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

Ⅱ.　　Application and Management

Section 1:　　Financial institutions

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.