Money market information center introduced<\/p>\n
JAKARTA (JP): Bank Indonesia is introducing a new money market
\ninformation center providing financial data to all commercial
\nbanks and money brokers in the country through a computerized
\nsystem.<\/p>\n
\"The center, which is integrated into the computers of its
\nsubscribers, is designed to give 24-hour on-line services,\" the
\nchief of the central bank's money market division, Dahlan
\nSutalaksana, said here yesterday.<\/p>\n
He was speaking at a signing ceremony to mark the transfer of
\nthe services from PT Aplikanusa Lintasarta, a data communication
\nand application network service company which engineers the
\ncenter's system, to the central bank, the operator of the network
\nservices. Yesterday's agreement on the transfer was signed by
\nDahlan and Taufik Akbar, president of Aplikanusa Lintasarta.<\/p>\n
Dahlan said that the center will provide financial details of
\nbanking activities, including the Jakarta Interbank Offered Rates
\n(JIBOR) for rupiah and foreign currencies; domestic and overseas
\ninterbank transactions of rupiah and foreign currencies;
\nconversion rates issued by the central bank and foreign exchange
\nbanks; base lending rates, both in rupiah and foreign currencies;
\ninterest rates on deposits and commercial papers, as well as
\nreports on the auction of Bank Indonesia Certificates (SBI) and
\nmoney market securities (SBPU).<\/p>\n
\"The center also carries reports on the developments in
\ninterest rates on SBI, SBPU, deposit certificates and commercial
\npapers traded in the money market, as well as banks' clearance
\nactivities,\" he said.<\/p>\n
He said all the processed data will be available for all
\nsubscribers.<\/p>\n
Link<\/p>\n
\"The center also provides a special link with the banks
\ncarrying confidential reports on clearance results and financial
\nstatements as well as their financial positions,\" he said.<\/p>\n
\"But all the confidential reports are available only for the
\ncentral bank, not for subscribers.<\/p>\n
\"With the new computerized system, the central bank will be
\nable to rapidly know about the performance of every bank
\noperating in the country,\" he said.<\/p>\n
It is expected the system will help the central bank improve
\nits supervision of commercial banks.<\/p>\n
Dahlan was optimistic that the integrated information center
\nalso will accelerate activities on the money market which has
\nthus far used telephones for its daily contacts or messengers for
\ncarrying documents.<\/p>\n
\"The system, I guarantee, is quite efficient for subscribers
\nbecause they do not have to wait until tomorrow for getting
\ntoday's latest information on the money market' activities,\" he
\nsaid.<\/p>\n
Taufik Akbar said that 185 banks have subscribed the service
\nof the center.<\/p>\n
\"Aplikanusa Lintasarta actually run for trial operation of the
\nsystem in 1992 with 20 banks. In October last year, our network
\ncovered 122 banks, and in March this year it covered 185 banks,\"
\nhe said.<\/p>\n
He said a subscriber pays around Rp 2 million per month for
\nthe network. \"The payment includes Rp 1.17 million for
\ntelecommunications service and Rp 858,804 for the hiring of
\nhardware,\" he said.<\/p>\n
Taufik said the central bank spent Rp 4 billion for the
\nprocurement of software, he added.<\/p>\n
Both Dahlan and Taufik said that the information could be made
\navailable not only for money brokers, but also for any
\ninstitutions in the country which need to use the data, except
\nconfidential data which belongs to the banks. (fhp)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/money-market-information-center-introduced-1447899208",
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"sponsor": "Okusi Associates",
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