Approved foreign exchange business in December 2019

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

1. Taiwan Cooperative Bank, Cathay United Bank, Shanghai Commercial and Savings Bank, and Union Bank of Taiwan to provide digital foreign exchange deposit account opening service to customers.

2. Cathay United Bank to issue foreign currency denominated negotiable certificate of deposits.

3. MasterLink Securities to engage in semi-discretionary individually managed money trust business denominated in foreign currencies.

4. MasterLink Securities to issue Exchange Traded Notes tracking the performance of a foreign index.

5. Two branches of two banks to operate the foreign exchange business. As of the end of December 2019, there were 3,461 authorized banks, including 3,423 domestic banks, 3 Mainland banks, and 35 foreign banks.