Surat-surat SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued

Annual Report 2008 BNI 219 The original consolidated financial statements included herein are in Indonesian language. PT BANK NEGARA INDONESIA PERSERO Tbk DAN ANAK PERUSAHAAN CATATAN ATAS LAPORAN KEUANGAN KONSOLIDASIAN Tahun yang Berakhir pada Tanggal-tanggal 31 Desember 2008 dan 2007 Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain PT BANK NEGARA INDONESIA PERSERO Tbk AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated 2. IKHTISAR KEBIJAKAN AKUNTANSI lanjutan

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued

g. Surat-surat berharga yang dibelidijual dengan janji dijualdibeli kembali lanjutan

g. Securities purchasedsold

under agreement to resellrepurchase continued Surat-surat berharga yang dijual dengan janji untuk dibeli kembali disajikan sebagai kewajiban dalam neraca konsolidasian sebesar jumlah pembelian kembali, dikurangi dengan bunga dibayar dimuka yang belum diamortisasi. Selisih antara harga jual dan harga beli kembali diperlakukan sebagai biaya dibayar dimuka dan diakui sebagai beban selama jangka waktu sejak surat-surat berharga tersebut dijual hingga dibeli kembali. Securities sold under agreement to repurchase are presented as liabilities in the consolidated balance sheet, at the repurchase price, net of unamortized prepaid interest. The difference between the selling price and the repurchase price is treated as prepaid expenses and recognized as expense over the period when those securities are sold until they are repurchased. h. Wesel ekspor dan tagihan lainnya h. Bills and other receivables Wesel ekspor dan tagihan lainnya terdiri atas tagihan dari letters of credit dan dokumen- dokumen kepada importir dan eksportir. Bills and other receivables consist of receivables from importers and exporters in relation to letters of credit and documents. Wesel ekspor dan tagihan lainnya dinyatakan sebesar saldonya dikurangi penyisihan kerugian. Bills and other receivables are stated at their outstanding balance less allowance for losses.

i. Instrumen keuangan derivatif

i. Derivative financial instruments

Dalam melakukan usaha bisnisnya, BNI melakukan transaksi instrumen keuangan derivatif seperti kontrak berjangka mata uang asing, foreign currency swaps dan interest rate swaps. In the normal course of business, BNI enters into transactions involving derivative financial instruments such as foreign currency forward contracts, foreign currency swaps and interest rate swaps. Instrumen keuangan derivatif dinilai dan diakui di neraca pada nilai wajar dikurangi penyisihan kerugian. Setiap kontrak derivatif dicatat sebagai aktiva apabila memiliki nilai wajar positif dan sebagai kewajiban apabila memiliki nilai wajar negatif. Derivative financial instruments are valued and recognized in the balance sheet at fair value less allowances for losses. Each derivative contract is carried as asset when the fair value is positive and as liability when the fair value is negative. Nilai wajar ditentukan berdasarkan harga pasar, harga pasar instrumen lain yang memiliki karakteristik serupa atau model penentuan harga. Fair value is determined based on market prices, quoted prices of other instruments with similar characteristics or pricing models. Keuntungan atau kerugian yang terjadi dari perubahan nilai wajar diakui dalam laporan laba rugi konsolidasian. Gains or losses as a result of fair value changes are recognized in the consolidated statement of income. BNI menggunakan instrumen interest rate swap untuk keperluan lindung nilai kewajiban tertentu dengan tingkat bunga tetap, dimana BNI menerapkan akuntansi lindung nilai atas nilai wajar pada saat swap memenuhi kriteria akuntansi lindung nilai. BNI utilizes interest rate swaps to hedge certain fixed rate liabilities, for which BNI applies fair value hedge accounting when the swaps meet the criteria for hedge accounting.