Bank of Taiwan’s role in implementing government policy bolsters its case to be the island’s first lender allowed to clear transactions in yuan, Chairman Liu Teng- cheng said in an interview.
Bank of Taiwan plans to open a branch in Shanghai to offer banking services to Chinese clients.
The Federal Reserve cleared the way for the Bank of Taiwan to open a branch in New York.
Forwards on the Taiwan dollar rose by the most in three weeks on prospects the island’s stock market will attract more overseas money after the Federal Reserve pledged to keep interest rates low.
Bank of Taiwan aims to perform due diligence on a possible purchase of Kuo Hua Life Insurance Co. before the year ends, the Economic Daily reported, citing Bank of Taiwan Chairwoman Susan Chang.