International banking activity picks up 28 July 2015 3:21PM John Kavanagh International banking activity picked up during the March quarter, with increases in debt securities and loans contributing equally to the expansion in cross-border claims. According to the Bank for International Settlements' March quarter international banking statistics, outstanding cross-border loans grew by US$326 billion during the quarter, while holdings of debt securities rose by US$318 billion.Total cross-border claims grew by six per cent during the 12 months to March.Cross border lending to advanced economies drove the increase, while cross-border bank lending to emerging market economies declined for the second consecutive quarter. Cross-border claims on emerging market economies contracted by US$49 billion during the March quarter, slowing year-on-year growth to less than one per cent.There was a US$56 billion fall in cross-border claims on China.