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Press Releases

Approved foreign exchange business in September 2016

Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                                                 Release Date: October 12, 2016                         

Approved foreign exchange business in September 2016

In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:

1.    Taishin International Bank to provide trust-type discretionary investment in foreign-currency denominated securities.

2.    King’s Town Bank, Sumitomo Mitsui Banking Corporate Taipei Branch, Standard Chartered Bank (Taiwan), CTBC Bank and HSBC Bank (Taiwan) to engage in electronic transaction businesses involving foreign exchange.

3.    PineBridge Investments Management Taiwan Limited to act as the domestic trustee of private placement offshore funds to manage the sale of funds to specific clients.

4.    4 branches of 4 banks to operate foreign exchange business. As of the end of September 2016, there were 3,420 authorized banks, including 3,380 domestic banks, 3 Mainland banks and 37 foreign banks.