.60.80.70.7
Morocco0.91.00.70.6
South Africa1.01.42.01.6
Other6.07.88.68.8
Europe11.512.114.513.6
Greece4.64.75.95.4
Portugal1.72.42.51.8
Romania0.20.30.30.3
Turkey0.80.91.21.6
Yugoslavia2.82.02.72.6
Other1.41.82.11.9
Unallocated and international organizations18.122.427.434.1
Total535.0665.0810.0940.0
Source: Bank for International Settlements.

The BIS reporting area comprises the Group of Ten countries; Austria, Denmark, Ireland, and Switzerland; and the offshore branches of U.S. banks in the Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore.

Net of double counting owing to redepositing among reporting banks.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Source: Bank for International Settlements.

The BIS reporting area comprises the Group of Ten countries; Austria, Denmark, Ireland, and Switzerland; and the offshore branches of U.S. banks in the Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore.

Net of double counting owing to redepositing among reporting banks.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Table 32.Net External Position of Banks in BIS Reporting Area by Country of Borrower or Depositor, 1978–811(In billions of U.S. dollars)
Dec. 1978Dec. 1979Dec. 1980Dec. 1981
Reporting area2–76.8–72.4–84.1–129.5
Reporting area (gross)–66.6–98.1–119.5–128.5
Offshore centers26.617.322.818.0
Less interbank deposits–36.88.412.6–19.0
Other industrial countries14.212.918.923.3
Australia3.33.54.76.9
Finland3.53.64.04.2
Norway5.55.35.54.3
Spain–0.4–2.00.64.4
Other2.32.54.13.5
Centrally planned economies336.338.841.043.1
Czechoslovakia1.41.82.22.3
German Democratic Republic5.05.87.58.0
Hungary5.56.26.06.6
Poland10.913.914.514.0
U.S.S.R.6.94.34.87.5
Other6.66.86.04.6
Oil exporting countries–27.3–57.6–91.0–87.2
Algeria3.03.72.82.8
Indonesia1.8–0.1–2.4–1.5
Nigeria1.10.3–2.23.0
Venezuela3.35.25.53.7
Middle East–35.0–58.8–85.3–88.6
High absorbers–7.8–22.5–37.2–24.8
Low absorbers–27.2–36.3–48.1–63.8
Other–1.5–7.9–9.4–6.6
Non-oil developing countries57.983.8122.8161.5
Western Hemisphere46.264.393.4119.7
Argentina2.05.312.316.3
Brazil21.028.838.644.9
Chile1.32.33.36.0
Colombia0.10.41.31.3
Ecuador1.72.32.73.4
Mexico16.822.531.643.1
Peru2.62.21.82.7
Other0.70.51.82.0
Middle East–7.3–7.3–8.6–7.8
Egypt–1.8–1.8–2.0–1.1
Israel–2.2–2.3–3.5–3.3
Other–3.3–3.2–3.1–3.4
Asia0.24.29.813.2
China, People’s Republic of–7.5–0.6–0.3–3.0
India–2.4–2.8–2.6–1.6
Korea4.47.210.713.8
Malaysia–0.6–1.3–1.30.2
Philippines1.82.73.54.3
Thailand1.61.62.11.7
Other–3.1–2.6–2.3–2.3
Africa11.110.511.515.8
Ivory Coast0.81.32.02.1
Morocco1.31.82.32.6
South Africa6.25.04.88.4
Other2.82.42.42.7
Europe7.711.916.720.6
Greece0.30.71.43.6
Portugal1.31.52.75.4
Romania2.33.75.04.5
Turkey2.22.02.11.6
Yugoslavia2.85.57.17.1
Other–1.2–1.4–1.6–1.6
Unallocated and international organizations–4.3–5.5–7.6–11.2
Source: Bank for International Settlements.

The BIS reporting area comprises the Group of Ten countries; Austria, Denmark, Ireland, and Switzerland; and the offshore branches of U.S. banks in the Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore.

Net of double counting owing to redepositing among reporting banks.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Source: Bank for International Settlements.

The BIS reporting area comprises the Group of Ten countries; Austria, Denmark, Ireland, and Switzerland; and the offshore branches of U.S. banks in the Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore.

Net of double counting owing to redepositing among reporting banks.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Table 33.Gross Foreign Claims, Liabilities, and Net Position of Banks in European Reporting Countries, 19811(In billions of U.S. dollars)
Exchange Rate Adjusted Changes During 1981Amounts Outstanding December 1981
Foreign currencyDomestic currencyTotalForeign currencyDomestic currencyTotal
Claims114.521.5136.0840.0152.3992.3
Belgium8.78.758.82.761.5
Luxembourg6.00.36.387.11.388.4
France5.24.19.3120.423.1143.5
Germany, Federal Republic of3.06.19.123.851.174.9
Italy6.66.635.60.736.3
Netherlands5.02.57.553.312.365.6
Switzerland2.62.55.131.431.763.1
United Kingdom74.75.480.1401.223.2424.4
Other22.70.73.428.46.234.6
Liabilities119.28.3127.5891.5117.21,008.7
Belgium10.9–1.19.865.45.671.0
Luxembourg4.2–0.24.082.40.783.1
France15.1–0.115.0132.36.6138.9
Germany, Federal Republic of1.81.23.024.845.069.8
Italy4.4–0.14.346.82.249.0
Netherlands4.00.74.753.611.364.9
Switzerland0.32.32.631.014.245.2
United Kingdom74.14.979.0413.626.9440.5
Other24.50.75.241.64.746.3
Net position–4.713.28.5–51.535.1–16.4
Belgium–2.21.1–1.1–6.6–2.9–9.5
Luxembourg1.80.52.34.70.65.3
France–9.94.2–5.7–11.916.5–4.6
Germany, Federal Republic of1.24.96.1–1.06.15.1
Italy2.20.12.3–11.2–1.5–12.7
Netherlands1.01.82.8–0.31.00.7
Switzerland2.30.22.50.417.517.9
United Kingdom0.60.51.1–12.4–3.7–16.1
Other2–1.8–1.8–13.21.5–11.7
Source: Bank for International Settlements.

Includes redepositing among reporting banks.

Austria, Denmark, Ireland, and Sweden.

Source: Bank for International Settlements.

Includes redepositing among reporting banks.

Austria, Denmark, Ireland, and Sweden.

Table 34.Gross Foreign Claims of Banks in BIS Reporting Area by Country or Region of Lending Bank, 1978–811(In billions of U.S. dollars)
Dec. 1978Dec. 1979Dec. 1980Dec. 1981
Banks in European reporting area611.4776.0902.9992.3
Foreign currency (Eurocurrency market)502.0639.7751.2840.0
Belgium31.839.752.458.8
Italy22.228.329.735.6
Luxembourg58.379.487.387.1
France80.8100.4118.8120.4
Germany, Federal Republic of20.821.721.523.8
Netherlands36.644.550.853.3
Switzerland31.431.930.131.4
United Kingdom202.8270.0333.6401.2
Other17.823.827.028.4
Domestic currency109.4136.3151.7152.3
France18.123.224.423.1
Germany, Federal Republic of40.347.651.851.1
Switzerland19.327.229.531.7
United Kingdom14.715.522.723.2
Other17.022.823.323.2
Banks in Canada22.325.635.537.9
Banks in Japan33.745.565.784.6
Banks in United States118.8136.3176.8255.4
Branches of U.S. banks in certain offshore centers2106.5127.6141.0171.8
Total gross external claims892.71,111.01,321.91,542.0
Less double counting owing to redepositing among reporting banks–357.7–446.0–511.9–602.0
Total claims net of redepositing535.0665.0810.0940.0
Memorandum item:
Gross external claims of branches of non-U.S. banks in certain offshore centers2 and external claims of all foreign bank branches in Bahrain and the Netherlands Antilles107135175236
Source: Bank for International Settlements.

Includes redepositing among reporting banks.

The Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore.

Source: Bank for International Settlements.

Includes redepositing among reporting banks.

The Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore.

Table 35.Net Foreign Position of Banks in BIS Reporting Area, 1978–811(In billions of U.S. dollars)
Dec. 1978Dec. 1979Dec. 1980Dec. 1981
Total36.7–8.4–12.619.0
Banks in the European reporting area218.6–1.2–25.5–16.4
Foreign currency position–8.8–26.1–49.3–51.5
Belgium–1.7–3.9–5.5–6.6
France2.00.8–2.9–11.9
Germany, Federal Republic of1.9–1.7–2.0–1.0
Italy–5.6–6.9–13.9–11.2
Luxembourg3.83.83.84.7
Netherlands1.0–0.1–1.6–0.3
Sweden–1.1–3.0–4.4–5.7
Switzerland4.51.1–1.80.4
United Kingdom–10.6–12.0–13.1–12.4
Other–3.0–4.2–7.9–6.5
Domestic currency position27.424.923.835.1
France12.516.615.816.5
Germany, Federal Republic of0.1–6.71.16.1
Switzerland12.519.817.517.5
United Kingdom2.8–3.7–5.0–3.7
Other–0.5–1.1–5.6–1.3
Banks in Canada–2.7–7.2–8.1–23.5
Banks in Japan–5.3–5.0–14.5–15.8
Banks in United States27.16.237.578.7
Branches of U.S. banks in certain offshore centers3–1.0–1.2–2.0–4.0
Source: Bank for International Settlements.

A negative sign indicates a net foreign liability position.

Austria, Belgium-Luxembourg, Denmark, France, the Federal Republic of Germany, Ireland, Italy, the Netherlands, Sweden, Switzerland, and the United Kingdom.

The Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore.

Source: Bank for International Settlements.

A negative sign indicates a net foreign liability position.

Austria, Belgium-Luxembourg, Denmark, France, the Federal Republic of Germany, Ireland, Italy, the Netherlands, Sweden, Switzerland, and the United Kingdom.

The Bahamas, the Cayman Islands, Hong Kong, Panama, and Singapore.

Table 36.Foreign Claims of Reporting Banks on Nonbanks in BIS Reporting Area, 1979–81(In billions of U.S. dollars)
Amounts Outstanding DecemberExchange Rate Adjusted Changes–1981
197919801981YearFirst quarterSecond quarterThird quarterFourth quarter
BIS European reporting area72.496.1114.425.85.45.48.56.5
Belgium-Luxembourg3.55.68.02.90.80.70.60.8
France5.57.88.91.60.10.10.80.6
Germany, Fed. Rep.22.130.437.210.23.43.13.40.3
Italy6.110.517.57.00.52.61.42.5
Sweden4.57.47.60.50.6–0.60.5
Switzerland5.46.26.0–0.2–0.60.10.4–0.1
United Kingdom7.38.58.40.50.2–0.90.30.9
Other118.019.720.83.30.40.31.61.0
Canada2.55.77.31.7–0.10.40.41.0
Japan1.710.69.1–1.31.2–0.6–1.5–0.4
United States13.515.820.25.51.90.12.31.2
Total90.2128.2151.031.68.45.39.68.3
Source: Bank for International Settlements.

Austria. Denmark, Ireland, and the Netherlands.

Source: Bank for International Settlements.

Austria. Denmark, Ireland, and the Netherlands.

Table 37.Foreign Liabilities of Reporting Banks to Nonbanks in BIS Reporting Area, 1979–81(In billions of U.S. dollars)
Amounts Outstanding DecemberExchange Rate Adjusted Changes–1981
197919801981YearFirst quarterSecond quarterThird quarterFourth quarter
BIS European reporting area37.851.156.39.72.6–0.62.25.5
Belgium-Luxembourg4.46.27.41.70.8–0.50.50.9
France3.44.24.10.40.10.20.1
Germany, Federal Republic of4.37.07.31.22.2–0.5–0.3–0.2
Italy2.52.62.80.50.2–0.10.10.3
Netherlands3.34.45.11.10.60.5
Switzerland13.715.918.93.7–0.7–0.31.03.7
United Kingdom3.98.28.10.8–0.10.50.4
Other12.32.62.60.40.1–0.30.30.3
Canada1.11.96.74.90.91.01.61.4
Japan0.40.80.90.20.2–0.20.10.1
United States46.856.286.831.26.06.011.28.0
Total86.0110.0150.745.89.76.214.815.1
Source: Bank for International Settlements.

Austria, Denmark, Ireland, and Sweden.

Source: Bank for International Settlements.

Austria, Denmark, Ireland, and Sweden.

Table 38.Share of Claims on Developing Countries and Centrally Planned Economies in Banks’ Net International Claims, 1973–811(In per cent)
197319741975197619771978197919801981
Claims on non-oil developing countries26.427.228.828.828.227.828.328.929.5
Net oil exporters27.07.46.86.56.77.18.0
Major exporters of manufactures312.913.312.813.013.213.613.9
Low-income countries1.10.81.01.11.31.21.1
Other net oil importers4.64.85.25.65.85.85.6
Unallocated3.02.62.41.51.21.00.9
Claims on oil exporting developing countries1.72.85.47.08.59.99.08.17.1
Claims on centrally planned economies45.35.98.38.99.08.88.27.06.2
Memorandum items:
Share of claims on largest borrowers in total claims on non-oil developing countries
Largest 2 (Brazil and Mexico)37.840.636.136.935.735.837.8
Largest 1068.169.566.065.865.967.971.1
Largest 2082.183.081.383.083.384.786.6
Sources: Bank for International Settlements; and Fund staff estimates.

Net of redepositing among banks in the BIS reporting area.

Bolivia, Congo, Ecuador, Egypt, Gabon, Malaysia, Mexico, Peru, Syrian Arab Republic, Trinidad and Tobago, and Tunisia. Excludes the offshore banking center Bahrain included in this category in International Monetary Fund, World Economic Outlook, Occasional Paper No. 9 (April 1982).

Argentina, Brazil, Greece, Israel, Korea, Portugal, South Africa, and Yugoslavia. Excludes the offshore banking centers Hong Kong and Singapore included in this category in International Monetary Fund, World Economic Outlook, Occasional Paper No. 9 (April 1982).

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Sources: Bank for International Settlements; and Fund staff estimates.

Net of redepositing among banks in the BIS reporting area.

Bolivia, Congo, Ecuador, Egypt, Gabon, Malaysia, Mexico, Peru, Syrian Arab Republic, Trinidad and Tobago, and Tunisia. Excludes the offshore banking center Bahrain included in this category in International Monetary Fund, World Economic Outlook, Occasional Paper No. 9 (April 1982).

Argentina, Brazil, Greece, Israel, Korea, Portugal, South Africa, and Yugoslavia. Excludes the offshore banking centers Hong Kong and Singapore included in this category in International Monetary Fund, World Economic Outlook, Occasional Paper No. 9 (April 1982).

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Table 39.External Assets of Banks by Maturity and Undisbursed Credit Commitments, 1978–811(In billions of U.S. dollars)
December 1978December 1979December 1980December 1981
External assetsExternal assetsExternal assetsExternal assets
TotalOf which:up to and including 1yearUndisbursed credit commitmentsTotalOf which:up to and including 1yearUndisbursed credit commitmentsTotalOf which:up to and including 1 yearUndisbursed credit commitmentsTotalOf which: up to and including 1 yearUndisbursed credit commitments
Industrial countries outside the reporting area37.615.68.544.218.39.750.521.715.752.723.317.9
Australia5.52.42.46.62.51.97.32.65.28.03.26.3
Finland5.52.61.66.02.61.87.03.92.16.93.82.4
Norway9.12.51.99.72.82.210.83.72.610.43.83.1
Spain13.25.11.916.97.12.719.78.03.821.58.53.6
Other4.33.00.75.03.31.15.73.62.05.94.02.5
Oil exporting countries51.024.316.860.430.717.764.634.316.161.233.516.7
Algeria7.61.33.39.01.33.89.01.52.98.31.41.9
Indonesia5.82.01.55.82.32.16.32.62.26.42.42.7
Iran3.63.23.25.91.81.35.21.90.82.71.40.4
Nigeria2.30.81.13.51.02.24.51.42.44.81.63.1
Venezuela14.07.63.620.812.74.124.314.33.724.514.74.1
Other17.714.94.115.411.64.215.312.64.114.512.04.5
Non-oil developing countries162.371.949.5214.491.856.3254.9116.159.2269.9124.560.4
Africa21.38.36.823.58.15.824.68.16.424.79.37.1
Ivory Coast1.70.40.42.40.70.43.01.00.42.80.90.6
Morocco2.60.50.63.40.60.33.50.70.33.30.70.4
South Africa8.13.73.07.32.82.77.22.53.18.33.83.5
Zaire1.30.40.21.30.40.21.20.30.11.20.40.3
Other7.63.32.69.13.62.29.73.62.59.13.52.3
Asia24.814.012.535.419.316.344.825.617.648.026.518.7
China, People’s Rep.1.00.81.22.51.33.82.60.94.02.50.74.9
India0.70.30.50.90.40.71.00.50.91.10.51.4
Korea7.54.33.612.06.74.016.710.44.317.910.94.2
Malaysia1.90.90.62.20.80.72.71.01.43.11.00.7
Philippines5.02.53.17.43.92.99.35.42.49.95.72.8
Thailand2.82.10.83.72.40.84.02.41.34.62.71.2
Other5.93.12.76.73.83.48.45.03.28.95.03.5
Europe21.88.96.534.612.29.135.112.17.935.912.87.2
Greece5.52.31.36.22.51.88.43.23.08.63.42.8
Portugal3.21.31.14.11.31.05.62.11.26.72.71.7
Romania2.91.31.24.42.20.85.82.51.15.42.30.8
Turkey3.82.70.93.91.40.74.41.30.64.01.10.4
Yugoslavia6.21.22.08.21.92.010.42.92.010.53.11.4
Other0.20.17.82.92.80.50.20.20.70.20.1
Middle East13.211.02.712.59.43.13.610.42.814.411.32.8
Egypt1.81.11.22.21.31.33.32.01.54.02.71.5
Israel3.92.80.64.63.11.04.83.40.55.03.60.6
Other7.57.10.95.75.00.85.55.00.85.45.00.7
Western Hemisphered81.229.721.0108.442.822.0136.859.924.5146.964.624.6
Argentina7.03.62.513.47.02.919.910.44.023.011.83.2
Brazil32.99.37.438.611.36.745.716.26.446.415.36.2
Chile2.91.21.44.92.01.57.32.91.68.83.71.8
Colombia2.21.31.33.6221.44.62.51.74.72.41.9
Ecuador2.61.30.83.11.40.93.91.81.04.01.90.9
Mexico23.37.44.730.910.76.142.518.86.746.622.07.2
Peru3.61.70.53.81.90.74.12.41.33.92.31.8
Other6.73.92.410.16.31.88.84.91.99.55.21.6
Centrally planned economies247.220.611.154.522.99.256.422.08.754.221.47.0
Czechoslovakia2.11.20.33.01.40.33.51.50.33.31.20.2
German Democratic Republic6.83.11.28.63.71.49.93.81.510.44.21.5
Hungary6.93.70.47.93.80.48.03.40.77.02.50.6
Poland12.44.24.415.86.23.916.25.43.914.54.72.3
U.S.S.R.13.15.44.113.05.02.813.45.61.714.56.82.0
Other5.93.00.76.22.80.45.42.30.64.52.00.4
Total298.1132.485.9373.5163.799.2426.3194.299.7438.0202.6101.9
Source: Bank for International Settlements, The Maturity Distribution of International Bank Lending.

The reporting area for these data is generally broader than that for the data in Tables 30 to 38 in that it includes all foreign branches of U.S. banks and the affiliates in offshore reporting centers of banks in other countries; but the number of banks reporting is somewhat smaller. This series is only available semiannually and has longer lags than the data presented in the quarterly publication of the Bank for International Settlements on international capital markets developments.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Source: Bank for International Settlements, The Maturity Distribution of International Bank Lending.

The reporting area for these data is generally broader than that for the data in Tables 30 to 38 in that it includes all foreign branches of U.S. banks and the affiliates in offshore reporting centers of banks in other countries; but the number of banks reporting is somewhat smaller. This series is only available semiannually and has longer lags than the data presented in the quarterly publication of the Bank for International Settlements on international capital markets developments.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Table 40.Undisbursed Credit Commitments as Per Cent of Outstanding Bank Claims, 1978–811(In per cent)
June 1978June 1979June 1980June 1981
Industrial countries (other than Group of Ten, Austria, Denmark, Ireland, and Switzerland)24.924.628.134.0
Oil exporting countries36.935.828.127.3
Venezuela29.831.320.216.7
Other39.537.832.234.3
Non-oil developing countries29.333.027.222.4
Six largest borrowers27.733.022.216.2
Argentina27.933.019.113.9
Brazil21.030.318.613.4
Korea40.348.932.223.5
Mexico20.028.720.715.5
Philippines55.847.434.128.3
Yugoslavia33.330.023.713.3
Other30.932.933.430.6
Centrally planned economies222.629.717.012.9
All countries28.931.826.023.3
Source: Bank for International Settlements, The Maturity Distribution of International Bank Lending.

June data are presented for each year because the pattern of disbursements has some seasonality and June 1981 is the most recent data for which this information is available.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Source: Bank for International Settlements, The Maturity Distribution of International Bank Lending.

June data are presented for each year because the pattern of disbursements has some seasonality and June 1981 is the most recent data for which this information is available.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Table 41.Short-Term Claims in Per Cent of Outstanding Bank Claims, 1978-June 19811(In per cent)
Dec.1978Dec.1979Dec.1980June 1981
Industrial countries (other than Group of Ten, Austria, Denmark, Ireland, and Switzerland)41.541.443.044.2
Oil exporting countries47.650.853.154.7
Venezuela54.361.158.860.0
Other45.145.549.651.2
Non-oil developing countries44.342.845.546.1
Six largest borrowers34.537.644.444.6
Argentina51.452.252.351.3
Brazil28.329.335.433.0
Korea57.355.862.360.9
Mexico31.834.644.247.2
Philippines50.052.758.157.6
Yugoslavia19.423.127.929.5
Other54.248.447.148.2
Centrally planned economies243.642.039.039.5
All countries44.143.845.546.3
Source: Bank for International Settlements, The Maturity Distribution of International Bank Lending.

Remaining maturity of one year or less.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Source: Bank for International Settlements, The Maturity Distribution of International Bank Lending.

Remaining maturity of one year or less.

Excluding Fund member countries except Hungary, which became a member in mid-1982.

Table 42.Medium-Term International Bank Credit Commitments, 1978–81(In millions of U.S. dollars)
1978197919801981
Industrial countries34,28924,09939,19394,6051
Australia6657311,6933,734
Belgium401,0003,060260
Canada9,6319266,4395,792
Denmark2,3931,2171,5661,625
France2,4852,7871,9223,847
Italy2,9093,3616,4837,095
Spain2,2463,7304,5244,658
Sweden1,8461,4711,3242,470
United Kingdom5,2591,9901,9663,005
United States2,8153,7236,38758,1921
Other4,0003,1633,8293,929
Oil exporting developing countries9,8097,6755,3585,366
Algeria2,0621,800343
Indonesia1,6176959321,101
Iran1,142
Nigeria1,7501,2126681,858
Venezuela1,7923,0352,9371,333
Other1,4469334781,074
Non-oil developing countries26,57142,20432,38544,011
Major exporters of manufactures10,79016,04915,40718,915
Argentina1,2732,1072,3902,864
Brazil5,2106,4985,2797,128
Greece5709451,191941
Korea1,6432,6942,0373,105
Portugal6218117061,756
Yugoslavia7441,6511,832554
Other7291,3431,9722,567
Net oil exporters8,54912,4999,04913,518
Malaysia1,0721971,0831,475
Mexico6,60410,4385,98010,541
Other8731,8641,9861,502
Low-income countries3013,7148762,050
China, People’s Rep.3,070374453
India55501141,043
Other246594388554
Other net oil importers6,9319,9427,0539,570
Chile1,2016839192,305
Colombia859036621,068
Philippines1,8431,7741,2771,141
Turkey2503,171
Romania725280458337
Other2,8273,1313,7374,719
Centrally planned economies3,0904,5902,2081,232
German Dem. Rep.782656397497
Hungary515950550550
poland406861736
U.S.S.R.4003205025
International Investment Bank5001,025
Bulgaria240202
Czechoslovakia230450475
Other17126160
International organizations and unallocated44153877595
Total74,20079,10679,919145,3091
Source: Organization for Economic Cooperation and Development, Financial Statistics Monthly.

Includes $50 billion accounted for by multibillion dollar financing by U.S. companies.

Source: Organization for Economic Cooperation and Development, Financial Statistics Monthly.

Includes $50 billion accounted for by multibillion dollar financing by U.S. companies.

Table 43.Terms on Publicized Medium-Term Bank Credit Commitments, 1977-First Quarter 1982(Rates in per cent)
Spreads over LIBOR2
Six-Month Eurodollar Deposit Rate1LowestWeighted averages (Per cent)Maturities
All borrowersOECD countries3CMEA4 countriesOther non-OECD countries5Longest (In years)Average (In years/ months)
1977 I5.6715/1686/8
II5.9415/16106/6
III6.717/8106/5
IV7.375/81.170.841.051.46107/0
1978 I7.685/81.050.820.971.22127/9
II8.505/81.100.800.701.26128/4
III9.251/4–3/80.900.720.741.15128/5
IV12.021/20.870.690.731.03158/11
1979 I10.691/20.870.650.900.95158/9
II10.733/80.760.620.630.87189/3
III12.003/80.730.670.610.76157/9
IV14.561/4–3/80.640.490.570.74159/3
1980 I16.983/8–1/20.670.560.580.78151/28/9
II11.293/8–1/20.690.570.730.84157/8
III12.171/4–1/20.680.541.170.82127/6
IV16.161/4–3/80.750.560.961.03127/8
1981 I16.101/4–3/80.700.540.660.82148/4
II17.061/40.770.470.621.12137/9
III18.431/4–1/20.690.460.620.94157/10
IV14.481/4–3/80.690.460.90157/7
1982 I615.171/4–3/80.640.490.80157/6
Sources: Morgan Guaranty Trust Company, World Financial Markets (for series on Eurodollar rate); and Organization for Economic Cooperation and Development, Financial Market Trends.

Average of month-end prime banks’ bid rates; the London interbank offered rate (LIBOR) commonly used as a basis for Eurodollar lending is generally 0.125 per cent above bid rates.

On loans of $50 million and over with a maturity of at least three years completed or signed during the period; excludes tax-sparing loans.

Excluding Turkey.

Council for Mutual Economic Assistance.

Excluding the People’s Republic of China.

Spreads and maturities data based on January and February only.

Sources: Morgan Guaranty Trust Company, World Financial Markets (for series on Eurodollar rate); and Organization for Economic Cooperation and Development, Financial Market Trends.

Average of month-end prime banks’ bid rates; the London interbank offered rate (LIBOR) commonly used as a basis for Eurodollar lending is generally 0.125 per cent above bid rates.

On loans of $50 million and over with a maturity of at least three years completed or signed during the period; excludes tax-sparing loans.

Excluding Turkey.

Council for Mutual Economic Assistance.

Excluding the People’s Republic of China.

Spreads and maturities data based on January and February only.

Table 44.Claims on and Liabilities to Eastern European Countries by Banks in BIS Reporting Area, 1975–81(In billions of U.S. dollars)
197519761977119771978197919801981
Net claims, all countries15.321.125.129.936.840.544.246.0
Claims21.628.732.938.347.555.959.860.8
Liabilities–6.3–7.6–7.8–8.4–10.7–15.4–15.6–14.8
Albania–0.1–0.1–0.1–0.1
Claims
Liabilities–0.1–0.1–0.1–0.1
Bulgaria1.31.61.92.12.62.41.81.3
Claims1.62.02.32.63.13.12.62.1
Liabilities–0.3–0.4–0.4–0.5–0.5–0.7–0.8–0.8
Czechoslovakia0.50.91.01.41.82.22.4
Claims0.30.91.31.52.02.83.53.2
Liabilities–0.3–0.4–0.4–0.5–0.6–1.0–1.3–0.8
German Dem. Rep.2.03.03.44.05.05.87.58.3
Claims2.63.64.14.96.27.79.510.4
Liabilities–0.6–0.6–0.7–0.9–1.2–1.9–2.0–2.1
Hungary1.52.23.33.75.56.26.06.6
Claims2.23.14.24.86.47.47.47.5
Liabilities–0.7–0.9–0.9–1.1–0.9–1.2–1.4–0.9
Poland3.44.86.48.710.913.914.514.0
Claims3.95.46.89.111.715.015.114.7
Liabilities–0.5–0.6–0.4–0.4–0.8–1.1–0.6–0.7
Romania0.50.41.01.22.33.75.04.5
Claims0.90.71.21.42.54.05.34.8
Liabilities–0.4–0.3–0.2–0.2–0.2–0.3–0.3–0.3
U.S.S.R.4.76.66.47.26.94.34.87.5
Claims7.610.310.611.612.812.913.415.9
Liabilities–2.9–3.7–4.2–4.4–5.9–8.6–8.6–8.4
Residual1.82.21.91.92.22.32.37.9
Claims2.52.82.42.42.72.93.02.5
Liabilities–0.7–0.6–0.5–0.5–0.5–0.6–0.7–0.6
Source: Bank for International Settlements, International Banking Development (quarterly), various issues.

Old series.

Revised series.

Source: Bank for International Settlements, International Banking Development (quarterly), various issues.

Old series.

Revised series.

Table 45.Eastern Europe: Selected Debt Indicators, 1972, 1974, 1976, 1978, and 1980
19721974197619781980
Total, Eastern Europe
Debt in convertible currencies (US$ billions)11.022.248.068.185.9
Proportion owed to BIS reporting banks (in per cent)59.869.868.4
Bank deposits as proportion of total debt (in per cent)31.927.715.815.718.2
Proportion of bank debt falling due within two years (in per cent)54.651.0
Bulgaria
Debt in convertible currencies (US$ billions)1.01.73.24.33.8
Bank deposits as proportion of debt (in per cent)10.020.212.511.621.1
Proportion of debt owed to BIS reporting banks (in per cent)62.572.168.4
Proportion of bank debt falling due within two years (in per cent)60.953.7
Debt as a proportion of exports in convertible currencies (in per cent)198185302271200
Debt less deposits (i.e., net debt) as per cent of GNP10.29.412.813.111.6
Debt service ratio in convertible currencies (in per cent)36333946381
Czechoslovakia
Debt in convertible currencies (US$ billions)0.61.01.93.24.6
Bank deposits as proportion of debt (in per cent)75.740.821.118.828.3
Proportion of debt owed to BIS reporting banks (in per cent)47.462.576.1
Proportion of bank debt falling due within two years (in per cent)60.747.8
Debt as a proportion of exports in convertible currencies (in per cent)464680104112
Debt less deposits (i.e., net debt) as per cent of GNP0.51.42.53.54.6
Debt service ratio in convertible currencies10131520221
German Democratic Republic
Debt in convertible currencies (US$ billions)1.63.15.98.911.7
Bank deposits as proportion of debt (in per cent)20.317.510.213.517.1
Proportion of debt owed to BIS reporting banks (in per cent)61.069.781.2
Proportion of bank debt falling due within two years (in per cent)63.958.0
Debt as a proportion of exports in convertible currencies (in per cent)95104161237216
Debt less deposits (i.e., net debt) as per cent of GNP3.04.66.77.99.2
Debt service ratio in convertible currencies (in per cent)18212949541
Hungary
Debt in convertible currencies (US$ billions)1.42.14.07.58.5
Bank deposits as proportion of debt (in per cent)24.128.222.512.016.5
Proportion of debt owed to BIS reporting banks (in per cent)77.585.387.1
Proportion of bank debt falling due within two years (in per cent)….60.451.3
Debt as a proportion of exports in convertible currencies (in per cent)140126208295250
Debt less deposits (i.e., net debt) as per cent of GNP7.37.911.517.620.2
Debt service ratio in convertible currencies (in per cent)14192136371
Poland
Debt in convertible currencies (US$ billions)7.64.611.817.825.1
Bank deposits as proportion of debt (in per cent)25.911.45.14.52.4
Proportion of debt owed to BIS reporting banks (in per cent)45.865.760.2
Proportion of bank debt falling due within two years (in per cent)50.949.7
Debt as a proportion of exports in convertible currencies (in per cent)87120259324326
Debt less deposits (i.e., net debt) as per cent of GNP2.25.510.813.317.7
Debt service ratio in convertible currencies (in per cent)152342791921
Romania
Debt in convertible currencies (US$ billions)1.22.72.95.28.9
Bank deposits as proportion of debt (in per cent)3.87.810.33.83.4
Proportion of debt owed to BIS reporting banks (in per cent)24.148.153.9
Proportion of bank debt falling due within two years (in per cent)51.349.0
Debt as a proportion of exports in convertible currencies (in per cent)999887120148
Debt less deposits (i.e., net debt) as per cent of GNP6.910.88.413.818.4
Debt service ratio in convertible currencies (in per cent)27221820221
U.S.S.R. (including CMEA banks)2
Debt in convertible currencies (US$ billions)3.67.018.321.223.3
Bank deposits as proportion of debt (in per cent)51.550.320.227.836.9
Proportion of debt owed to BIS reporting banks (in per cent)71.673.170.4
Proportion of bank debt falling due within two years (in per cent)48.548.2
Debt as a proportion of exports (goods and services) in convertible currencies (in per cent)68551088847
Debt less deposits (i.e., net debt) as per cent of GNP0.10.31.41.20.7
Debt service ratio in convertible currencies (in per cent)17152531241
Sources: Bank for International Settlements; Organization for Economic Cooperation and Development, Financial Market Trends; Fink, G.,“An Assessment of European CMEA Countries’ Hard Currency Debt,” Wiener Institut fuer Internationale Wirtschaftsvergleiche (Vienna, September 1981, mimeographed document); U.S. Central Intelligence Agency, National Foreign Assessments, Handbook of Economic Statistics 1981; and Fund staff estimates.

Figures for 1979.

Includes convertible currency debt of banks of members of the Council for Mutual Economic Assistance (CMEA).

Sources: Bank for International Settlements; Organization for Economic Cooperation and Development, Financial Market Trends; Fink, G.,“An Assessment of European CMEA Countries’ Hard Currency Debt,” Wiener Institut fuer Internationale Wirtschaftsvergleiche (Vienna, September 1981, mimeographed document); U.S. Central Intelligence Agency, National Foreign Assessments, Handbook of Economic Statistics 1981; and Fund staff estimates.

Figures for 1979.

Includes convertible currency debt of banks of members of the Council for Mutual Economic Assistance (CMEA).

Table 46.Nominal and Real Interest Rates, 1977–81(In per cent)
19771978197919801981
United States
Three-month Eurodollar deposit rate6.08.712.014.416.5
GNP deflator5.87.38.59.09.2
Real interest rate10.21.33.25.06.7
Germany, Fed. Rep.
Three-month money market rate4.43.76.79.512.1
GNP deflator3.83.93.95.04.2
Real interest rate10.6–0.22.74.37.6
Japan
Three-month gensaki rate25.65.15.910.77.4
GNP deflator5.54.02.01.92.8
Real interest rate10.11.13.88.64.5
Sources: International Monetary Fund, International Financial Statistics; Deutsche Bundesbank, Monthly Report; and Bank of Japan, Economic Statistics Monthly.

If i represents the nominal interest rate, the growth of the GNP deflator, and r the ex post real interest rate, i = r + + rṗ.

Bond repurchase agreements.

Sources: International Monetary Fund, International Financial Statistics; Deutsche Bundesbank, Monthly Report; and Bank of Japan, Economic Statistics Monthly.

If i represents the nominal interest rate, the growth of the GNP deflator, and r the ex post real interest rate, i = r + + rṗ.

Bond repurchase agreements.

Table 47.Interest Rates on International Markets, 1980 and 1981(In per cent)
19801981
Dec.Jan.Feb.Mar.Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.
Eurocurrency markets1
U.S. dollars in London19.4518.1017.1915.4116.0019.1617.9118.5418.8217.7916.3213.3113.33
Sterling in London14.9113.6312.7512.3112.5912.4112.6513.8314.1814.8516.3315.0515.43
Swiss francs in London5.566.449.317.759.569.9310.059.719.0810.6711.079.869.73
Deutsche mark in London9.139.4414.0012.3112.4412.8612.6312.4712.5212.0911.3810.6910.71
Netherlands guilders in London9.729.399.8310.7610.5811.9311.8812.4413.5913.0912.6911.7511.10
French francs in London11.3111.0014.2513.2513.6318.4522.9022.0324.9625.0019.3716.8517.17
Japanese yen in London8.388.508.607.757.387.727.637.417.487.487.457.196.83
International bond markets2
Dollar-denominated bonds:
3- to 7-year maturity13.9613.4613.9314.2914.4615.1914.8914.9915.8816.5616.4315.7315.07
7- to 15-year maturity313.2712.9613.4713.7113.8014.6314.1514.3114.8715.5015.5714.8714.64
Deutsche mark denominated bonds
3- to 7-year maturity9.709.6010.5310.7010.5311.0311.4011.3711.5711.7311.3010.7310.37
7- to 15-year maturity39.379.3710.0310.1710.0010.5010.7310.4310.6310.7310.169.779.53
Netherlands guilder denominated notes:
3 or more years maturity10.139.9810.4710.8310.8711.3011.6311.7812.1412.4712.2012.0311.47
French franc denominated bonds
3- to 7-year maturity13.9914.0614.4614.6014.6216.0017.1117.4917.7118.4417.7617.5017.17
Source: Organization for Economic Cooperation and Development, Financial Statistics Monthly.

Three-month deposits.

Secondary market yields.

Unweighted average of rates for international organizations, the public sector, and private corporations.

Source: Organization for Economic Cooperation and Development, Financial Statistics Monthly.

Three-month deposits.

Secondary market yields.

Unweighted average of rates for international organizations, the public sector, and private corporations.

Table 48.Developing Country Issues and Placements in International Markets, 1975-First Quarter 19821(In millions of U.S. dollars)
197519761977197819791980198121982 1st Qtr.2
Algeria35147215720183
Argentina1643266417164120
Bermuda60
Bolivia15
Brazil351938569367363161543
Chile5350848230
China, People’s Republic of44
Colombia55
Costa Rica20109
Ecuador862
Egypt25
El Salvador25
Gabon15
Greece30
Haiti8
Hong Kong2512850
India30136
Indonesia17104634672
Iran308169
Israel245351340426437456312
Ivory Coast1014
Korea7472564448133
Kuwait62
Lebanon5
Malaysia1043139152315
Mexico2704281,3486873633562,068850
Morocco284528912223
Panama142721511125
Papua New Guinea2525
Peru25
Philippines367130216176676530
Portugal5030
Romania100
Saudi Arabia1015
Singapore121751552525
South Africa37285334822443719261
Sudan9
Thailand69176464343
Trinidad and Tobago150
Tunisia491026
Turkey24
United Arab Emirates42
Venezuela438690174132238
Yugoslavia901291279637
Total1,2622,0924,2255,7673,5542,4613,5381,446
Sources: World Bank, Borrowing in International Capital Markets; and Organization for Economic Cooperation and Development, Financial Statistics Monthly.

Foreign bonds and Eurobonds.

Preliminary figures.

Sources: World Bank, Borrowing in International Capital Markets; and Organization for Economic Cooperation and Development, Financial Statistics Monthly.

Foreign bonds and Eurobonds.

Preliminary figures.

Table 49.International Bond Issues and Placements by Currency of Denomination, 1976-First Quarter 1982(In millions of U.S. dollars; and in per cent)
1976197719781979198019811982, 1st Qtr.
AmountShare of totalAmountShare of totalAmountShare of totalAmountShare of totalAmountShare of totalAmountShare of totalAmountShare of total
U.S. dollar20,63160.120,02455.514,00237.415,69738.616,30142.527,98358.811,41659.8
Eurobonds9,99912,3367,64311,09513,66423,02410,716
(Of which: Floating rate notes)(—)(1,840)(2,553)(4,217)(4,235)(3,120)
Foreign bonds10,6327,6886,3594,6022,6374,959700
Deutsche mark4,13012.06,72618.68,20821.98,17720.17,75020.22,6595.61,4107.4
Eurobonds2,8215,2156,5315,8814,2541,055796
Foreign bonds1,3091,5111,6772,2963,4961,604614
Swiss francs5,44415.94,95913.77,55320.29,63723.77,48819.58,12017.13,13316.4
Foreign bonds5,4444,9597,5539,6377,4888,1203,133
Japanese yen2870.81,3943.94,76612.73,1697.82,0325.33,0976.51,2956.8
Eurobonds15511179184301535300
Foreign bonds1321,2834,6872,9851,7312,562995
Netherlands guilder1,1593.45451.57362.07741.91,1172.99922.13401.8
Eurobonds46736338430879245387
Foreign bonds692182352466325539253
Pound sterling2210.63430.92910.71,2673.31,6293.41540.8
Eurobonds2212872911,089826154
Foreign bonds56178803
French franc1380.4620.23340.97391.81,0962.96021.3
Eurobonds621033741,002513
Foreign bonds76622313659489
Other currencies2,5227.42,1636.01,4904.02,1585.31,3383.52,5315.31,5027.9
Eurobonds2,0191,3498631,4041,0771,800793
Foreign bonds503814627754260731709
Total34,311100.036,094100.037,432100.040,642100.038,389100.047,613100.019,096100.0
Sources: World Bank, Borrowing in International Capital Markets: and Organization for Economic Cooperation and Development, Financial Statistics Monthly.
Sources: World Bank, Borrowing in International Capital Markets: and Organization for Economic Cooperation and Development, Financial Statistics Monthly.
Table 50.Inflation, Interest Rate, and Exchange Rate Experience of Selected Financial Market Countries, 1970–80(In per cent)
1970–751976–80
MeanStandard deviationMeanStandard deviation
United States
Rate of inflation as measured by the rate of change in
Consumer price index6.62.98.93.2
GNP deflator6.42.17.21.6
Nominal treasury bill interest rate5.91.57.82.9
Nominal long-term treasury bond interest rate7.10.98.91.4
Real treasury bill rate1–0.50.6
Real treasury bond rate10.71.5
United Kingdom
Rate of inflation as measured by the rate of change in
Consumer price index12.06.514.54.4
GDP deflator12.27.614.73.5
Nominal treasury bill interest rate8.22.511.13.3
Nominal treasury bond interest rate11.22.613.33.4
Exchange rate ($/£)–1.56.32.212.0
Real treasury bill rate1–3.6–3.1
Real treasury bond rate1–0.9–1.2
Germany, Federal Republic of
Rate of inflation as measured by the rate of change in
Consumer price index5.71.34.11.1
GNP deflator6.71.33.90.7
Nominal call money rate7.12.65.32.3
Nominal public authorities’ bond yield8.70.97.12.7
Exchange rate (DM/$)–6.88.4–5.38.5
Real call money rate10.41.3
Real public bond yield11.93.1
Japan
Rate of inflation as measured by the rate of change in
Consumer price index11.17.06.62.5
GNP deflator9.35.84.51.8
Nominal call money rate8.32.96.82.5
Nominal government bond yield7.81.17.81.2
Exchange rate (¥/$)–2.67.9–5.014.1
Real call money rate1–0.92.2
Real government bond yield1–1.43.2
Switzerland
Rate of inflation as measured by the rate of change in
Consumer price index7.02.22.31.4
Nominal government bond yield5.90.84.10.7
Exchange rate (Sw F/$)–7.87.7–7.212.1
Real government bond yield1–1.11.7
Source: International Monetary Fund, International Financial Statistics.

The average real interest rate (r) is derived from the corresponding average nominal interest rate (i) and average rate of inflation (p) via 1 + r = (1 + i)(1 + p). In all countries except Switzerland, p is the average rate of change in the GNP or GDP deflator. For Switzerland, p equals the average rate of change in the consumer price index.

Source: International Monetary Fund, International Financial Statistics.

The average real interest rate (r) is derived from the corresponding average nominal interest rate (i) and average rate of inflation (p) via 1 + r = (1 + i)(1 + p). In all countries except Switzerland, p is the average rate of change in the GNP or GDP deflator. For Switzerland, p equals the average rate of change in the consumer price index.

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