
Financial and Monetary Systems
The problem with dollar lending outside the US
The majority of the $7 trillion in banks’ dollar lending outside the United States is handled by banks based in Europe, Japan and elsewhere.
David Jones is a senior financial sector expert in the Monetary and Capital Markets Group and the New York Representative. He is on temporary assignment to the IMF from the Federal Reserve Bank of New York, where he is an Officer in the Markets Group.
The majority of the $7 trillion in banks’ dollar lending outside the United States is handled by banks based in Europe, Japan and elsewhere.