Although they’re not anywhere near at risk as their British counterparts, Citigroup Inc. (NYSE:C) has the most exposure of an U.S. bank to the Dubai debt crisis, having lent $1.9 billion to the United Arab Emirates. Overall, the United States lent out $13.4 billion to the UAE.

Here’s how individual UK banks fared as to how much is owed them by the United Arab Emirates:

HSBC Holdings $15.9 billion 
Standard Chartered Bank, $7.8 billion 
Barclays Group, $3.7 billion 
Royal Bank of Scotland $2.2 billion
 
You also have to add, BNP Paribas, which is owed $1.7 billion. while based in France it of course has a huge UK presence.

United Kingdom banks are owed a total of $51.2 billion, by far the largest national borrower of funds to Dubai in general.

Concerning debt, RBS holds about $23 billion in Dubai World bonds, the largest creditor of Dubai World globally.

So far HSBC Holdings has lost approximately $611 million in the deal, as repayments of the loan have fallen behind. Standard Chartered Bank has also suffered in the debacle, already losing $177 million because of payments being delayed.

Other nations at risk besides the UK and the United States are France, France’s $11.2 billion ; Germany’s $10.9 billion; Japan $8.9 billion; The Netherlands 5.2 billion; and Switzerland with 4.5 billion. 
 
Claims by foreign banks which have made loans to the United Arab Emirates stand at $123 billion together. Of that, $80 billion is invested in Dubai, and there is approximately $60 billion in corporate debt connected to Dubai World.

The major concern in relationship to UK banks is where all the loans are at this time. Have they been sold off, spreading the risk among global investors? If that is the case, then it could be financial institutions like private equity companies, hedge funds and smaller banks which may face the risk.

Standard Chartered could be a possible exception as well, as it isn’t known yet what percentage of loans from the bank were directly to Dubai or instead to the Dubai World project.