The Central Bank of China
PRESS RELEASE Release Date: November 6, 2002




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Important Measures in October, 2002


In line with the policy of liberalization and internationalization, and for further development of foreign exchange business, the Central Bank of China (CBC) took the following measures in October, 2002:

1.Approved the following Authorized Banks to operate derivates business:

(1)JinSun International Bank operates Foreign Currency Equity Options business.

(2)Fubon Commercial Bank operates Foreign Currency Interest Rate Swaps business.

(3)Far Eastern International Bank operates Foreign Currency Cross Currency Swaps business as well as Foreign Currency Interest Rate Swaps business

(4)The Bank of Tokyo-Mitsubishi, Taipei Branch operates NTD/FCY Options business.

(5)Citibank, Taipei Branch operates Foreign Currency Structured Loans business which is composed of Foreign Currency Loans and Foreign Currency Options.

(6)Bank of America, Taipei Branch operates Foreign Currency Forward Options business.

(7)Deutsche Bank, Taipei Branch operates NT Dollar Structured Deposits business which is composed of NT dollar Time Deposits and Foreign Currency Options.

(8)China Development Industrial Bank commences the business of Foreign Currency Trust Funds Earmarked for Investment in Foreign Securities.

2.Authorized 4 branches of Chinatrust Commercial Bank to operate foreign exchange business. In addition, 16 non-authorized foreign exchange banks were approved to sell/buy foreign currency banknotes and traveler's checks. As of the end of October, there were 1,028 authorized foreign exchange banks, including 962 domestic banks and 66 foreign banks.