Regulatory Alerts2005-02-02
Added · Updated
Directions for Allocation and Operations of Emergency Home Reconstruction Loan Funds for Victims of the 921 Earthquake
The Central Bank of the Republic of China (Taiwan) allocates NT$100 billion to underwriting banks to provide long-term low-interest and interest-free financing to victims of the 921 Earthquake for purchasing new homes or rebuilding or repairing residences. Borrowers are limited to NT$3.5 million per household, with the first NT$1.5 million interest-free and amounts above that subject to a 3 percent fixed annual interest rate, which was lowered to 2 percent in 2003. The application period for loans runs from September 25, 1999, to September 24, 2000, with extensions allowed until February 4, 2006, if funds remain, while banks must apply for fund disbursement by October 24, 2001, with a final deadline of March 4, 2006.
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