Regulatory Alerts2020-03-20
Added · Updated
Directions Governing Designated Dealers for Open Market Operations
The Central Bank of the Republic of China (Taiwan) classifies designated dealers into general designated dealers and primary central government bonds dealers, establishing specific net worth, credit rating, and capital adequacy thresholds for banks, bills finance companies, securities companies, and Chunghwa Post Co., Ltd. to qualify. General designated dealers must participate in open market operations, offer two-way price quotations in the interbank call loan market, and submit audited annual financial statements within four months after the fiscal year ends. Primary central government bonds dealers are required to engage in auction bids, when-issued trading, and secondary market quotations for central government bonds while providing position and trading details to the Bank. The Bank may suspend or rescind dealership status if entities fail to meet qualification criteria or violate operational rules, and previously qualified dealers must re-apply to maintain their status.
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