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Approved foreign exchange business in September 2018

Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                                              Release Date: October 12, 2018                    

Approved foreign exchange business in September 2018

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

1.    Bank of Kaohsiung to engage in NTD/FCY Cross Currency Swaps.

2.    Land Bank of Taiwan to offer foreign currency-denominated bonds and notes settlement and clearing services.

3.    Sunny Bank to engage in non-discretionary individually managed money trust business denominated in foreign currencies.

4.    PineBridge Investments Management Taiwan Ltd. and Invesco Taiwan Ltd. to handle public offers or private placement of funds denominated in foreign currencies (including Renminbi).

5.    Five branches of three banks to operate foreign exchange business. As of the end of September 2018, there were 3,442 authorized banks, including 3,404 domestic banks, 3 Mainland banks, and 35 foreign banks.

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