Regulatory Alerts1997-06-27
Added · Updated
Directions for Foreign Currency Funds Reaccommodations by the Central Bank of the Republic of China
The document establishes rules for authorized banks to obtain foreign currency fund reaccommodations from the Central Bank of the Republic of China (Taiwan) to support specific domestic investments and mergers. It sets a temporary total fund cap of US$10 billion, limits reaccommodation to 80% of the bank's credit extension per project, and restricts usage to U.S. Dollars with a maximum term of five years. Authorized banks must bear credit risk, ensure funds are not converted to New Taiwan Dollars, and monitor borrower fund flows to prevent misuse.
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