Approved foreign exchange business in November 2009
PRESS RELEASE Release Date: December 14, 2009
Approved foreign exchange business in November 2009
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Cota Commercial Bank to commence internet banking business involving foreign exchange with a value equal to or over NT$500,000.
2. Land Bank of Taiwan to accept the applications for issuing FCY L/C through internet instructions.
3. China Bill Finance Corp. to offer Formosa Bonds Trading Business.
4. Standard Chartered Bank （Taiwan）Limited to issue the non-equity “Perpetual Sub-Debt (UT2) Notes” (total amount up to USD 452,300,000) offshore by private placement.
5. 3 branches of 2 banking enterprises to operate foreign exchange business. As of the end of November 2009, there were 1,464 authorized foreign exchange banks, including 1,368 domestic banks and 96 foreign banks. In addition, 2 branches of 2 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.