06 Mar 2019
Bank Indonesia Issues New Regulation on Prudential Rules for Offshore Debt and FX-denominated Liabilities in Banking Sector
A. Introduction Bank Indonesia (BI) has issued a new umbrella regulation on the application of prudential norms to limit the exposure of Indonesian banks to offshore debt and foreign currency (“FX”)-denominated liabilities. The regulation (No. 21/1/PBI/2019 – “Reg. 21”)[1] entered into force on 1 March 2019. Reg. 21 revokes BI Reg. No. 7/1/PBI/2005,[2] as amended four…
04 Mar 2019
Bank Indonesia Revisits Forex-Activity Reporting Requirements
A. Introduction Bank Indonesia has issued a new regulation (No. 21/2/PBI/2019 of 2019 / “Reg. 21”)[1] on the reporting of foreign exchange-related (“forex”) activities between Indonesian residents and non-residents. Reg. 21, which was issued on 7 January 2019 and entered into force on 1 March 2019, revokes those provisions of Bank Indonesia Regulation No. 16/22/PBI/2014 of…
01 Mar 2019
Director General of Foreign Trade Issues Guidelines on Mandatory Use of Domestic Insurers for Prescribed Imports/Exports
A. Introduction The Ministry of Trade’s Director General of Foreign Trade has issued a new regulation (No. 02/DAGLU/PER/1/2019 - DG Reg. 02)[1] that sets out technical guidelines governing the mandatory insuring of prescribed imports/exports with domestic insurers pursuant to Minister of Trade Regulation No. 82 of 2017,[2] as lastly amended by Minister of Trade Regulation No. 80 of 2018.[3]…