Approved foreign exchange business in September 2012
PRESS RELEASE Release Date: October 12, 2012
Approved foreign exchange business in September 2012
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 conduct transfers and outward remittances with a value equal to or over NT$500,000 through internet .
2. DWS Investments to handle public offers of funds in foreign currencies.
3.UBS AG to operate Structured Products with no less than 90% Principal Protection, composed of Foreign Currency Bond Fund Index (with pre-agreed ratio of foreign bond funds) Options and NTD deposits.
4. 8 branches of 2 banking enterprises to operate foreign exchange business. As of the end of September 2012, there were 3,208 authorized foreign exchange banks, including 3,157 domestic banks, 2 Mainland banks and 49 foreign banks.