Regulatory Alerts2002-07-08
Added · Updated
Directions for the Conduct of Intraday Overdrafts of the Central Bank of the Republic of China (Taiwan)
The Central Bank of the Republic of China (Taiwan) establishes rules for intraday overdrafts available to domestic banks, foreign bank branches, Chunghwa Post Co., Ltd., trust investment companies, bills finance corporations, and other approved financial institutions. Eligible collateral is categorized into three classes with specific valuation methods, and overdraft limits are determined by the total value of pledged collateral. Interest rates are set at the Bank's accommodation rate for Classes 1 and 2 collateral, and 1.5 times that rate for Class 3 collateral, with penalty interest applied for late repayments. The Bank may suspend overdraft qualifications if an institution fails to repay for two consecutive business days or has had suspensions twice in the past year.
More like this from CBC
We email you every new CBC publication the day it's published.