22 January 2019

Taiwan sees capital flow-back on new bank OBU rules, paper says

Easing of restrictions on Taiwan financial institutions’ offshore banking units (OBUs), which was announced by the island’s Financial Supervisory Commission (FSC) recently, will help overseas capital worth up to NT$10 trillion (US$244 billion) to flow back to Taiwan, United Daily News cited Henry Lin, chairman of the Securities Investment trust and Consulting Association, as saying. Taiwanese capital is said to account for 13-14 percent of the total assets managed by financial institutions in Hong Kong and Singapore. Tseng Ming-chung, chairman of the FSC, has said the regulator will open up the domestic financial markets further to spur return of capital, the report said.

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