Approved foreign exchange business in February 2013
PRESS RELEASE Release Date: March 19, 2013
Approved foreign exchange business in February 2013
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Chinatrust Commercial Bank to issue and sell Renminbi financial debenture in Taiwan.
2. Far Eastern International Bank to conduct foreign exchange settlements with values less than New Taiwan Dollars 500,000 and transfers between foreign currency accounts with no limits through cell phone web browsing.
3. Dah Chung Bills Finance Corp., to engage in trading and investment of FCY Formosa Bonds.
4. Chaoyang Life to conduct non-investment-linked insurance business settled in foreign currencies and foreign currency loans secured by the same insurance policy.
5. 2 branches of Bank of Taipei to operate foreign exchange business. As of the end of February 2013, there were 3,271 authorized foreign exchange banks, including 3,220 domestic banks, 2 Mainland banks and 49 foreign banks.