- Bank Indonesia’s ("BI") Board of Governors recently issued Regulation No. 18 of 2023 ("Seventh Amendment")as the Seventh Amendment to Regulation of the BI Board of Governors No. 21/22/PADG/2019 ("Regulation 22/2019") on the Macroprudential Intermediation Ratio (Rasio Intermediasi Makroprudensial/RIM) and Macroprudential Liquidity Support (Penyangga Likuiditas Makroprudensial – "PLM"), which applies to conventional commercial banks, sharia commercial banks and sharia business units.
- At its core, the Seventh Amendment has now relaxed the applicable PLM fulfillment ratio that applies to Conventional Bank Third-Party Funds (Dana Pihak Ketiga Bank Umum Konvensional – "DPK BUK") in an effort to improve the overall distribution of credit and bank financing. Accordingly, conventional and sharia PLM ratios of 5.0% and 4.5% respectively have now been set for DPK BUK in rupiah.
- With regard to the above-mentioned changes, the Seventh Amendment has also adjusted the utilization of conventional and sharia securities during repo transactions and liquidity management transactions based on Bank Indonesia sharia principles (PaSBI transactions). Said utilization has now been set at a maximum of 5.0% each for conventional securities and 3.5% for sharia securities for DPK BUK in rupiah.
- The Seventh Amendment has been in force since 1 December 2023
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