Approved foreign exchange business in December 2009
PRESS RELEASE Release Date: January 12, 2010
Approved foreign exchange business in December 2009
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. 2 authorized banks to conduct foreign exchange derivatives business including：
（1）Oversea-Chinese Banking Corporation Ltd ：NTD/FCY Options.
（2）The Hongkong and Shanghai Banking Corp. Ltd.：Paper Gold Account denominated in foreign currencies, booked in ounces; Dual Currencies Structured Products composed of FCY Time Deposits linked to Gold Options Put and Paper Gold Account; Dual Currencies Structured Products composed of Paper Gold Account linked to Gold Options Call.
2. 2 authorized banks to conduct foreign exchange derivatives business via the negative list approach including：
（1） Taiwan Shin Kong Commercial Bank Co., Ltd.：Structured Products composed of FCY Time Deposits linked to FCY Options.
（2） Hua Nan Commercial Bank：Foreign Exchange Structured Products composed of FCY Time Deposits linked to FCY Commodity Prices(including Commodity Index) Swaps and Options.
3. 14 branches of 6 banking enterprises to operate foreign exchange business. As of the end of December 2009, there were 1,478 authorized foreign exchange banks, including 1,382 domestic banks and 96 foreign banks. In addition, 3 branches of 2 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.