Important Measures in June 2007
PRESS RELEASE Release Date: July 13, 2007
Important Measures in June 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 June 2007:
1.Approved JPMorgan Chase Bank, Taipei Branch to receive foreign exchange business instructions through internet.
2. Allowed the following authorized banks to conduct foreign exchange derivatives business via the negative list approach:
(1) China Development Industrial Bank: Foreign Currency Options on IRS (Swaption).
(2) Chinatrust Commercial Bank: Foreign Currency Structured Products composed of Foreign Currency Deposits linked with Foreign Equity (Equity Index) Swaps.
(3) Bank Of Overseas Chinese: Foreign Currency Structured Products composed of Foreign Currency Deposits linked with Foreign Currency Equity Swaps or Foreign Currency Equity (Equity Index) Options.
(4) The Bank Of Tokyo-Mitsubishi UFJ, Taipei Branch: Exotic Foreign Currency Options.
3.Authorized 8 branches of 2 banking enterprises to operate the full range of foreign exchange business. As of the end of June 2007, there were 1,171 authorized foreign exchange banks, including 1,110 domestic banks and 61foreign banks. In addition, 2 branches of 2 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.