Approved foreign exchange business in December 2017

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

1.    Natixis Taipei Branch to engage in NTD non-delivery forward business.

2.    Bank SinoPac to engage in electronic transaction businesses involving foreign exchange.

3.    Hua Nan Commercial Bank to engage in principal protected structured products composed of foreign currency interest rate swaps and foreign currency interest rate options linked to foreign currency principals.

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