Central Bank of the Republic of China (Taiwan)

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Press Releases

Approved foreign exchange business in May 2018

Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                                     Release Date: June 12, 2018                                   

Approved foreign exchange business in May 2018

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

1.    Far Eastern International Bank to engage in semi-discretionary individually managed money trust business denominated in foreign currencies.

2.    Shanghai Commercial and Savings Bank to engage in non-discretionary individually managed money trust business denominated in foreign currencies.

3.    Mega International Commercial Bank and Land Bank of Taiwan to issue a US dollar-denominated senior unsecured note.

4.    KGI Bank to engage in principal protected structured products composed of foreign exchange rate options and foreign currency interest rate swaps linked to foreign currency principals.

5.    Yuanta Securities to engage in non-principal protected structured products composed of foreign currency trust fund swaps, foreign currency trust fund swaptions, and foreign currency trust fund options linked to foreign currency principals.

6.    First Securities Investment Trust Co., Ltd. to handle private placement of funds denominated in foreign currencies (including Renminbi).

7.    As of the end of May 2018, there were 3,432 authorized banks, including 3,394 domestic banks, 3 Mainland banks, and 35 foreign banks.