Regulatory Alerts2015-11-13
Bank Indonesia Circular No. 17/30/DPSP on Operation of Real Time Fund Settlement through Sistem BI-RTGS
Bank Indonesia issued Circular No. 17/30/DPSP to establish implementing regulations for the operation of real-time fund settlement via the Sistem BI-RTGS infrastructure. The document defines key operational terms, outlines the Operator's duties regarding system reliability and participant monitoring, and specifies eligibility criteria and application procedures for banks and other institutions seeking participation. It further details the administrative requirements for becoming a participant, including fit and proper tests, security audits, and the authorization of proxy officials for system access.
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