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FSC signs memorandum of understanding (MOU) with Texas Department of Banking

FSC and Texas Department of Banking recently signed an MOU that includes provisions governing such matters as information sharing, assistance with on-site examinations, cooperation in the supervision of cross-border establishments, and establishment by the two sides of a supervisory college. Now that the MOU has been signed, it will serve as the basis for stronger supervisory cooperation between the two sides. 
Taiwanese banks currently have 24 branches and three banking subsidiaries in the US. Among these, the Houston Branch of First Commercial Bank is supervised by the Texas Department of Banking (DOB). US banks, for their part, have five branches and one banking subsidiary in Taiwan.

The FSC have signed similar supervisory cooperation MOUs with State financial regulators of New York, California, Illinois and Washington in past years. After signing the MOU with the DOB, the FSC has completed the engagement of MOUs with financial regulators in US States where Taiwanese banks have established branches. 

Contact: Department of International Affairs
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  • Update: 2021-06-22