OREANDA-NEWS. April 21, 2015. In line with the policy of promoting the liberalization, internationalization, and development of the foreign exchange market, the Bank approved the following:

1.To simplify the application procedure for the electronic banking business of authorized banks.

2.CTBC Investments Co., Ltd. to conduct the foreign currency discretionary investment business.

3.KGI Securities to engage in spot foreign exchange transactions between foreign currencies related to the securities business.

4.Taiwan Cooperative Securities to engage in proprietary trading of the foreign securities business provided such trading is neither an investment of proprietary funds nor done to meet hedging purposes.

5.5 branches of 5 banks to operate foreign exchange business.

As of the end of March 2015, there were 3,414 authorized banks, including 3,375 domestic banks, 3 Mainland banks and 36 foreign banks.