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Summary: Primary Subject: Authorized Banks that accept certificates of foreign currency time deposits from customers as pledges for New Taiwan Dollar credit extension shall comply with Explanations 1 and 2. Open new window for Chinese

Ref. No:91.2.6.Tai-Yang-Wai-(7)-Tze No. 0000005505之2

Subject:

Authorized Banks that accept certificates of foreign currency time deposits from customers as pledges for New Taiwan Dollar credit extension shall comply with Explanations 1 and 2. Please take note.

Explanations:

1.The certificates of foreign currency time deposits held by customers are limited to:

(1)certificates of foreign currency time deposits solely ownedby the borrower; and

(2)certificates of foreign currency time deposits issued by the offshore banking unit of the same Bank to the domestic corporate customer’s overseas subsidiary.

2.If the borrower defaults, the settlement of the proceeds from the disposal of the certificates of foreign currency time deposits shall be handled in accordance with the “Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions”.

3.The CBC letter, dated August 26, 1995 (Ref. No. 84-Tai-Yang-Wai-(7)-Zi-Tzu-1672) shall be revoked from the issuance date of this letter.

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