I don't know about the other Canadian Banks, but TD recently put out a press release on Asian exposure. Here it is:TD Bank <TD.TO> announcement/Asian exposure
TD BANK DISCLOSES ASIAN EXPOSURES
TORONTO, Jan. 19 /CNW/ - TD Bank today disclosed the following details of
the Bank's exposures in Indonesia, Malaysia, the Philippines, South Korea and
Thailand (All figures in $Cdn. millions).
Country State-Owned Private Private Sector Total
Commercial Commercial Corporations
Banks Banks
Indonesia 200 137 183 520
Malaysia 0 3 0 3
Philippines 19 16 22 57
South Korea 124 118 0 242
Thailand 23 63 7 93
Total 366 337 212 915
William T. Brock, Deputy Chairman, TD Bank, indicated that the vast
majority of the loans to the two banking sectors (State-owned Commercial Banks
and Private Commercial Banks) are trade-related, and only nominal amounts are
interbank loans of the type now subject to rescheduling discussions between
the commercial banks and South Korea. The corporate loans are concentrated in
independent power and telecommunications projects, which are now under
construction, with some of these supported by various forms of G-7 Government
Export Agency credit insurance.
A loss estimate on this portfolio is difficult to forecast at this early
stage. In the LDC crises of the 1980's, trade finance loans generally were
settled in full,'' said Brock.
The Bank will report its first quarter results on February 26th and will
provide an annual loss estimate at that time. This year, the Bank will comply
with the recent regulatory directive to set losses at the annual average
losses forecast over the economic cycle. This would amount to approximately
$250 million, a figure expected, at this time, to be much higher than the
actual losses. The Bank has reported actual credit losses of approximately
$160 million in each of the last two years. The difference between the amount
required by regulators and the actual losses will be added to the Bank's
General Reserves.
For further information: Dan Marinangeli, SVP, Finance, TD Bank (416)
982-8002/
17:01 01-19-98 |
