Regulatory Alerts1997-03-31
Added · Updated
Directions for the Central Government Bond Principal and Interest Payment and Stop Payment System
The Central Bank of the Republic of China (Taiwan) prescribes operational procedures for the payment of central government bond principal and interest and the reporting of lost certificates. Banks must verify certificate authenticity against specimen marks, enter serial numbers into the System to check for stop-payment status, and handle duplicate serial numbers or forgeries by contacting previous redeeming banks or notifying police. Procedures for stopping payment require examination of applications, public announcements for registered certificates, and submission of notices to the Central Bank's Treasury Department. The directions also mandate daily reconciliation of redemptions, six-monthly submission of bond lists for auditing, and specific manual handling protocols during System malfunctions or government work holidays.
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