BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
35
18. Other Demand Deposits
December 31, 2008 December 31, 2007
IDR million IDR million
IMF 1,230,493
1,149,437 IBRD
1,119,637 19,156
ADB 18,987
18,104 Others
652,491 348,649
3,021,608 1,535,346
The IMF Demand Deposit account is used to record quota payment in Rupiah, loan withdrawal in Stand By Arrangement SBA, Extended Fund Facility EFF and New EFF
IMF Account Number 1, as well as administrative transaction account between the Indonesian Government and IMF IMF Account Number 2.
As a member of IMF, Indonesia is obliged to contribute to reserves set by the IMF in the form of a quota. The amount of the quota is determined by IMF Board of Governors
Meeting. The reserves are utilized as fund sources for IMF activities. Indonesia’s total quota as at December 31, 2008 was SDR2,079 million. The accumulated total of the
member’s of IMF’s quotas is a source of fund for IMF loan facilities such as SBA, EFF, and Supplemental Reserve Facility SRF.
The balance of IMF Demand Deposits Account is revalued every April 30 based on the exchange rate at the closing date of IMF. This exchange rate adjustment is allocated to
Bank Indonesia and the Government. Bank Indonesia is liable for the exchange rate adjustment for loan withdrawal IMF Account No. 1, while as the Government is liable
for the exchange rate adjustment in relation to the quota payment in Rupiah IMF Account No. 1 and administrative transaction account between the Indonesian
Government and IMF in local currency IMF Account No. 2. The revaluation that the Government is liable for, if settled by Promissory Note, will add or subtract the balance
of the Government’s promissory note administered and kept by Bank Indonesia. The promissory note as at December 31, 2008 amounted to IDR25,766,791 million. In this
amount are included quota payments in rupiah and revaluation of Fund’s Securities Account.
19. Bank Indonesia Certificates
Bank Indonesia Certificates as at December 31, 2008 and December 31, 2007 amounted to IDR175,342,804 million and IDR244,570,156 million respectively, with details as
follows:
BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
36
December 31, 2008 December 31, 2007
IDR million IDR million
Nominal value by period - 1 month
122,024,993 245,328,400
- 3 months 18,066,000
- 6 months 37,212,599
Less: Un-amortized discount interest paid in advance
1,960,788 758,244
175,342,804 244,570,156
SBI discount rate range: - 1 month
7.93 -11.24 8.00 -9.75
- 3 months 7.83 - 11.50
7.83 - 8.10 - 6 months
9.63 - 12.25
20. Bank Indonesia Sharia Certificates
Bank Indonesia Sharia Certificates as at December 31, 2008 and December 31, 2007 amounted to IDR2,824,300 million and IDR2,598,500 million respectively, with details as
follows:
December 31, 2008 December 31, 2007
IDR million IDR million
Nominal Value by period: - 7 days
1,663,000 - 14 days
636,000 - 28 days
2,824,300 299,500
2,824,300 2,598,500
SWBI Bonus rates range based on: - Sharia Inter-bank Money Market
3.70686 - 11.55717 - Investasi Mudharabah Antar IMA Deposit
6.78073 - 8.06887 1 month BI Sharia Certificate bonus rate range
7.97451 - 11.24053
21. Bank Indonesia Deposit Facilities
Bank Indonesia Deposit Facilities as at December 31, 2008 and December 31, 2007 amounted to IDR75,673,367 million including Fine Tune ContractionFine Tune Kontraksi
– FTK amounted to IDR71,547,400 million and IDR48,925,248 million respectively. Details of FASBI and FTK are as follows: