Approved foreign exchange business in June 2009
PRESS RELEASE Release Date: July 13, 2009
Approved foreign exchange business in June 2009
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. In line with Article 4 and Article 18-1 of Trust Enterprise Act regarding the business conduct of trust enterprises prescribed by the Financial Supervisory Commission, Executive Yuan, the Bank amended the text of Article 14 of Regulations Governing Foreign Exchange Business of Banking Enterprises on June 15, 2009.
2. The Credit Cooperative of Lu Kang and The Fifth Credit Cooperation of Taipei to sell/buy Renminbi banknotes.
3. Credit Suisse to conduct Structured Products composed of NTD NDF.
4. Taishin International Bank to conduct FCY Structured Products composed of FCY Time Deposits, FCY Interest Rate Swaps and FCY Commodity Options.
5. 23 branches of 6 banking enterprises to operate foreign exchange business. As of the end of June 2009, there were 1,407 authorized foreign exchange banks, including 1,307 domestic banks and 100 foreign banks.