Important Measures in July 2007
PRESS RELEASE Release Date: August 13, 2007
Important Measures in July 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 July 2007:
1. Approved Chang Hwa Commercial Bank to commence internet banking business involving foreign currencies.
2. Allowed the following authorized banks to conduct foreign exchange derivatives business via the negative list approach:
(1) Bank SinoPac: Structured Products composed of NTD Time Deposits linked with NTD Interest Rate Swaps, NTD Interest Rate Swaptions and Foreign Currency Equity and Equity Index Options.
(2) Fuhwa Commercial Bank: Structured Products composed of NTD Deposits linked with NTD Quanto Swap (composed of NTD IRS, FCY IRS, NTD IRO, FCY IRO, NTD IR Swaptions, FCY IR Swaptions )
3.Authorized 11 branches of 4 banking enterprises to operate the full range of foreign exchange business. As of the end of July 2007, there were 1,183 authorized foreign exchange banks, including 1,122 domestic banks and 61foreign banks. In addition, 9 branches of 4 banking enterprises were approved to sell/buy foreign currency banknotes and traveler's checks.