Global credit and domestic credit booms

BIS Quarterly Review  |  September 2011  | 
19 September 2011

US dollar credit is growing quickly outside the United States, especially in Asia, and in some economies it has outpaced overall credit growth. Cross-border sources of credit bear watching in view of their record of outgrowing overall credit in credit booms. Foreign currency and cross-border sources of credit raise policy issues.

JEL classification: E5, F3