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

Unless otherwise provided by these Regulations or other laws and regulations, domestic and foreign banks within the territory of the Republic of China that apply to the Bank for engaging in foreign exchange business (hereinafter referred to as authorized banks) shall comply with the following provisions:

1.Domestic banks shall: (1)Maintain capital to risk-weighted assets ratio at 8% or above; (2)Deploy sufficient experienced personnel for conducting foreign exchange business; (3)Participate in joint processing of foreign exchange business with other authorized banks for an accumulated amount up to United States dollars 400 million or up to 7,000 transactions; and (4)Maintain a sound financial position for the last three years.

2.Foreign banks shall be approved by Financial Supervisory Commission, Executive Yuan (hereinafter referred to as "FSC") to establish branches in Taiwan.

When a bank applies to FSC for establishing a foreign department to engage in foreign exchange business, FSC shall forward the application to the Bank to review qualifications prescribed in Subparagraph 1 of the preceding Paragraph.

Foreign banks approved to engage in foreign exchange business within the territory of the Republic of China may remit inwardly or outwardly capital or working capital only after having obtained a separate approval from FSC.