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OREANDA-NEWS. Fitch Ratings has today affirmed Barclays Bank plc, Taipei Branch's (Barclays Taipei) National Long-Term Rating of 'AA+(twn)' and National Short-Term Rating of 'F1+(twn)'. At the same time, Fitch is withdrawing the ratings as the branch is in the process of winding down its business and will close in 2017. Accordingly, Fitch will no longer provide ratings or analytical coverage for Barclays Taipei.

Barclays Taipei's ratings are tied to those of Barclays Bank plc (Barclays Bank, A/Stable). The ratings of Barclays Taipei capture its legal status as a branch of Barclays Bank and the highly-integrated nature of its operations with the head office. Under Taiwanese regulations, the head office has a legal obligation to support any liquidity needs that a branch is not able to cover on its own as well as to meet the regulatory minimum capital requirement.