Regulatory Alerts2022-01-19
Added · Updated
Directions Governing Banking Enterprises for Operating Foreign Exchange Business
The document establishes operational requirements for authorized banks and other banking enterprises conducting foreign exchange activities, including export/import negotiations, remittances, deposits, loans, guarantees, and trust funds. It mandates specific documentation, certificate issuance, and daily or monthly data reporting to the Central Bank of the Republic of China (Taiwan)'s Foreign Exchange Data Processing System. The rules also define permissible counterparties, conversion restrictions, risk control measures for wire transfers, and procedures for digital accounts and automated service equipment.
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