Important Measures in September 2007
PRESS RELEASE Release Date: October 15, 2007
Important Measures in September 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 September 2007:
1.Allowed Taipei Fubon Commercial Bank to conduct FCY denominated structured products composed of FCY equity options and FCY equity swaps via the negative list approach.
2.Approved Shin Kong, ACE, Cardif and Metropolitan Life Insurance Co., to operate both investment-linked insurance business settled in foreign currencies and foreign currency loans secured by investment-linked insurance policy.
3.Approved 2 branches of 2 banks to sell/buy foreign currency banknotes and traveler’s checks. As of the end of September 2007, there were 1,187 authorized foreign exchange banks, including 1,126 domestic banks and 61foreign banks.