Approved foreign exchange business in July 2021

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 and Shanghai Commercial and Savings Bank to issue foreign currency denominated negotiable certificate of deposits.

2. BNP Paribas Taipei Branch to engage in non-deliverable New Taiwan Dollar interest rate swaps (NDIRS) settled in foreign currency for professional institutional investors.

3. Taishin International Bank to authorize designated branches to recommend foreign exchange derivatives.

4. KGI Securities Investment Trust Co. Ltd. to handle private placement of funds denominated in foreign currencies (including Renminbi).

5. As of the end of July 2021, there were 3,464 authorized banks, including 3,426 domestic banks, 3 Mainland banks, and 35 foreign banks.