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Pojk Repurchase Agreement

decembrie 15, 2020

JAKARTA, KOMPAS.com – The Financial Services Authority (OJK) has established a market standard for repo operations that are developing on the domestic stock market. This document aims to determine the protection of buyers of pension transactions (REPO) on the capital market, in accordance with the financial services authority regulation 09/POJK.04/2015 relating to the pensions guidelines of financial institutions (POJK REPO). Initially, REPO`s transactions are considered to be loan transactions and credit securities between two parties on the basis of an agreement. Then, on a predetermined date, the same return on securities is given at the agreed price. However, after the issuance of POJK REPO, the REPO transaction is considered a sale and purchase transaction involving a pension transaction. Therefore, the initial opinion that repo is a credit and loan transaction is no longer valid. In the Global Master Indonesia Repurchase Agreement (GMRA Indonesia), the liability of the repo seller is unclear whether the value of the securities held by the buying party of the REPO cannot meet the value that the seller must pay on the date of redemption. Despite the fact that Indonesia had reverse transaction guidelines, that GMRA Indonesia had in accordance with the Financial Services Authority Number 9/POJK.04/2015, the liability of the repo seller was not explicitly established. „Repo is, it`s securities financing, so the equity can be guaranteed or used to get the source of the financing. According to the agreement, there is a market standard to improve the integrity of players,” said OJK Capital Market Supervisory Chief Executive Hoesen on Tuesday 21.05.2019 in Jakarta.

„The availability of market standards should enable market participants to understand the rules and mechanisms of repo operations, increase the volume and number of repo players in Indonesia, and apply high standards of professionalism in line with best market practices, so that uncertainty or conflicts are minimized in the conduct of repo operations,” Karman said. . POJK 9. Pensions guidelines for financial services institutions.pdf Bank Indonesia Circular Letter Number 10/2/DDM of 31 January 2008 regarding pension transactions with Indonesia Bank on the capital market. In order to make repurchase transactions more transparent, OJK creates „market standard” „We are thinking again about all re boarding transactions or anything transparency is increased by reporting to the stock exchange. It is now reported, but there has never been a status like the one that was lacking from the beginning,” he said. . Revina Hikmaty Fadilla, Budiharto (et.all), Responsibility of the Directors of Securities Companies Conducting Bond Repurchase Agreement (Repo) Transactions, Jurnal, Diponegoro University, Semarang, 2016. Khaerul Umam, Sharia Capital Market and Sharia Capital Market Practice, Pustaka Setia, 2016 Bandung, 2013. Diana Wiyanti, Frency Siska (et.all), Review of Criminal Laws in the Capital Market For the Implementation of the Supervisory Function After the Birth of Law 21 of 2011 on the Financial Services Authority, Journal, Proceedings of SnaPP Social, Economic, and Humanities Research Institute of Community Service Insitas Islamung, Bandung, 2014.