Regulatory Alerts2006-05-15
Added · Updated
Directions for Bidding Certificates of Deposit Issued by the Central Bank of the Republic of China (Taiwan)
These Directions outline the procedures for eligible financial institutions, including banks, credit cooperatives, and investment trust companies, to bid for Certificates of Deposit issued by the Central Bank of the Republic of China (Taiwan). Bidding is conducted online for denominations of NT$5 million, NT$10 million, and NT$100 million, with each bidder limited to five bids and a maximum award of 20% of the total amount available, with pro rata allocation for identical rates with a minimum unit of NT$5 million. Winning bidders must transfer funds via the Interbank Funds System by the issue date, and the certificates can be used as collateral for the Bank's short-term accommodations or intraday overdrafts, requiring pledge cancellation by 12:00 noon one business day before maturity.
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