Important Measures in January 2008
PRESS RELEASE Release Date: February 19, 2008
Important Measures in January 2008
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank took the following measures in January 2008:
1. Allowed the following authorized banks to conduct foreign exchange derivatives business via the negative list approach:
(1) Yuanta Commercial Bank Co., Ltd. : Structured Products composed of FCY Interest Rate Swaps linked to FCY Interest Rate Options.
(2) Bank of Taiwan : Structured Products composed of NTD Time Deposits linked to FCY Options.
2. Approved Cathay United Bank to add internet banking business transaction item that customers can transfer their foreign currency deposits between current accounts and time deposit accounts.
3. Authorized 4 branches of 3 banking enterprises to operate the full range of foreign exchange business. As of the end of January 2008, there were 1,212 authorized foreign exchange banks, including 1,149 domestic banks and 63 foreign banks. In addition, 29 branches of 6 banking enterprises were approved to sell/buy foreign currency banknotes and traveler's checks.