Approved foreign exchange business in November 2012
PRESS RELEASE Release Date: December 12 , 2012
Approved foreign exchange business in November 2012
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Cosmos Bank, Taiwan to conduct internet foreign exchange banking business with their customers through cell phone web browsing, and to confirm transaction details by fax instructions and telephone.
2. First Commercial Bank to conduct FCY commodity (price assessment published by PLATTS) swaps and options.
3. Taishin International Bank to conduct “Structured Products composed of FCY Time Deposits linked to Gold Options and Gold Accounts” and “ Structured Products composed of Gold Accounts linked to Gold Options”.
4. 28 branches of 7 banking enterprises to operate foreign exchange business. As of the end of November 2012, there were 3,244 authorized foreign exchange banks, including 3,193 domestic banks, 2 Mainland banks and 49 foreign banks.