The Central Bank of Taiwan published its July 2025 approvals for foreign exchange-related business, authorizing a range of new activities and issuances by banks, securities firms, and an insurer as part of its policy to liberalize and internationalize the foreign exchange market. The approvals cover CTBC Bank issuing dollar-denominated senior unsecured structured notes linked to equity derivatives and Hua Nan Commercial Bank issuing a callable dollar-denominated senior unsecured structured note linked to interest rate derivatives. Fubon Life Insurance was authorized to conduct wealth management business involving foreign exchange. Mega International Commercial Bank, Chang Hwa Commercial Bank, Taiwan Business Bank, and Land Bank of Taiwan were approved to issue foreign currency denominated negotiable certificates of deposit. UBS AG Taipei Branch and Union Bank of Taiwan were approved to conduct foreign securities trading business provided it is neither proprietary trading nor for hedging purposes, while KGI Securities was authorized to conduct spot foreign exchange transactions related to its securities business. The Bank also approved three branches of two banks to operate foreign exchange business and reported that, as of end-July 2025, there were 3,449 authorized banks (3,409 domestic banks, three Mainland banks, and 37 foreign banks).
Central Bank of Taiwan 2025-08-12
Central Bank of Taiwan authorizes new foreign exchange and foreign securities activities and approves FX-linked issuances
The Central Bank of Taiwan has authorized new foreign exchange activities to liberalize and internationalize the market. Approvals include CTBC Bank and Hua Nan Commercial Bank issuing dollar-denominated structured notes, Fubon Life Insurance conducting foreign exchange wealth management, and several banks issuing foreign currency negotiable certificates of deposit. UBS AG Taipei Branch and Union Bank of Taiwan were approved for foreign securities trading, excluding proprietary trading and hedging.