Clearing System SKNBI is the Bank Indonesia Clearing syst em t hat covers debit clearing and credit clearing
w it h set t lem ent conduct ed on a nat ionw ide basis. Set t lement during debit clearing and credit clearing is
conduct ed by t he Nat ional Clearing Operat or on t he basis of t he result s of net mult ilat eral calculat ion and
t he novat ion principle and is f inal and irrevocable. Set t lement also t akes place on t he basis of same-day
settlement. Debit notes issued by a Bank for processing in debit clearing in t he SKNBI are rest rict ed in amount
t o no more t han Rp 10 million per debit not e. Credit t ransf ers processed in credit clearing are rest rict ed t o
no more t han Rp 100 million per t ransact ion.
16. Real Time Gross Settlement RTGS
To su p p o r t t h e ach i evem en t o f an ef f i ci en t , expedit ious, secure, and reliable payment syst em f or
upholding f inancial syst em st abilit y, Bank Indonesia h as im p lem en t ed t h e Ban k In d o n esia Real Tim e
Set t lement syst em BI-RTGS. BI-RTGS is a syst em f or electronic funds transfer among M embers in the rupiah
currency w it h set t lement processed on an individual per t ransact ion basis.
17. Intercity Clearing
Any bank t hat is regist ered and approved by BI may conduct t he clearing of checks and bilyet giro issued
by bank off ices t hat are not members in t he Clearing Area in w hich t he checks and bilyet giro are cleared.
Th e b en ef it s o f In t ercit y Clearin g are im p ro ved eff iciency in t ime and cost s due t o:
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Funds becom e available f rom checksbilyet giro according t o t he local clearing schedule w here t he
not es are cleared same day set t lement
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Processing f ees charged by BI are t he same as f or ot her local clearing inst rument s
18. Bank Indonesia Certificates SBIs
SBIs are Rupiah-denominat ed securit ies issued by BI in recognit ion of short -t erm debt and comprise one
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of t he inst rument s used in Open M arket Operat ions. The t erm of SBIs is at least 1 mont h and no more t han
12 months. SBIs are issued in scrip less form and traded using t he discount syst em. SBIs may be held by banks
an d o t h er p ar t ies as st ip u lat ed b y BI, an d are negot iable. SBIs may be purchased on t he primary
market and t raded on t he secondary market under repurchase agreement s repo or in out right purchase
sale.
19. Bank Indonesia Wadi’ah Certificates SW BIs
To support t he management of f unds by Sharia Banks an d Sh ar ia Divisio n s an d BI’s m o n et ar y co n t ro l
operat ions, BI provides a short -t erm f und placement f acilit y under t he w adi’ah principle. The documentary
proof of w adi’ah fund placement at BI is referred to as SW BI. Term s of placem ent are 7, 14, and 28
calen d ar d ays, an d t h e m in im u m am o u n t o f a placement is Rp 500 million. Fund placement of f unds
in excess of Rp 500 m illion m ay be m ade only in m ult iples of Rp 50 m illion. SW BIs are issued and
administered in scrip less form and are non-negotiable.
20. Bank Secrecy
Ban k secr ecy co ver s ever yt h i n g p er t ai n i n g t o inf ormat ion on deposit ors and t heir deposit f unds.
Inf ormat ion on cust omers ot her t han deposit ors does not come under t he scope of inf ormat ion t hat must
be kept conf ident ial by banks. This provision also applies t o aff iliat ed part ies.
The bank secrecy provisions do not apply t o: a. M at t ers pert aining t o t axat ion
b. Set t lement of bank claims placed in t he hands of the State Receivables and Auction Agency BUPLN
St at e Receivables Commit t ee PUPN c. Judicial process in criminal proceedings
d. Judicial process in civil proceedings bet w een banks and customers
e. Exchange of int erbank inf ormat ion f. Req u est , ap p ro val, o r p o w er-o f -at t o r n ey o f a
deposit or draw n up in w rit ing
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g. Request by legal heir of deceased deposit or h. For purposes of examinat ion pert aining t o money
laundering. Implement at ion of t he provisions in let t ers a, b, and c,
shall require prior w ritten order or approval for w aiving of bank secrecy f rom t he management of BI, w hile
implement at ion of t he provisions in let t ers d, e, f , g, and h shall not require such order or approval.
21. Government Securities SUN
