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Kamis, April 25, 2024

Fourth Amendment on the Implementation of Open-Market Operations

Monetary and Payment System

The Board of Governors of Bank Indonesia ("BI") recently issued Regulation No. 3 of 2024 on the Fourth Amendment ("Amendment") to Regulation of the BI Board of Governors No. 22/23/PADG/2020 on the Implementation of Open-Market Operations.
This Amendment introduces a number of provisions that specifically address secure Conventional Open-Market Operations (Operasi Pasar Terbuka – "OPT") and Repurchase Agreements ("Repo"). It also allows for transactions that utilize non-auction mechanisms to be conducted directly between Bank Indonesia and conventional OPT participants or via intermediary institutions.
The submission process for Conventional OPT Repo Transactions without an auction mechanism involves: 1) Participants proposing transactions to Bank Indonesia either directly or via intermediaries using the BI-ETP System or other approved methods; 2) Offers must include details of the relevant nominal values, security types and series for each transaction period; 3) Each bid must amount to at least Rp. 1 billion with subsequent increments of Rp 100 million.
Bank Indonesia is also set to introduce a non-auction Domestic Non-Deliverable Forward ("DNDF") Transaction Plan and its various changes prior to the DNDF Transaction time window on a non-auction basis being opened through the dealing system and other information facilities at the latest. This will include several types of information, specifically: 1) Transaction date; 2) Transaction participant; 3) Transaction window time; and so forth.
The non-auction DNDF Transaction Submission process involves: 1) Conventional OPT Participants, either directly or via intermediary institutions, filing DNDF Transactions with Bank Indonesia via a dealing system or other designated transaction platform; 2) Submissions must include details such as participant’s name, transaction date and foreign currency types; 3) Conventional OPT participants must place bids of at least US$ 1 million, with subsequent bids comprising multiples of US$ 1 million.

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The Board of Governors of Bank Indonesia ("BI") recently issued Regulation No. 3 of 2024 on the Fourth Amendment ("Amendment") to Regulation of the BI Board of Governors No. 22/23/PADG/2020 on the Implementation of Open-Market Operations.
This Amendment introduces a number of provisions that specifically address secure Conventional Open-Market Operations (Operasi Pasar Terbuka – "OPT") and Repurchase Agreements ("Repo"). It also allows for transactions that utilize non-auction mechanisms to be conducted directly between Bank Indonesia and conventional OPT participants or via intermediary institutions.
The submission process for Conventional OPT Repo Transactions without an auction mechanism involves: 1) Participants proposing transactions to Bank Indonesia either directly or via intermediaries using the BI-ETP System or other approved methods; 2) Offers must include details of the relevant nominal values, security types and series for each transaction period; 3) Each bid must amount to at least Rp. 1 billion with subsequent increments of Rp 100 million.
Bank Indonesia is also set to introduce a non-auction Domestic Non-Deliverable Forward ("DNDF") Transaction Plan and its various changes prior to the DNDF Transaction time window on a non-auction basis being opened through the dealing system and other information facilities at the latest. This will include several types of information, specifically: 1) Transaction date; 2) Transaction participant; 3) Transaction window time; and so forth.
The non-auction DNDF Transaction Submission process involves: 1) Conventional OPT Participants, either directly or via intermediary institutions, filing DNDF Transactions with Bank Indonesia via a dealing system or other designated transaction platform; 2) Submissions must include details such as participant’s name, transaction date and foreign currency types; 3) Conventional OPT participants must place bids of at least US$ 1 million, with subsequent bids comprising multiples of US$ 1 million.

......

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Semua Fitur Paket Professional
Layanan Penerjemahan Peraturan
Precedent Hukumonline
Virtual Discussion

PROFESSIONAL

Rp 4.500.000

per bulan

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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