Approved foreign exchange business in September 2015
Central Bank of the Republic of China (Taiwan)
PRESS RELEASE Release Date: October 13, 2015
In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:
1. Authorized banks to provide online transfer setting of foreign deposit account for customers to engage in foreign exchange settlement against the New Taiwan dollar without visiting a banking enterprise in person.
2. Authorized banks to engage in foreign exchange settlement with an amount equal to or over New Taiwan Dollar 500,000 through fax service.
3. Far Eastern International Bank, King’s Town Bank and Bank SinoPac to issue foreign currency denominated negotiable certificate of deposits.
4. Citibank Taiwan Limited and Mega International Commercial Bank to be an investor clearing bank of foreign currency bonds and bills.
5. CIMB Securities Limited, Taipei Branch to conduct consigned trading of foreign securities involving receipts and disbursements settled in foreign currencies.
6. Horizon Securities and Deutsche Bank A.G. Taipei Branch to engage in proprietary trading of the foreign securities business provided such trading is neither an investment of proprietary funds nor done to meet hedging purposes.