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FSC commissions Taiwan Depository & Clearing Corporation to collect and process supervisory information of bills finance companies

To improve the application of financial supervisory technology, the FSC has been actively working to promote a digital regulatory reporting mechanism. With this aim in mind, the FSC on 11 August 2020 announced that it had commissioned to the Taiwan Depository & Clearing Corporation (TDCC) the task of collecting and processing the supervisory information of bills finance companies. Under the outsourcing agreement, the TDCC conducts affairs related to: (1) information integration among the TDCC, the Taipei Exchange, and the Joint Credit Information Center on bills transactions, bond issues, and lines of credit; (2) examination by the TDCC of supervisory information of bills finance companies; (3) establishment by the TDCC of a digital regulatory reporting and analysis system; and (4) both periodic and occasional provision by TDCC of analytical data and regulatory reports to the financial supervisory authority. The aims are to: (a) introduce new supervisory information technologies to increase the degree of automation, timeliness, and intelligence of supervisory data collection, processing, and analysis operations; and (b) integrate the databases of the various financial industry self-regulatory organizations, thereby securing more sources of supervisory data and providing it to the financial supervisory authority for use in routine supervisory work and financial examinations.
Visitor: 627   Update: 2020-10-14
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