And it shifts exposure off the balance sheet, so that shareholders are left less aware how much risk their bank is taking.

ECONOMIST: The trader��s lament

On the other hand, weakening consumer credit in America and uncertainty over its exposure to off-balance-sheet assets will add to the subprime worries.

ECONOMIST: Sovereign-wealth funds

Not accounted for in these sovereign debt numbers is the banks' exposure to off-balance-sheet items, equities and commercial and residential loans in PIIGS countries.

FORBES: International Investing