For further liberalization, internationalization and development in foreign exchange business, the Central Bank of China has taken the following measures in June
Central Bank of China
PRESS RELEASE Release Date: July 7, 2001
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Important Measures in June
For further liberalization,internationalization and development in foreign
exchange business, the Central Bank of China has taken the following measures in
June:
1. To approve First Commercial Bank to operate Phone Banking business involving
foreign currencies.
2. To approve Bao Dao Commercial Bank , Land Bank of Taiwan , Union Bank of
Taiwan , The Hongkong & Shanghai Bank to operate Internet Banking business
involving foreign currencies.
3. To approve Hua Nan Commercial Bank to operate P.C. Banking business involving
foreign currencies.
4. To approve the following Authorized Banks to run derivatives business:
(1)Fubon Commercial Bank operates "Foreign Currency Trust Funds of Investing in
Foreign Securities" business.
(2)E. Sun Commercial Bank Ltd. operates "Foreign Interest Rate Swaps", "Foreign
Currency Cross Currency Swaps ", "Foreign Currency Margin Trading", "NT$/FCY
Cross Currency Swaps"business.
(3)Deutsche Bank AG Taipei Branch operates "NT Dollar Structured
Deposits"business which includes NT Dollar Deposits linked with Foreign Currency
Options.
(4)American Express Bank Ltd., Taipei Branch operates "Foreign Currency Trust
Funds of Investing in Foreign Securities"business.
(5)First Commercial Bank operates "Foreign Currency Structured Deposits
"business which includes 1.Foreign Currency Time Deposits linked with Foreign
Currency Options 2.Foreign Currency Time Deposits linked with Foreign Interest
Rate Options.
(6)The Tokai Bank Ltd., Taipei Branch operates "NT$/FCY Options"business.
5.To authorize 3 branches of 2 domestic banks to operate foreign exchange
business. In addition, 18 non-authorized foreign exchange banks were approved to
sell/buy foreign currency banknote and traveler's check. At the end of June,
there were totally 966 authorized foreign banks, including 897 domestic banks
and 69 foreign banks.