Japan's financial regulator has sounded out top domestic banks about China risks and whether they have plans in place if Sino-Western tensions escalate, according to multiple sources with direct knowledge of the matter.
As of end-March, the three banks had total credit exposure of about $64 billion to China, or roughly 1% of their total assets, according to their financial statements. The number does not include all business unit of the banks.
The FSA has not given the banks any specific directions for actions they need to take, one of the other sources said, adding the lenders were thinking about various eventualities and the regulator was hoping for their insights and information. The watchdog's move comes as tensions between China and Western allies have increased over the last 18 months amid a series of disputes involving the Russia-Ukraine war, Taiwan's sovereignty, and technology access.U.S. Secretary of State Antony Blinken met with China's top diplomat Wang Yi on Monday at the start of the second and final day of aJapanese banks, like many multinational companies, find themselves faced with the prospect of being caught in the middle.
France Dernières Nouvelles, France Actualités
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