The Central Bank has made preparations to allow offshore banking units (OBUs) to handle trans-actions involving the Chinese yuan, Central Bank of China Governor Perng Fai-nan (彭淮南) said yesterday.
Perng made the remarks during a press conference that unveiled the new versions of the NT$500 and NT$1,000 banknotes scheduled to go into circulation from July 20.
Perng was responding to a call by Taiwan Electrical and Electronic Manufacturers Association (電電公會) chairman Rock Hsu (許勝雄) on Tuesday for the bank to open up a space for OBUs to undertake yuan transactions.
Perng said he had called Hsu to say "we are ready" and was now waiting for the green light from the Cabinet.
An offshore banking unit is an entity that serves as an intermediary for financial transactions between non-resident borrowers and lenders.
Perng also put on display the new versions of the NT$500 and NT$1,000 bills, which have new and improved features to prevent forgery.
The new NT$500 banknote is a darker brown color, while the new NT$1,000 note remains the same blue color.
The current versions of the NT$500 and NT$1,000 banknotes will remain in circulation for another two years.
After two years, the public can take the old bills to the Bank of Taiwan to exchange them for new ones.
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