FRANKFURT – The outstanding balance of external yen-denominated assets of major international banks plunged $65.2 billion, about 8.13 trillion yen, in 2001 from a year earlier, the Bank for International Settlements said in a report released Sunday.
The fall apparently stemmed from ongoing moves by Japanese banks to shut down overseas bases and transfer yen assets to headquarters in Japan.
The balance stood at $715.2 billion as of Dec. 31, according to the BIS report on transactions by international banks in 32 economies, including the United States, European countries, Japan and Hong Kong.
In contrast, the balance of dollar-denominated assets rose $405 billion and that of euro assets increased $433.4 billion.
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