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The Bank for International Settlements (BIS) has warned of an $80 trillion hidden debt in foreign exchange swaps.
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According to the BIS document, this short-term, hidden borrowing is part of a growing, colossal debt.
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BIS's latest quarterly report raised concerns about ongoing crypto market problems and September's turmoil in the U.K. government bond markets.
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BIS also called on central banks to take decisive action to reduce inflation.
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The BIS stated that the "hidden" debt estimate of $80 trillion is more than the combined stocks of dollar Treasury bills and repo, with a total value of $80 trillion.
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The BIS estimates that dollar obligations from F.X. Swaps have now been doubled for both U.S. banks and non U.S. banks such as pension funds.
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BIS also examined market developments in the past few months, while other sections focused on the findings of its recent global F.X. market study.
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