Approved foreign exchange business in November 2016

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

1.    Chang Hwa Commercial Bank to engage in principal protected structured products composed of foreign currency interest rate swaps linked to foreign currency principals.

2.    Aberdeen International Securities Investment Consulting Company Ltd. and UBP TransGlobe Securities Investment Consulting Co., Ltd. to act as the domestic trustee of private placement offshore funds to manage the sale of funds to specific clients.

3.    One branch of one bank to operate foreign exchange business. As of the end of November 2016, there were 3,426 authorized banks, including 3,388 domestic banks, 3 Mainland banks and 35 foreign banks.