Regulations Governing Banks Conducting Financial Products and Services for High-Asset Customers Article 5
The financial products and services applicable for high-asset customers specified in the Regulations (hereinafter referred to as the business) refer to the financial products and services that banks may provide to high-asset customers in accordance with the following regulations:1. Offshore banking units(OBUs)that process Taiwan-equity linked derivatives denominated in foreign currencies (including structured products) of their head offices (or foreign banks' branches in Taiwan) approved or recorded by the FSC or the Central Bank are not required to file separate applications for each case and shall abide by the following regulations:(1) The underlying assets are restricted to Taiwan stock market indexes (including products of Taiwan stock market indexes listed in foreign exchanges) or exchange-traded funds (ETFs).(2) The pricing and clearing must be conducted in foreign currencies and must not be settled in physical form.(3) The related risk exposure in conducting the business shall be covered through back-to-back arrangements with the head office of the domestic bank or the foreign bank's branch in Taiwan. The pricing, clearing, and settlement must be conducted in foreign currencies.(4) The transaction counterparties are restricted to offshore high-asset customers. If an offshore high-asset customer is an offshore overseas compatriots or foreign national, the requirement for the confirmation of registration of an offshore overseas compatriots or foreign national counterparty in the "Taipei Exchange Regulations Governing Over-the-Counter Trading of Financial Derivatives by Securities Firm" specified in Article 37, Paragraph 1 of the “Regulations Governing Internal Operating Systems and Procedures for Banks Conducting Financial Derivatives Business” does not apply.2. Designated foreign exchange banks(DBUs)that conduct securities business and trade structured bonds denominated in foreign currencies shall abide by the following regulations:(1) The target of the transaction may be offshore structured products specified in Article 17, Paragraph 1, Subparagraph 1 to Subparagraph 3 of the Regulations Governing Offshore Structured Products.(2) The offshore issuer or guarantor of an offshore structured product must set up its parent company, branch, or subsidiary in the territory of the Republic of China(Taiwan)to serve as the domestic agent. The aforementioned domestic agent must be a securities firm, bank, or insurance company established with the approval of the FSC.(3) The domestic agent agrees to be jointly and severally liable with the issuer or guarantor of the offshore structured product.3. Offshore structured products with the same issuer and the same structure or the same risk rating can be reviewed in accordance with the customized internal guidelines on product characteristics review. The regulations prescribed by Taiwan Financial Services Roundtable specified in Article 20, Paragraph 1 of the Regulations Governing Offshore Structured Products do not apply.4. The credit rating requirements of foreign bonds do not apply to the regulations specified in Article 10, Subparagraph 7 of the Regulations Governing the Scope of Business, Restrictions on Transfer of Beneficiary Rights, Risk Disclosure, Marketing, and Conclusion of Contract by Trust Enterprises or the FSC's regulations regarding credit ratings specified in Article 5, Paragraph 1 of the Regulations Governing Securities Trading on the Taipei Exchange.5. An offshore structured product issued by an overseas branch institution or a subsidiary of a domestic bank or securities firm that meets the following conditions may be processed by an bank that carries out the business in trust investment, proprietary trading, or sales to high-asset customers of DBUs or offshore high-asset customers of OBUs; the regulations regarding the issuer or master agent in Chapter 2 of the Regulations Governing Offshore Structured Products are not applicable:(1) The issuer must be an offshore branch or a subsidiary bank with direct or indirect investment and more than 50% of shares held by a domestic bank conducting the business, or a subsidiary company of a domestic securities firm that meets the qualifications in Article 4, Paragraph 1 of the Regulations Governing the Issuance of Exchange Traded Notes by Securities Firms and holds directly or indirectly more than 50% of the shares of the subsidiary company.(2) The domestic bank or securities firm shall serve as the domestic agent of the offshore structured product. It shall agree to be jointly and severally liable with the issuer or guarantor of the offshore structured product or serve as the guarantor.(3) Offshore structured products must meet regulations specified in Article 17, Paragraph 1, Subparagraph 1 to Subparagraph 3 of the Regulations Governing Offshore Structured Products. However, the regulations regarding the credit rating in Subparagraph 1 may be replaced by the long-term debt credit rating the domestic bank or securities firm the issuer belongs to.6. The bank debentures denominated in foreign currencies that are issued by DBUs based on an application filed in accordance with the Regulations Governing Issuance of Bank Debentures by Banks may be linked to financial derivatives or be processed as structured bonds in accordance with these Regulations and the interest rate terms may be set to those other than a positive floating rate or fixed rate. Such banks shall also abide by the following regulations:(1) For the issuance and sales of bank debentures, the bank must specify in prominent fonts on the cover of the prospectus or investment memorandum and inform investors that the sales and recipient of a transfer after sales of the product are only restricted to professional institutional investors, high net worth corporate investors, high-asset customers, juristic persons or funds of professional investors, and natural persons of professional investors as defined in the Regulations.(2) The scope of the types of financial derivatives and linked underlying include contracts involving forex-related business and the values of which are derived from interest rates, exchange rates, equities, indices, commodities, or a combination thereof approved or recorded by the FSC or the Central Bank, or permitted in accordance with the Regulations Governing Internal Operating Systems and Procedures for Banks Conducting Financial Derivatives Business and Regulations Governing Foreign Exchange Business of Banking Enterprise. However, they may not be derived from New Taiwan Dollar (NTD)exchange rates or credit events.(3) Where the linked underlying involves Taiwan-equity linked equities, the scope of eligible linked underlying shall be the same as those permitted for securities firms that engage in transactions of Taiwan-equity linked equity derivatives and Taiwan-equity linked structured products. However, they may not be linked to an individual stock or a basket of stocks that are not ETFs.(4) The provisions in the Regulations Governing Internal Operating Systems and Procedures for Banks Conducting Financial Derivatives Business shall apply mutatis mutandis to the internal control system, risk management, and valuation mechanisms of the derivative financial product positions.(5) The market risks and gains or loss of linked financial derivatives shall be included in the bank's risk management mechanisms of conducting financial derivatives for control and management.7. DBUs and OBUs conducting this business may provide the bank debentures specified in the preceding subparagraph in the ways of trust investment, proprietary trading, or sales. The transaction counterparties of OBUs are restricted to offshore high-asset customers and they must abide by the following regulations:(1) The pricing, clearing, and settlement must be conducted in foreign currencies.(2) The linked underlying may not be NTD exchange rate, NTD interest rate indices or products denominated in NTD.8. Other new financial products or consulting services necessary for meeting personalized or customized demands of high-asset customers approved by the FSC.DBUs may provide professional institution investors or high net worth corporate investors with financial products or services specified in Subparagraph 4 to Subparagraph 8 of the preceding paragraph.DBUs and OBUs that conduct this business may offer offshore structured products or structured bonds issued in accordance with Paragraph 1, Subparagraph 5 or 6 to juristic persons or funds of professional investors, and natural persons of professional investors in the ways of trust investment, proprietary trading, or sales. The counterparties of the OBUs are restricted to offshore juristic persons or funds of professional investors, and offshore natural persons of professional investors, and they must comply with the provisions of Paragraph 1, Subparagraph 7, Item 1 and Item 2.The professional institutional investors, high net worth corporate investors, juristic persons or funds of professional investors, and natural persons of professional investors referred to in the three preceding paragraphs are those who meet the requirements in Article 3, Paragraph 3, Subparagraph 1 to Subparagraph 4 of the Regulations Governing Offshore Structured Products.OBUs may provide domestic financial institutions within the territory of the ROC (Taiwan) defined in Article 4, Paragraph 2 of the Offshore Banking Act, offshore professional institution investors, and offshore high net worth corporate investors with financial products or services specified in Paragraph 1, Subparagraph 1 and Subparagraph 4 to Subparagraph 8. However, the financial products or services that OBUs may provide to domestic financial institutions do not include those processed via trusts.
中文原文 銀行辦理高資產客戶適用之金融商品及服務管理辦法第5條
本辦法所稱高資產客戶適用之金融商品或服務（以下簡稱本業務），係指銀行得依下列規定對高資產客戶提供金融商品或服務：
一、國際金融業務分行辦理總行（或外國銀行在臺分行）業經本會或中央銀行核准或備查之外幣計價之臺股股權衍生性金融商品（含結構型商品），無須再逐案申請核准，並應遵守下列規定：
（一）連結標的以中華民國證券市場之股價指數（含本國股價指數於國外交易所掛牌之商品）或指數股票型基金為限。
（二）應以外幣計價及結算，且不得以實物交割。
（三）辦理本項業務之相關暴險，應以背對背方式（backtoback）拋補予本國銀行總行或外國銀行在臺分行進行避險，並以外幣計價及結算交割。
（四）交易對象以境外高資產客戶為限。
如境外高資產客戶為境外華僑及外國人，不適用銀行辦理衍生性金融商品業務內部作業制度及程序管理辦法第三十七條第一項所定交易相對人為境外華僑及外國人之確認登記應依財團法人中華民國證券櫃檯買賣中心證券商營業處所經營衍生性金融商品交易業務規則辦理之規定。
二、外匯指定銀行兼營證券自營業務，於營業處所買賣之標的屬外幣計價之結構型債券者，依下列規定辦理：
（一）交易標的得為符合境外結構型商品管理規則第十七條第一項第一款至第三款規定之境外結構型商品。
（二）境外結構型商品之境外發行機構或保證機構在中華民國境內應設有母公司、分公司或子公司並由其擔任境內代理人。
上開境內代理人應為經本會核准設立之證券商、銀行或保險公司。
（三）境內之代理人同意就發行機構或保證機構所負境外結構型商品之義務負連帶責任。
三、境外結構型商品之審查程序，得就相同發行機構且相同商品結構或相同商品風險等級之商品自訂類型化審查之規範，依該自訂之內部規範辦理，不適用境外結構型商品管理規則第二十條第一項台灣金融服務業聯合總會所定之規定。
四、外國債券之信用評等，不適用信託業營運範圍受益權轉讓限制風險揭露及行銷訂約管理辦法第十條第七款之規定及本會依證券商營業處所買賣有價證券管理辦法第五條第一項有關信用評等之規定。
五、本國銀行或證券商之海外分支機構或轉投資公司發行境外結構型商品符合下列條件者，得透過辦理本業務之銀行受託投資、自營買賣或銷售予外匯指定銀行之高資產客戶及國際金融業務分行之境外高資產客戶，不適用境外結構型商品管理規則第二章有關發行人或總代理人之規定：
（一）發行機構應為辦理本業務之本國銀行海外分行或其直接或間接轉投資且持股逾百分之五十之子銀行，或符合證券商發行指數投資證券處理準則第四條第一項資格條件之本國證券商其直接或間接轉投資且持股逾百分之五十之子公司。
（二）本國銀行或證券商應擔任該境外結構型商品之境內代理人，同意就發行機構或保證機構所負境外結構型商品之義務負連帶責任或自為保證機構。
（三）境外結構型商品應符合境外結構型商品管理規則第十七條第一項第一款至第三款之規定。
但第一款信用評等之規定得以發行機構所屬本國銀行或證券商之長期債務信用評等取代之。
六、本國銀行之外匯指定銀行依銀行發行金融債券辦法申請發行以外幣計價之金融債券，得依本辦法規定連結衍生性金融商品或為結構型債券，利率條款得不限於正浮動或固定利率。
並應遵守下列規定：
（一）發行及銷售金融債券，應於公開說明書或投資說明書封面以顯著字體註明並告知投資人，銷售及銷售後轉讓對象以本辦法所稱之專業機構投資人、高淨值投資法人、高資產客戶、專業投資人之法人或基金及專業投資人之自然人為限。
（二）連結之衍生性金融商品類型及連結標的，以獲本會或中央銀行核准、備查或依銀行辦理衍生性金融商品業務內部作業制度及程序管理辦法及銀行業辦理外匯業務管理辦法得辦理外匯衍生性商品業務之利率、匯率、股權、指數、商品及其組合等所衍生之交易契約為範圍。
但不得連結新臺幣匯率及信用事件。
（三）連結標的涉及臺股股權者，其得連結之標的範圍，應與證券商從事臺股股權衍生性金融商品及臺股股權結構型商品業務之交易得連結之標的相同。
但不得連結單一個股或非指數型之一籃子股票。
（四）所涉衍生性金融商品部位之內部控制、風險控管及評價機制，準用銀行辦理衍生性金融商品業務內部作業制度及程序管理辦法之規定。
（五）連結衍生性金融商品之市場風險及損益應納入銀行自行辦理衍生性金融商品之風險管理機制控管。
七、辦理本業務之外匯指定銀行及國際金融業務分行得以信託方式、證券自營或銷售方式提供前款所定之金融債券。
其中國際金融業務分行之交易對象僅限境外高資產客戶，並應遵守下列規定：
（一）以外幣計價及結算交割。
（二）連結標的不得為新臺幣匯率、新臺幣利率指標或新臺幣計價商品。
八、經本會核准辦理之其他提供高資產客戶個人化或客製化需求之新金融商品業務或顧問諮詢服務。
外匯指定銀行得對專業機構投資人或高淨值投資法人提供前項第四款至第八款金融商品或服務。
辦理本業務之外匯指定銀行及國際金融業務分行得以信託方式、證券自營或銷售方式，對專業投資人之法人或基金及專業投資人之自然人提供依第一項第五款或第六款所發行之境外結構型商品或結構型債券。
其中國際金融業務分行之交易對象僅限境外專業投資人之法人或基金及境外專業投資人之自然人，且應遵守第一項第七款第一目及第二目之規定。
前三項所稱專業機構投資人、高淨值投資法人、專業投資人之法人或基金及專業投資人之自然人，係指符合境外結構型商品管理規則第三條第三項第一款至第四款規定者。
國際金融業務分行得對依國際金融業務條例第四條第二項所定之中華民國境內金融機構、境外專業機構投資人、境外高淨值投資法人提供第一項第一款及第四款至第八款金融商品或服務。
但國際金融業務分行對境內金融機構提供之金融商品或服務不包括以信託方式辦理者。
一、國際金融業務分行辦理總行（或外國銀行在臺分行）業經本會或中央銀行核准或備查之外幣計價之臺股股權衍生性金融商品（含結構型商品），無須再逐案申請核准，並應遵守下列規定：
（一）連結標的以中華民國證券市場之股價指數（含本國股價指數於國外交易所掛牌之商品）或指數股票型基金為限。
（二）應以外幣計價及結算，且不得以實物交割。
（三）辦理本項業務之相關暴險，應以背對背方式（backtoback）拋補予本國銀行總行或外國銀行在臺分行進行避險，並以外幣計價及結算交割。
（四）交易對象以境外高資產客戶為限。
如境外高資產客戶為境外華僑及外國人，不適用銀行辦理衍生性金融商品業務內部作業制度及程序管理辦法第三十七條第一項所定交易相對人為境外華僑及外國人之確認登記應依財團法人中華民國證券櫃檯買賣中心證券商營業處所經營衍生性金融商品交易業務規則辦理之規定。
二、外匯指定銀行兼營證券自營業務，於營業處所買賣之標的屬外幣計價之結構型債券者，依下列規定辦理：
（一）交易標的得為符合境外結構型商品管理規則第十七條第一項第一款至第三款規定之境外結構型商品。
（二）境外結構型商品之境外發行機構或保證機構在中華民國境內應設有母公司、分公司或子公司並由其擔任境內代理人。
上開境內代理人應為經本會核准設立之證券商、銀行或保險公司。
（三）境內之代理人同意就發行機構或保證機構所負境外結構型商品之義務負連帶責任。
三、境外結構型商品之審查程序，得就相同發行機構且相同商品結構或相同商品風險等級之商品自訂類型化審查之規範，依該自訂之內部規範辦理，不適用境外結構型商品管理規則第二十條第一項台灣金融服務業聯合總會所定之規定。
四、外國債券之信用評等，不適用信託業營運範圍受益權轉讓限制風險揭露及行銷訂約管理辦法第十條第七款之規定及本會依證券商營業處所買賣有價證券管理辦法第五條第一項有關信用評等之規定。
五、本國銀行或證券商之海外分支機構或轉投資公司發行境外結構型商品符合下列條件者，得透過辦理本業務之銀行受託投資、自營買賣或銷售予外匯指定銀行之高資產客戶及國際金融業務分行之境外高資產客戶，不適用境外結構型商品管理規則第二章有關發行人或總代理人之規定：
（一）發行機構應為辦理本業務之本國銀行海外分行或其直接或間接轉投資且持股逾百分之五十之子銀行，或符合證券商發行指數投資證券處理準則第四條第一項資格條件之本國證券商其直接或間接轉投資且持股逾百分之五十之子公司。
（二）本國銀行或證券商應擔任該境外結構型商品之境內代理人，同意就發行機構或保證機構所負境外結構型商品之義務負連帶責任或自為保證機構。
（三）境外結構型商品應符合境外結構型商品管理規則第十七條第一項第一款至第三款之規定。
但第一款信用評等之規定得以發行機構所屬本國銀行或證券商之長期債務信用評等取代之。
六、本國銀行之外匯指定銀行依銀行發行金融債券辦法申請發行以外幣計價之金融債券，得依本辦法規定連結衍生性金融商品或為結構型債券，利率條款得不限於正浮動或固定利率。
並應遵守下列規定：
（一）發行及銷售金融債券，應於公開說明書或投資說明書封面以顯著字體註明並告知投資人，銷售及銷售後轉讓對象以本辦法所稱之專業機構投資人、高淨值投資法人、高資產客戶、專業投資人之法人或基金及專業投資人之自然人為限。
（二）連結之衍生性金融商品類型及連結標的，以獲本會或中央銀行核准、備查或依銀行辦理衍生性金融商品業務內部作業制度及程序管理辦法及銀行業辦理外匯業務管理辦法得辦理外匯衍生性商品業務之利率、匯率、股權、指數、商品及其組合等所衍生之交易契約為範圍。
但不得連結新臺幣匯率及信用事件。
（三）連結標的涉及臺股股權者，其得連結之標的範圍，應與證券商從事臺股股權衍生性金融商品及臺股股權結構型商品業務之交易得連結之標的相同。
但不得連結單一個股或非指數型之一籃子股票。
（四）所涉衍生性金融商品部位之內部控制、風險控管及評價機制，準用銀行辦理衍生性金融商品業務內部作業制度及程序管理辦法之規定。
（五）連結衍生性金融商品之市場風險及損益應納入銀行自行辦理衍生性金融商品之風險管理機制控管。
七、辦理本業務之外匯指定銀行及國際金融業務分行得以信託方式、證券自營或銷售方式提供前款所定之金融債券。
其中國際金融業務分行之交易對象僅限境外高資產客戶，並應遵守下列規定：
（一）以外幣計價及結算交割。
（二）連結標的不得為新臺幣匯率、新臺幣利率指標或新臺幣計價商品。
八、經本會核准辦理之其他提供高資產客戶個人化或客製化需求之新金融商品業務或顧問諮詢服務。
外匯指定銀行得對專業機構投資人或高淨值投資法人提供前項第四款至第八款金融商品或服務。
辦理本業務之外匯指定銀行及國際金融業務分行得以信託方式、證券自營或銷售方式，對專業投資人之法人或基金及專業投資人之自然人提供依第一項第五款或第六款所發行之境外結構型商品或結構型債券。
其中國際金融業務分行之交易對象僅限境外專業投資人之法人或基金及境外專業投資人之自然人，且應遵守第一項第七款第一目及第二目之規定。
前三項所稱專業機構投資人、高淨值投資法人、專業投資人之法人或基金及專業投資人之自然人，係指符合境外結構型商品管理規則第三條第三項第一款至第四款規定者。
國際金融業務分行得對依國際金融業務條例第四條第二項所定之中華民國境內金融機構、境外專業機構投資人、境外高淨值投資法人提供第一項第一款及第四款至第八款金融商品或服務。
但國際金融業務分行對境內金融機構提供之金融商品或服務不包括以信託方式辦理者。