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Summary: The FSC has received the Bankers Association’s recommendation on the handling of undue outstanding balance of credit card installment. Kindly forward this recommendation to your member institutions, and ask them to implement this recommendation thoroughly.
Issued by: Financial Supervisory Commission, Executive Yuan
Date of issue: 2008/03/03
Ref. No.: Jin-Guan-Yin (4)-No. 09700067290
Subject: The FSC has received your recommendation to include “undue outstanding balance of credit card installment” into the provision for unsecured personal loans that the total balance of unsecured debt of a debtor at all financial institutions should not exceed the average monthly income by 22 times. Please forward this recommendation to your member institutions and ask them to implement it thoroughly.
Explanation: This is in reply to your letter Quan-Xin-Zi-No. 0384-1 dated February 13, 2008.
TO: Bankers Association of the Republic of China
cc: Joint Credit Information Center, FSC Banking Bureau |