Regulatory Alerts2020-03-31
Added · Updated
Directions for the Central Bank of the Republic of China (Taiwan) Accommodations to Banks Inactive Regulations
The Central Bank of the Republic of China (Taiwan) amended these Directions to include refinancing for small and medium-sized enterprises affected by the COVID-19 pandemic and to extend provisions to trust and investment companies. The regulations specify rediscount limits, maximum terms of 90 days for industrial bills and 180 days for agricultural bills, and temporary advance limits capped at ten percent of required monthly reserves. Interest penalties of 1.2 times the published rate apply to temporary advances exceeding the monthly limit or requested in two consecutive months, unless the funds are used for monetary policy compliance. The amendments became effective on April 1, 2020.
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