The Central Bank of Taiwan reported that 4 million checks worth TWD 1.06 trillion were cleared in August, down 6.65% and 8.11% from the previous month, respectively. The declines primarily reflected one fewer business day than in July. Checks dishonored because of insufficient funds numbered 3,078, or 0.08% of cleared checks, unchanged from the previous month. Their value totaled TWD 3.8 billion and rose to 0.36% of cleared value, an increase of 0.07 percentage points, mainly because of more dishonored checks from accounts with aggregate dishonored values of at least TWD 100 million. Corporate accounts represented a larger share of dishonored check volume but a smaller share of value than in July, while personal accounts moved in the opposite direction.
Central Bank of Taiwan reports lower August check clearing and higher dishonored value ratio
The Central Bank of Taiwan reported that August check clearing fell to 4 million checks worth TWD 1.06 trillion, mainly because the month had one fewer business day than July. The dishonored check value ratio rose by 0.07 percentage points to 0.36%, driven by accounts with high aggregate dishonored values.