BIS warns of $80 trillion of hidden FX swap debt | Reuters

Didn’t even know this was a thing.

The $80 trillion-plus “hidden” debt estimate exceeds the stocks of dollar Treasury bills, repo and commercial paper combined, the BIS said, while the churn of deals was almost $5 trillion per day in April, two thirds of daily global FX turnover.

Source: BIS warns of $80 trillion of hidden FX swap debt | Reuters

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