Approved foreign exchange business in August 2009
PRESS RELEASE Release Date: September 14, 2009
Approved foreign exchange business in August 2009
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Yuanta Commercial Bank Co. Ltd. to commence internet banking business involving foreign exchange with a value equal to or over NT$ 500,000.
2. BlackRock Securities Investment Consulting Co. to act as offshore funds’ domestic trustees to manage the sale of funds to specific clients privately.
3. Yuanta Securities Investment Consulting Co. to conduct foreign currency discretionary investment business.
4. 14 branches of 4 banking enterprises to operate foreign exchange business. As of the end of August 2009, there were 1,431 authorized foreign exchange banks, including 1,340 domestic banks and 91 foreign banks. In addition, 3 branches of 3 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.