Approved foreign exchange business in September 2014
PRESS RELEASE Release Date: October 14, 2014
Approved foreign exchange business in September 2014
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. First Commercial Bank to conduct commodity index swap and option product linked to New Taiwan Dollar or foreign currency principal.
2. HSBC Bank (Taiwan) to operate corporate customer instruction through the “corporate customer online banking services- HSBCnet” and online declaration system, offering the corporate customer making a declaration of foreign exchange settlement with the value equal to or over New Taiwan Dollars 500,000 to the Bank.
3. Nomura International (Hong Kong) Limited Taipei Branch, UBS AG Taipei Branch and Taishin International Bank to underwrite foreign currency denominated international bonds.
4. First Securities to engage in proprietary trading of foreign securities business provided such trading is neither an investment of proprietary funds nor done to meet hedging purpose.
5. JP Morgan Bank Taipei Branch to commence trading foreign bonds as an agent.
6. 5 branches of Land Bank of Taiwan to operate foreign exchange business. As of the end of September 2014, there were 3,394 authorized foreign exchange banks, including 3,355 domestic banks, 3 Mainland banks and 36 foreign banks.