Approved foreign exchange business in December 2013
PRESS RELEASE Release Date: January 13, 2014
Approved foreign exchange business in December 2013
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. The Bank promulgated “Regulations Governing Foreign Exchange Business of Securities Enterprises” on December 26, 2013.
2. Cathay Securities Corp., and Citibank Securities (Taiwan) Ltd. to underwrite international bonds.
3. Grand Bills Finance Co. to engage in trading and investment of FCY bonds.
4. 1 branch of Bank of Taiwan to operate foreign exchange business. As of the end of December 2013, there were 3,356 authorized foreign exchange banks, including 3,317 domestic banks, 3 Mainland banks and 36 foreign banks.