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[Law Basis]
[Print]
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Article 1
These regulations are promulgated in accordance with article 9 of the Credit
Cooperatives Act.
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Article 2
Except as otherwise prescribed by law, the redeposit and accommodation of
credit cooperatives' funds shall be handled in accordance with these regulations
. Other relevant regulations shall apply to matters not included herein.
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Article 3
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The balance of surplus funds of each credit cooperative re-deposited with the Taiwan
Cooperative Bank (hereafter referred to as "the Cooperative Bank") prior to February
28, 1995 shall remain deposited with the Cooperative Bank and may be rolled over
upon maturity.
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The terms of the rollovers described in the preceding paragraph shall not exceed one
year, and the interest rates shall be calculated in accordance with the interest
rates posted by the Cooperative Bank. Amount not rolled over shall not be re-
deposited.
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Article 4
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Surplus fund other than that described in Article 3 shall be calculated by the
Cooperative Bank and rolled over or re-deposited in the following manner according
to the time sequence of the increase; the amount not rolled over or re-deposited
will not be reserved and may be re-deposited with other banks or credit cooperatives
:
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[Related Circulars]
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1.The amount originally re-deposited with the Cooperative Bank, Bank of Taiwan,
Taipei Fubon Bank or Bank of Kaohsiung in the period between February 28, 1995
and August 31, 2008, the effective date of the amendment of the Regulations, may
be rolled over or re-deposited with the Cooperative Bank or Bank of Taiwan upon
maturity of re-deposit, according to the term of deposit accepted by credit
cooperatives (hereafter referred to as the original deposit).
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2.Starting from the day after the amendment of the Regulations took effect on
August 31, 2008, fifty percent (50%) each of the increased surplus fund may be
re-deposited with the Cooperative Bank and Bank of Taiwan for a term as set forth
below:
(1) If the term of the original deposit is one year or longer, the term of the
re-deposit will be one year.
(2) If the term of the original deposit is less than one year, the term of the
re-deposit will be six months.
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The interest for the rolled-over deposit or re-deposit as described in
Subparagraph 1 or 2 of Paragraph 1 hereof shall be calculated in accordance with
posted interest rates of the Cooperative Bank and Bank of Taiwan.
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The maximum amount of the increased surplus fund as described in Subparagraph 2
of Paragraph 1 hereof shall be limited to the increased amount in the daily average
of the total amount of time deposits and time savings deposits of each credit
cooperative in the preceding month prior to making the re-deposits as compared to
the daily average of same types of deposits in May, 2008.
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Article 4-1
Whenever a credit cooperatives re-deposit its funds with banks or credit
cooperatives other than the designated banks, it shall set and submit re-deposits
regulations to its their board of directors for approval as the basis for the
rollover or re-deposit. The re-deposits regulations shall set the criteria on the
net-value (or members’equity), capital adequacy ratio, delinquency ratio, business
performance and financial status of the abovementioned depository institutions.
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Article 5
Credit cooperatives having a short-term need for funds may apply for
accommodations from the Cooperative Bank or other depository banks, and the
maximum accommodations amount shall not exceed the limits set by the Banking
Act.
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Article 6
Relevant rules regarding accommodation to credit cooperatives by the
Cooperative Bank, other redeposit taking banks and credit cooperatives shall
be established seperately and shall be reported to the Central Bank of the Republic
of China (Taiwan) (hereafter referred to as "the Bank") and the Financial
Supervisory Commission (hereafter referred to as "the FSC") for record.
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Article 7
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When a credit cooperative applies for an emergency funding, the Cooperative
Bank shall file a written report to the Bank for approval. The Bank shall make
a decision upon the consultation with the FSC. The maximum amount of the
accommodations shall be subject to external loan limit set by the resolution
of the credit cooperative's members meeting.
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The Cooperative Bank shall notify the competent local authority of the
accommodated credit cooperative when handling the emergency accommodations
described in the preceding paragraph.
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Article 8
For short-term emergency funding needs among credit cooperatives, the National
Federation of Credit Cooperatives R.O.C. may consult with the Cooperative Bank
and each credit cooperative, establishing a mechanism for mutual support of
emergency funds among credit cooperatives. An individual credit cooperative may
use its time re-deposits with the Cooperative Bank as collateral for emergency
accommdation. Such mechanisms shall be filed with the FSC and the Bank for record.
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Article 9
If a need for funds arises out of extending funding accommodations to credit
cooperatives, the Cooperative Bank may apply to the Bank for special
accommodations, in accordance with the Directions for the Central Bank of the
Republic of China (Taiwan)Accommodations to Banks.
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Article 10
The credit cooperatives' operations shall be guided by the Cooperative Bank or
other appropriate institutions mandated by the Competent Authority. The relevant
guidelines shall be promulgated by the FSC in consultation with the Bank.
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Article 11
These Regulations shall come into force on the date of promulgation.
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