2024-01-11 10:51:56

The war between Ukraine and Russia continues! my country’s life insurance company has been hit hard by Russia’s target maturing bonds. It has recorded an expected loss of 124.2 billion yuan so far. Since May last year, the public debt has not received interest. Other banks and investment credit companies reported losses of NT$2.5 billion and NT$450 million respectively.

The Financial Supervisory Commission confirmed that I levied more than 120 billion yuan on Ukraine and Russia and put it on public debt and have yet to receive interest.File photo: Central News Agency

The Financial Supervisory Commission once once more announced today (11th) the exposure of the three financial industries to Russia’s target maturing bonds. In November, no life insurance company increased its provision for expected credit losses, with the amount on its books reaching 124.2 billion yuan. However, the Financial Supervisory Committee also admitted that the maturing bonds targeted by Russia’s emerging market turmoil have been hit hard. The public debt part has not received interest since May last year, while the remaining bonds have received interest. Russia’s foreign currency settlement channels are limited, and we will continue to pay attention to the subsequent repayment and interest payments.

Lin Zhixian, deputy director of the Insurance Bureau, said that at the end of December last year, seven life insurance companies held Russian bonds. In November, no life insurance companies increased their provision for expected credit losses. The amount on their accounts (excluding expected credit losses) was 124.2 billion yuan, which was relatively There was a decrease from 126.8 billion yuan in the same period last year, and expected credit losses at the end of November were 19.3 billion yuan, an increase of 2.4 billion yuan from 16.9 billion yuan in the same period last year, mainly due to the impact of exchange rate changes.

The Insurance Bureau explained that some life insurance companies have stated that Russia is willing to pay interest on public debt in rubles, but Russian collective insurance institutions are subject to EU sanctions, and foreign investors are still blocked from accepting Russian foreign currency settlement channels.

Regarding the National Bank of China, officials from the Banking Bureau pointed out that by the end of last year, there were still 4 banks holding Russian bonds, and the investment positions of the relevant banks had decreased. A loss of 2.524 billion yuan had been provided, which was a decrease from the 4.077 billion yuan provided in December of the previous year. At the end of November last year, domestic banks had 3.319 billion yuan of exposure to Russia, including 36 million yuan of credit and 3.283 billion yuan of investment. Compared with 5.157 billion yuan in December of the previous year, the exposure amount decreased by 1.838 billion yuan because some bonds have expired.

Officials from the Securities and Futures Bureau said that the exposure amount of 24 tranches of domestic funds at the end of November was 1.275 billion yuan, down from 2.488 billion yuan in 36 tranches at the end of the previous year; the exposure amount of overseas funds reached 201 million yuan in 18 tranches at the end of November, which was also compared with 452 million yuan in 25 tranches at the end of the previous year. Yuan decrease was due to loss recognition and disposal.

• Yahoo Finance special correspondent Ye Yiru: 22 years of experience in mainstream financial media. From the Web1.0 bubble in 2000 to the Meta Yuanverse Web3.0, he has witnessed the rise and fall of Taiwan’s large and small enterprise groups and has experienced five international financial crises. We believe that finance is life and is everywhere. No matter how difficult financial knowledge is, we should explain it in a simple way. Everyone, young and old, should manage money. If you don’t manage money, money will not care regarding you.

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