Regulatory Alerts2004-05-12
Added · Updated
Directions for Issuance of Certificates of Deposit by the Central Bank of China
The Central Bank of China restricts the issuance and holding of its certificates of deposit to banks, investment trust companies, bills finance companies, Chunghwa Post Co., Ltd., and other approved financial institutions. These registered, book-entry instruments are issued at par with denominations of NT$5 million, NT$10 million, NT$50 million, and NT$100 million, carrying a maximum maturity of three years. Interest rates are determined by winning bids in competitive tenders or set by the Bank in non-competitive offerings, with principal and interest paid in a single payment upon maturity. Financial institutions may use these certificates as collateral for short-term accommodations or intraday overdrafts with the Bank's consent, and non-negotiable certificates require Bank approval for transfer.
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