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Kamis, Januari 5, 2023

BI Allows Placement of Funds by Exporters from DHE SDA Special Account in Several Instruments

Monetary and Payment System Trade

Bank Indonesia (“BI”) has issued Regulation No. 24/18/PBI/2022 on the Second Amendment to Regulation of BI No. 21/14/PBI/2019 on Foreign Exchange Export Proceeds and Foreign Exchange Import Payments (“Second Amendment”), in an attempt to strengthen the stability of the rupiah exchange rate.
According to the Second Amendment, exporters of natural resources (sumber daya alam – “SDA”) may now place funds from the foreign exchange export proceeds (devisa hasil ekspor – “DHE”) SDA special account into the following instruments: 1) DHE SDA deposits; 2) Term deposits for conventional open market operations in foreign currencies through BI; and/or 3) Other instruments determined by BI. Previously, only the placements referred to in point (1) were allowed.
It should be noted that funds from the DHE SDA special account that are placed into the instruments referred to in points (2) and (3) above are not a component of third-party funds that are used in the calculation of: 1) Minimum statutory reserves in foreign currency; 2) The macroprudential intermediation ratio; and 3) The sharia macroprudential intermediation ratio.
Furthermore, term deposit placements for conventional open market operations in foreign currencies through BI and other instruments determined by BI are to be carried out by SDA exporters through banks that meet the requirements stipulated by BI.
In addition, the Second Amendment also requires banks to ensure that funds that are placed in the aforementioned instruments actually derive from DHE SDA. Banks must also provide a special marker (flag) for each instrument.
The Second Amendment has been in force since 23 December 2022 and is valid retroactively from 30 November 2022.

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Bank Indonesia (“BI”) has issued Regulation No. 24/18/PBI/2022 on the Second Amendment to Regulation of BI No. 21/14/PBI/2019 on Foreign Exchange Export Proceeds and Foreign Exchange Import Payments (“Second Amendment”), in an attempt to strengthen the stability of the rupiah exchange rate.
According to the Second Amendment, exporters of natural resources (sumber daya alam – “SDA”) may now place funds from the foreign exchange export proceeds (devisa hasil ekspor – “DHE”) SDA special account into the following instruments: 1) DHE SDA deposits; 2) Term deposits for conventional open market operations in foreign currencies through BI; and/or 3) Other instruments determined by BI. Previously, only the placements referred to in point (1) were allowed.
It should be noted that funds from the DHE SDA special account that are placed into the instruments referred to in points (2) and (3) above are not a component of third-party funds that are used in the calculation of: 1) Minimum statutory reserves in foreign currency; 2) The macroprudential intermediation ratio; and 3) The sharia macroprudential intermediation ratio.
Furthermore, term deposit placements for conventional open market operations in foreign currencies through BI and other instruments determined by BI are to be carried out by SDA exporters through banks that meet the requirements stipulated by BI.
In addition, the Second Amendment also requires banks to ensure that funds that are placed in the aforementioned instruments actually derive from DHE SDA. Banks must also provide a special marker (flag) for each instrument.
The Second Amendment has been in force since 23 December 2022 and is valid retroactively from 30 November 2022.

......

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Precedent Hukumonline
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Semua Fitur Paket Standard
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Peraturan Konsolidasi
Premium Stories
Monthly Law Review (MLR)
Indonesian Law Digest (ILD)

STANDARD

Rp 2.500.000

per bulan

Indonesian Legal Brief (ILB)
Daily Updates
Bantuan Layanan Pencarian Peraturan
Pusat Data Peraturan dan Putusan Pengadilan Non-Precedent

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