The Financial Supervisory Commission (FSC) yesterday fined Cathay United Bank (國泰世華銀行) NT$2 million (US$68,622) and banned the lender from setting up new automatic teller machines (ATMs) as the bank’s ATM service malfunctioned several times recently, significantly affecting clients, the commission said.
The commission also raised the risk factor for Cathay United Bank in light of the recent incidents.
The bank must increase its capital by at least NT$750 million to keep its BIS capital adequacy ratio unchanged at 16.25 percent, Banking Bureau Chief Secretary Phil Tong (童政彰) told a news conference.
The bank could issue new shares or bonds to perform the