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Central Bank of the Republic of China

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Approved foreign exchange business in July 2020

Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                                                         Release Date: August 13, 2020                            

Approved foreign exchange business in July 2020

In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Shanghai Commercial and Savings Bank to provide trust-type discretionary investment in foreign-currency denominated securities.
2. Land Bank of Taiwan and Shanghai Commercial and Savings Bank to issue foreign currency denominated negotiable certificate of deposits.
3. Bank of America Taipei Branch to commence trading foreign bonds as an agent.
4. As of the end of July 2020, there were 3,461 authorized banks, including 3,423 domestic banks, 3 Mainland banks, and 35 foreign banks.
 

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