Circular Letter No. 6/48/DPM The Fifth Alteration on Bank Indonesia Circular Letter No. 6/20/DPM Concerning The Interest Rate for Deposit and Interbank Money Market Under Government Guarantee

Unofficial Translation
No. 6/48/DPM Jakarta, November 29, 2004 CIRCULAR LETTER To ALL COMMERCIAL BANKS IN INDONESIA Concerning : The Fifth Alteration on Bank Indonesia Circular Letter No. 6/20/DPM Dated April 26, 2004 Concerning The Interest Rate for Deposit and Interbank Money Market Under Government Guarantee In reference to Article 3 of Bank Indonesia Regulation Number 6/11/PBI/2004 dated April 12, 2004 concerning the Blanket Guarantee Interest for Deposit and Interbank Money Market (The State Gazette of the Republic of Indonesia of 2004 Number 39, The Supplement to the State Gazette of the Republic of Indonesia Number 4383), it is deemed necessary to alter several points on the provision in Circular Letter Number 6/20/DPM dated April 26, 2004 concerning the Interest Rate for Deposit and Interbank Money Market Under Government Guarantee, to be read as follows:

1. Point I.B.2 is altered to be read as follows:
   ”2. The maximum margin for the Blanket Guarantee for Third Party Deposit in Rupiahs is set at:
   Period of
   Deposit
   Margin
   (basis point)
   1 month Substracted by 5 (five)
   3 months Added by 0 (zero)
   6 months Added by 5 (five)
   12 months Added by 20 (twenty)
   24 months Added by 50 (fifty)

of the 3 (three) - month SBI weighted average discount rate on the last auction.”
2. Point .....…

2
2. Point I.B.4 is altered to be read as follows:
“4. The interest rate margin for Third Party Deposit in US Dollars foreign currency under Government Guarantee for the period of 1, 3, 6, and 12 months shall be added by 4 (four) basis points, and for the period of 24 months shall be added by 2 (two) basis points above the average interest rate for time deposit in US Dollars foreign currency at Jakarta Inter Bank Offered Rates (JIBOR) member banks selected by Bank Indonesia 1 (one) month earlier.”
3. Point II.B is altered to be read as follows:
“B. The Maximum PUAB Interest Rates a. The maximum PUAB interest rates under Government guarantee in Rupiahs is set at 148 (one hundred forty eight) basis points above the weighted average morning overnight PUAB interest rate in Rupiahs at JIBOR member banks selected by Bank Indonesia 1 (one) month earlier. b. The maximum PUAB interest rate in US Dollars foreign currency under Government Guarantee is set at 92 (ninety two) basis points below the weighted average foreign currency morning overninght PUAB interest rates in US Dollars at JIBOR member banks selected by Bank Indonesia 1 (one) month earlier.” The provisions in this Circular Letter shall come into force on November 29, 2004. For the public to be informed, it is ordered that this Circular Letter be promulgated in the State Gazette of the Republic of Indonesia. Kindly be informed.

BANK INDONESIA,
Signed
BUDI MULYA
DIRECTOR OF MONETARY MANAGEMENT