The Sixth Alteration on Bank Indonesia Circular Letter No. 6/20/DPM Concerning Blanket Guarantee Interest Rate for Deposit and Interbank Money Market

Unofficial Translation
No. 6/50/DPM Jakarta December 30, 2004
CIRCULAR LETTER
To
ALL COMMERCIAL BANKS
IN INDONESIA
Concerning : The Sixth Alteration on Bank Indonesia Circular Letter No. 6/20/DPM Dated April 26, 2004 Concerning Blanket Guarantee Interest Rate for Deposit and Interbank Money Market In reference to Article 3 of Bank Indonesia Regulation Number 6/11/PBI/2004 dated April 12, 2004 concerning Blanket Guarantee Interest Rate for Deposit and Interbank Money Market, it is deemed necessary to alter several points in Circular Letter Number 6/20/DPM dated April 26, 2004 concerning Blanket Guarantee Interest Rate for Deposit and Interbank Money Market, as follows:

1. Point I.B.2. is altered so that it shall be read as follows:
   ”2. The Maximum Margin for Deposit Interest Rate is set at:
   Period of
   Deposit
   Margin
   (basis point)
   1 month Substracted by 4 (four)
   3 months Substracted by 1 (one)
   6 months Added by 6 (six)
   12 month Added by 21 (twenty one
   24 month Added by 51 (fifty one)

from the weighted average SBI discount rate in 3 (three) month period on the last auction.”
2. Point I.B.4 is altered to be read as follows:
“4. The Maximum …

Unofficial Translation
2
“4. The maximum margin for Deposit interest rate in US Dollars foreign currency under Government Guarantee for the period of 1, 3, 6, and 12 months is each added by 3 (three) basis points, while the margin for the period of 24 months is added by 2 (two) basis points above the average deposited interest rate 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 folows:
“B. Maximum PUAB Interest Rate a. The maximum PUAB interest rate under Government Guarantee in Rupiahs is set at 173 (one hundres seventy three) basis points above the weighted average PUAB interest rate morning overnight 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 125 (one hundred twenty five) basis points under the weighted average PUAB interest rate morning overnight in US Dollars foreign currency at JIBOR bank members selected by Bank Indonesia 1 (one) month earlier.” The provisions in this Circular Letter shall come into force on December 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, BUDI MULYA DIRECTOR OF MONETARY MANAGEMENT