Operations for Custody of Physical Short-Term Bills

Deposit of Short-Term Bills in Physical Form

Introduction

Operations for custody of physical short-term bills

For the convenience of bill dealers, TDCC has appointed Taiwan Cooperative Bank (NTD bills) as the depository bank for physical short-term bills. Bill dealers may deposit physical bills at a nearby branch of those depository banks for central custody and connection management. The short-term bills deposited with TDCC as described above are put under fungible custody and the holding balance will be recorded on the participants' passbooks.

The hours for a bills dealer's handling of the deposit procedure for short-term bills in physical form shall be from 9 a.m. to 4:30 p.m. on each business day.

The bills dealer shall take the short-term bills in physical form that it intends to deposit and enclose them—together with either (a) an electronic record prepared in accordance with the Format Specifications for Electronic Records of Deposited Bills, or (b) a Statement of Bills Deposited With a Physical Securities Deposit Bank that it has filled out—in an envelope of appropriate size, which it shall send to a physical securities deposit bank. The bills dealer's company seal retained by the TDCC shall be stamped across the edge of the closed envelope flap.

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