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Amendments

Title：

Regulations Governing Borrowing or Lending Money in Connection with Securities Business by Securities Firms  CH

Amended Date： 2015.09.15 
Article Content Content Search Article No. Search Legal Basis Subordinate Legislation Amended Article Legislative History Chinese

Title： Regulations Governing Borrowing or Lending Money in Connection with Securities Business by Securities Firms(2009.07.22)
Date：
Article 8     Where a securities firm conducts securities business money lending and its customer uses securities it owns as collateral, that customer's financing period may not exceed sixth months; the ratio between the value of such collateral and the amount of money lending by the securities firm to that customer may not fall below a certain ratio.
    Prior to the expiration of the period in the preceding paragraph, a securities firm may, depending on the customer's credit standing, grant a one-time only extension of 6 months.
    Collateral referred to in paragraph 1 shall be limited to the following:
  1. Common stock of component companies of the Taiwan 50 Index, Taiwan Mid-Cap 100 Index, or Taiwan Technology Index; exchange-traded fund (ETF) beneficial interest certificates and common stock of the component companies of those funds, offshore ETFs.
  2. Common stock of MSCI Taiwan Index component companies as announced by Morgan Stanley Capital International (MSCI).
  3. Government strip bonds.
  4. Other collateral approved by the competent authority.
    A securities firm shall mark to market on a daily basis the ratio of collateral value to customer debt in each lending account; when that ratio is below the prescribed percentage, it shall immediately notify the customer to make up the difference by a deadline with collateral of the types prescribed in the preceding paragraph.
    The ratio referred to in paragraph 1 and the preceding paragraph shall be jointly drafted by TSEC and GTSM, and submitted to the competent authority for final approval.