Second Alteration on Bank Indonesia Circular Letter No. 6/20/DPM Concerning Interest Rates for Deposits and Inter Bank Money Market Under Government Guarantee

Unofficial Translation
No. 6/36/DPM Jakarta August 30, 2004
CIRCULAR LETTER
To
ALL COMMERCIAL BANKS
IN INDONESIA
Concerning : The Second Alteration on Bank Indonesia Circular Letter No. 6/20/DPM Dated April 26th 2004 Concerning The Interest Rate for Deposit and Inter Bank Money Market Under Government Guarantee In reference to Article 3 Bank Indonesia Regulation Number 6/11/PBI/2004 dated April 12th, 2004 concerning The Blanket Guarantee Interest Rate for Deposit and Inter Bank Money Market (The State Gazette of the Republic of Indonesia of 2004 Number 39, Supplement to the State Gazette of the Republic of Indonesia Number 4383), it is deemed necessary to alter several points of the Circular Letter Number 6/20/DPM dated April 26th, 2004 concerning The Interest Rate for Deposit and Inter Bank Money Market Under Government Guarantee, as follows:

1. Point I.B.2 is altered so that it shall be read as follows:
   ”2. The Interest Rate Margin for Deposit in Rupiahs is set at:
   Saving Time Margin (basis point)
   1 month Subtracted by 6 (six)
   3 months Subtracted by 1(one)
   6 months Added by 4 (four)
   12 months Added by 19 (nineteen)
   24 months Added by 49 (forty nine)

From 3 (three) months SBI weighted average discount rate on the last auction.”
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 with periodical time of 1, 3, 6, 12 and 24 months under the government guarantee each shall be added by 3 (three) basis point above the average interest rate for

2 time deposits in US Dollars foreign exchange at Jakarta Inter Bank Offered Rates (JIBOR) member banks selected by Bank Indonesia within specific time limit, 1 (one) month earlier.”

3. Point II.B is altered to be as follows:
   “B. The Maximum PUAB Interest Rate a. The maximum PUAB interest rate under Government guarantee in rupiahs is set at 60 (sixty) basis point above the weighted average morning overnight PUAB interest rate 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 45 (forty five) basis point below the weighted average foreign currency morning overnight PUAB interest rate 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 since August 30, 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