Regulations Governing Foreign Exchange Business of Banking Enterprises Article 31
(Foreign Exchange Derivatives Involving NTD Exchange Rate)When an authorized bank engages in foreign exchange derivatives business involving NTD exchange rate, the following rules shall apply:1.NTD deliverable foreign exchange forward (DF):(1)Based on genuine needs for foreign exchange receipts or disbursements, and the same need shall not be involved in multiple contracts.(2)When entering into contracts or processing settlements with clients, either the transaction documents supporting genuine needs for foreign exchange receipts or disbursements, or a written approval from the Bank or the competent authorities shall be verified.(3)The term of contract should be determined according to practical needs for foreign exchange receipts or disbursements.(4)When the contract is rolled over, the price shall be set based on the current market exchange rate rather than the rate of the original contract.2.NTD foreign currency swap (FX swap):(1)FX swap means simultaneously carrying out two foreign exchange transactions in identical amount but in opposite directions and having different value dates.(2)Counterparties shall be limited to domestic and foreign legal entities, and foreign natural persons.(3)When entering into a contract, no supporting documents are required for domestic legal entities; for foreign legal entities and foreign natural persons, documents of approval issued by the Bank or the competent authorities shall be verified.(4)When the contract is rolled over, the price shall be set based on the current market exchange rates rather than the rates of the original contracts.3.NTD non-deliverable foreign exchange forward (NDF):(1)Counterparties are limited to other domestic authorized banks and each authorized bank's overseas branches, head office (parent bank) and branches of head office (parent bank).(2)The format, content, and accounting of contracts shall be segregated from those of delivery forward (DF) business.(3)Contracts under this item shall not be rolled over or terminated before maturity.(4)Net cash settlement shall be applied uniformly upon maturity.(5)Margin trading is not allowed for NDF transactions.(6)Without the approval of the Bank, contracts shall not be structured to combine with other derivatives products, NTD or foreign currency principals, or other businesses and products.(7)For NTD non-deliverable forwards of US$5 million or above, the Department of Foreign Exchange of the Bank shall be notified immediately by telephone.4.NTD exchange rate option:(1)Counterparties are limited to domestic and foreign legal entities.(2)An option may be settled by net settlement or gross settlement, but the settlement method shall be specified in the contract.(3)The currency used for option premium and settlement when the option is exercised may be either in the denominated foreign currency or NTD, but shall be specified in the contract.(4)Only "plain vanilla" options may be transacted. Without the approval of the Bank, contracts shall not be structured to combine with options or other foreign exchange derivatives products, NTD or foreign currency principals, or other businesses and products.5.NTD cross currency swap (CCS):(1)Counterparties are limited to domestic and foreign legal entities.(2)For NTD CCS involving the exchange of principal both at inception and maturity, documents required of customers when entering into a contract shall be submitted in accordance with the provisions on FX swap under Item (3) of Subparagraph 2 of this paragraph.(3)For other types of NTD CCS, the bank shall require its customers to submit documents evidencing actual demand at the time of entering a contract.(4)The exchange of principal or interest for each term in the future is deemed as a foreign exchange forward contract, and shall be reported on the daily foreign exchange forward transaction report when entering into contract.When engaging in FX swaps under Subparagraph 2 of the preceding paragraph or NTD CCS transactions involving the exchange of principal both at inception and maturity under Subparagraph 5 of the preceding paragraph, neither the principal nor interest involved need to be included in the annual aggregate settlement amount as specified in Subparagraph 3, Paragraph 1, Article 4 of the Regulations for Declaration. However, when engaging in other types of NTD CCS, the inclusion of settlement amounts involved into the annual aggregate settlement amount shall be handled according to the actual nature of remittance and the provisions of Paragraph 4, Article 2 of the Regulations for Declaration.The settlement of FX swap transactions under Subparagraph 2 of Paragraph 1 hereof and cross currency swap transactions under Subparagraph 5 of Paragraph 1 hereof shall be included in the next-day "Daily Transaction Report".
中文原文 銀行業辦理外匯業務管理辦法第31條
指定銀行辦理涉及新臺幣匯率之外匯衍生性商品業務，應依下列規定辦理：
一、新臺幣與外幣間遠期外匯業務（DF）：
（一）以有實際外匯收支需要者為限，同筆外匯收支需要不得重複簽約。
（二）與顧客訂約及交割時，均應查核其相關實際外匯收支需要之交易文件，或主管機關核准文件。
（三）期限：依實際外匯收支需要訂定。
（四）展期時應依當時市場匯率重訂價格，不得依原價格展期。
二、新臺幣與外幣間換匯交易業務（FXSWAP）：
（一）換匯交易係指辦理即期外匯或遠期外匯之同時，應即承作相等金額、不同方向及不同到期日之遠期外匯。
（二）承作對象及文件：國內法人無須檢附文件；對國外法人及自然人應查驗主管機關核准文件。
（三）換匯交易結匯時，應查驗顧客是否依申報辦法填報申報書，其「外匯收支或交易性質」是否依照實際匯款性質填寫及註明「換匯交易」，並於外匯水單上註明本行外匯局訂定之「匯款分類及編號」，連同申報書填報「交易日報」。
（四）本項交易得不計入申報辦法第四條第一項第三款所訂之當年累積結匯金額。
（五）展期時應依當時市場匯率重訂價格，不得依原價格展期。
三、無本金交割新臺幣遠期外匯業務（NDF）：
（一）承作對象以國內指定銀行及指定銀行本身之海外分行、總（母）行及其分行為限。
（二）契約形式、內容及帳務處理應與遠期外匯業務（DF）有所區隔。
（三）承作本項交易不得展期、不得提前解約。
（四）到期結清時，一律採現金差價交割。
（五）不得以保證金交易（MarginTrading）槓桿方式為之。
（六）非經本行許可，不得與其他衍生性商品、新臺幣或外幣本金或其他業務、產品組合。
（七）無本金交割新臺幣遠期外匯交易，每筆金額達五百萬美元以上者，應立即電告本行外匯局。
四、新臺幣匯率選擇權業務：
（一）承作對象以國內外法人為限。
（二）到期履約時得以差額或總額交割，且應於契約中訂明。
（三）權利金及履約交割之幣別，得以所承作交易之外幣或新臺幣為之，且應於契約中訂明。
（四）僅得辦理陽春型（PlainVanilla）選擇權。
且非經本行許可，不得就本項業務自行組合或與其他衍生性商品、新臺幣或外幣本金或其他業務、產品組合。
五、新臺幣與外幣間換匯換利交易業務（CCS）：
（一）承作對象以國內外法人為限。
（二）辦理期初及期末皆交換本金之新臺幣與外幣間換匯換利交易，國內法人無須檢附交易文件，其本金及利息於交割時得不計入申報辦法第四條第一項第三款所訂之當年累積結匯金額。
（三）其他類型之新臺幣與外幣間換匯換利交易，承作時須要求顧客檢附實需證明文件，且交割金額應計入申報辦法第四條第一項第三款所訂之當年累積結匯金額，但其外匯收支或交易性質為出、進口貨款、提供服務或經有關主管機關核准者，得不計入上述當年累積結匯金額。
（四）辦理本款業務，於顧客結匯時應查驗是否依申報辦法填報申報書，其「外匯收支或交易性質」是否依照實際匯款性質填寫，及註明「換匯換利交易」。
並於外匯水單上註明本行外匯局訂定之「匯款分類及編號」，連同申報書填報「交易日報」。
（五）未來各期所交換之本金或利息視為遠期外匯，訂約時應填報遠期外匯日報表。
一、新臺幣與外幣間遠期外匯業務（DF）：
（一）以有實際外匯收支需要者為限，同筆外匯收支需要不得重複簽約。
（二）與顧客訂約及交割時，均應查核其相關實際外匯收支需要之交易文件，或主管機關核准文件。
（三）期限：依實際外匯收支需要訂定。
（四）展期時應依當時市場匯率重訂價格，不得依原價格展期。
二、新臺幣與外幣間換匯交易業務（FXSWAP）：
（一）換匯交易係指辦理即期外匯或遠期外匯之同時，應即承作相等金額、不同方向及不同到期日之遠期外匯。
（二）承作對象及文件：國內法人無須檢附文件；對國外法人及自然人應查驗主管機關核准文件。
（三）換匯交易結匯時，應查驗顧客是否依申報辦法填報申報書，其「外匯收支或交易性質」是否依照實際匯款性質填寫及註明「換匯交易」，並於外匯水單上註明本行外匯局訂定之「匯款分類及編號」，連同申報書填報「交易日報」。
（四）本項交易得不計入申報辦法第四條第一項第三款所訂之當年累積結匯金額。
（五）展期時應依當時市場匯率重訂價格，不得依原價格展期。
三、無本金交割新臺幣遠期外匯業務（NDF）：
（一）承作對象以國內指定銀行及指定銀行本身之海外分行、總（母）行及其分行為限。
（二）契約形式、內容及帳務處理應與遠期外匯業務（DF）有所區隔。
（三）承作本項交易不得展期、不得提前解約。
（四）到期結清時，一律採現金差價交割。
（五）不得以保證金交易（MarginTrading）槓桿方式為之。
（六）非經本行許可，不得與其他衍生性商品、新臺幣或外幣本金或其他業務、產品組合。
（七）無本金交割新臺幣遠期外匯交易，每筆金額達五百萬美元以上者，應立即電告本行外匯局。
四、新臺幣匯率選擇權業務：
（一）承作對象以國內外法人為限。
（二）到期履約時得以差額或總額交割，且應於契約中訂明。
（三）權利金及履約交割之幣別，得以所承作交易之外幣或新臺幣為之，且應於契約中訂明。
（四）僅得辦理陽春型（PlainVanilla）選擇權。
且非經本行許可，不得就本項業務自行組合或與其他衍生性商品、新臺幣或外幣本金或其他業務、產品組合。
五、新臺幣與外幣間換匯換利交易業務（CCS）：
（一）承作對象以國內外法人為限。
（二）辦理期初及期末皆交換本金之新臺幣與外幣間換匯換利交易，國內法人無須檢附交易文件，其本金及利息於交割時得不計入申報辦法第四條第一項第三款所訂之當年累積結匯金額。
（三）其他類型之新臺幣與外幣間換匯換利交易，承作時須要求顧客檢附實需證明文件，且交割金額應計入申報辦法第四條第一項第三款所訂之當年累積結匯金額，但其外匯收支或交易性質為出、進口貨款、提供服務或經有關主管機關核准者，得不計入上述當年累積結匯金額。
（四）辦理本款業務，於顧客結匯時應查驗是否依申報辦法填報申報書，其「外匯收支或交易性質」是否依照實際匯款性質填寫，及註明「換匯換利交易」。
並於外匯水單上註明本行外匯局訂定之「匯款分類及編號」，連同申報書填報「交易日報」。
（五）未來各期所交換之本金或利息視為遠期外匯，訂約時應填報遠期外匯日報表。