The Financial Supervisory Commission (FSC) has proposed amendments to Article 3 and Article 7 of the "Regulations Governing Issuance of NTD Bank Debentures by Foreign Bank Branches" in response to the issuance demands of NTD bank debentures by foreign bank branches in Taiwan, and requirements for consistent standards for evaluating the net worth of foreign bank branches in supporting the needs of bank debentures. The key points of the amendment are as follows:
1. Inclusion of the Agricultural Bank of Taiwan and postal service institutions engaging in fund deposit, transfer and exchange as buyers. (Article 3 of the amended articles)
2. The definitions of the "net worth" in Article 7, Paragraph 1 are amended and Paragraph 5 is added in response to the addition of Article 19-4 of the "Regulations Governing Foreign Bank Branches and Representative Offices" which allow foreign bank branches to include 50% of loan loss provision and reserves against liability on guarantees in net worth calculation. (Article 7 of the amended articles)
The proposed amendments will be published in the Executive Yuan Gazette, and, in addition, the FSC will post a general description along with a comparison chart of revised articles on its website. Anyone wishing to comment may visit the FSC website within 14 days after the date of the public announcement and submit comments by visiting FSC’s Laws and Regulations Retrieving System.
　
　Contact:Banking Bureau, Foreign Banks Division
　Tel:+886 (2)8968-9793
　If you have any questions, please send an email to:
http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx