Approved foreign exchange business in November 2011
PRESS RELEASE Release Date: December 12, 2011
Approved foreign exchange business in November 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) Ta Chong Bank Ltd. to conduct FCY Commodity Swaps.
(2) Jih Sun International Bank to conduct 100% Principal Protection FCY Structured Products composed of FCY Deposits linked to FCY Options.
(3) DBS Bank Ltd., Taipei Branch to conduct Commodity Forward Agreements.
2. 67 branches of 11 banking enterprises to operate foreign exchange business. As of the end of November 2011, there were 2,203 authorized foreign exchange banks, including 2,131 domestic banks and 72 foreign banks.