Taiwan Central Bank Promotes Hui-Heng Tao to Head Banking Department

The central bank's Department of Banking oversees open-market operations, financial institutions' reserve requirements and liquidity management, making it a key unit for implementing monetary policy. Its direct influence on market liquidity and interest rates has earned it a reputation as the bank's most important department. The change in leadership is therefore central to continuity in policy execution and financial-market operations.

The central bank announced the appointment on the 25th. Incumbent Director General Feng-Ying Hsieh will retire on July 16 upon reaching the mandatory retirement age. Following approval by a joint meeting of the bank's board of directors and supervisors, Deputy Director General Hui-Heng Tao will be promoted to director general effective July 16. The personnel change involves no transaction amount.