1. These Directions are prescribed pursuant to Article 27 of the Central Bank of China Act to governing the issuance of certificates of deposit by the Central Bank of China (hereafter referred to as “the Bank”).

2. The Bank's certificates of deposit shall be issued to and held only by banks, investment trust companies, bills finance companies, Chunghwa Post Co., Ltd., and other financial institutions as approved by the Bank.

3. The Bank's certificates of deposit shall be registered, and issued in book-entry form.

4. The Bank's certificates of deposit shall be in the denominations of NT$5 million, NT$10 million, and NT$100 million.

5. The Bank's certificates of deposit shall be issued at Par. Principal and interest shall be paid in a single payment upon maturity.

6. The Bank's certificates of deposit shall have a maximum maturity of three years, and may be transferable. Any certificates of deposit issued in non-transferable form shall not be transferred without the Bank's consent.

7. The Bank's certificates of deposit may be issued by competitive or non-competitive bidding. The interest rates on certificates of deposit issued by competitive bidding may be set in accordance with the winning bids, while the interest rates on non-competitive bidding certificates of deposit shall be set by the Bank.

Directions to governing the sale of certificates of deposit by tender shall be prescribed separately.

8. Financial institutions shall, with the Bank's consent, provide the Bank's certificates of deposit as collateral in applying to the Bank for short-term accommodations or intraday overdrafts.

9. The Bank's transferable certificate of deposit shall not be transferred until transfer procedures have been completed at the Bank's Banking Department.

﹝Remarks：These Directions are made in Chinese which shall prevail in case of any discrepancy between the English translation and the Chinese original.﹞