The Bank for International Settlements (BIS) has warned about over $80 trillion-dollar hidden debt in the form of foreign exchange swaps.
According to BIS document, this very short-term hidden borrowing forms part of a huge, missing and growing debt.
In its latest quarterly report, BIS raised concerns about the ongoing crypto market problems and September's UK government bond market turmoil.
BIS has also urged the central banks to act forcefully to dampen inflation.
The $80 trillion-plus "hidden" debt estimate exceeds the stocks of dollar Treasury bills, repo and commercial paper combined, the BIS said
For both non-U.S. banks and non-U.S. 'non-banks' such as pension funds, dollar obligations from FX swaps are now double their on-balance sheet dollar debt, the BIS estimated.
The BIS report also looked at the broader market developments over the last few months while other sections of the report focused on findings from its recent global FX market survey.
