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Indonesia – Latest Banking & Finance Legal Developments.

29 July, 2013

 

Bank Indonesia Regulation No. 15/2/PBI/2013, dated May 20, 2013, regarding Stipulation of the Status and Follow-Up on the Supervision of Conventional Banks. This Regulation states that Bank Indonesia is authorized to stipulate the supervision status of conventional banks. Such supervision status consists of Normal Supervision, Intensive Supervision, and Special Supervision. This Regulation only applies to conventional commercial banks and revokes Bank Indonesia Regulation No. 13/3/PBI/2011 regarding Stipulation of the Status and Follow-Up on Bank Supervision. This Regulation came into effect on the date of its stipulation, on May 20, 2013.

 

Bank Indonesia Circular Letter No. 15/19/DPM, dated May 15, 2013, regarding the Second Amendment to Bank Indonesia Circular Letter No. 10/48/DPD regarding Foreign Exchange Transactions in Rupiah. This Circular Letter was issued to create a credible exchange rate reference for the formation of efficient prices. It is expected to be able to support Bank Indonesia’s efforts to maintain the stability of the Rupiah exchange rate. This Circular Letter came into effect on May 20, 2013.

 

Minister of Finance Regulation No. 81/PMK.07/2013, dated April 12, 2013, regarding Emergency Fund Management Procedures. This Regulation implements the provisions of Article 15 of Government Regulation No. 44 of 2012 regarding Emergency Funds, namely the procedures for the management of emergency funds. The emergency funds are derived from state revenues and the expenditure budget allocations and shall be used to finance rehabilitation and reconstruction activities in areas that have suffered a national disaster and/or other extraordinary event. This Regulation came into effect on the date of its enactment, on April 12, 2013. 

 

SSEK

 

For further information, please contact:

 
Dyah Soewito, Partner, Soewito Suhardiman Eddymurthy Kardono
dyahsoewito@ssek.com
  
 
Banking & Finance Law Firms in Indonesia

 

 

 

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