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Brief History

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Banking Bureau is one of the four bureaus under the Financial Supervisory CommissionFSC.

Brief History

l           The Bureau of Monetary Affairs was set up in July 1991 under the administration of Ministry of Finance (MOF) and was endowed missions to regulate the rapidly expanded banking industry in 1990s.

l           To cope with the evolution of our financial market, there is a need to consolidate the supervision of bank, securities firms and insurance companies in view of the group structure business model. The Legislative Yuan passed the Act Governing the Establishment and Organization of the Financial Supervisory Commission of the Executive Yuan on July 10, 2003, paved the legal base for the new consolidated agency-- Financial Supervisory Commission of the Executive Yuan (FSC), which inaugurated on July 1, 2004. The FSC combines the examination function from Central Bank of China and Central Deposit Insurance Corporation, and also integrates the MOF’s three previously existing supervisory bodies, which are Bureau of Monetary Affairs, Securities and Futures Commission, and Department of Insurance.

l           Since the inauguration of FSC, the Banking Bureau becomes one subordinate agency to FSC with the employees of more than 200 persons, and sustains its responsibility of banking supervision and regulation.

l           In accordance with the organizational reform of the Executive Yuan, the full name of Banking Bureau was renamed to “Banking Bureau, Financial Supervisory Commission” on July 1,2012.

 

Visitor: 21000   Update: 2014-06-23