SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 513 2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued f.
The Minimum Statutory Reserve
On 23 October 2008, Bank Indonesia issued a regulation PBI No. 1025PBI2008 concerning amendment of PBI No. 1019PBI2008 dated 15 October 2008 regarding the Minimum Statutory
Reserves at Bank Indonesia for Commercial Banks in Rupiah and foreign currencies. In accordance with such regulation, the minimum ratio of Statutory Reserves which Bank shall
maintain is 7.50 from Third Party Funds TPF in Rupiah which consist of Primary Minimum Statutory Reserves and Secondary Minimum Statutory Reserves. The Minimum Statutory Reserves
in foreign currencies is 1.00 from TPF in foreign currencies. Primary Minimum Statutory Reserves is 5.00 of TPF in Rupiah which was effective on 24 October 2008 and Secondary Minimum
Statutory Reserves is 2.50 of TPF in Rupiah, effective 24 October 2009.
On 6 September 2005, Bank Indonesia issued a regulation No. 729PBI2005 concerning changes of Bank Indonesia Regulation No. 615PBI2004 on Statutory Reserves of Commercial Banks with
Bank Indonesia in Rupiah and foreign currency. This regulation was effective on 8 September 2005. In accordance with the regulation, regulated additional Statutory Reserves of Commercial Banks in
Rupiah for Banks with Loan to Deposits Ratio 50.00 to 60.00 were previously required to maintain an additional Rupiah statutory reserves of 3.00 of the third party funds in Rupiah and
commercial banks with third party funds more than Rp50,000,000 shall maintain additional Statutory Reserves of 3.00 of third party funds in Rupiah, therefore the minimum ratio of Statutory Reserves
which the Bank shall maintain is 11.00 for Rupiah and 3.00 for foreign currency
.