Taiwan’s Central Bank Reportedly Lifts Curbs on ING and ANZ

​Fazzaco learned that Taiwan’s Central Bank has reportedly lifted FX trading curbs on ING Group (ING), an Amsterdam-based financial services Giant, and Australia and New Zealand Banking Group Ltd (ANZ) following their punishment due to involvement in currency speculation.

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In February, four banks, including Deutsche Bank, ING, Citibank, and ANZ, were banned from trading Taiwan dollar deliverable forwards (DF) and non-deliverable forwards (NDF), and were prohibited from making forex derivative transactions for two years, for helping companies speculate in the foreign exchange market as the Taiwan dollar was moving higher against the U.S. dollar.

Whereas, reportedly, the central bank has shortened ING and ANZ’ punishment time, permitting them to resume Taiwan dollar deliverable and non-deliverable forwards trades since earlier this month. The sources said the bank had told them that they could apply for an early lifting of the restrictions if they implemented “improvement measures”.