For further liberalization, internationalization and development in foreign exchange business, the Central Bank of China has taken the following actions in April:

1.To approve the following Authorized Banks to run new foreign exchange financial business:

(1) to approve Taishin international Bank to operate"Cross Currency Swaps"business and "Interest Rate Swaps"business, both based on foreign currencies.

(2) to approve International Bank of Taipei to operate "Foreign Currency Structured Deposits"business which includes Foreign Currency Deposits linked with Foreign Currency Forwards, or Foreign Currency Options.

2. To authorize 5 branches of 4 domestic banks to operate foreign exchange business. At the end of April, there were totally 960 authorized foreign exchange banks, including 891 domestic banks and 69 foreign banks. In addition, 8 non-authorized foreign exchange banks were approved to sell/buy foreign currency banknote and traveler's check.