Approved foreign exchange business in May 2010
PRESS RELEASE Release Date: June 9, 2010
Approved foreign exchange business in May 2010
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. China Development Industrial Bank to conduct FCY Commodity Options via the negative list approach.
2. Taiwan Shin Kong Commercial Bank Co., Ltd. to commence OTC NTD Options.
3. Chinatrust Commercial Bank to underwrite Formosa Bonds.
4. 9 branches of 4 banking enterprises to operate foreign exchange business. As of the end of May 2010, there were 1,540 authorized foreign exchange banks, including 1,474 domestic banks and 66 foreign banks. In addition, 3 branches of 2 banking enterprises were approved to sell/buy foreign currency banknotes and traveler’s checks.