Loans to Southeast Asia fall by NT$9 76bn: FSC taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
Housing, construction loans continue to rise
By Kao Shih-ching / Staff reporter
Despite credit-tightening moves by the central bank, housing and construction loans climbed to NT$8.16 trillion (US$292.4 billion) and NT$2.87 trillion respectively in March, extending the previous month’s uptrend, data compiled by the Financial Supervisory Commission showed on Thursday.
Housing loans in March increased by NT$54.4 billion, or 0.6 percent, from a month earlier, easily outpacing February’s increase of NT$25.3, or 0.3 percent, the data showed.
Construction loans, an indicator of real-estate developers’ confidence in the sector, also grew at a faster pace in March, increasing by NT$23.2 billion, or 0.8 percent, compared with February’s gain of NT$18.1 billion, the data showed.
New cryptocurrency rules to take effect on July 1
NO MONEY LAUNDERING: Banking Bureau Deputy Director-General Lin Chih-chi said transactions of more than NT$500,000 conducted in cash would need to be reported
By Kao Shih-ching / Staff reporter
The Financial Supervisory Commission is to set up new money laundering regulations for the nation’s cryptocurrency exchanges from July 1, requiring them to report transactions valued at more than NT$500,000 (US$17,770), the commission said yesterday.
The move came after the Executive Yuan earlier this month demanded that the commission establish regulations to prevent money laundering in the cryptocurrency industry.
The cryptocurrency industry includes local trading platforms for cryptocurrencies, cryptocurrency wallet providers and firms that conduct security token offerings, the Executive Yuan said.
Mobile payments more than double to NT$240 7 billion taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
To revive the nation’s reverse mortgage policy, the Financial Supervisory Commission (FSC) said it would hold talks with the Ministry of Health and Welfare to optimize existing measures.
As the momentum of the policy had slowed over the past few years, the FSC aims to explore if it is possible to link the policy to social benefit programs, it said.
Newly approved reverse mortgages totaled NT$4.8 billion (US$169,575 million) last year, the lowest since the policy was launched in 2015, FSC data showed.
From 2016 to 2019, annual reverse mortgages were NT$6.2 billion, NT$5.5 billion, NT$5 billion and NT$5.8 billion respectively, it showed.
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