Taiwan banks accuracy warning
The circular was issued to banks last Tuesday (February 19) following a surprise audit of an undisclosed number of local banks' FX desks, which began the week before (February 11). The audit sparked speculation that the Central Bank of the Republic of China (Taiwan) would crack down on forwards transactions.
Spencer Lin, deputy director general of the Taiwanese central bank, told FX Week that contrary to press reports, the circular did not call for reservation in executing currency forwards or
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