U.S. banks had $169.9 billion in cross-border exposure to emerging markets at yearend, up 34% from nine months earlier, according to Brown Brothers Harriman & Co.
The figures were compiled from data supplied by the Federal Financial Institutions Examinations Council.
Six money-center banks-BankAmerica Corp., Bankers Trust Corp., Chase Manhattan Corp., Citicorp, First Chicago NBD Corp., and J.P. Morgan & Co.- had $128 billion of cross-border exposure at yearend, up 37% in nine months. They also had $65.4 billion of local country exposure.
Six superregional banks-Bank of New York Co., BankBoston Corp., First Union Corp., NationsBank Corp., Republic New York Corp., and State Street Corp.-had $23.3 billion of cross-border exposure and $9.5 billion of local country exposure.