Highlights:

1.             To promote more effective and efficient state cash management, the Government has launched in the Treasury Single Account (TSA) at State Treasury Offices, involving the collaboration of Participants of the Bank Indonesia Real Time Gross Settlement System (BI-RTGS System) and Participants of the Bank Indonesia National Clearing System (SKNBI) in processing TSA transactions through the BI-RTGS System and SKNBI.

2.              This Circular Letter of Bank Indonesia governs, among others, the following:

a.              Implementing parties for the TSA;

b.             Types of transactions, use of Transaction Reference Numbers (TRN) and transaction codes in implementation of the TSA; and

c.               Charging of TSA transaction fees.

3.              Under this Circular Letter:

a.             TRN IFTSA001 may be used only for transactions in amounts greater than Rp 100,000,000.00 (one hundred million rupiahs), while transactions less than Rp 100,000,000.00 (one hundred million rupiahs) must be processed through the SKNBI.

b.              For transactions less than Rp 100,000,000.00 (one hundred million rupiahs) placed after the scheduled time for transmission of Credit Electronic Financial Data (EFD) in the Second Credit Clearing Cycle, the BI-RTGS System Participant may still send the transaction using TRN IFTSA002.

4.             When placing TSA transactions, Participants of the BI-RTGS System and SKNBI shall be charged a transaction fee of Rp 0.00 (zero rupiahs). For transactions place for purposes other than the TSA, Participants of the BI-RTGS System and SKNBI are charged fees under the regulations governing the BI-RTGS System and SKNBI. BI-RTGS System Participants and SKNBI Participants using the TRN or the TSA transaction code for non-TSA transactions are charged a fee under the regulations governing the BI-RTGS System and SKNBI plus an administration charge of Rp 5,000.00 (five thousand rupiahs).

5.             During the transitional period until end-December 2008, TSA transactions placed by Participants through the SKNBI shall be charged the credit clearing transaction fee in advance, and this fee will be refunded by Bank Indonesia at the beginning of the following month.

6.              With the enactment of this Circular Letter, Circular Letter of Bank Indonesia No. 9/22/DASP dated 1 October 2007 concerning User Fees for the Bank Indonesia Real Time Gross Settlement System and Bank Indonesia National Clearing System for Operation of the Treasury Single Account is revoked and declared no longer valid.