Approved foreign exchange business in March 2013
PRESS RELEASE Release Date: April 15, 2013
Approved foreign exchange business in March 2013
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Cathay United Bank to underwrite Formosa Bonds.
2. Chinatrust Commercial Bank to conduct foreign exchange settlements with values less than NTD 500,000 and transfers between foreign currency accounts with no limits through cell phone web browsing.
3. Bank of Taiwan to conduct foreign exchange settlements with values less than NTD 500,000 and transfers between foreign currency accounts with values equal to NTD 30,000,000 through cell phone web browsing.
4. Eastspring Investment Co. handle public offers or private placement of funds in foreign currencies (including Renminbi) .
5. 23 branches of 4 banking enterprises to operate foreign exchange business. As of the end of March 2013, there were 3,295 authorized foreign exchange banks, including 3,244 domestic banks, 2 Mainland banks and 49 foreign banks.