Bank Indonesia Regulation No. 10/5/PBI/2008 - Amendment To Bank Indonesia Regulation Number 5/6/PBI/2003 Concerning Domestic Letter Of Credit

BANK INDONESIA REGULATION
NUMBER 10/5/PBI/2008
CONCERNING
AMENDMENT TO BANK INDONESIA REGULATION NUMBER 5/6/PBI/2003 CONCERNING DOMESTIC LETTER OF CREDIT BY THE GRACE OF THE ALMIGHTY GOD THE GOVERNOR OF BANK INDONESIA, Considering: a. whereas in the implementation of duties in monetary, banking and payment system sectors requires to be supported by the availability of information which may be used as the basis for the determination of correct, effective and measureable monetary, banking and payment system policies; b. whereas with the implementation of the integrated On￾Line Commercial Bank Head Office Report can support the availability of information submitted by banks accurately, correctly and completely which may be accessed simultaneously;

c. whereas the reporting regulation concerning Domestic
Letter of Credit which is currently prevailing needs to be adjusted to be in line with the provisions of the prevailing commercial bank head office report; d. whereas based on the considerations as referred to in letter a, letter b and letter c it is deemed necessary to amend the provisions concerning the Domestic Letter of Credit, in Bank Indonesia Regulation; In View Of: 1. Act Number 7 of 1992 concerning Banking (State Gazette of the Republic of Indonesia Number 31 of 1992, Supplement to the State Gazette of the Republic of Indonesia Number 3472) as amended by Act Number 10 of 1998 (State Gazette of the Republic of Indonesia Number 182 of 1998, Supplement to the State Gazette of the Republic of Indonesia Number 3790);
2. Act Number 23 of 1999 concerning Bank Indonesia
(State Gazette of the Republic of Indonesia Number 66 of 1999, Supplement to the State Gazette of the Republic of Indonesia Number 3843) as amended by Act Number 3 of 2004 (State Gazette of the Republic of Indonesia

Number 7 of 2004, Supplement to the State Gazette of the Republic of Indonesia Number 4357);
3. Bank Indonesia Regulation Number 5/6/PBI/2003
concerning Domestic Letter of Credit (State Gazette of the Republic of Indonesia Number 51 of 2003, Supplement to the State Gazette of the Republic of Indonesia Number 4289);
4. Bank Indonesia Regulation Number 10/3/PBI/2008
concerning Commercial Bank Head Office Report (State Gazette of the Republic of Indonesia Number 12 of 2008, Supplement to the State Gazette of the Republic of Indonesia Number 4810); H A S D E C R E E D:
To enact: THE BANK INDONESIA REGULATION CONCERNING AMENDMENT TO BANK OF INDONESIA REGULATION NUMBER 5/6/PBI/2003 CONCERNING DOMESTIC LETTER OF CREDIT.

Article I
Several provisions in Bank Indonesia Regulation Number 5/6/PBI/2003 concerning Domestic Letter of Credit (State Gazette of the Republic of Indonesia Number 51 of 2003, Supplement to the State Gazette of the Republic of Indonesia Number 4289) are amended as follows:

1. The provisions of Article 27 is amended so as to read as follows:
   Article 27
   The Bank is obliged to submit the SKBDN report on a monthly basis by referring to Bank Indonesia provisions on Commercial Bank Head Office Report.
2. Article 28 is amended so as to read as follows:
   Article 28
   Bank which does not fulfill the obligation as referred to in Article 27 shall be sanctioned in accordance with the prevailing Bank Indonesia Regulation concerning Commercial Bank Head Office Report.
   Article II

This Bank Indonesia Regulation shall come into force on the date of its enactment For the public to be informed, it is ordered that this Bank Indonesia Regulation be promulgated in the State Gazette of the Republic of Indonesia. Enacted in Jakarta Dated: February 15, 2008 GOVERNOR OF BANK INDONESIA, (signed) BURHANUDDIN ABDULLAH Promulgated in Jakarta February 15, 2008 THE MINISTER FOR LAW AND HUMAN RIGHTS OF THE REPUBLIC OF INDONESIA (signed)

ANDI MATTALATTA
STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 31 OF 2008 DInt/UKMI