U.S. Dollar Funding Trend in the January-March Quarter of 2020 as Indicated by the BIS International Banking Statistics

Akitaka Tsuchiya, Ayano Nojima, Takumi Horikawa, Takashi Semba and Kimiaki Shinozaki
Additional contact information
Akitaka Tsuchiya: Bank of Japan
Ayano Nojima: Bank of Japan
Takumi Horikawa: Bank of Japan
Takashi Semba: Bank of Japan
Kimiaki Shinozaki: Bank of Japan

No 20-E-8, Bank of Japan Review Series from Bank of Japan

Abstract: In March 2020, amid the COVID-19 pandemic, the fund supply-demand balance for the U.S. dollar became tight globally, causing changes in U.S. dollar-denominated international fund transactions conducted by financial institutions. This article provides an overview of the trend in U.S. dollar-denominated international fund transactions conducted by Japanese financial institutions during this current phase as indicated by the BIS International Banking Statistics (IBS). Data available from the statistics highlighted the following two points: (1) that Japanese banks obtained U.S. dollars from the Bank of Japan (BOJ) through U.S. dollar funds-supplying operations and transferred them to U.S. branches via the inter-office account, and (2) that in the United States: in line with this flow of funds, claims vis-a-vis official sector, including reserve deposits with the U.S. Federal Reserve Bank (FRB), and loans to business corporations (drawdown of committed credit line) increased.

Date: 2020-11-25
New Economics Papers: this item is included in nep-cba
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.boj.or.jp/en/research/wps_rev/rev_2020/data/rev20e08.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:boj:bojrev:rev20e08

Access Statistics for this paper

More papers in Bank of Japan Review Series from Bank of Japan Contact information at EDIRC.
Bibliographic data for series maintained by Bank of Japan ().