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Approved foreign exchange business in October 2018

Central Bank of the Republic of China (Taiwan)

 PRESS RELEASE                                                 Release Date: November 12, 2018

                             

Approved foreign exchange business in October 2018

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

1.    Taiwan Cooperative Bank to engage in non-discretionary individually managed money trust business denominated in foreign currencies.

2.    Mega International Commercial Bank to engage in semi-discretionary and non-discretionary individually managed money trust business denominated in foreign currencies.

3.    Taiwan Business Bank to issue a dollar-denominated senior unsecured note.

4.    DBS Bank(Taiwan) to provide digital foreign exchange deposit account opening service to customers.

5.    One branch of one bank to operate foreign exchange business. As of the end of October 2018, there were 3,443 authorized banks, including 3,405 domestic banks, 3 Mainland banks, and 35 foreign banks.

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