Regulators approve cooperation of BoC with 4 Taiwanese banks

Cooperation to include foreign exchange, trade finance, joint loans, interbank borrowing and staff exchanges.

Bank of China said on Sunday that it has received approval from local regulators to cooperate with four Taiwanese banks.

Zhao Rong, BoC spokesperson, said that the BoC is expecting to sign formal agreements with these four banks as soon as possible.

The four banks are First Commercial Bank, Bank of Taiwan, Mega Financial Holding Co., and Taiwan Cooperative Bank. 

The cooperation will cover foreign exchange, trade finance, joint loans, interbank borrowing and staff exchanges.

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