Approved foreign exchange business in April 2018

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

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

2.    CTBC Bank to issue a dollar-denominated senior unsecured note.

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

4.    Taipei Fubon Commercial Bank to provide digital foreign exchange deposit account opening service to customers.

5.    Deutsche Far Eastern Asset Management Co., Ltd. and KGI Securities Investment Trust Co., Ltd to handle public offers of funds denominated in foreign currencies (including Renminbi).

6.    Two branches of two banks to operate foreign exchange business. As of the end of April 2018, there were 3,434 authorized banks, including 3,396 domestic banks, 3 Mainland banks, and 35 foreign banks.