Regulatory Alerts2000-04-21
Added · Updated
Directions Governing Loans Extended by Financial Institutions Using the Central Bank's NT$100 Billion Earthquake Reconstruction Loan Fund
The Central Bank mandates that for financial institutions other than the originally specified 105, disbursements from the NT$100 billion fund are limited to interest payment subsidies, prohibiting principal disbursements for home purchase, reconstruction, or repair loans. Victims who previously applied for principal and interest deferral under Ministry of Finance directions may switch to loan assumption or interest subsidies, with relief retroactive to February 5, 2000. The maximum loan amount per family is increased to NT$3.5 million, allowing applicants to request additional funds based on appraisal value, while multiple owners of damaged homes may apply for separate loans up to NT$3.5 million for purchase/reconstruction or NT$1.5 million for repair. Repayment of balances exceeding NT$1.5 million requires paying the higher interest portion first, and grassroots financial institutions must defer principal and interest payments for the first three years of new loans.
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