Taiwan's financial regulators said local financial firms had combined loans and investments of T$33.8 billion in Greece, Spain and Portugal.
The statement from the Financial Supervisory Commission comes after world stock markets slumped to three-month lows on Friday on fears that the crisis of debt-strapped Greece will spread. The euro fell to its lowest level against the dollar in 8-? months.
Taiwan's insurance companies had invested T$19.5 billion in the three European countries, while banks had loaned T$10.6 billion and mutual funds had invested T$3.7 billion there, the commission said in a statement late on Saturday.
"There have been no defaults from the nations' financial institutions or companies," it said. "The commission will continue to monitor local firms' exposure to the nations."
Fubon Financial <2881.TW>, parent of the island's No.2 life insurer, said on Saturday it had invested 270 million euros in Spanish government bonds. [ID:nTOE61500B]
Cathay Financial <2882.TW>, Mega Financial <2886.TW> and Chinatrust Financial <2886.TW> also had loans or investments in governments and firms in the European countries, according to statements from the companies.
Greece, Portugal and other bloc members with swollen deficits like Spain face intense pressure to get their public finances in order and calm markets worried about the risks of a sovereign default.
http://sg.news.yahoo.com/rtrs/20100207/tbs-taiwan-eurozone-b8dd11d.html
|
