The legislature yesterday passed an amendment to the Banking Law (銀行法) that established an exit mechanism for banks with a low capital adequacy ratio.
The amendment said that any banks that showed capital adequacy ratios of under 2 percent would have to close if they failed to improve the ratio within a period of time set by the government.
The amendment also authorizes the Financial Supervisory Commission to take over a bank 90 days after the bank’s capital adequacy ratio drops below 2 percent.
The commission would have the power to operate the bank and manage and handle the bank’s property, the amendment said.
PREVENTION
Chinese Nationalist Party Legislator Lo Shu-lei (羅淑蕾), who participated in the review of the amendment, said the passage gave the government the authority to prevent owners or managers of poorly run banks from embezzling funds.
The amendment also lowers the threshold for banks to disclose information about bad debtors.
The current regulation only allows banks to reveal the identity of bad debtors who owe more than NT$100 million (US$2.9 million), while the amendment lowers the number to NT$50 million.
SHAREHOLDERS
The amendment requires anyone who owns more than 5 percent of the shares of a bank to report to the commission.
Anyone who would like to possess more than 10 percent, 25 percent or 50 percent of a bank’s shares would have to seek the commission’s permission.
The amendment scraps a ban in the current law disallowing anyone to own more than 25 percent of a bank’s issued shares.
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