The central bank yesterday punished four foreign banks for helping grain merchants speculate in New Taiwan dollar-deliverable forwards in contravention of foreign-exchange regulations.
In a statement issued on its Web site, the central bank said it has revoked the Deutsche Bank Taipei branch’s licenses to trade NT dollar deliverable forwards and NT dollar non deliverable forwards.
The branch has also been banned from foreign-exchange derivatives transactions for two years, the statement said.
The central bank has banned the Taipei branches of ING Bank NV and Australia & New Zealand Banking Group Ltd from trading NT dollar deliverable forwards and NT dollar non