Approved foreign exchange business in November 2017

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

1.   Cathay United Bank to issue foreign currency denominated negotiable certificate of deposits.

2.   Bank of Taiwan to provide cardless foreign cash withdrawal through foreign currency ATMs.

3.   CTBC Bank and Far Eastern International Bank to engage in electronic transaction businesses involving foreign exchange.

4.   UBS Asset Management (Taiwan) Ltd. to conduct the foreign currency discretionary investment business.

5.   Three branches of two banks to operate foreign exchange business. As of the end of November 2017, there were 3,445 authorized banks, including 3,407 domestic banks, 3 Mainland banks and 35 foreign banks.