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Position : Laws and Regulations >> Directions for Reporting Interest Rate Information by Financial Institutions

Directions for Reporting Interest Rate Information by Financial Institutions

Prescribed on October 21, 1994
Amended on April 9, 1997


1. When changes in posted New Taiwan Dollar deposit interest rates, the prime lending rate or the revolving credit card interest rate, financial institutions shall, prior to the rate changes taking effect, report to the Central Bank of China (hereafter referred to as "the Bank") the particulars of the rate changes by the following means:

(1) Those financial institutions that are linked with the Bank's "Computer Communication Services System" shall utilize the online operating system and submit reports in accordance with the provisions contained in the Information Management Office of the Bank's "Communication Standards and Operations Handbook."

(2) Those financial institutions that are not linked with the Bank's "Computer Information Services System" shall utilize the "Table for changes in Posted Interest Rate of Financial Institutions" (see attachment) and submit their reports via telephone facsimile.

(3) Grassroots financial institutions shall first report [interest rate fluctuations] to the Taiwan Cooperative Bank, which shall compile the reports for submission to the Bank.

 

2. The operations time for financial institutions to electronically file [online] interest rate information reports with the Bank shall be from 8:30 a.m. to 6:30 p.m., from Monday through Friday, and from 8:30 a.m. to 1:30 p.m. on Saturday.

 

3. The operations time for the Bank to transmit interest rate information to media organizations through Taipei Negotiable Instruments Clearinghouse shall be from 8:30 a.m. to 5 p.m., from Monday through Friday, and from 8:30 a.m. to 12 p.m. on Saturday.

(Remarks : This Act is made in Chinese which shall prevail in case of any discrepancy between the English translation and the Chinese original.)


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:::updated:2007/2/12
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