Featured Product

    FSC Taiwan Announces Measures to Address Impact of COVID-19 Pandemic

    April 30, 2020

    To ease the loan repayment difficulties of those affected by the COVID-19 outbreak, the FSC Taiwan announced that the Bankers Association of the Republic of China (BAROC) instructs the member banks to institute a debt workout mechanism for borrowers that have problems repaying loans due to the impact of the outbreak. FSC Taiwan also asked BAROC to collect information on the loan products and debt workout measures provided by all banks. FSC Taiwan issued an administrative letter regarding loans to small and medium sized enterprises (including small-scale business operators). Additionally, FSC Taiwan notified entities about the development of a simple scoring form to replace the financial statements and 401 reports to assist small-scale business operators amid COVID-19 outbreak.

    In the light of the economic impact due to COVID-19, the government has proposed a number of bailout and revitalization plans. However, small-scale business operators were not able to benefit from these measures because of the lack of financial statements (or 401 statements). Therefore, a simple scoring form has been developed to help small-scale business operators in applying for loans through a simplified process. In addition, to encourage banks, FSC Taiwan has developed incentive measures to reduce the ratio of credit reserve allowance for bad debts from 1.0% to 0.5%.

     

    Related Links 

    Keywords: Asia Pacific, Taiwan, Banking, COVID-19, Credit Risk, SME, Regulatory Capital, NPL, Loan Moratorium, Loan-loss Provisioning, FSC Taiwan

    Featured Experts
    Related Articles
    News

    APRA Updates Validation and Derivation Rules in September 2020

    APRA updated the lists of the Direct to APRA (D2A) validation and derivation rules for authorized deposit-taking institutions, insurers, and superannuation entities.

    September 24, 2020 WebPage Regulatory News
    News

    EC Proposes Frameworks for Crypto-Assets and Operational Resilience

    EC adopted a package that includes the digital finance and retail payments strategies and the legislative proposals for regulatory frameworks on crypto-assets and digital operational resilience.

    September 24, 2020 WebPage Regulatory News
    News

    ECB Publishes Opinion on Proposals to Amend Securitization Framework

    ECB published an opinion (CON/2020/22) on proposals for regulations amending the securitization framework of EU, in response to the COVID-19 pandemic.

    September 24, 2020 WebPage Regulatory News
    News

    FCA Consults on Regulation of International Firms in UK

    FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.

    September 23, 2020 WebPage Regulatory News
    News

    MAS Amends Notice on Capital Adequacy Requirements of Banks

    MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore.

    September 23, 2020 WebPage Regulatory News
    News

    FCA to Begin to Move Firms to New Data Collection Platform RegData

    FCA announced that it will move firms to RegData from Gabriel in the coming months in stages, based on the reporting requirements of firms.

    September 23, 2020 WebPage Regulatory News
    News

    ISDA Expects IBOR Fallbacks to be Effective by End of January 2021

    ISDA issued a letter to regulators to flag that it now expects the supplement to the 2006 ISDA Definitions and the Interbank Offered Rate (IBOR) Fallbacks Protocol to be effective around mid- to late-January 2021.

    September 23, 2020 WebPage Regulatory News
    News

    APRA Reviews Repayment Deferral Plans, Identifies Best Practices

    APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.

    September 22, 2020 WebPage Regulatory News
    News

    ESAs Assess Risks to Financial Sector After COVID-19 Outbreak

    ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.

    September 22, 2020 WebPage Regulatory News
    News

    BoE Confirms Withdrawal of COVID Corporate Financing Facility

    BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.

    September 22, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5836