Approved foreign exchange business in December 2012
PRESS RELEASE Release Date: January 14 , 2013
Approved foreign exchange business in December 2012
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Bank of Communications Taipei Branch to sell/buy Renminbi bills.
2. E. Sun Commercial Bank to underwrite Formosa Bonds.
3. Capital Gateway Investments to act as a domestic agent of private placement of offshore funds.
4. 6 branches of 2 banking enterprises to operate foreign exchange business. As of the end of December 2012, there were 3,249 authorized foreign exchange banks, including 3,198 domestic banks, 2 Mainland banks and 49 foreign banks.