Regulatory Alerts2021-01-28
Added · Updated
Regulations Governing Foreign Exchange Business of Banking Enterprises
These Regulations govern the foreign exchange business of banking enterprises, including banks, the Agricultural Bank of Taiwan Corporation, credit cooperatives, credit departments of farmers' or fishermen’s associations, and Chunghwa Post. They define foreign exchange business, establish authorization and reporting procedures for engaging in such activities, and specify application qualifications, required documentation, and personnel qualifications. The text details specific requirements for foreign exchange derivatives, foreign currency settlement banks, and various trust businesses, while mandating data protection and confidentiality of customer information.
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