Regulatory Alerts2018-11-13
Added · Updated
Directions Governing Banking Enterprises for Operating Foreign Exchange Business
This document establishes operational requirements for authorized banks and other banking enterprises conducting foreign exchange activities, including export and import transactions, remittances, deposits, loans, guarantees, and trust funds. It mandates specific documentation, certificate issuance, and daily data reporting to the Central Bank of the Republic of China (Taiwan)'s Foreign Exchange Data Processing System, with a threshold of NTD 500,000 for foreign exchange settlement declarations. The regulations also define risk control measures for wire transfers, restrictions on foreign currency loan conversions, and procedures for digital deposit accounts and ATM services, effective from November 15, 2018.
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