Weaker RMB could wipe out $2.4bln of Taiwan banks’ assets: Fitch
Selling of risky target redemption forwards could hurt Taiwan’s private sector banks if the renminbi dips another 10%.
Fitch Ratings yesterday warned that 10 of Taiwan’s privately owned banks could incur aggregate losses of TWD79 billion ($2.4 billion), or 5% of assets, if the renminbi were to weaken by 10% from Rmb6.35 against the dollar.
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