Bank Indonesia Regulation No. 13/22/PBI/2011 Concerning Withdrawal of Foreign Exchange from External Debt Reporting Obligation

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Sumber Data Legal Information Team, Directorate of Legal Affairs

9/30/2011 10:38 AM

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Judul Bank Indonesia Regulation No. 13/22/PBI/2011 dated 30 September 2011 concerning Withdrawal of Foreign Exchange from External Debt Reporting Obligation

Peraturan Bank Indonesia

Moneter dan Pasar Keuangan

Berlaku

Bank Indonesia Regulation

Monetary

Effective

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Page Content Bank Indonesia Regulation No. 13/22/PBI/2011 dated 30 September 2011 concerning Withdrawal of Foreign Exchange from External Debt Reporting Obligation

Summary:

I.

Background

1.

One of the issues currently facing Indonesia is exchange rate volatility arising from instability in the supply of foreign currency on the domestic market. The dominance of foreign ownership in portfolio investment has potential to render the Indonesian economy more susceptible to the risk of sudden capital reversal. In order to anticipate and minimise this risk, there needs to be relatively stable continuity in the supply of foreign currency funds.

2.

Foreign currency funds originating from withdrawal of foreign exchange from external debt are envisaged as one alternative for providing a more stable source of funds in comparison to funds from portfolio investments by foreigners.

3.

In view of this, Bank Indonesia deems it necessary to issue a policy requiring foreign exchange from external debt to be withdrawn through Foreign Exchange Banks. To ensure the effective operation of the policy for withdrawal of foreign exchange from external debt, Debtors holding External Debt (ULN) are required to report the withdrawal of foreign exchange from external debt to Bank Indonesia.

II.

Key Regulatory Provisions

1.

External Debt (ULN) Debtors are required to report each withdrawal of foreign exchange from external debt (DULN) through a Foreign Exchange Bank to Bank Indonesia.

2.

DULN withdrawal reports shall be submitted to Bank Indonesia on a monthly basis from the 1st day until the 10th day of the subsequent month.

3.

DULN withdrawal reports must be accompanied by supporting documents.

4.

DULN withdrawal reports may be submitted online, offline or in hard copy.

5.

Any DULN reporting party that is late in reporting or fails to submit a DULN withdrawal report and any DULN reporting party that is late or fails to submit supporting documents to Bank Indonesia shall be liable to administrative sanctions imposed as a financial penalty.

6.

DULN withdrawal originating from a loan agreement signed before this Bank Indonesia Regulation comes into force is exempted from compulsory reporting of withdrawal of DULN.

Lampiran Attachments

Lampiran 1 Bank Indonesia Regulation No. 13/22/PBI/2011

Lampiran 2 FAQ - Bank Indonesia Regulation No. 13/22/PBI/2011

Lampiran 3

Lampiran 4

Lampiran 5

Lampiran 6

Lampiran 7

Lampiran 8

Lampiran 9

Lampiran 10

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Halaman ini terakhir diperbarui 1/27/2021 9:15 PM

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