Approved foreign exchange business in May 2013
PRESS RELEASE Release Date: June 13, 2013
Approved foreign exchange business in May 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, Oriental Securities Corp., HSBC Bank (Taiwan) Ltd. to underwrite Formosa Bonds.
2. 4 authorized banks to conduct foreign exchange derivatives business by notifying the Bank after the commencement of business without the Bank’s objection :
(1) Mizuho Corporate Bank Ltd.: FCY Commodity Swaps.
(2) Hwatai Bank: Principal Guaranteed feature and Value Added feature Structured Products composed of FCY Time Deposits links with FCY (including Renminbi ) Options .
(3) King's Town Bank: FCY Structured Products composed of FCY Time Deposits linked with FCY Options.
(4) Cathay United Bank: FCY Structured Products composed of FCY Time Deposits Linked with FCY Stocks (Stock Index) and Options.
3. 3 branches of DBS Bank (Taiwan) Ltd. to operate foreign exchange business. As of the end of May 2013, there were 3,293 authorized foreign exchange banks, including 3,255 domestic banks, 2 Mainland banks and 36 foreign banks.