Publication: Republic of Indonesia Financial Sector Assessment Program: CPSS Core Principles for Systemically Important Payment Systems
Date
2010-11
ISSN
Published
2010-11
Author(s)
International Monetary Fund
World Bank
Abstract
This assessment forms part of the joint
International Monetary Fund (IMF) and World Bank Indonesia
Financial Sector Assessment Program (FSAP) which is being
undertaken during 2009-2010. The assessment which covers the
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) and the Central Bank's
Responsibilities in applying the Core Principles was
conducted during the first mission. The assessment which was
conducted with the cooperation of the Bank Indonesia and
other key players in the payment systems area was undertaken
by Alice Zanza, Senior Payment Systems Specialist, World
Bank with the assistance of Bruce Summers, Senior Payment
Systems Advisor, World Bank. Although there are several
systems in operation in Indonesia, BI considers the Bank
Indonesia Real Time Gross Settlement (BI-RTGS) system to be
the only systemically important payment system in the
country. BI-RTGS is owned by BI and operated by the Payment
Systems Department in the Directorate of Accounting and
Payment Systems. To date, the assessment team does not have
any information to expand the scope of systemically
important payment systems in Indonesia and has conducted the
assessment of the RTGS system, as the sole SIPS in the country.
Citation
“International Monetary Fund; World Bank. 2010. Republic of Indonesia Financial Sector Assessment Program : CPSS Core Principles for Systemically Important Payment Systems. © Washington, DC. http://openknowledge.worldbank.org/handle/10986/27738 License: CC BY 3.0 IGO.”