Regulation on Prime Lending Rates Updated

Bank Indonesia (“BI”) has issued Circular Letter No. 15/1/DPNP of 2013 on Transparency of Prime Lending Rate Information (“2013 Circular”). The 2013 Circular implements Article 26 (4) of BI Regulation No. 14/14/PBI/2012 on Transparency and Publication of Bank Reports (“2012 Regulation”).[1]

The 2013 Circular aims to promote banking information transparency, as well as good governance and healthy business competition by means of accessible information on prime lending rates. Prior to the 2013 Circular, transparency of prime lending rate information was stipulated under BI Circular Letter No. 13/5/DPNP of 2011 (“2011 Circular”).