Important Measures in December 2005
PRESS RELEASE Release Date: January 17, 2006
Important Measures in December 2005
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Central Bank of China (CBC) announced the following measures in December 2005:
1. Approved Citibank, Taipei Branch to commence foreign exchange business through internet instructions.
2. Approved Standard Chartered Bank, Taipei Branch to commence foreign exchange business through internet instructions.
3.Approved Bank of Panhsin to commence telephone banking business involving foreign currencies.
4.The following authorized banks began conducting foreign exchange derivatives business by notifying the CBC after the commencement of business:
(1) Central Trust of China: Structured Commodity products composed of NTD/FCY Time Deposits linked to Gold Options.
(2) Taipei Fubon Commercial Bank: NTD Structured products composed of NTD Quanto Swaps including NTD IRS, FCY IRS, FCY IRO, FCY Interest Rate Swaptions.
(3) Barclays Bank PLCFCY Swaps, FCY Options.
(4) Standard Chartered Bank, Taipei Branch: FCY Commodity Options.
5.Approved Shinkong Investment Trust CO. LTD, Sunrise Asset Management Co. Ltd. to handle public offer or private placement of funds in foreign currencies.
6. Approved 5 non-authorized foreign exchange banks to sell/buy foreign currency banknotes and traveler’s checks. As of the end of December 2005, there were 1,125 authorized foreign exchange banks, including 1,058 domestic banks and 67 foreign banks.