Regulatory Alerts2018-01-04
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 categories, establish authorization requirements for engaging in such activities, and set application qualifications, including capital ratios and personnel experience. The text specifies approval and reporting procedures for foreign exchange derivatives, foreign currency settlement banks, various trust businesses, and electronic transactions, while mandating data protection and personnel training standards.
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