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Approved foreign exchange business in July 2018

Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                                                       Release Date: August 13, 2018

                                 

            Approved foreign exchange business in July 2018

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

1.    Far Eastern International Bank to engage in electronic transaction businesses involving foreign exchange.

2.    CTBC Bank to set up foreign currency ATMs with a new function of cash conversion between the New Taiwan dollar and foreign currencies.

3.    First Commercial Bank to provide digital foreign exchange deposit account opening service to customers.

4.    Bank SinoPac to engage in non-principal protected structured products composed of foreign currency commodity options linked to foreign currency principals.

5.    Taishin International Bank to issue a dollar-denominated senior unsecured note.

6.    MasterLink Securities to engage in spot foreign exchange transactions involving New Taiwan dollars related to the securities business.

7.    Grand Grace International 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.

8.    Four branches of three banks to operate foreign exchange business. As of the end of July 2018, there were 3,439 authorized banks, including 3,401 domestic banks, 3 Mainland banks, and 35 foreign banks.

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