off-the-wire

Taiwanese financial sector has low exposure to Credit Suisse -regulator

Kitco Media
By Reuters
Published:
Updated:
Reuters

TAIPEI, March 16 (Reuters) - The Taiwanese financial sector's exposure to Credit Suisse (CSGN.S) is low and "controllable", the island's financial regulator said on Thursday.

Taiwanese insurers - large investors on global bond markets - have the highest exposure at T$108.2 billion ($3.54 billion), the regulator said, which is only around 0.35% of their total overseas assets.

The overall level of exposure is "within a controllable range", it said.

Credit Suisse on Thursday said it would borrow up to $54 billion from the Swiss central bank to shore up liquidity and investor confidence after a slump in its shares intensified fears about a global financial crisis.

($1 = 30.6080 Taiwan dollars)

Reporting by Emily Chan; Writing by Ben Blanchard; Editing by Bernadette Baum
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