Friday 30 October, 2020

Cayman ranks seventh highest debtor to Taiwan's banks

Lending extended by banks operating in Taiwan to Cayman as of the end of June came to US$18.93 billion the central bank said Friday. This was the 7th highest international exposure of Taiwanese banks.

The United States was the largest debtor to banks in Taiwan for the 20th consecutive quarter, the central bank said, with outstanding international claims by Taiwanese banks on the U.S. as of the end of June totalling US$91.90 billion, up about US$7.55 billion from a quarter earlier on a direct risk basis.

China was in second place, with the exposure of Taiwanese banks hitting US$47.77 billion, ahead of exposure to Luxembourg which reached US$37.51 billion for banks in Taiwan. Hong Kong fell one spot to fourth place with exposure for Taiwanese banks down to US$33.67 billion while Japan took the fifth spot with exposure for Taiwanese banks at US$29.31 billion. Australia followed in sixth place at US$24.98 billion.

Falling behind Cayman was the United Kingdom at US$18.21 billion, Singapore at US$15.52 billion, and the British West Indies in 10th place at US$12.39 billion.

Bank exposure to Taiwan's top 10 debtors at the end of June stood at US$330.2 billion, accounting for 72.45 percent of the country's total international claims on a direct risk basis, the central bank said.

The non-banking private sector worldwide accounted for 58.71 percent of Taiwan's total international claims on a direct risk basis, with the banking industry making up 31.65 percent and the public sector representing 9.64 percent, the central bank said.

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