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Updated Monday, February 8, 2010 11:16 am TWN, By Janet Ong, Bloomberg

Taiwan has NT$37.8 billion exposure in Spain, Greece, Portugal

TAIPEI, Taiwan -- Taiwan's financial institutions have a total exposure of NT$37.8 billion (US$1.2 billion) to Spain, Greece and Portugal, the regulator said, citing a preliminary check.

Domestic banks offered credit and made investments of NT$10.6 billion, of which NT$3.2 billion are in Greece, NT$6.6 billion in Spain and NT$800 million in Portugal, the Financial Supervisory Commission said in a statement on its web site.

Taiwan's investment trust funds invested a total of NT$3.7 billion in the three nations, while insurers invested NT$19.5 billion, of which NT$120 million are in Greece, NT$19.3 million are in Spain and NT$150 million in Portugal. The regulator will closely monitor the credit situation of the three nations and the exposure of the domestic institutions.

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