Approved foreign exchange business in October 2011
PRESS RELEASE Release Date: November 14, 2011
Approved foreign exchange business in October 2011
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. 3 authorized banks to conduct foreign exchange derivatives business by notifying the CBC after the commencement of business：
(1) Barclays Bank PLC to conduct FCY Dual Currency Structured Products composed of FCY Time Deposits and Sell Foreign Currency Options.
(2) Taishin International Bank to conduct FCY Structured Products composed of FCY Time Deposits link to FCY IRO, FCY IRS, FCY Interest Rate Swaptions and FCY Options.
(3) Taiwan Business Bank to conduct FCY Commodity Options.
2. 132 branches of 11 banking enterprises to operate foreign exchange business. As of the end of October 2011, there were 2,136 authorized foreign exchange banks, including 2,064 domestic banks and 72 foreign banks.