TAIPEI (Reuters) – The Taiwanese financial sector’s exposure to Credit Suisse 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)