outstanding cross-border bank credit reached a record of $34.7 trillion

the latest increase was driven by increased lending to non-bank financial institutions (NBIFs), with most of the credit being issued in USD or EUR

bank credit continues to grow, and it will continue to grow

it will almost certainly break the 7% annual growth resistance

central banks will expand balance sheets and lower interest rates to refinance the existing public and private debt

data source: BIS