JAKARTA: Bank Indonesia plans to hold an auction of US dollar denominated term deposit monetary instrument on next Wednesday, June 13, 2012 seeing the readiness of domestic banking industry.
Bank Indonesia Monetary Management Executive Director Hendar said the foreign currency denominated term deposit launching will be set out in Bank Indonesia Regulation.
"BI Governor has signed the regulation last night, BI will disseminate it to banks this afternoon, the circular letter has been prepared,” he said today, June 8, 2012..
He added central bank has just waited for domestic banks readiness to take advantage of this foreign currency term deposit facility.
As for term deposit bidding mechanism will be through a weekly auction every Wednesday. But, the bid will be opened on other days depending on central bank interest.
"If banks are ready, we can start next week. We look forward for the system readiness," he said. (T07/TW)