Central Bank of the Republic of China （Taiwan）

 PRESS RELEASE                                                   Release Date: July 12, 2019

Approved foreign exchange business in June 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 Mizuho Bank Taipei Branch as the JPY settlement bank for the Foreign Exchange Interbank Clearing System.

2.     Shin Kong Commercial Bank to engage in non-discretionary individually managed money trust business denominated in foreign currencies.

3.     Taichung Commercial Bank Securities to conduct consigned trading of fore­­­ign securities involving receipts and disbursements settled in foreign currencies.

4.     Hua Nan Investment Trust Corp. to handle public offers or private placement of funds denominated in foreign currencies (including Renminbi).

5.     President Capital Management Corp. to conduct the foreign currency discretionary investment business.

6.     Seven branches of four banks to operate foreign exchange business. As of the end of June 2019, there were 3,450 authorized banks, including 3,412 domestic banks, 3 Mainland banks, and 35 foreign banks.