Taiwan banks’ deposits of yuan at 15-month low

Taipei Times
Date: May 23, 2016
By: Staff writer, with CNA

Chinese yuan-denominated deposits held by Taiwan-based banks last month fell to a 15-month low, reflecting a downbeat mood about the yuan’s strength at a time when economic growth in China continues to show signs of slowing down, according to the local central bank.

Citing data, the central bank last week said that the balance of yuan deposits, including negotiable certificates of deposit (NCDs), held by banks in Taiwan totaled 310.82 billion yuan (US$47.82 billion), down 3.496 billion yuan, or 1.11 percent, from a month earlier.

Last month’s balance was not only the lowest in 15 months, but marked the third consecutive month for the deposits to fall in the Taiwanese banking sector, according to the data.     [FULL  STORY]

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