Reacting to turmoil in Russia, U.S. banks reduced overseas lending in the third quarter, the Federal Financial Institutions Examination Council said Wednesday.

U.S. banks were owed $479.4 billion by foreign borrowers as of Sept. 30, down $8.1 billion from June 30. Borrowing in Russia alone plummeted 73%, to $1.7 billion, in the third quarter.

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