Taiwan

One lawmaker said the rules should be changed to make banks bear some responsibility for protecting customers from fraud while using their services.

Mega Bank and Huanan Bank were each fined TWD 4 million fine for internal control failures which allowed cashiers to misappropriate customer funds.

The local banking association is developing the climate-change stress tests, the content of which will be finalised by the end of this year.

Listed companies are required to disclose the relevant information, or explain why they cannot, within six months of the end of each fiscal year.

Borrowers that have difficulty repaying their loans can apply for a three to six month deferment. The deadline for applications is 30 June 2023.

The measures include shortening mortgage loan tenors from 30 to 20 years for corporate buyers and owners of multiple homes.

Taiwan Depository Clearing Corp is will establish and operate a centralised domestic fund clearing platform.

KGI Bank was fined after one employee misappropriated customer funds and another improperly executed customer transactions.

Information sharing will be allowed between FIs that do not have group relations, provided that the data sharing model is first reviewed and approved by the FSC.

Based on an average pre-tax return requirement, a total of 12 banks and 20 credit cooperatives are eligible to apply to open a new branch office in 2022.