Important Measures in June 2008
PRESS RELEASE Release Date: July 14, 2008
Important Measures in June 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 June 2008:
1. In order to coordinate with the relaxation of “Mini-Three-Links”, the Bank and the Financial Supervisory Commission have promulgated “Regulations on the Management and Settlement of Renminbi in Taiwan”, which came into effect from June 29, 2008.
2. Approved Merrill Lynch Taiwan Branch to commence buying or selling Foreign Bonds for clients.
3. Approved DWS Investments to act as offshore funds’ domestic trustee to manage the sale of funds to specific clients privately.
4. Allow the following authorized banks to conduct foreign exchange derivatives business via the negative list approach:
（1） First Commercial Bank: Foreign Currency Commodity Options.
（2） Taipei Fubon Commercial Bank: FCY Structured Products composed of FCY Time Deposits linked to Foreign Equity （Equity Index）Swaps and Options.
（3） Taiwan Cooperative Bank: Foreign Currency Commodity Options.
（4） Taishin International Bank: FCY Structured Products composed of FCY Time Deposits linked to FCY Interest Swaps.
（5） Bank SinoPac: FCY Structured Products composed of FCY Interest Swaps, FCY Interest Swaptions and FCY Equity Options.
（6） Jih Sun International Bank: FCY Interest Swaps.
5. Authorized 7 branches of 3 banking enterprises to operate the full range of foreign exchange business. As of the end of June 2008, there were 1,268 authorized foreign exchange banks, including 1,184 domestic banks and 84 foreign banks. In addition, 2 branches of 2 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.