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French banks cut lending by $200 billion in Q4

  • French banks cut their overseas lending by almost $200 billion in the fourth quarter of last year.

    According to the Bank for International Settlements (BIS), which charts global borrowing trends, French banks cut cross-border lending by $197 billion in the final quarter, equal to 5.3 percent.

    This follows a 7.1 percent fall seen in the previous quarter, the sharpest drop by French banks for 12 years.

    Global lending dropped by $799 billion in the fourth quarter, or 2.5 percent, the sharpest fall since the collapse of U.S. investment bank Lehman Brothers three years ago.