The purposes of this assignment are:

[1] To draft an academic paper and regulations that can recuperate market mechanisms to improve the risk value of SMF, attract investors to SMF bonds, and encourage investors to buy them - especially banks. In addition to policy input, coordination is also needed with Bank Indonesia and OJK as well as capacity building in regulatory and governance reforms.

[2] To achieve regulatory reform and capacity building of PT Sarana Multigriya Financial (SMF) in supporting the development of the housing industry in Indonesia.

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The scope of duties and work of consultancy services includes 3 (three) sub-activities:

[1]? Supporting changes to SMF regulatory frameworks include:

[a]? Preparing study report related to cost/benefit and economic analysis of the expansion of business activities and amendment of SMF regulations;

[b]? Drafting FSA / Bank of Indonesia regulations that support at least: (i) bonds and MBS issued by SMF can be used by the bank as the underlying to obtain liquidity from Bank Indonesia; (ii) establishment of guidelines that apply to SMF bond and MBS owned by institutional investors, specifically with the calculation of concentration limit; (iii) reducing risk weigh factor for SMF bond and MBS owned by banks; (iv) treatment of SMF loans received by banks in the calculation of LFR / LDR and (v) favorable treatment for SMF MBS under liquidity rules in the Basel III framework.

[2]? Carry out capacity building;

[3]? Implement improvements to the Housing Finance Information System (HFIS).

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