Rabu, Oktober 2, 2024

KPEI Updates Framework on Fees for Lending and Borrowing of Regular Securities

In a bid to support the optimization of Regular Securities Lending and Borrowing Services (Pinjam Meminjam Efek Regular “PME Regular”) for Loan Members Borrowing Securities (Anggota Pinjam Meminjam Efek – “APME”), PT Kliring Penjaminan Efek Indonesia (“KPEI”) has decided to adjust various provisions that were originally outlined under Circular of Board of Directors of KPEI No. SE-001/DIR/KPEI/0124 (“Circular 1/2024”) through the issuance of Circular of the Board of Directors of KPEI No. SE-008/DIR/KPEI/0924 (“Circular 8/2024”), which has been in force since 1 October 2024. Upon the enforcement of Circular 8/2024, the above-mentioned framework of Circular 1/2024 was repealed and replaced.
At its core, the new framework of Circular 1/2024 revises the applicable PME Regular fees. The new fee structure breaks down as follows: 1) Borrowing fee rate (i.e. the fee rate that is charged to borrowers): 18% p.a. (previously 15%); 2) Lending revenue rate (i.e. the revenue rate earned by lenders): 15% p.a (previously 12%); and 3) The minimum threshold charge that can be imposed upon borrowers: Rp. 500,000 per transaction with loan transactions that amount to less than Rp. 500,000.
In terms of the minimum charge outlined in point (3) above, Circular 8/2024 outlines applicable provisions for the imposition of the minimum charge and its reimbursement, as follows: 1) If the total borrowing fee amounts to less than Rp. 500,000: minimum charge of Rp. 500,000; or 2) If the total borrowing fee exceeds or equals Rp. 500,000: a minimum charge amount will be imposed in line with the actual calculation of the relevant borrowing fees.
It should also be noted that Circular 8/2024 has newly established that the minimum lending revenue rate accepted by the lender amounts to 15/18 of Rp. 500,000 or Rp. 416,666. Moreover, the closing price is to be used as a reference during calculations of the PME Regular fee closing price T+0.

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In a bid to support the optimization of Regular Securities Lending and Borrowing Services (Pinjam Meminjam Efek Regular “PME Regular”) for Loan Members Borrowing Securities (Anggota Pinjam Meminjam Efek – “APME”), PT Kliring Penjaminan Efek Indonesia (“KPEI”) has decided to adjust various provisions that were originally outlined under Circular of Board of Directors of KPEI No. SE-001/DIR/KPEI/0124 (“Circular 1/2024”) through the issuance of Circular of the Board of Directors of KPEI No. SE-008/DIR/KPEI/0924 (“Circular 8/2024”), which has been in force since 1 October 2024. Upon the enforcement of Circular 8/2024, the above-mentioned framework of Circular 1/2024 was repealed and replaced.
At its core, the new framework of Circular 1/2024 revises the applicable PME Regular fees. The new fee structure breaks down as follows: 1) Borrowing fee rate (i.e. the fee rate that is charged to borrowers): 18% p.a. (previously 15%); 2) Lending revenue rate (i.e. the revenue rate earned by lenders): 15% p.a (previously 12%); and 3) The minimum threshold charge that can be imposed upon borrowers: Rp. 500,000 per transaction with loan transactions that amount to less than Rp. 500,000.
In terms of the minimum charge outlined in point (3) above, Circular 8/2024 outlines applicable provisions for the imposition of the minimum charge and its reimbursement, as follows: 1) If the total borrowing fee amounts to less than Rp. 500,000: minimum charge of Rp. 500,000; or 2) If the total borrowing fee exceeds or equals Rp. 500,000: a minimum charge amount will be imposed in line with the actual calculation of the relevant borrowing fees.
It should also be noted that Circular 8/2024 has newly established that the minimum lending revenue rate accepted by the lender amounts to 15/18 of Rp. 500,000 or Rp. 416,666. Moreover, the closing price is to be used as a reference during calculations of the PME Regular fee closing price T+0.

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