BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
32
b. Other Assets in Indo Plus BV IPBV
Other Assets in IPBV consists of the non-performing loans NPL of ex-Indover Bank that has been transferred to IPBV. The balance of the NPL is stated in a Floating
Principal Note FPN. IPBV issues FPN quarterly to reflect the selling value of the NPL at a certain position. The First FPN was issued on January 26, 2004 and amounted to
USD294,232,949.00.
The latest FPN based on IPBV Report was dated September 30, 2008 and amounted to USD38,598,104.78 or equivalent to IDR422,649 million. Other than the FPN value,
there were also other claims to IPBV amounting USD1,398,024.92 or equivalent to IDR15,308 million that was being used as allowance for IPBV’s operational expenses
and amounting to EUR4,751.16 or equivalent to IDR73 million which are Bank Indonesia’s receivables from recovery that has not been received by Bank Indonesia,
maintained by IPBV in Indover Bank.
c. Others
Included in Others is the placement of funds in Indover Bank Amsterdam and Indover Bank Hongkong amounted to USD128,797,259.98 or equivalent to IDR1,410,330
million and EUR4,983,376.69 or equivalent to IDR76,905 million at December 31, 2008, and Other Assets amounted to IDR263,531 million. Indover Bank has been
declared bankrupt Note C.12 – Equity Participation.
14. Allowance for Bad Debts
Total allowance for bad debts as at December 31, 2008 and December 31, 2007 were IDR16,474,382 million and IDR17,710,243 million respectively, with details as follows:
December 31, 2008 December 31, 2007
IDR million IDR million
- Beginning Balance 17,710,243
31,214,833 - Assets recovery
48 56
- Assets write-off 2,003,061
13,451,262 - Additiondecrease of allowance for
bad debt 767,152
53,384 - Ending Balance
16,474,382 17,710,243
Use of Allowance for Bad Debts was among others for write-off of claims on banks ex- BBO-BBKU as explained in Note. C.11 – Claims on Others.
BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
33
15. Currency in Circulation
Currency in Circulation is valid payment instrument not under possession of Bank Indonesia with a position as at December 31, 2008 and December 31, 2007 amounted
to IDR264,399,922 million and IDR220,794,779 million respectively with details as follows:
December 31, 2008 December 31, 2007
IDR million IDR million
Printed Money: 319,010,796
279,158,691
- Bank Notes - Coins
316,004,689 2,995,614
276,312,782 2,835,416
- Special edition 10,493
10,493 Currency withdrawn from circulation
920,998 1,834
Currency inventory 53,673,281
58,361,352
Others
16,595 726
Currency in circulation 264,399,922 220,794,779
16. Government Demand Deposits
In performing its function as the account holder of the Government, Bank Indonesia manages Government demand deposits, with details as follows:
December 31, 2008 December 31, 2007
IDR million IDR million
In Rupiah 32,053,286 11,012,224
In Foreign Currency 65,175,264 10,906,136
97,228,550 21,918,360
a. Government demand deposits in Rupiah as at December 31, 2008 included as follows:
1 General State Treasury Bendaharawan Umum Negara - BUN account amounted to IDR26,714,560 million, including sub BUN account for the purpose of
guarantee program amounted to IDR83,443 million raised from the issuance of SUP Number SU-004MK1999.
2 Government account for accrued interest on subsidy of credit program amounted to IDR1,203,327 million.
b. Government demand deposits in foreign currency as at December 31, 2008 included State Cash Account amounted to USD3,822,775,722.45 or equivalent to
IDR41,859,394 million and IMF account for SDR allocation amounted to SDR238,956,000.00 or equivalent to IDR4,049,951 million.