The Central Bank of the Republic of China, known as the Central Bank of China until a 2007 renaming, is Taiwan's monetary authority. It was established in 1924 in Guangzhou to serve mainland China's Nationalist government, relocated to Taiwan after the Chinese Civil War, and assumed control of banknote issuance from the Bank of Taiwan in 1961, its original archives having been lost when the steamer Taiping sank during the transition. Headquartered in Taipei's Zhongzheng District and operating under the Executive Yuan, the bank manages the New Taiwan dollar and carries out the standard central-banking functions of banking oversight, foreign exchange management, and treasury operations.
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