LENDING US A HAND:In June last year, the US replaced China as the biggest debtor to Taiwan, a trend that has continued due to the US’ stronger economy and dollar
Date: Apr 03, 2017
By: Staff writer, with CNA
Lending extended by Taiwanese banks to the US continued to hit a record high at the end of last year on the back of a recovery in the US economy and a stronger US dollar, the central bank said in a report issued on Wednesday.
However, the banks’ exposure to China kept falling, reflecting slowing growth in the world’s second-largest economy and the weakness of the yuan against the US dollar, the report said.
At the end of December last year, outstanding international claims by Taiwanese banks to the US on a direct risk basis had risen to US$69.68 billion from US$67.17 billion recorded at the end of September, the report said. [FULL STORY]