Central Bank of the Republic of China （Taiwan）

PRESS RELEASE                           Release Date: October 14, 2019                

Approved foreign exchange business in September 2019

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

1.    Land Bank of Taiwan to issue foreign currency denominated negotiable certificate of deposits.

2.    Taiwan Business Bank to engage in non-discretionary individually managed money trust business denominated in foreign currencies.

3.    Cathay United Bank to engage in principal/non-principal protected callable/non-callable 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.

4.    Bank of Taiwan to provide digital foreign exchange deposit account opening service to customers.

5.    Jih Sun International Bank to engage in principal protected callable structured products composed of foreign currency interest rate swaps and foreign currency interest rate swaptions linked to foreign currency principals.

6.    UBP Asset Management Taiwan Ltd. to act as the domestic trustee of private placement offshore funds to manage the sale of funds to specific clients.

7.    Capital Investment Trust Corp. to offer futures trust funds denominated in foreign currencies.

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