Regulatory Alerts2009-07-07
Regulation of Bank Indonesia Number 11/30/PBI on Intraday Liquidity Facility Based on Sharia
Bank Indonesia issued Regulation Number 11/30/PBI to establish the Sharia Principle-Based Intraday Liquidity Facility (FLIS) for banks participating in the BI-RTGS and SKNBI systems. The regulation mandates that eligible banks obtain prior approval and provide specific documentation to utilize this same-day repurchase-based funding when their rupiah giro account balances are insufficient for outgoing transactions or final settlement obligations. FLIS is automatically settled upon incoming transactions or converted into a one-day repurchase transaction if not settled by the deadline, while revoking the previous 2005 regulation on the same facility.
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