Central Bank of the Republic of China (Taiwan)

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Press Releases

Approved foreign exchange business in October 2019

Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                               Release Date: November 13, 2019          

Approved foreign exchange business in October 2019

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

1.    Reappointment of Mega International Commercial Bank as the EUR settlement bank for the Foreign Exchange Interbank Clearing System.

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

3.    Standard Chartered Bank (Taiwan) to engage in non-deliverable foreign exchange forward (NDF) business between foreign currency and foreign exchange rate index, and non-deliverable cross-currency swap (NDCCS) business between foreign currency and foreign exchange rate index.

4.    Bank of Kaohsiung to authorize designated branches to recommend foreign exchange derivatives.

5.    DBS Bank (Taiwan) to engage in principal protected structured products composed of foreign currency commodity options linked to foreign currency principals.

6.    Cathay Securities Investment Consulting Co., Ltd. to conduct the foreign currency discretionary investment business.

7.    As of the end of October 2019, there were 3,455 authorized banks, including 3,417 domestic banks, 3 Mainland banks, and 35 foreign banks.