U.S. ranks top debtor to Taiwan’s banks for 20th straight quarter

Focus Taiwan
Date: 09/25/2020
By: Pan Tzu-yu and Frances Huang

CNA file photo

Taipei, Sept. 25 (CNA) The United States ranked as the largest debtor to banks in Taiwan for the 20th consecutive quarter at the end of June, the central bank said Friday.

Data compiled by the central bank showed outstanding international claims by Taiwanese banks on the U.S. as of the end of June totaled US$91.90 billion, up about US$7.55 billion from a quarter earlier on a direct risk basis.

The growth came after the value of U.S.-based assets owned by Taiwanese banks increased in the wake of a significant rebound by U.S. stock markets at a time when the Federal Reserve eased its monetary policy to fight COVID-19, the central bank said.

On an ultimate risk basis, which calculates a country's consolidated debts after risk transfers, outstanding international claims by the local banking sector on the U.S. was also the largest at US$89.32 billion at the end of June, up from US$83.90 billion at the end of March, the data showed.    [FULL  STORY]

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