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International lending to China, Russia falls in Q4: BIS data

[ZURICH] Banks' cross-border lending to China shrank by about US$51 billion during the last three months of 2014, data showed on Thursday, bringing down the year-on-year growth rate to 21 per cent from the 40 per cent seen at the end of September.

The decline in cross-border claims on Russia continued in the fourth quarter, according to data released by the Bank for International Settlements. Adjusted for exchange rates, lending to Russia shrank by about US$20 billion, bringing the year-on-year contraction to 21 per cent.