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Approved foreign exchange business in May 2019

Central Bank of the Republic of China (Taiwan)

PRESS RELEASE                                                   Release Date: June 12, 2019              

Approved foreign exchange business in May 2019

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

1.    Taishin International Bank to issue foreign currency denominated negotiable certificate of deposits.

2.    Bank of Kaohsiung to engage in semi-discretionary and non-discretionary individually managed money trust business denominated in foreign currencies.

3.    Yuanta Commercial Bank and DBS Bank (Taiwan) to engage in foreign securities trading business provided such trading is neither an investment of proprietary funds nor done to meet hedging purposes.

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

5.    EnTie Commercial Bank and Bank SinoPac to provide digital foreign exchange deposit account opening service to customers.

6.    TransGlobe Capital Management Co., LTD to act as the domestic trustee of private placement offshore funds to manage the sale of funds to specific clients.

7.    Three branches of one bank to operate foreign exchange business. As of the end of May 2019, there were 3,443 authorized banks, including 3,405 domestic banks, 3 Mainland banks, and 35 foreign banks.

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