The Central Bank of Taiwan published its monthly overview of renminbi business, showing declines in total deposits, lending and remittances in August. As of Sept. 30, 65 authorized domestic banking units and 56 offshore banking units conducted renminbi business. Deposits excluding negotiable certificates of deposit stood at RMB 109.23 billion at the end of August, down from RMB 109.99 billion a month earlier, with no negotiable certificates of deposit outstanding. Discounts and loans fell to RMB 22.87 billion from RMB 25 billion, while monthly remittances declined to RMB 175.94 billion from RMB 191.77 billion. The Bank of China’s Taipei branch handled RMB 621 billion of renminbi settlements in September.
Central Bank of Taiwan reports lower renminbi deposits, lending and remittances in August
The Central Bank of Taiwan reported that renminbi deposits, lending and remittances declined in August. Deposits stood at RMB 109.23 billion, loans at RMB 22.87 billion and remittances at RMB 175.94 billion. As of Sept. 30, 65 domestic banking units and 56 offshore banking units conducted renminbi business.