The Central Bank of Taiwan published its March 2025 approvals for foreign exchange business, authorizing additional activities for two banks and a fund manager and approving one bank branch to operate foreign exchange business. The Shanghai Commercial & Savings Bank was approved to engage in foreign currency interest rate swaps, while CTBC Bank was approved to issue USD-denominated senior unsecured structured notes linked to equity derivatives. Amundi Taiwan Limited was approved to act as the local mandated agent of an offshore fund institution and to conduct private placements to specified counterparties. The central bank also approved one branch of one bank to operate foreign exchange business and reported that, as of end-March 2025, there were 3,455 authorized banks, comprising 3,415 domestic banks, three Mainland banks, and 37 foreign banks.
Central Bank of Taiwan 2025-04-14
Central Bank of Taiwan authorizes new foreign exchange activities including swaps, structured notes and an offshore fund agent mandate
In March 2025, the Central Bank of Taiwan authorized new foreign exchange activities, including approvals for Shanghai Commercial & Savings Bank to engage in foreign currency interest rate swaps and CTBC Bank to issue USD-denominated senior unsecured structured notes. Amundi Taiwan Limited was approved to act as a local mandated agent for an offshore fund institution and conduct private placements. Additionally, one bank branch was approved to operate foreign exchange business, with a total of 3,455 authorized banks reported by the end of March.