Approved foreign exchange business in July 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 SinoPac to set up a domestic foreign exchange processing center to process relevant foreign exchange operations.

2.     Citigroup Global Markets Taiwan Securities Company Ltd. to commence trading foreign bonds as an agent.

3.     Cathay Securities to engage in non-discretionary individually managed money trust business denominated in NTD and foreign currencies.

4.     Shalu Branch of E. Sun Bank to operate foreign exchange business. As of the end of July 2016, there were 3,413 authorized banks, including 3,373 domestic banks, 3 Mainland banks and 37 foreign banks.