Domestic Bank Foreign Currency Deposits Hit NT$15.4 Trillion in February, Setting a Record High

The Financial Supervisory Commission (FSC) stated that as of the end of February, the foreign currency deposit balance of domestic banks stood at NT$15.4019 trillion, setting a historical high. This is a monthly increase of NT$140.7 billion, primarily driven by factors such as corporate clients' revenue deposits (e.g., payments for goods, freight revenues, commercial intermediary trade service revenues), the repatriation of investment funds and overseas deposits, and capital allocation needs.

Excluding exchange rate factors, the FSC pointed out that when converted using the USD exchange rate of 31.251 at the end of February, foreign currency deposits at the end of February amounted to US$492.8 billion, also showing a monthly increase of US$7.9 billion.

According to FSC data, at the end of February this year, the "Trillion Dollar Club" of domestic bank foreign currency deposits still consists of six institutions. In order, they are CTBC Bank at NT$1.53 trillion, Bank of Taiwan at NT$1.26 trillion, Taipei Fubon Bank at NT$1.26 trillion, Mega Bank at NT$1.21 trillion, E.SUN Bank at NT$1.15 trillion, and First Bank at NT$1.12 trillion. (Editor: Huang Kuo-lun) 1150419