A look at the activity of large Japanese financial institutions shows that cross-border claims in Asia have grown since around 2010  4  BIS central bankers’ speeches  and continue to rise steadily.
This increase has not contributed to an overheating in regional economies, since exposures by financial institutions from other Asian economies (such as Hong Kong and Singapore) have expanded even further and the increase in cross-border claims by Japanese financial institutions has partially offset a curtailment of cross-border claims by the euro area banks (Chart 7).