Important Measures in May 2007
PRESS RELEASE Release Date: June 13 , 2007
Important Measures in May 2007
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank took the following measures in May 2007:
1.Approved the following authorized banks to operate new foreign exchange derivatives business:
(1) First Commercial Bank: Structured Products composed of NTD deposits linked with FCY PIMCO GIS Fund Index with CPPI technique.
(2)Societe Generale: New Taiwan dollar denominated structured products linked with ABN AMR/CAAM Fixed Income Fund and Jefferies Commodity Index.
2.The Bank allowed Calyon Corporate and Investment Bank, Taipei Branch to introduce Callable Foreign Exchange Forwards between foreign currencies via the negative list approach.
3.Authorized 2 branches of Taiwan Cooperative Bank to operate the full range of foreign exchange business. As of the end of May 2007, there were 1,163 authorized foreign exchange banks, including 1,100 domestic banks and 63 foreign banks. In addition, 5 branches of 2 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.