Taiwan financial firms’ exposure to Europe hits NT$3 trillion

Focus Taiwan
Date: 2016/06/21
By: Tsai Yi-chu and Frances Huang

Taipei, June 21 (CNA) The exposure of Taiwan’s financial sector to the European market 201606210029t0001currently totals about NT$3 trillion (US$92.88 billion), according to a market estimate released Tuesday.

The estimate was reached after industry sources took into account data recently released by the Financial Supervisory Commission (FSC) showing that as of mid-2015, exposure of the local financial sector had reached NT$2.77 trillion.

The local financial market has become wary of a referendum scheduled by the United Kingdom for June 23 to decide whether it should leave the European Union.

The local financial market is alert to the possible risks arising from a vote result pointing to a U.K. departure from the EU, which could send ripples through global markets and push down the value of the British pound.     [FULL  STORY]

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