Laws and Regulations Database of the Central Bank of the Republic of China(Taiwan)

17. Financial institutions participating in the "CBC Interbank Funds Transfer System" shall first submit by mail two copies of the "Application for Participation in the CBC Interbank Funds transfer and Settlement System" (Form 1) to the Department of Banking of the Bank.

18. After the Bank has issued a letter of approval, the institution shall proceed with the following preparatory measures:

(1) Designation of staff responsible for an operation plan.

(2) Drafting a schedule for the implementation of the online operation plan.

(3) Preparation of hardware and software for online operations as per specifications of the Department of Information Management of the Bank.

(4) Application to arrange online operation tests in accordance with testing plan outlined by the Department of Information Management of the Bank.

(5) Consultation with the Department of Information Management of the Bank on other matters relating to the establishment of online connections.

19. A financial institution shall become an online institution when the Department of Information Management of the Bank has confirmed the completion of error-free tests; the Department of Banking of the Bank will notify the official date for the commencement of operations.

The Department of Banking of the Bank will notify all other online Institutions when an institution becomes a new online institution in accordance with the preceding Paragraph.

20. An online institution shall appoint the following employees to perform work set forth in these Directions:

(1) One operations director and one deputy operations director, responsible for assigning duties, security control and connections with the Bank.

(2) A team of two to ten authorized transmission staffs, responsible for the verification and transmission of various fund transfers and corrections, as well as deposit, pledge, and cancellation of collateral.

(3) A certain number of data entry personnel, responsible for entering fund transfer data, corrections, and information for inquiries.

No personnel may concurrently serve in both the authorized transmission and data entry positions, nor can personnel in either of these two positions undertake security control.

21. An online institution shall submit the title, name, service unit, telephone number, and sample seal impression of the designated operation director and the deputy operation director referred to in Direction 20 in writing to the Department of Banking of the Bank; the same procedure shall be followed at the time of any change in the above positions.

The operation director referred to in the preceding Paragraph shall be issued a user ID and an initial password by the Department of Banking of the Bank, for the exclusive purpose of canceling the registrations of authorized transmission personnel. The operations director shall himself/herself transfer the user ID and password when a new operation director assumes the position.

22. An online institution shall compile and submit the titles, names, and service units of all authorized transmission personnel referred to in Direction 20 to the Bank in writing to apply for the issuance of an individual user ID and initial password for each employee; the said user ID and password shall be cancelled when an authorization is revoked.

Authorized transmission personnel issued with individual user IDs and passwords as specified in the preceding paragraph and the second paragraph of preceding Drection shall access the "update user password" field at an online institutions' workstation to change their passwords.

Where authorized transmission personnel leave the institution or are transferred to another post, cancellations of user IDs and passwords for such personnel shall be carried out by the online institution operations director by accessing the "cancel authorized transmission personnel" field on the online institution's workstation.

23. In carrying out the procedures regulated under these Directions, all online institutions shall establish rigorous security control and instruction manuals in order to prevent abuse.