Regulatory Alerts2000-02-24
Added · Updated
Directions Governing the Central Bank of the Republic of China (Taiwan) Special Financial Accommodations to the Central Deposit Insurance Corp., Ltd.
The Central Bank of the Republic of China (Taiwan) prescribes procedures for providing special financial accommodation to the Central Deposit Insurance Corporation (CDIC) pursuant to Article 20 of the Deposit Insurance Act. The CDIC must submit specific documentation, including liquidity evaluations and repayment plans, to the Ministry of Finance to negotiate financing terms with the Central Bank. Financing is secured by collateral such as government bonds or certificates of deposit, with any excess amount guaranteed by the national treasury subject to Executive Yuan approval if it exceeds the CDIC's net worth. The interest rate is set at the Central Bank's published floating rate for collateralized accommodations, and funds are allocated and repaid through designated accounts at the Central Bank.
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