- Following the expansion of repo and margin transaction objects for triparty repo participants ("Participants"), the Board of Directors of PT Kliring Penjaminan Efek ("KPEI") has decided to introduce procedures for corporate actions that involve bond securities ("Securities")for repo or margin transactions through the issuance of Decree No. SE-015/DIR/KPEI/1223 of 2023 ("Decree 015/2023"), which has been in force since 8 December 2023.
- At its core, Decree 015/2023 states that corporate actions are taken based on certain repayment events (peristiwa pelunasan) for securities that are offered by issuers of debt securities. Said events are broken down into the following categories: 1) Amortization or partial payment; and 2) Redemption or full payment.
- With regard to the different events outlined above, if amortization occurs, then the following provisions apply to Participants: 1) For principal, Securities must be adjusted before the recording date; and 2) For margin, Securities must be adjusted before the effective date. Meanwhile, if redemption occurs, then Securities for both principal and margin must be adjusted before the recording date.
- For a further explanation of Decree 015/2023, members of the public may contact the Securities Lending and Borrowing Unit and KPEI’s REPO through the following email address: [email protected].
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