Taiwan senator requests bank to buy back Minibond

Link: http://news.chinatimes.com/2007Cti/2007Cti-News/2007Cti-News-Content/0,4521,130502+132008092400983,00.htmlOriginal

Source: www.chinatimes.com
Country: Taiwan
Date: 24 Sept 2008

Summary:
1. A Senator reported the French Bank is willing to buy back the Minibond from investor
after the senator appear.
2. Reason: Taiwan is not a mature financial market suitable for sale of mature product such as mini-bond.
3. Many retirees thought Minibond is a bond and invest whole of life saving.
4. Senator call for Taiwan Monetary Authority to urge all local Taiwan banks to buy back minibond from retail investors.
5. Taiwan Monetary Authority will revise its regulation to protect retail investor.
6. Total Number of Investors: 51,000
7. Total Amount Invested with Lehman: NT 40 billion (SGD 1.8 billion)

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