Regulatory Alerts2024-10-10
Regulation of Member of Board of Governors Number 15 of 2024 on Amendment to Bilateral Transaction Settlement Using Rupiah and Yuan
Bank Indonesia issued Regulation Number 15 of 2024 to amend the framework for bilateral transactions between Indonesia and China settled in rupiah and yuan. The regulation updates criteria for Appointed Cross Currency Dealer Banks, streamlines special purpose non-resident account opening procedures, and establishes a USD 500,000 threshold for underlying transaction documentation. It also mandates daily direct quotation displays and enhances supervisory coordination with Chinese authorities to improve settlement efficiency.
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