BY THE GRACE OF GOD ALMIGHTY THE
BOARD OF COMMISSIONER OF FINANCIAL SERVICES AUTHORITY
Considering
:
a. that in order to provide legal certainty and efficiency for the perpetrators of the Repo transaction, we need a standard agreement used by the parties;
b. that the Global Master Repurchase Agreement (GMRA) is a standard agreement Repo transactions are used in various countries;
c. that the Global Master Repurchase Agreement (GMRA) Indonesia Annex is a standard agreement Repo transactions adapted to the conditions that exist in Indonesia;
d. Based on the considerations referred to in paragraphs a, b, and c, it is necessary to stipulate Regulation of the Financial Services Authority on Guidelines for Using Repurchase Agreement with Indonesia GMRA Annex.
Given
:
a. Law Number 21 Year 2011 on the Financial Services Authority (State Gazette of the Republic of Indonesia Year 2011 Number 111, Supplement to the State Gazette of the Republic of Indonesia Number 5253);
b. Law No. 8 of 1995 concerning Capital Market (State Gazette of the Republic of Indonesia Year 1995 Number 64, Supplement to the State Gazette of the Republic of Indonesia Number 3608);
c. Act No. 24 of 2002 concerning Government Securities (State Gazette of the Republic of Indonesia Year 2002 Number 110, Supplement to the State Gazette of the Republic of Indonesia Number 4236); and
d. Law Number 19 Year 2008 concerning Sharia Securities (State Gazette of the Republic of Indonesia Year 2008 Number 70, Supplement to the State Gazette of the Republic of Indonesia Number 4852).
DECIDES
To stipulate
:
REGULATION AUTHORITY FINANCIAL SERVICES ON GUIDELINES FOR REPURCHASE AGREEMENT WITH GMRA INDONESIA ANNEX,
PART I
GENERAL PROVISIONS
Article 1
In this regulation the following meanings:
1. Repurchase Agreement, hereinafter referred to as Repo transactions are securities with a promise to buy back at a time and price that has been set.
2. Reverse Repurchase Agreement, hereinafter called the Reverse Repo transaction securities purchased under agreements to resell at a time and price that has been set.
3. Global Master Repurchase Agreement (GMRA) is a standard agreement Repo and Reverse Repo transactions issued by the International Capital Market Association (ICMA).
4. Indonesia GMRA Annex is GMRA and its attachments set by the Financial Services Authority.
5. Financial Services Authority, hereinafter referred to as the FSA, is an institution that is independent and free from interference by other parties, which has the functions, duties, and authority to regulate, control, inspection, and investigation as referred to in the Law of the Republic of Indonesia Number 21 of 2011.
6. Bank Indonesia is the central bank of the Republic of Indonesia as stipulated in the Constitution of the Republic of Indonesia Year 1945.
7. Financial Services Institute is an organization that conducts activities in the sector of Banking, Capital Markets, Insurance, Pension Funds, Financing Institutions, and other financial services institutions as defined in the Law of the Republic of Indonesia Number 21 of 2011.
8. Central Securities Depository is an institution that was established with the aim to provide a central depository and transaction settlement orderly, fair, and efficient as defined in the Law of the Republic of Indonesia Number 8 Year 1995.
9. Beneficiary of Securities Transaction Report is a Person authorized by the FSA to provide a system and / or the facilities and receive reporting Transaction.
Article 2
(1) This regulation applies to transactions Repo and Reverse Repo conducted by the Institute of Financial Services.
(2) The provisions referred in paragraph (1) applies to transactions Repo and Reverse Repo Securities listed and settlement by Bank Indonesia and / or the Central Securities Depository.
Article 3
(1) Each transaction Repo and Reverse Repo Securities as referred to in Article 2 paragraph ( 1) shall use GMRA Indonesia Annex.
(2) in the case of the Institute of Financial Services transactions Repo and Reverse Repo by state agencies in the implementation of monetary operations and fiscal it is excluded from the obligation to use GMRA Indonesia Annex.
(3) Institute of Financial Services that executes transactions Repo and Reverse Repo as referred to in paragraph (1) shall comply with the standards of conduct transactions Repo and Reverse Repo set by the FSA.
(4) in the event that the parties agreed on the clauses in addition GMRA Indonesia Annex, then it can be done does not conflict with Regulation of the FSA's.
Article 4
(1) Each transaction Repo and Reverse Repo shall be followed by changes in the ownership of securities.
(2) in the event of non-compliance (default) in the Repo and Reverse Repo, the transaction is a sale and purchase transactions dropped out ( outright) without prejudice to the obligations of the parties fail to settle its obligations.
CHAPTER II
REQUIREMENTS
Article 5
Institutions Financial Services who conduct transactions Repo and Reverse Repo shall memastik
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