Chart 7 United States’ household sector debt Ratio to nominal GDP  2.2  Gross capital flows and risk profile of financial institutions  Second, gross capital flows. The net capital flows corresponding to current account balances do not provide us with sufficient information to locate possible sources of unsustainable imbalances. It will need to be supplemented with other sources of data.
A case in point would be recent developments in the euro area. The current account of the euro area has been generally balanced during the past decade. But BIS banking statistics show that euro area banks actively intermediated US dollar funds from the international banking system to the non-banking sector in the United States (Chart 8).