ASPAC LIBOR Readiness Report - Indonesia Edition
ASPAC LIBOR Readiness Report - Indonesia Edition
As per January 2019, JIBOR has been switched to IndONIA for overnight rates. Both rates are daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Indonesia wholesale money market. On the international front, LIBOR is being replaced with SOFR, and is estimated to be fully transitioned by the end of 2021. As banks in Indonesia reference these rates for their products, this transition can lead to significant impact to the Bank’s pricing, contracts, methodologies and business processes.
KPMG performed road show and conducted survey regarding LIBOR transition in 2019 across Asia Pacific countries, including Indonesia. With this report, we are hoping to bring awareness of where your Bank should stand today in regards with LIBOR transition implementation program.
© 2024 KPMG Advisory Indonesia, an Indonesian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://kpmg.com/governance.
They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.