$14 trillion in missing debt: is it time for an accounting change?
With an estimated $14 trillion in debt lurking off non-bank balance sheets, is it time to put FX-related debt back onto balance sheets? Corporates are likely to disagree.
Non-banks outside the US owe roughly $13 to 14 trillion off their balance sheets in the form of foreign exchange swaps and forwards, according to the Bank for International Settlements (BIS).
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