These consolidated financial statements are originally issued in Bahasa.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2015 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated
47
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
e. Foreign Currency Transactions and Balances continued
Transactions and balances in foreign currencies continued The exchange rates used against the Rupiah at the dates of the consolidated statement of
financial position are as follows amounts in full Rupiah:
2015 2014
Great Britain Pound Sterling 1Rp 20,439.02
19,288.40 Euro 1Rp
15,056.67 15,053.35
United Stated Dollar 1Rp 13,785.00
12,385.00 Japanese Yen 100Rp
11,452.00 10,356.00
Other foreign currencies are not disclosed as above since it is considered not material in the translation of transaction in foreign currencies of the Bank and Subsidiaries.
f. Transactions with related parties
The Bank and Subsidiaries enter into transactions with parties which are defined as related parties in accordance with Statement of Financial Accounting Standards SFAS No. 7 regarding “Related
Party Disclosures” and Regulation of OJK formerly Bapepam and LK No. KEP-347BL2012, dated June 25, 2012 regarding “Financial Statements Presentation and Disclosure of Issuers or
Public Companies”, which are defined, among others, as:
I. Entities under the control of the Bank and Subsidiaries;
II. Associated companies;
III. Investors with voting rights which gives them significant influence; IV. Entities controlled by investors under Note III above;
V. Key employees and their family members; and VI. Entity that is controlled, jointly controlled or significantly influenced by Government, which is
defined as the Minister of Finance or Provincial Government who has share ownership in the entity.
All significant transactions with related parties have been disclosed in Note 55.
g. Cash and cash equivalents
Cash and cash equivalents consist of cash, current accounts with Bank Indonesia and current accounts with other banks and other short term highly liquid investments with original maturities of
3 three months or less.
h. Current accounts with Bank Indonesia and other banks
The minimum statutory reserve Current accounts with Bank Indonesia and Other Banks are classified as loans and receivables.
Refer to Note 2c for the accounting policy of loans and receivables.
These consolidated financial statements are originally issued in Bahasa.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2015 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated
48
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
h. Current accounts with Bank Indonesia and other banks continued
The minimum statutory reserve continued Based on Bank Indonesia Regulation No.1019PBI2008 dated October 14, 2008 concerning
Statutory Reserves of Commercial Banks in the Bank Indonesia in Rupiah and Foreign Currency, as amended by Bank Indonesia Regulation No. 1025PBI2008 dated October 23, 2008 as
amended by Bank Indonesia Regulation No. 1219PBI2010 dated October 4, 2010 as amended by Bank Indonesia Regulation No. 1310PBI2011 dated February 9, 2011 which has been
amended with PBI No. 1515PBI2013 dated December 24, 2013 and updated by Bank Indonesia Regulation No.1721PBI2015 dated November 26, 2015, the Bank should comply with a
minimum reserve requirement GWM in Bank Indonesia in Rupiah and foreign currencies. Minimum reserve requirement in Rupiah consists of Primary GWM, Secondary GWM and Loan to
Funding Ratio LFR GWM.
Primary GWM in Rupiah is set at 7.50 2014:8.00 from the Rupiah third party funds, secondary GWM in Rupiah is set at minimum 4.00 from the Rupiah third party funds and GWM
LFR in Rupiah is calculated by the difference between lower disincentive parameter or higher disincentive parameter with the difference between Bank’s LFR and target LFR by taking into
account the difference between Bank’s Capital Adequacy Ratio CAR and incentive CAR. Primary GWM and secondary GWM are applied effectively starting November 1, 2010 and GWM LDR is
applied effectively starting 1 March 2011. GWM LFR applied effectively on August 3, 2015 to replace GWM LDR.
GWM in foreign currency is set at 8.00 of foreign currency third party fund. Subsidiary company that engaged in business operation using Sharia principle, had implemented
the Minimum Statutory Reserve in accordance with Bank Indonesia Regulation No. 621PBI2004 dated August 3, 2004 regarding the Minimum Statutory Reserve in Rupiah and foreign currencies
for Commercial Bank that engaged in business operation based on Sharia principle, which amended by Bank Indonesia Regulation No. 823PBI2006 dated October 5, 2006 and the latest
amendment using Bank Indonesia Regulation No. 1023PBI2008 dated October 16, 2008 and subsequently replace by PBI No.1516PBI2013 dated December 24, 2013, where every bank is
obliged to maintain the Minimum Statutory Reserve in Rupiah by 5.00 from TPF in Rupiah and in foreign currencies by 1.00 from TPF in foreign currencies.
i. Placements with Bank Indonesia and other banks
Placements with Bank Indonesia and other banks represent placements in the form of Bank Indonesia deposit facility FASBI, sharia FASBI FASBIS, call money, “fixed-term” placements,
time deposits and others.
Placements with Bank Indonesia and other banks are stated at amortised cost using effective interest rate less any allowance for impairment losses.
Placement with Bank Indonesia and other banks are classified as loans and receivables. Refer to Note 2c for the accounting policy of loans and receivables.
