U.S. banks significantly increased their exposures to France in the year to June 30.

The banks' direct cross-border claims, foreign office claims — local claims of the banks' offices abroad — and derivative claims on entities and individuals in France amounted to $308.1 billion at the end of June, up 47% from $209.8 billion a year before, according to S&P Global Market Intelligence data. Their exposure to Ireland increased by 22.8% year over year, to Luxembourg by 27.7%, to Norway by 39.8% and to Russia by 26.7%.

The most exposures of U.S. banks are still to the U.K., where claims amounted to $632.49 billion at the end of June, despite Britain's exit from the EU in early 2020.

Brexit has driven jobs and assets to the elsewhere in the EU. French Central Bank Governor François Villeroy de Galhau said earlier this year that, despite the coronavirus pandemic, Brexit had driven thousands of jobs and at least €170 billion in assets from British entities to France by the end of 2020.

Goldman Sachs, Citigroup Inc. and Bank of America Corp. are among the American banks that have bolstered their presence in France since Brexit. Notably, Goldman Sachs increased its French exposure by 162.1% in the year to June 30. Citigroup's exposure increased by 45.7%, and that of JPMorgan Chase & Co. grew by 15.5%.

Some U.S. banks decreased their exposure to Germany over that time frame. The claims of Goldman Sachs on Germany fell by 22.1% to $35.37 billion, while those of Citigroup dropped by 19.2% and those of Bank of America fell 10.5%.