国际清算银行：2025年9月国际银行和金融市场动态季度报告（英文版）

Cross-border bank credit is dominated by a small number of very sizeable links between banks in one country and borrowers in another. The largest-sized cross-border banking links are mainly between major advanced economies. Concentration increased up until the Great Financial Crisis (GFC) and has abated only slightly since. It is higher for interbank credit than for credit to the non-bank sector. Despite the substantial decline in interbank credit in the aftermath of the GFC, concentration in