Approved foreign exchange business in October 2009
PRESS RELEASE Release Date: November 12, 2009
Approved foreign exchange business in October 2009
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. E. Sun Bank to issue and amend LC through internet instructions.
2. First Commercial Bank to accept Foreign Currency Margin e-trading instructions.
3. International Bills Finance Corp. to accept Formosa Bonds Trading Business.
4. Bank SinoPac to offer Structured Products composed of FCY Commodity Prices Swaps linked to FCY Commodity Options via the negative list approach.
5. 14 branches of 6 banking enterprises to operate foreign exchange business. As of the end of October 2009, there were 1,462 authorized foreign exchange banks, including 1,366 domestic banks and 96 foreign banks. In addition, 4 branches of 3 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.