Approved foreign exchange business in September 2009
PRESS RELEASE Release Date: October 12 , 2009
Approved foreign exchange business in September 2009
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. DWS Investment Co. to act as a single master agent for Deutsche Asset Management (Asia) Limited in offering and selling offshore funds in Taiwan.
2. Manulife Asset Management Co. to act as a single master agent for Manulife Asset Management （Asia）Co. in offering and selling offshore funds in Taiwan.
3. Barclays Bank, Taipei Branch and BNP Paribas, Taipei Branch to underwrite Formosa bonds.
4. 2 banks to conduct foreign exchange derivatives business via the negative list approach including:
(1)Industrial Bank of Taiwan：Foreign Exchange Credit Default Swaps.
(2)China Development Industrial Bank：FCY Commodity Swaps linked to FCY Commodity Options.
5. 17 branches of 6 banking enterprises to operate foreign exchange business. As of the end of September 2009, there were 1,448 authorized foreign exchange banks, including 1,352 domestic banks and 96 foreign banks. In addition, 5 branches of 3 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.