Indonesia readies close-out netting after passing P2SK Law

Bankruptcy law changes remove close-out netting obstacles

Waterfront in Jakarta, Indonesia
The waterfront in Jakarta, Indonesia

Indonesia’s new omnibus law, introduced to regulate the financial sector, may pave the way for legal clarity on the enforceability of close-out netting for derivatives transactions in the country.

The Financial Sector Omnibus Law, or ‘P2SK Law’, enacted on January 12, is a sweeping reform that amends 17 laws in Indonesia’s financial sector, including those on banking, capital markets, insurance, futures trading and bankruptcy proceedings. Once regulators implement new rules reflecting the

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