Regulatory Alerts2005-11-07
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Directions for the Operation of Book-Entry Central Government Securities
The Central Bank of the Republic of China (Taiwan) establishes operational rules for book-entry central government securities, defining registration procedures, clearing bank qualifications, and settlement systems. Clearing banks must maintain a net worth of NT$15 billion, a capital-to-risk-based assets ratio of 8%, and a three-year average net profit ratio of 6% to qualify for appointment. The document mandates specific deadlines for subscription applications, fund payments, and interbank transfer cut-offs, while outlining requirements for intrabank trade registrations, lodgments, and restricted transfers.
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