Approved foreign exchange business in January 2012
PRESS RELEASE Release Date: February 13, 2012
Approved foreign exchange business in January 2012
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1.To streamline the application procedures, the Bank notified the securities investment trust industry, securities investment consulting industry, futures industry and trust industry on January 30th 2012 that they can operate the NTD discretionary investment business without the approval of the Bank.
2. First Commercial Bank and Taiwan Business Bank to clear and settle onshore foreign currency short-term bills.
3. 98 branches of 16 banking enterprises to operate foreign exchange business. As of the end of January 2012, there were 2,427 authorized foreign exchange banks, including 2,373 domestic banks and 54 foreign banks.