Summary:

1. The amendment to Bank Indonesia Circular Letter is made in relation to the Amendment to Bank Indonesia Regulation Number 10/36/PBI/2008 dated December 10, 2008 concerning Sharia Monetary Operations as amended by Bank Indonesia Regulation Number 12/17/PBI/2010 dated August 30, 2010 as well as in order to harmonize the provisions on monetary operations.
2. The provision in Roman number III number 1.b is amended to read as follows:
   b. have minimum remaining validity tenure of 3 (three) business days as from 1 (one) day following the maturity of SBSN Repo.
3. Letter c is added to the provisions in Roman number V number 3 letter b.8), which reads as follows:
   c. In the event that the ouright transaction value is:
   1. Smaller than the second leg settlement liability, Bank Indonesia shall debit from the Demand Deposit Account an amount equal to the difference between the settlement liability value on the second leg and the outright transaction value.
   2. Greater than the second leg settlement liability, Bank Indonesia shall credit to the Demand Deposit Account an amount equal to the difference between the settlement liability value on the second leg and the outright transaction value.
4. The provision in Roman number VI point1.b is amended to read as follows:
   b. a financial penalty of 0.01% (one per ten thousandth) of the nominal value of the cancelled SBSN Repo, with the minimum amount of Rp10,000,000.00 (ten million rupiah) and the maximum amount of Rp100,000,000.00 (one hundred million rupiah).
5. Roman number VI number 1.c shall be amended to become Roman number 2, which reads as follows: Without prejudice to the sanctions as referred to in item VI.1, in the event that a Bank has made cancelled SBSN Repo transaction and/or other cancelled OMS transactions three times during 6 (six) month-tenure, the Bank shall be subject to temporary suspension of its participation in OMS activities for 5 (five) consecutive business days.
6. Appendix 3 shall be amended to be as set out in Appendix 3 to this Bank Indonesia Circular Letter.
7. This Bank Indonesia Circular Letter shall be effective on August 30, 2010.