Indonesia: CPSS Core Principles for Systemically Important Payment Systems

International Monetary Fund

No 2012/187, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents key findings of the Financial Sector Assessment Program for Indonesia. The program covers Bank Indonesia’s real-time gross settlement (BI-RTGS) system’s observance of the Committee on Payment and Settlement Systems (CPSS) core principles for systemically important payment systems (SIPS). The assessment reveals that the legal foundation for payment systems in Indonesia is generally sound with explicit provisions for the central bank’s involvement in payment systems. The BI-RTGS generally functions well and is recognized as the only SIPS in Indonesia.

Keywords: ISCR; CR; payment system; BI oversight function; BI RTGS; BI power; BI staff; Act No.23; branches BI; BI Responsibilities; BI lodge; BI branch; BI statute; system objective; Payment systems; Real time gross settlement systems; Clearing and settlement systems; Credit risk; Credit (search for similar items in EconPapers)
Pages: 28
Date: 2012-07-18
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