Approved foreign exchange business in October 2020

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

1. Shin Kong Commercial Bank to provide digital foreign exchange deposit account opening service to customers.

2. Jih Sun International Bank to engage in non-principal protected callable structured products composed of foreign currency equity options, foreign currency interest rate swaps, and foreign currency interest rate swaptions linked to foreign currency principals.

3. O-Bank to authorize designated branches to recommend foreign exchange derivatives.

4. Fubon Securities to engage in spot foreign exchange transactions involving New Taiwan dollars related to the securities business.

5. Two branches of one bank to operate the foreign exchange business. As of the end of October 2020, there were 3,462 authorized banks, including 3,424 domestic banks, 3 Mainland banks, and 35 foreign banks.