Regulatory Alerts2021-03-31
Bank Indonesia Regulation Number 23/4/PBI/2021 on the Fourth Amendment to Bank Indonesia Regulation Number 15/17/PBI/2013 on Hedge Swap Transactions to Bank Indonesia
Bank Indonesia issued this regulation to amend the framework for Hedge Swap Transactions to support rupiah stability and deepen the domestic foreign exchange market. The amendment mandates the use of the Jakarta Interbank Spot Dollar Rate (JISDOR) as the reference rate for calculating spot rates and cross rates in these transactions. It also updates the sanction provisions for regulatory breaches, specifying monetary penalties and interest margins based on JISDOR, the Fed Fund rate, and the Bank Indonesia policy rate.
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