With the possibility of military conflict between Russia and Ukraine rising steeply, coupled with concerns about a potential disruption to the global market, the Financial Supervisory Commission (FSC) has conducted an assessment of Taiwan’s risk exposure in banking, insurance and securities in the two countries.
As of the end of December last year, loans from Taiwan’s 38 banks to Russia put their credit risk exposure at a combined NT$5.285 billion (US$189.79 million), while their credit exposure in Ukraine was NT$6 million, the Banking Bureau said.
Taiwanese insurers had no risk exposure in Ukraine, but their risk exposure in Russia was as high as NT$147 billion, the bureau said.
Taiwan has no risk exposure to Russian or Ukrainian securities, but private investors might have risk exposure because of securities and futures acquired through domestic and overseas investment funds, the Securities and Futures Bureau said.
The securities bureau estimated that the risk faced by private investors using domestic funds to invest in Russia totaled NT$21.4 billion, while the risk faced by those using overseas funds was NT$35.4 billion.
The risk exposure for private investors using domestic funds to invest in Ukraine was NT$5.08 billion, while the risk faced by those using overseas funds was NT$15 billion.
Overall, Taiwan had a financial risk of NT$209.085 billion in Russia and NT$20.086 billion in Ukraine, the commission said.
CONGRESSIONAL SUPPORT: A new committee would investigate a backlog of US weapons sales to Taiwan, said its chairman, US Representative Mike Gallagher The US should formally recognize Taiwan as an independent nation, and end its outdated and counterproductive “one China” policy, US Representative Tom Tiffany and 18 other US lawmakers wrote in a petition. “It is time to change the status quo and recognize the reality denied by the US government for decades: Taiwan is an independent nation,” Tiffany told the Epoch Times. “As our long-standing and valued partner, correctly acknowledging their independence from communist China is long overdue.” The resolution also asks the administration of US President Joe Biden to support Taiwan’s membership in international organizations and to negotiate a bilateral free-trade
GUT FEELING: In the leaked memo, US Air Force General Mike Minihan urged mobile command personnel to go to a firing range, shoot at a target and ‘aim for the head’ A four-star US Air Force general has warned of a conflict with China as early as 2025 — most likely over Taiwan — and urged his commanders to push their units to achieve maximum operational battle readiness this year. In an internal memorandum that first emerged on social media on Friday, and was later confirmed as genuine by the Pentagon, Air Mobility Command Commander General Mike Minihan said that the main goal should be to deter “and, if required, defeat” China. “I hope I am wrong. My gut tells me we will fight in 2025,” Minihan said. Minihan said that Taiwan’s presidential election
INCREASED RISK: The Omicron BA.2.75 subvariant has higher immune evasive capacity, but the CECC is more concerned about newer subvariants such as XBB and BQ.1 With the peak season for infectious respiratory diseases coming to an end, the Central Epidemic Command Center (CECC) yesterday said that details of the next phase of lifting COVID-19 masking rules — removing the mask requirement in most indoor settings — are to be announced this week. Discussions on lifting other COVID-19 restrictions are also being held, including further easing border control measures, home isolation requirements and revising the definition for reporting cases, while also downgrading COVID-19 to a lower category of notifiable communicable disease, said Deputy Minister of Health and Welfare Victor Wang (王必勝), who heads the CECC. As the daily
DEMOCRATIC SYSTEM: Czech president-elect Petr Pavel said his nation stands firmly on the side of democracy and would boost cooperation with Taipei in all aspects Czech president-elect Petr Pavel spoke by telephone with President Tsai Ing-wen (蔡英文) yesterday, a highly unusual move given the lack of formal ties and a diplomatic coup for Taipei. Tsai spoke with Pavel for 15 minutes in a harmonious atmosphere, Presidential Office spokeswoman Lin Yu-chan (林聿禪) said, adding that Minister of Foreign Affairs Joseph Wu (吳釗燮) was also present during the conversation. Lin quoted Pavel as telling Tsai that Taiwan is a trustworthy partner, adding that the Czech Republic stands firmly on the side of democracy and supports Taiwan in maintaining a lively democratic system free from authoritarian coercion. The Czech Republic would