Approved foreign exchange business in July 2009
PRESS RELEASE Release Date: August 12, 2009
Approved foreign exchange business in July 2009
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Taichung Bank to commence internet banking business involving foreign exchange with a value equal to or over New Taiwan dollars 500,000.
2. Taiwan Shin Kong Commercial Bank to commence internet banking business involving foreign exchange with a value equal to or over New Taiwan dollars 500,000.
3. 2 banks to conduct foreign exchange derivatives business：
（1） Credit Suisse：NTD/FCY CCS.
（2） King’s Town Bank：FCY IRS and FCY Options.
4. Bank SinoPac to offer Structured Products （principal guaranteed）composed of FCY Time Deposits linked with buying FCY Commodity Options.
5. 11 branches of 4 banking enterprises to operate foreign exchange business. As of the end of July 2009, there were 1,419 authorized foreign exchange banks, including 1,318 domestic banks and 101 foreign banks. In addition, 2 branches of 2 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.