Approved foreign exchange business in May 2016

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

1.   Bank of Taiwan to engage in non-discretionary individually managed money trust business denominated in foreign currencies.

2.   Financial Information Service Co. to engage in collection services and Taiwan Clearing House to engage in debit authorization in foreign currencies.

3.   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.

4.   To promulgate the application procedures and related requirements of foreign exchange business for Taiwan Stock Exchange, Taiwan Depository and Clearing Corporation and securities firms about ETF denominated in other foreign currencies.

5.   Taiwan Stock Exchange to engage in listing and matching of ETF denominated in  foreign currencies.

6.   Taiwan Depository and Clearing Corporation to engage in custody and book-entry transfer of foreign currency (including RMB) ETF.

7.   Janus Capital Taiwan Limited to act as the domestic trustee of private placement offshore funds to manage the sale of funds to specific clients.

8.   6 branches of 3 banks to operate foreign exchange business. As of the end of May 2016, there were 3,418 authorized banks, including 3,378 domestic banks, 3 Mainland banks and 37 foreign banks.