Approved foreign exchange business in July 2013
PRESS RELEASE Release Date: August 12, 2013
Approved foreign exchange business in July 2013
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Bills finance firms to engage in foreign currency borrowing and foreign currency call loans with authorized foreign exchange banks and offshore financial institutions to fund foreign currency demand in conducting foreign currency fixed income business.
2. Chinatrust Securities Co. Ltd., to conduct consigned trading of foreign securities involving receipts and disbursements settled in foreign currency or New Taiwan dollars.
3. 17 branches of 6 banks to operate foreign exchange business. As of the end of July 2013, there were 3,319 authorized foreign exchange banks, including 3,280 domestic banks, 3 Mainland banks and 36 foreign banks.