Regulations Governing Foreign Exchange Business of Securities Enterprises Article 14
When a securities enterprise has a demand for a certain foreign currency arising out of its securities-related foreign exchange business, the securities enterprise may raise the foreign currency funds through the following means:1.The securities enterprise may engage in foreign exchange swaps or cross currency swaps between NTD and the foreign currency with authorized banks;2.A securities enterprise that engages in the following foreign exchange businesses may borrow money directly from an overseas financial institution or obtain a foreign currency loan from an authorized bank according to the following rules, but the borrowed funds may not be used as working capital:(1)Acting as a participating dealer of an offshore ETF: For hedging transactions to cover equity risk associated with offshore ETF positions held, the securities enterprise may obtain a foreign currency loan with the foreign transaction document or the Bank’s business approval letter.(2)Acting as a liquidity provider for domestically issued foreign currency denominated ETF: The securities enterprise may obtain a foreign currency loan with the Bank’s business approval letter.(3)Proprietary trading of foreign currency securities: The securities enterprise may obtain a foreign currency loan with the transaction confirmation or document from the counterparty. For such a loan, the securities enterprise shall sign an affidavit undertaking that “proceeds from the sale of the original purchased foreign currency security will be used directly to repay the lender and will not be used for other purposes.”(4)Underwriting of an international bond: When underwriting on a firm commitment basis or a standby commitment basis, the securities enterprise may use the underwritten bond as collateral to obtain a foreign currency loan with the Bank’s business approval letter or related underwriting contractual documents and relevant documents evidencing the payment of the settlement amount by the enterprise. The loan should be repaid no later than the maturity date of the underwritten bond or when the bond is sold.3.A securities enterprise may obtain a foreign currency call loan from an authorized bank, an offshore banking unit or an overseas financial institution.When acquiring a foreign currency loan or a call loan, securities enterprises shall also comply with the following rules:1.The total balance of foreign currency loans plus foreign currency call loans from other financial institutions shall not exceed 100% of its net worth as shown in its CPA audited or certified financial statements plus the balance of unsold committed underwritten foreign currency bonds;2.The total balance of foreign currency loans plus foreign currency call loans mentioned in the preceding subparagraph shall include those foreign currency loans and call loans obtained by its offshore securities unit (OSU), but excluding transactions between the OSU and its head office;3.The tenor of foreign currency call loans handled by securities enterprises shall not be longer than one year; and4.Proceeds from foreign currency loans and call loans may not be sold for NTD, and unless with the Bank’s approval, the sources of fund for loan repayment may not come from foreign exchange against NTD.
中文原文 證券業辦理外匯業務管理辦法第14條
證券業辦理證券相關外匯業務產生之外幣資金需求，得經由下列方式籌措外幣資金：
一、證券業得與外匯指定銀行進行新臺幣與外幣間換匯交易（SWAP）或換匯換利交易（CCS）。
二、證券業辦理下列外匯業務，得逕向國外金融機構借款；或依下列規定向外匯指定銀行辦理外幣借款，其借款資金不得流供週轉金使用：
（一）擔任境外指數股票型基金之參與證券商業務：持有境外指數股票型基金部位衍生之股權風險，而從事之避險交易，得憑國外交易文件或本行業務許可函辦理。
（二）擔任國內外幣計價指數股票型基金之流動量提供者業務：得憑本行業務許可函辦理。
（三）自行買賣外幣有價證券業務：得憑與交易對手之交易確認書或文件辦理，並應出具切結書聲明「出售原購買外幣有價證券所得將直接返還貸款銀行，不得流供他用」。
（四）國際債券承銷業務：因採包銷方式或餘額包銷，得以該承購之債券為擔保，憑本行許可函或承銷類似契約文件及支付交割價款之證明文件辦理，且至遲於擔保債券到期或賣出時還款。
三、證券業得向外匯指定銀行、國際金融業務分行及境外金融機構辦理外幣拆款。
證券業辦理前項外幣借款及拆款，並應依下列規定辦理：
一、證券業辦理外幣借款加計外幣拆入款之總餘額，不得超過其經會計師查核簽證或核閱最近期財務報表淨值之一倍加計外幣有價證券包銷餘額。
二、前款外幣拆、借款總餘額應併計其國際證券業務分公司辦理外幣拆、借款總餘額，但不包括國際證券業務分公司與總公司之往來金額。
三、證券業辦理外幣拆款期限不得超過一年。
四、外幣借款及拆入款皆不得結售為新臺幣，且其還款來源除經本行許可外，不得以新臺幣結購為之。
一、證券業得與外匯指定銀行進行新臺幣與外幣間換匯交易（SWAP）或換匯換利交易（CCS）。
二、證券業辦理下列外匯業務，得逕向國外金融機構借款；或依下列規定向外匯指定銀行辦理外幣借款，其借款資金不得流供週轉金使用：
（一）擔任境外指數股票型基金之參與證券商業務：持有境外指數股票型基金部位衍生之股權風險，而從事之避險交易，得憑國外交易文件或本行業務許可函辦理。
（二）擔任國內外幣計價指數股票型基金之流動量提供者業務：得憑本行業務許可函辦理。
（三）自行買賣外幣有價證券業務：得憑與交易對手之交易確認書或文件辦理，並應出具切結書聲明「出售原購買外幣有價證券所得將直接返還貸款銀行，不得流供他用」。
（四）國際債券承銷業務：因採包銷方式或餘額包銷，得以該承購之債券為擔保，憑本行許可函或承銷類似契約文件及支付交割價款之證明文件辦理，且至遲於擔保債券到期或賣出時還款。
三、證券業得向外匯指定銀行、國際金融業務分行及境外金融機構辦理外幣拆款。
證券業辦理前項外幣借款及拆款，並應依下列規定辦理：
一、證券業辦理外幣借款加計外幣拆入款之總餘額，不得超過其經會計師查核簽證或核閱最近期財務報表淨值之一倍加計外幣有價證券包銷餘額。
二、前款外幣拆、借款總餘額應併計其國際證券業務分公司辦理外幣拆、借款總餘額，但不包括國際證券業務分公司與總公司之往來金額。
三、證券業辦理外幣拆款期限不得超過一年。
四、外幣借款及拆入款皆不得結售為新臺幣，且其還款來源除經本行許可外，不得以新臺幣結購為之。