Approved foreign exchange business in December 2014
PRESS RELEASE Release Date: January 13, 2015
Approved foreign exchange business in December 2014
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. The authorized banks to offer interbank ATM foreign banknote withdrawal by debiting NTD accounts of ATM card holders.
2. BOA Taipei Branch to conduct structured product composed of foreign currency (including RMB) swap linked to foreign currency principal.
3. Bank of Taipei to engage in New Taiwan dollar non-delivery forward (NDF).
4. Taiwan Rakuten Card , Inc. to operate credit cards issuing business.
5. SinoPac Securities Corporation to engage in proprietary trading of foreign securities business provided such trading is neither an investment of proprietary funds nor done to meet hedging purposes.
6. DBS Bank (Taiwan) Ltd to underwrite foreign currency denominated international bonds.
7. One branch of Far Eastern International Bank to operate foreign exchange business. As of the end of December 2014, there were 3,407 authorized foreign exchange banks, including 3,368 domestic banks, 3 Mainland banks and 36 foreign banks.