Regulatory Alerts2025-01-15
Added · Updated
Directions Governing Banking Enterprises for Operating Foreign Exchange Business
Amended on January 15, 2025, these directions govern foreign exchange operations by authorized banks and other banking enterprises, requiring daily transaction reports and specific certificate issuance for export, import, remittance, deposit, loan, and guarantee businesses. The rules mandate accurate originator and beneficiary information for wire transfers, restrict foreign currency loans from conversion to New Taiwan dollars, and set operational standards for digital foreign currency deposits and automated service equipment. Non-authorized entities engaging in foreign currency cash and traveler's check sales must adhere to position limits and reporting obligations, while simplified declaration procedures are permitted for transactions under USD 5,000 at designated outlets.
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