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Selasa, Oktober 10, 2023

Average GWM Fulfillment Rates in Rupiah and Foreign Currencies Eligible to Secure Remuneration and Athaya Incentives Adjusted

The Board of Governors of Bank Indonesia ("BI") has decided to amend matters relating to the fulfillment of the minimum statutory reserve (Giro Wajib Minimum – "GWM") in rupiah and foreign currencies for conventional commercial banks, sharia commercial banks and sharia business units, as originally addressed under Regulation of the BI Board of Governors No. 24/8/PADG/2022, as amended by Regulation of the BI Board of Governors No. 2 of 2023 (collectively referred to as "Regulation 8/2022"), through the issuance of Regulation No. 12 of 2023 as the Second Amendment to Regulation 8/2023 ("Second Amendment"), which has been in force since 1 October 2023.
While no significant changes have been introduced to the framework of Regulation 8/2022, the Second Amendment has adjusted the rates that apply to certain parts of the GWM fulfillment eligible to secure remuneration, which have now been set at between 5% and 7%. Said certain parts should be determined based on relevant macroprudential liquidity incentive policies (Kebijakan Insentif Likuiditas Makroprudensial – "KLM") issued by BI. Previously, Regulation 8/2022 set the lower threshold of 6.5% for said certain parts of GWM fulfillment.
Similar to the abovementioned remuneration, the Second Amendment has also now adjusted the average rate of certain parts of GWM fulfillment that take the form of ‘athaya and that are eligible to secure incentives that should be granted based upon sharia principles, which has been set at between 3.5% and 5.5%. Said incentives will be granted based on relevant KLM, as determined by BI. Compared with Regulation 8/2022, a lower threshold of 4.7% was previously set for said ‘athaya incentives.

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The Board of Governors of Bank Indonesia ("BI") has decided to amend matters relating to the fulfillment of the minimum statutory reserve (Giro Wajib Minimum – "GWM") in rupiah and foreign currencies for conventional commercial banks, sharia commercial banks and sharia business units, as originally addressed under Regulation of the BI Board of Governors No. 24/8/PADG/2022, as amended by Regulation of the BI Board of Governors No. 2 of 2023 (collectively referred to as "Regulation 8/2022"), through the issuance of Regulation No. 12 of 2023 as the Second Amendment to Regulation 8/2023 ("Second Amendment"), which has been in force since 1 October 2023.
While no significant changes have been introduced to the framework of Regulation 8/2022, the Second Amendment has adjusted the rates that apply to certain parts of the GWM fulfillment eligible to secure remuneration, which have now been set at between 5% and 7%. Said certain parts should be determined based on relevant macroprudential liquidity incentive policies (Kebijakan Insentif Likuiditas Makroprudensial – "KLM") issued by BI. Previously, Regulation 8/2022 set the lower threshold of 6.5% for said certain parts of GWM fulfillment.
Similar to the abovementioned remuneration, the Second Amendment has also now adjusted the average rate of certain parts of GWM fulfillment that take the form of ‘athaya and that are eligible to secure incentives that should be granted based upon sharia principles, which has been set at between 3.5% and 5.5%. Said incentives will be granted based on relevant KLM, as determined by BI. Compared with Regulation 8/2022, a lower threshold of 4.7% was previously set for said ‘athaya incentives.

......

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Precedent Hukumonline
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PROFESSIONAL

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Semua Fitur Paket Standard
Terjemahan Peraturan
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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