Regulatory Alerts2004-12-15
Added · Updated
Directions for the Operation of Book-Entry Central Government Securities
These Directions prescribe the management of book-entry central government securities, defining terms such as strippable bonds and STRIPS, and establishing the roles of the Central Bank, the Ministry of Finance, and clearing banks. Clearing banks must meet specific financial requirements, including a net worth of NT$15 billion and an 8% capital-to-risk-based-assets ratio, to handle registrations, fund clearing, and interbank transfers via the Central Government Securities Settlement System. The document sets operational deadlines for subscription bids, payment settlements, and interbank transfer cut-offs, while detailing procedures for intrabank trade registrations, lodgments, restricted transfers, and the revocation of pledges.
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