- The Financial Services Authority (Otoritas Jasa Keuangan – "OJK") has issued Circular No. 16/SEOJK.03/2023 on Capital Calculations for Bank Exposure to Central Counterparty Agencies (Lembaga Central Counterparty – "CCP"), which has been in force since 19 October 2023.
- Banks are now required to perform exposure calculations in relation to their CCP transactions, which should be categorized as transactions that are cleared (dikliringkan) through either qualifying CPP or non-qualifying CPP.
- Said exposure calculations for transactions that are completed through CCP, encompass the following areas: 1) Exposure of banks that are acting as CCP members and/or as customers; 2) Exposure relating to transaction collateral with CCP; and 3) Exposure relating to default fund contributions, for banks that are acting as CCP members.
- Banks are now required to submit exposure reports online through the OJK’s reporting system on a monthly and quarterly basis. The formats and guidelines for said reports can be found under Appendix B to the Circular. Banks are also now required to publish their individual exposure reports, as well as consolidations for positions at the end of June and December.
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