Recently Taiwan's Financial Supervisory Commission, the main financial regulator, said it had approved applications submitted by Bank of China and Bank of Communications to establish branches in Taipei. The banks will only be allowed to engage in limited business in the country, e.g. can only accept deposits higher than NT$3 million (US$100,350), only provide corporate loans. Further, the banks will need to receive approval from Taiwan's central bank if they wish to engage in f/x.
Yesterday was the 7th Annual BFTF which was held at the Traders Hotel here in Singapore. The event featured around 20 international speakers, 8 sponsor/vendors and was attended by about 100 delegates. The event, although smaller than in previous years – and smaller than similar events, was excellent. I was expecting the conversations to be thought-provoking, but was genuinely impressed by some of the debates and discussions.