Indonesia

Banks have also been told not to use debt collectors during the Covid-19 pandemic, and to instead help customers by restructuring existing debt and granting new subsidised loans.

IDX halted trading to end Thursday, just a day after tightening the circuit breaker mechanism. The pre-opening session is suspended until further notice.

Short selling was halted to stop panic selling after the first two cases of Covid-19 were detected in the country. Separately, the central bank has introduced 5 new policy measures.

The MOU aims to provide a framework for closer cooperation between the Philippine and Indonesian central banks to achieve enhance their payment systems and promote digital financial innovation.

The integration aims to minimise redundant and inconsistent information, while simultaneously improving bank operational efficiency and the quality of reported data.

Japan and Indonesia have agreed on a local currency settlement deal that will allow the use of the yen and rupiah to settle bilateral trade and direct investment transactions.

The new rules from Bank Indonesia will take effect from June 2020, but the first CCPs for derivatives markets are unlikely to be operational until 2023.

Singapore's Liquid Group and Indonesia's CIMB Niaga have established a partnership to accelerate adoption of cross border QR payments.

Bank Indonesia’s roadmap for the payments system includes plans for open banking, real-time retail payments and a digital ID system.

In its April quarterly round-up, ISDA detailed efforts in the three jurisdictions to ensure legal certainty on close-out netting, seen to be a critical issue for derivatives market development.