Approved foreign exchange business in September 2010
PRESS RELEASE Release Date: October 12, 2010
Approved foreign exchange business in September 2010
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Cosmos Bank to conduct foreign currency account transfer through internet banking business.
2. HSBC Bank（Taiwan）Limited to conduct foreign-currency account transfer and non-discretionary NTD and foreign currency trust funds for investment in foreign securities through telephone service personnel.
3. Bank of Taiwan, Dah Chung Bills Finance Corp., Taiwan Cooperative Bank, International Bills Finance Corp., Mega International Commercial Bank, Taiwan Cooperative Bills Finance Corporation, Cathay United Bank, Hua Nan Commercial Bank and Grand Bills Finance Co. to certify, underwrite, broker and trade onshore foreign currency short-term bills.
4. Mega International Commercial Bank, Chang Hwa Commercial Bank, Hua Nan Commercial Bank and Bank of Taiwan to clear and settle onshore foreign currency short-term bills
5. 10 branches of 3 banking enterprises to operate foreign exchange business. As of the end of September 2010, there were 1,602 authorized foreign exchange banks, including 1,538 domestic banks and 64 foreign banks.