Regulatory Alerts2008-12-22
Bank Indonesia Circular Letter No. 10/46/DInt on Offshore Loans of Non-Bank Corporations
Bank Indonesia issued Circular Letter No. 10/46/DInt to establish implementing regulations for offshore loans by non-bank corporations under Regulation 10/7/PBI/2008. The directive mandates that corporations adopt risk management functions covering market, credit, and liquidity risks, and require long-term borrowers to obtain credit ratings from recognized agencies. Additionally, the circular specifies detailed reporting obligations, including the submission of financial ratios, reports, and loan plans to Bank Indonesia within strict semi-annual and annual deadlines.
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