Bank of Taiwan

For the SBL basketball team, see Bank of Taiwan (basketball)

The Bank of Taiwan (Chinese: 臺灣銀行) is a government-owned bank in the Republic of China on Taiwan.

The Bank of Taiwan was first established as central bank of Taiwan during the Japanese rule. In order to assist the economic development, "Bank Act of Taiwan" was promulgated in 1897 and the Bank of Taiwan was established in 1899 to encourage Japanese private sectors, including Mitsubishi and the Mitsui Group, to invest in Taiwan. There was extensive cooperation between Nippon Kangyo Bank and Bank of Taiwan in Taiwan island. A banking crisis in 1927 was relieved with the assistance from Bank of Japan. During Japanese rule, branches were extended into other parts of the Empire, namely China and Southeast Asia.

After the Japanese surrender in 1945, the ROC government took over the Bank of Taiwan and issued the old Taiwan dollars, also known as Taiwan Nationalist Yuan, through the Bank of Taiwan. Later in 1949, the Bank of Taiwan issued the New Taiwan dollar to curb the severe deflation of the value of old Taiwan dollars. After the loss of the mainland in the Chinese Civil War by the Kuomintang and its subsequent retreat to Taiwan, the Bank of Taiwan took on a more central role as the central bank of the ROC until the Central Bank of China was reestablished in 1961. The Bank of Taiwan was governed under the Taiwan Provincial Government until 1998 when governance was transferred to the ROC Finance Ministry. In 2001, the duty of issuing New Taiwan dollars was transferred to the Central Bank of China.

External Links

• Official site
• Banking Crisis of 1927