Approved foreign exchange business in June 2012
PRESS RELEASE Release Date: July 12 , 2012
Approved foreign exchange business in June 2012
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Banco Bilbao Vizcaya Argentaria S. A., Taipei Branch to conduct NTD/FCY CCS and Non-Delivery Forward ( NDF).
2. AllianceBernstein to conduct foreign currency discretionary investment business.
3. Capital Gate Way Investment to act as a single master agent for Skandia Fund Management (Ireland) Limited in offering and selling offshore funds in Taiwan.
4. Kuo Hua Life Insurance to conduct non-investment-linked insurance business settled in foreign currencies and foreign currency loans secured by the same insurance policy.
5. 161 branches of 20 banking enterprises to operate foreign exchange business. As of the end of June 2012, there were 3,158 authorized foreign exchange banks, including 3,105 domestic banks and 53 foreign banks.