Minister of Finance Yen Chin-chang (顏慶章) said yesterday that there was no planned "second wave" to the takeover of grass-roots financial institutions over the weekend.
"Rumors that certain financial institutions with positive net worth but with capital adequacy ratio lower than 8 percent will be listed as the second wave target are incorrect," the finance ministry said in a statement on Sunday.
Yen said that the ministry would, on a regular basis, request financial institutions with weak financial situations to improve.
Local media reported over the weekend that some financial institutions with a positive net worth but with a capital adequacy ratio lower than 8 percent will become the target of a second wave of raids by the ministry. The finance ministry immediately denied the report.
"The financial reconstruction fund regulations stipulate that the target for the fund is those financial institutions with negative net worth, after adjustment by financial examination. All 36 grassroots financial institutions with negative net worth had been included [in the recent raid]."
The capital adequency ratio is a benchmark used by the financial sector to evaluate the soundness of a financial institution.
Despite the financial and social instability that they have created over the years, Chen Hsi-huang (
The 314 credit departments of the farmers' and fishermen's associations have been providing the agricultural community with services considered too trivial for banks to handle, Chen said.
The accumulated deposits at all credit cooperatives exceed NT$1.2 trillion, and the small loans extended by them amount to some NT$800 billion, Chen said.
Poland is betting on a flood of investments and technology transfers from Taiwanese companies to reengineer its US$1 trillion economy. Polish Prime Minister Donald Tusk said yesterday that Poland will no longer be “just an assembly hub” as it pursues further investments from the likes of Foxconn Technology Group (富士康). The firm, whose full name is Hon Hai Precision Industry Co (鴻海精密), last month agreed to build electric vehicles (EVs) in the European Union nation and now could be a partner in a semiconductor venture, he said. The government’s aim is to boost manufacturing and the country’s high-tech chops in an era
Taiwan remained the sixth-largest net creditor nation in the world last year, despite a fall of more than 10 percent in its net international investment position (NIIP) over the year, the central bank said yesterday. The NIIP is the difference between a country’s external financial assets and its external financial liabilities. Taiwan’s external financial assets hit US$3.27 trillion at the end of last year, up US$275.75 billion or 9.2 percent from a year earlier, the central bank said in its annual NIIP report. The growth largely reflected an increase in holdings of overseas marketable securities by residents in Taiwan, as well as a
RESTRICTION BREACH: ASML said that it denies ‘unfounded rumors regarding non-compliance with export controls concerning China,’ and enforces controls strictly US Secretary of Commerce Howard Lutnick in a series of recent meetings outlined concerns to Dutch chip-equipment giant ASML Holding NV’s senior leaders that one of its top-of-the-line machines might have made its way into China, in violation of US-led export restrictions. In the meetings, Lutnick expressed concern to ASML executives over the company’s extreme ultraviolet lithography (EUV) machines, people familiar with the talks said. EUV systems are used by firms such as Taiwan Semiconductor Manufacturing Co (台積電) to manufacture processors for the likes of Nvidia Corp and Apple Inc. ASML has never been allowed to ship them to China because of curbs
BAD FAITH LITIGATION? The two companies, owned by a California-based private equity firm, could be seeking licensing fees or a settlement payout with the suit Taiwan Intellectual Property Office (TIPO) Director-General Liao Cheng-wei (廖承威) said yesterday he suspected that two firms suing contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) for patent infringement are “patent trolls.” A patent troll refers to a company that buys patents not for manufacturing products, but to sue other companies for compensation, accusing them of using its patents. Patent trolls, formally called Non-Practicing Entities or Patent Assertion Entities, were responsible for more than 50 percent of lawsuits in the US last year, costing targeted businesses tens of billions of US dollars a year, according to the US-based LegalCharity Web site. Asked whether
RSS