January 25, 2018 / 11:17 AM / 25 days ago

Dollar debt outside U.S. hits record $11 trillion

LONDON (Reuters) - The amount of dollar-denominated debt from countries and companies outside the United States has hit a record $11 trillion, new data from the Bank for International Settlements showed on Thursday.

The figures from the BIS, known as the central bank to the world’s central banks, showed the $11 trillion amount had been reached following a 5.2 percent rise year-on-year.

The data, which measured up to the end of September and does not count credit held by banks and other financial firms, also showed a 10.5 percent rise in euro-denominated debt to 2.9 trillion euros and a 3.3 percent rise in yen debt to 43.8 trillion yen.

Global debt levels have been driven higher over the last decade after top economies slashed interest rates following the financial crisis.

Reporting by Marc Jones; Editing by Jon Boyle

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