Important Measures in February 2007
PRESS RELEASE Release Date: March 15, 2007
Important Measures in February 2007
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the CBC announced the following measures in February 2007:
1.Approved Union Bank of Taiwan to operate NTD/FCY CCS.
2.Allowed China Development Industrial Bank to conduct Foreign Exchange Credit Default Swaps.
3.Approved Taishin International Bank to act as offshore funds' domestic trustee to manage the sale to specific clients privately.
4.Approved Primasia Securities Co., and Chung Nourn Securites Co., to handle consigned trading of foreign securities.
5.Approved 2 branches of 2 banks to sell/buy foreign currency banknotes and traveler's checks. As of the end of February 2007, there were 1,153 authorized foreign exchange banks, including 1,090 domestic banks and 63 foreign banks.