WEST PALM BEACH, FL (www.hedgeco.net) – Bank for International Settlement, BIS said global lending business has grown by 4 percent during the first quarter of 2004. According to BIS released data,the international banking business gained about $20.5 trillion during the first quarter of 2005. BIS also reported that lending in the areas considered as home to hedge funds were instrumental in thesurge in new borrowing.
The bank also said there is a surge in borrowing in offshore centers. The reported growth in the global lending business is due to the economic boom resulting from the investment industry. The new data was released in the BIS quarterly report. The report stated, “The increase in the most recent quarter was largely due to a rise in claims on these borrowers in the United Kingdom and offshore centers, indicative of hedge fund and other non-bank financial activity.”
The data provided by BIS in the report showed that about $726 billion of new lending was granted to non-bank private sector, such category also includes hedge funds and manufacturers. Such borrowing according to BIS may be investments in capital goods. BIS is based in Basel in Switzerland.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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