Danger in the Eurocurrency markets 
0 
1967 *68 '69 ’70 *71 
6/74 
250 
Deposit growth 
has been dramatic. 
“Eurobank” deposits 
... but many banks borrow 
short and lend long 
100 
Other currencies 
4. Billions of U.S. dollars 
4 
Billions of dollars 
I 
Data: Bank for International Settlements, BW est. Data: Eank of Fngland 
Banks put a lid 
on petrodollars 
Data: Bank of England; BW est. 
The worrisome build-up in Eurocredits 
■ ■ ■ 
... and some big borrowers 
Publicly-announced medium and long-term loans since 1970 
Billions of U.S. dollars 
I 
Billions of U.S. dollars 
Borrowers by areas 
1970 
1971 
1972 
1973 
9/74 
I Industrial countries 
Developing countries 
Industrial nations 
. $4.2 . . 
. $6.8 . . . .$10.4 
. . .$22.7 . . 
..$38.8 
I Italy 
. . .$9.7 
Mexico .... 
..$2.7 ‘ 
Non-OPEC developing countries. 
. 0.3 . . 
. . 1.3 .... 
3.1 
... 8.7 . . 
. . 13.8 
Britain . . . 
. .. 8.9 
Brazil 
. . 2.5 
OPEC countries 
. 0.1 .. 
. . 0.5 .... 
1.4 
. . . . 4.4 . . 
.. 4.9 
France ... 
. . . 3.3 
Greece .... 
... 1.4 
Communist countries 
. 0 
. . 0.1 .... 
0.6 . 
... 1.4 . . 
.. 3.0 
Spain .... 
. . . 2.0 
Peru 
. . 1.1 
Total 
. 4.7 . 
. . 8.7 .... 
15.5 
. ... 37.1 .. 
, 60.5 
Denmark . 
. .. 0.8 
Yugoslavia . 
Philippines . 
. . 1.1 
.. 1.0 
Data: Morgan Guaranty Trust Co. 
Argentina . . 
. . 0.8 
Selected Commodities of Which 20 Percent or More of U.S. Requirements Are 
Currently Supplied by Imports or Likely to Be Supplied by Imports by 1980 
Projected rate 
Net imports 
Over one-third U.S. 
Over one-half U.S. 
of growth of 
as percent 
Major sources of U.S. 
imports from 
imports from 
U.S. demand 
of domestic 
Commodity 
imports in 1972 
developing countries 
developing countries 
(percent) 
use in 1970 
Bauxite-alumina 
Jamaica , Surinam, 
Canada, Australia 
X 
X 
7 
86 
Chromium 
South Africa, USSR, 
Turkey 
X 
5 
100 
Cobalt 
Zaire, Zambia, 
Norway, Finland 
X 
X 
2 
96 
Copper 
Canada, Peru, Chile 
X 
X 
4-5 
8 
Iron oro 
Canada, Venezuela 
X 
1.5-2.5 
30 
Lead 
Canada, Australia, 
Peru, Mexico 
X 
1.6 
40 
Manganese 
Brazil, Gabon, South 
Africa, Zaire 
X 
X 
3 
94 
Nickel 
Canada, Norway 
3 
91 
Potash 
Canada 
4 
42 
Sulfur 
Canada, Mexico 
4 
0 
Tin 
Malaysia, Thailand, 
Bolivia 
X 
X 
4 
71 
Tungsten 
Canada, Bolivia, Peru, 
Australia, Thailand 
X 
8 
60 
Zinc 
Canada, Mexico, Peru 
3 
59 
Source: Mining atul Minerals Policy (Second Annual Report of the Secretary of the Interior Under the Mining and Minerals Policy Act 
of 1970), 1973; and Material Needs and the Environment, Today and Tomorrow, National Commission on Materials Policy, 1973.