Taiwan's RMB deposits down for 5th consecutive month

TAIPEI - The renminbi-denominated deposit balance of Taiwan's financial institutions totaled 310.3 billion yuan (about $48.3 billion) at the end of May, according to data released by the island's monetary authority Friday.

The figure was 4.3 billion lower than at the end of April, marking a decrease for the fifth consecutive month.

Of the deposit figure, 279.8 billion yuan is under the island's 66 authorized banks, while an additional 30.5 billion yuan is under 58 offshore banking units.

The amount of RMB settlements handled by the Taipei Branch of Bank of China in May was 324.3 billion yuan.