Taiwan to allow foreign banks to deal in NDFs in latest financial market reform

April 21, 2015 10:34 AM

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TAIPEI, April 21 (Reuters) - Taiwan plans to allow the local subsidiaries of foreign banks to deal in non-deliverable forward contracts (NDFs) denominated in new Taiwan dollars, in the latest step toward opening up the island's financial market.

Designated banks in Taiwan will also be able to issue negotiable certificates of deposit in foreign currencies, the Central Bank of the Republic of China (Taiwan) said on Tuesday.

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