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Summary： Interest on overdraft under RTGS mechanism will be charged beginning March 17, 2003.

Ref. No：2003.3.26 Tai-Yang-Ye-Tze No. 09200192851

Subject：

The CBC implemented the RTGS mechanism and intraday overdraft is free of interest within six months from the effective date. The six month period will expire on March 16, 2003. From March 17 (Monday), interest on overdraft will be charged.

Explanations：

In accordance with Article 18 of “Directions for the Conduct of Intraday Overdrafts of the Central Bank of the Republic of China (Taiwan)”, intraday interest rate on overdraft is charged by minute, to be based on the Rate on Accommodations with Collateral as announced by the CBC from time to time. Each financial institution shall settle the overdraft amount on the same day before the prescribed time. In addition, please execute payments before the prescribed time in accordance with the “Standard Rate on Timely Completion of Daily Payments”.

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