Approved foreign exchange business in September 2020

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 provide digital foreign exchange deposit account opening service to customers.

2. Farglory Life Insurance to conduct investment-linked insurance business in foreign currencies and foreign currency loans collateralized by insurance policies offered by the business.

3. SinoPac Securities to engage in principal protected callable structured products composed of foreign currency interest rate options linked to foreign currency principals.

4. KGI Securities Investment Trust Co. Ltd. and President Capital Management Corp. to conduct the foreign currency discretionary investment business.

5. Two branches of one bank to operate the foreign exchange business. As of the end of September 2020, there were 3,461 authorized banks, including 3,423 domestic banks, 3 Mainland banks, and 35 foreign banks.