Approved foreign exchange business in June 2011
PRESS RELEASE Release Date: July 12, 2011
Approved foreign exchange business in June 2011
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Taiwan Shin Kong Commercial Bank Co., Ltd. to commence telephone banking business involving transfers FCY Deposits.
2. 2 authorized banks to conduct foreign exchange derivatives business via the negative list approach including：
(1) Taipei Fubon Commercial Bank Co., Ltd.：5 hybrid items of Principal Guaranteed FCY Structured Products composed of FCY Time Deposits linked with Foreign Currency Options and any combination of FCY IRS, FCY IRO, FCY Interest Rate Swaptions and 4 hybrid items of FCY Structured Products composed of Foreign Currency Options and any combination of FCY IRS, FCY IRO, FCY Interest Rate Swaptions.
(2) Citibank Taiwan Limited：Structured Account with a 70％ Principal Value Protections feature , Structured Gold Account with a 70％ Principal Value Protections feature.
3. 31 branches of 7 banking enterprises to operate foreign exchange business. As of the end of June 2011, there were 1,815 authorized foreign exchange banks, including 1,743 domestic banks and 72 foreign banks.