Matthew Klein on the Economic Fallout from the Russia-Ukraine War
Macro Musings with David Beckworth
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Is the Exposure of Western Banks to Russia a Wild Cart?
The data come from the bank for nternational settlements. There is basically about a hundred billion dollars in total of foreign in globaly active banks claims on russians, net of whithical rist transfers. And then on top of that, some other exposures, whether its credit commitments or guarantees or derivatives, a somewhere under 50 billion. A lot of their stuff is in local subsidiaries; they have to be very careful not to get into trouble with depositors who are roughed up. Even if it were all one bank, that would be kind of the pain, but it's not.
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