Important Measures in August 2008
PRESS RELEASE Release Date: September 12, 2008
Important Measures in August 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 August 2008:
1.Approved Sunny Bank, Cota Commercial Bank, Citibank, Bank of Panhsin, Chunghwa Post Co., The Shanghai Commercial & Savings Bank, Jih Sun International Bank to sell/buy Renminbi bills.
2.Approved Fubon Securities Co. and FundWisdom Securities Consulting Co. to act as offshore funds’ domestic trustees to manage the sale of funds to specific clients privately.
3.Allowed the following authorized banks to conduct foreign exchange derivatives business via the negative list approach:
(1) Taipei Fubon Commercial Bank：FCY Commodity Options.
(2) Taiwan Cooperative Bank： FCY Structured Products composed of FCY Time Deposits linked to FCY Commodity Options.
(3) ABN AMRO Bank：Structured Products composed of NTD Time Deposits linked to FCY Options.
4.Authorized 7 branches of 3 banking enterprises to operate the full range of foreign exchange business. As of the end of August 2008, there were 1,293 authorized foreign exchange banks, including 1,202 domestic banks and 91 foreign banks. In addition, 2 branches of 2 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.