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

CBC Interbank Funds Transfer System shall adopt “Real Time Gross Settlement Mechanism” (“RTGS Mechanism”) from September 16, 2002. In conjunction with the implementation of the new system, the “Directions for the Central Bank of the Republic of China (Taiwan) to Govern Electronic Interbank Funds Transfer and Settlement”, “Directions for Auditing Liquidity of Financial Institutions” and the “Directions for the Central Bank of the Republic of China (Taiwan) Accommodations to Banks” are amended and the “Directions for the Conduct of Intraday Overdrafts of the Central Bank of the Republic of China (Taiwan)” is promulgated as set out in the attachment. In addition, the “Standard Rate on Timely Completion of Daily Payments” is established and the “Standard for Processing Fees” is revised as detailed in the Explanations below. The afore-mentioned Directions will become effective on same date.

1.To be consistent with the adoption of the new system, the “Standard Rate on Timely Completion of Daily Payments” is announced and the “Standard for Processing Fees” is revised in accordance with Direction 47 and Direction 62 of the “Directions for the Central Bank of the Republic of China (Taiwan) to Govern Electronic Interbank Funds Transfer and Settlement”:

(1)Discount and Loan Section: 23571356, 23571366.

(2)Payment and Settlement Section: 23571387, 23571386.

2.Separately, all participating institutions shall observe the following guidlines:

(3)Cashier Sectiom: 23571340, 23571338.

(4)At the initial stages of implementation of the new system, Reserves Accounts B may not be used as collateral for intraday overdraft, i.e. the system will automatically set 0 percent under Account B for collateral for intraday overdraft.

3.The CBC’s contact persons and telephone numbers are as follows: