Approved foreign exchange business in April 2009
PRESS RELEASE Release Date: May 13, 2009
Approved foreign exchange business in April 2009
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. The Tamsui Credit Cooperative to sell/buy Renminbi banknotes.
2. a number of authorized banks to conduct foreign exchange derivatives business via the negative list approach including：
(1) China Development Industrial Bank: FCY Commodity Options.
(2) Taipei Fubon Commercial Bank Co., Ltd.: FCY Structured Products composed of FCY Time Deposits linked to FCY Interest Rate Swaps, FCY Interest Rate Options and FCY Interest Rate Swaptions.
3. Fuh Hwa Securities Investment Trust Co., and Hua Nan Investment Trust Co. to conduct discretionary foreign currency investment business.
4. 15 branches of 5 banking enterprises to operate foreign exchange business. As of the end of April 2009, there were 1,363 authorized foreign exchange banks, including 1,264 domestic banks and 99 foreign banks. In addition, 7 branches of 2 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.