Important Measures in October 2007
PRESS RELEASE Release Date: November 12, 2007
Important Measures in October 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 October 2007:
1.Allowed E. Sun Commercial Bank to conduct structured products composed of FCY deposits linked with FCY commodity options via the negative list approach.
2. Approved BNP Paribas to commence foreign exchange business through internet instructions.
3.Approved Allianz Life Insurance Co., to operate foreign currency loans secured by investment-linked insurance policy.
4. Approved Ta-Ching and Concord International Securities Co., to handle consigned trading of foreign securities.
5. Authorized 15 branches of 4 banking enterprises to operate the full range of foreign exchange business. As of the end of October 2007, there were 1,202 authorized foreign exchange banks, including 1,141 domestic banks and 61foreign banks. In addition, 10 branches of 5 banks were approved to sell/buy foreign currency banknotes and traveler's checks.