Important Measures in July 2005
PRESS RELEASE Release Date: August 8, 2005
Important Measures in July 2005
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Central Bank of China (CBC) announced the following measures in July 2005:
1.Approved Barclays Bank, Taipei Branch to conduct NTD/FCY Options.
2.The following authorized bank began conducting foreign exchange derivatives business by notifying the CBC after the commencement of business:
Standard Chartered Bank, Taipei Branch: Structured products composed with NYD IRS, FCY IRS and FCY IRO.
3. Authorized 2 branches of Taiwan Cooperative Bank to operate the foreign exchange business. In addition, 1 non-authorized foreign exchange banks were approved to sell/buy foreign currency banknotes and traveler’s checks. As of the end of July 2005, there were 1,115 authorized foreign exchange banks, including 1,048 domestic banks and 67 foreign banks.