Regulatory Alerts2003-09-15
Added · Updated
Regulations Governing the Audit and Adjustment of Deposit and Other Liability Reserves of Financial Institutions
These Regulations define the scope of deposit and liability reserves for financial institutions subject to the Banking Law, specifying exempt categories such as interbank and government deposits. They mandate that financial institutions maintain actual reserves in designated accounts, with the Bank of Taiwan and Taiwan Cooperative Bank acting as trustee institutions for specific entities. The rules establish a monthly calculation and maintenance period, requiring submission of reserve adjustment forms within six business days, and impose penalty interest at 1.5 times the unsecured short-term accommodation rate for shortfalls exceeding a 1% offset limit.
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