Important Measures in December 2007
PRESS RELEASE Release Date: January 14, 2008
Important Measures in December 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 December 2007:
1.Approved the following authorized banks to operate new foreign exchange derivatives business: (1)First Commercial Bank:Structured Products composed of NTD Time Deposit linked to FCY Interest Rate Index with CPPI technique. (2)Deutsche Bank, Taipei Branch:FCY Structured Products composed of FCY Loan linked to DMA Index.
2. Approved First Taisec Securities Investment Consulting Co. Ltd. to act as a single master agent for Northern Trust Fund Managers (Ireland) Ltd. in offering and selling offshore funds in Taiwan.
3.Approved Banc of America Securities Asia Ltd. to handle consigned trading of foreign securities.
4.Approved Paradigm Asset Management Co., and UBS to conduct Foreign Currency Discretionary Investment Business.
5. Authorized 7 branches of 3 banking enterprises to operate the full range of foreign exchange business. As of the end of December 2007, there were 1,210 authorized foreign exchange banks, including 1,149 domestic banks and 61foreign banks.