Approved foreign exchange business in May 2009
PRESS RELEASE Release Date: June 12, 2009
Approved foreign exchange business in May 2009
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Bank of Taipei and Keelung First Credit Cooperative to sell/buy Renminbi banknotes.
2. ABN AMRO Bank to conduct Structured Products composed of NTD Time Deposits linked to NTD IRO and FCY IRO via the negative list approach.
3. Franklin Templeton First Taiwan to conduct foreign currency discretionary investment business involving inward and outward remittances.
4. UBS Securities Investment Trust Corp. to act as offshore funds’ domestic trustees to manage the sale of funds to specific clients privately involving inward and outward remittances.
5. 21 branches of 7 banking enterprises to operate foreign exchange business. As of the end of May 2009, there were 1,384 authorized foreign exchange banks, including 1,284 domestic banks and 100 foreign banks.