Approved foreign exchange business in December 2015

In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:

1.    Bank SinoPac to engage in non-discretionary individually managed money trust and semi-discretionary individually managed money trust businesses denominated in foreign currencies.

2.    Bank of America Taipei Branch, Calyon Corporate and Investment Bank Taipei Branch, Industrial Bank of Taiwan, Cathay United Bank, Taichung Commercial Bank, Bank of Pan Shin, BNP Paribas Taipei Branch, First Bank, E. Sun Bank, Bank of Taiwan, ANZ (Taiwan) Bank, Taiwan Business Bank and KGI Bank to engage in electronic transaction businesses involving foreign exchange.

3.    Manulife Asset Management (Taiwan) Co., Limited to handle private placement of funds in foreign currencies (including Renminbi).

4.    Allianz Global Investors Taiwan Ltd. to act as the domestic trustee of private placement offshore funds to manage the sale of funds to specific clients.

5.    4 branches of 3 banks to operate foreign exchange business. As of the end of December 2015, there were 3,415 authorized banks, including 3,375 domestic banks, 3 Mainland banks and 37 foreign banks.