The US remained Taiwan’s largest debtor as of the end of September, as outstanding international claims by Taiwanese banks on the US reached a record-high US$79.25 billion on a direct risk basis, up from US$79.11 billion at the end of June, data released by the central bank showed on Friday last week.
The growth resulted from an increase in bank loans and investments in US treasuries and securitized financial instruments.
China came in second, with Taiwanese banks’ outstanding international claims totaling US$43.84 billion, down from US$45.20 billion a quarter earlier, the bank’s data showed.
Analysts said the decline was due to Taiwanese banks cutting their holdings of Chinese debt and other instruments amid concerns over the effect of the US-China trade dispute.
Overall outstanding international claims of Taiwanese banks were US$434.2 billion, down 0.26 percent from the previous quarter, as Taiwanese banks cut lending to public sectors worldwide, the central bank said.
The non-bank private sector worldwide held 62.40 percent of Taiwan’s total international claims as of Sept. 30, with the banking industry holding 29.79 percent and the public sector securing 7.8 percent, the data showed.
Developed countries were Taiwan’s main debtors, accounting for 52.50 percent of the nation’s total international claims, the data indicated.
In terms of regions, the Asia-Pacific region accounted for 47.50 percent of Taiwan’s total international claims, followed by the Americas and the Caribbean (28.86 percent) and Europe (20.42 percent), the central bank said.
After the US and China, Luxembourg was Taiwan’s third-largest debtor, with Taiwanese banks’ exposure standing at US$39.43 billion, followed by Hong Kong with US$36.88 billion and Japan with US$32.76 billion in exposure, the central bank’s figures showed.
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