SKB BI LPS 221009translated Attachment
JOINT DECREE
GOVERNOR OF BANK INDONESIA AND
CHAIRMAN OF THE BOARD OF COMMISSIONERS,
DEPOSIT INSURANCE CORPORATION
No: 11/55/KEP.GBI/2009
No: KEP.026/DK/X/2009
COORDINATED DATA AND INFORMATION EXCHANGE TO SUPPORT THE
EFFECTIVENESS OF BANK INDONESIA AND THE DEPOSIT INSURANCE
CORPORATION
Considering:
a. Establishing and maintaining financial system stability requires support
from an effective financial system safety net;
b. Bank Indonesia and the Deposit Insurance Corporation play a significant
role in the financial system safety net, therefore, comprehensive joint
collaboration is required, with synergy, in order to enable each respective
institution to effectively implement its core purposes;
c. In order to optimize collaboration between Bank Indonesia and the
Deposit Insurance Corporation, existing collaboration requires additional
refinement;
d. The coordination and cooperation prioritized for improvement include
deposit insurance, resolution of problem banks, settlement of bank
defaults, follow-up actions for banks that have had their business license
revoked, as well as setting standard interest rates and coordination in
other tasks;
e. Based on the above considerations, a Joint Decree between the
Governor of Bank Indonesia and the Chairman of the Board of
Commissioners of the Deposit Insurance Corporation is required;
In view of:
1. Act No 7 1992 regarding Banks (State Gazette of the Republic of
Indonesia 1992 No 31, Amendment to the State Gazette of the Republic
of Indonesia No 3472), as amended by Act No 10 1998 (State Gazette of
the Republic of Indonesia 1998 No 182, amendment to State Gazette of
the Republic of Indonesia No 3790);
2. Act No 23 1999 concerning Bank Indonesia (State Gazette of the
Republic of Indonesia 1999 No 66, amendment to the State Gazette of
the Republic of Indonesia No 3843), as amended by Act No 6 2009 on
Government Regulation In Lieu of a Law No 2, 2008 regarding the
enactment of the second amendment to Act No 23 1999 about Bank
Indonesia (State Gazette of the Republic of Indonesia 2009 No 7,
amendment to the State Gazette of the Republic of Indonesia No 4962);
3. Act No 24 2004 regarding the Deposit Insurance Corporation (State
Gazette of the Republic of Indonesia 2004 No 96, amendment to the
State Gazette of the Republic of Indonesia No 4420) as amended by Act
No 7 2009 on Government Regulation In Lieu of Law No 3 2008; the
enactment of Act No 24 2004 on Deposit Insurance Corporation (State
Gazette of the Republic of Indonesia 2009 No 8; amendment to the State
Gazette of the Republic of Indonesia No 4963);
4. Act No 21 2008 on Sharia Banks (State Gazette of the Republic of
Indonesia 2008 No 94, amendment to the State Gazette of the Republic
of Indonesia No 4867);
HAS DECREED:
To enact: JOINT DECREE BETWEEN THE GOVERNOR OF BANK
INDONESIA AND THE CHAIRMAN OF THE BOARD OF
COMMISSIONERS
CORPORATION
INFORMATION
OF
THE
REGARDING
DEPOSIT
COORDINATED
EXCHANGE
TO
INSURANCE
DATA
SUPPORT
AND
THE
EFFECTIVENESS OF BANK INDONESIA AND THE DEPOSIT
INSURANCE CORPORATION
CHAPTER I
DEFINITION AND OBJECTIVES
Article 1
The terminology used in this Joint Decree is defined as follows:
1. Bank is a Commercial Bank and Rural Bank as defined in Act No 7 1992
on Banking as amended by Act No 10 1998; and Sharia Bank and Sharia
Business Unit are defined in Act No 21 2008 on Sharia Banking
2. Problem Bank is a Bank suffering from financial difficulties that endanger
its business sustainability and is therefore placed under special
surveillance by Bank Indonesia in accordance with the prevailing Bank
Indonesia Regulation.
3. Bank Default is a Bank suffering from financial difficulties that endanger
its business sustainability and the bank cannot be rescued by Bank
Indonesia in accordance with its authority.
4. Coordination Committee is a committee comprising of the Minister of
Finance, Financial Supervisory Authority (LPP), Bank Indonesia (BI) and
Deposit Insurance Corporation (DIC) that decides appropriate policy to
address and resolve Bank Default with systemic impact pursuant to the
Deposit Insurance Corporation Act.
5. Systemic impact is a difficulty scale and dimension attributable to a
Problem Bank that could trigger the subsequent failure of a number of
other Banks.
This could spur a crisis of confidence in the banking
system and has the potential to threaten the financial system as a whole.
Article 2
Coordination and the exchange of information between BI and DIC is designed
to support effective:
a. Deposit insurance;
b. Resolution of Problem Banks;
c. Settlement and/or handling of Bank Default;
d. Follow-up actions for Banks that have had their business license
revoked;
e. Setting standard interest rates for the payment of insurance claims; and
f. Handling other tasks, including data and information confidentiality
issues.
CHAPTER II
DEPOSIT INSURANCE
Article 3
(1) BI submits information to DIC regarding Banks that have recently
obtained a business license, Bank mergers and Bank that change from
conventional to sharia banks.
(2) BI must submit the information referred to in Paragraph (1) to DIC no
later than 10 (ten) business days after BI has received a Bank
operational activity report, merger report or report of business activity
change from conventional to sharia.
Article 4
DIC coordinates with BI in socialization activities to inform Banks on new
regulations appertaining to deposit insurance.
Article 5
(1) DIC must present information to BI regarding any Bank that does not
meet its obligations as a participant of deposit insurance.
(2) The information submitted by DIC as referred to in paragraph (1) is
subsequently available to BI in the supervision of the respective Bank.
Article 6
(1) DIC is permitted to request the primary financial ratios of any Bank as
well as the respective stress test results as part of the Bank’s obligations
as a participant of deposit insurance and regarding information to
complement the early detection system for the banking industry.
(2) In addition to the financial ratios mentioned in Paragraph (1), DIC can
also request data concerning total assets, credit, deposits, equity and
profit of Rural Banks.
(3) BI is obliged to submit appropriate data and information to DIC as
referred to in Paragraphs (1) and (2)
(4) Primary financial ratios mentioned in Paragraph (1) include capital, asset
quality, profitability and liquidity.
(5) The information referred to in Paragraphs (1) and (2) is the final monthly
position for March, June, September and December, submitted after the
Financial Report from all Bank is received in full and processed by BI in
accordance to prevailing procedures and regulations.
Article 7
Based on a request by DIC, BI must submit a list of majority shareholders as
recorded at BI.
Article 8
(1) In order to calculate the insurance premium, DIC can request customer
deposit data from BI.
(2) BI provides customer deposit data, as mentioned in Paragraph (1), to
DIC based on the Bank report submitted to BI.
(3) In order to verify the premium calculation, DIC can request assistance
from BI to audit customer deposit data at a Bank.
(4) Prior to the application for a direct audit, as referred to in Paragraph (3),
DIC must coordinate with BI.
(5) A direct audit, as referred to in Paragraph (3), is performed based on BI’s
audit procedure.
(6) BI can involve DIC in the direct audit mentioned in Paragraph (5).
CHAPTER III
INFORMATION REGARDING PROBLEM BANKS
Article 9
(1) BI will provide information regarding a Bank placed under special
surveillance to DIC supplemented with:
a. A financial report in the form of a profit and loss statement and the
balance of the administrative account;
b. Primary financial ratios including capital, asset quality, profitability
and liquidity;
c. The amount of capital required for the respective Bank to meet the
Capital Adequacy Ratio and Liquidity Ratio;
d. Details of the respective Bank’s earning assets, grouped based on
quality;
e. List of Directors, Commissioners and shareholders;
f. Details of the problems faced by a Bank and the resolution
measures requested by BI, including any regulatory violations
and/or suspicion of banking crime;
g. Soundness level or composite rank;
h. Other information required by DIC including:
i. Aggregate customer deposit data grouped by nominal
value;
ii. The number of staff;
iii. Salary cost; and
iv. Total outstanding salary payments, if applicable.
(2) BI will submit the information referred to in Paragraph (1) no later than 5
(five) business days after the respective Bank is placed under special
surveillance.
(3) BI will submit subsequent information regarding a bank placed under
special surveillance as referred to in Paragraph (1) to DIC on a monthly
basis for the entire period the bank is under special surveillance.
(4) The information referred to in Paragraph (1) will be submitted in writing
or at a coordination meeting attended by BI and DIC.
Article 10
BI may include DIC with the direct audit of a Bank placed under special
surveillance based on a request by DIC or BI in order to obtain the latest data
and conditions of the Bank. The information will be used by DIC to determine
how to address/resolve the problem Bank.
CHAPTER IV
COORDINATION TO RESOLVE BANK DEFAULT
Article 11
(1) BI will inform DIC of a Bank Default with no systemic impact and
subsequently hand over its resolution to DIC no later than 1 (one)
business day after the announcement of the Bank Default by Bank
Indonesia.
(2) The information referred to in Paragraph (1) is supplemented with the
following data:
a. A financial report in the form of a profit and loss statement and the
balance of the administrative account;
b. Primary financial ratio including capital, asset quality, profitability
and liquidity;
c. The amount of capital required for the respective Bank to meet the
Capital Adequacy Ratio and Liquidity Ratio;
d. Details of the respective Bank’s earning assets, grouped based on
quality;
e. List of Directors, Commissioners and shareholders;
f. Details of the problems faced by a Bank and the resolution
measures requested by BI, including any regulatory violations
and/or suspicion of banking crime;
g. Soundness level or composite rank;
h. Aggregate customer deposit data grouped by nominal value;
i.
The total number of staff;
j.
Salary cost;
k. Total outstanding salary payments, if applicable; and
l.
Other information obtained by BI Supervisors and/or through a
joint audit by BI and DIC.
Article 12
(1) DIC will inform BI of their decision to resolve or not to resolve a Bank
Default with no systemic impact no later than 1 (one) business day after
DIC receive notification of Bank Default from BI.
(2) BI will revoke the business license of Bank if DIC decide not to resolve
the Bank Default as mentioned in Paragraph (1).
(3) BI will notify DIC of any Bank whose license has been revoked enabling
DIC to take follow-up actions pursuant to prevailing regulations.
Article 13
(1) For a Bank Default with systemic impact whose resolution is passed on
to DIC, BI will submit the information referred to in Article 11, Paragraph
(2) no later than 1 (one) business day following the handover from the
Coordination Committee.
(2) After receiving information regarding a Bank Default with systemic
impact, DIC will immediately take resolution measures in accordance to
the Deposit Insurance Corporation Act.
(3) DIC will coordinate with BI in the event of staff restructuring at the failed
bank.
CHAPTER V
FOLLOW-UP COORDINATION FOR BANK LICENSE REVOCATION
Article 14
DIC will coordinate with BI to secure a Bank’s assets as well as the closure of
Bank offices whose license has been revoked in accordance with the respective
authority and responsibility.
Article 15
At the behest of BI, DIC will submit information on the performance of a Bank
whose license has been revoked.
Article 16
(1) DIC can request assistance from BI to clarify banking regulations in order
to reconcile and verify customer deposits at a Bank whose license has
been revoked.
(2) BI and DIC will coordinate to resolve any issues regarding the rights and
responsibilities of any participating Bank, whose license has been
revoked, of BI-Real Time Gross Settlement (BI-RTGS) and clearing.
(3) Based on a request by DIC, BI will provide a list of debtors with nonperforming loans in accordance with prevailing Bank Indonesia
Regulations in the implementation of the reconciliation and verification
process of customer deposits at a Bank whose license has been
revoked.
Article 17
(1) BI and DIC will coordinate to compile the closing balance of the Bank.
(2) BI and DIC will receive the closing balance from a Bank official.
Article 18
BI and DIC will coordinate follow-up actions for any suspicion of banking crime;
discovered by BI before the business license was revoked or by DIC thereafter.
Article 19
BI and DIC will coordinate in the request and extension of overseas travel bans
for directors, commissioners, shareholders, including majority shareholders,
staff, and/or other parties related to a bank whose license has been revoked.
CHAPTER VI
SETTING THE INTEREST RATE FOR DEPOSIT CLAIMS
Article 20
(1) In insuring a conventional bank, DIC will determine the standard interest
rate pursuant to the Deposit Insurance Corporation Act.
(2) The standard interest rate as referred to in Paragraph (1) is determined
considering the BI-rate.
(3) The standard interest rate as referred to by Paragraph (1) is set by DIC 3
(three) times per 1 (one) year, except under special circumstances.
CHAPTER VII
MISCELLANEOUS
Article 21
When paying out deposit claims to a sharia bank, DIC will consider prevailing
sharia banking regulations.
Article 22
(1) Bank Indonesia and DIC can utilize information technology to exchange
data and information.
(2) Data and information exchange as referred to by Paragraph (1) includes
the data and information legislated by this Joint Decree, including Bank
financial reports, deposit data and financial ratios.
Article 23
All data and information submitted by BI to DIC or by DIC to BI is confidential.
Article 24
The implementation of this Joint Decree is further regulated in the BI and DIC
Joint Implementation Guide.
CHAPTER VII
CONCLUSION
Article 25
The introduction of this Joint Decree supersedes the previous Memorandum of
Understanding
between
Bank
Indonesia
and
the
Deposit
Insurance
Corporation, dated 29th June 2007.
Article 26
This Joint Decree shall become effective as per the date of signature.
Promulgated in Jakarta
22nd October 2009
PRESIDENT OF THE BOARD OF COMMISSIONERS, DEPOSIT INSURANCE
CORPORATION, RUDJITO
ACTING GOVERNOR OF BANK INDONESIA
DARMIN NASUTION
GOVERNOR OF BANK INDONESIA AND
CHAIRMAN OF THE BOARD OF COMMISSIONERS,
DEPOSIT INSURANCE CORPORATION
No: 11/55/KEP.GBI/2009
No: KEP.026/DK/X/2009
COORDINATED DATA AND INFORMATION EXCHANGE TO SUPPORT THE
EFFECTIVENESS OF BANK INDONESIA AND THE DEPOSIT INSURANCE
CORPORATION
Considering:
a. Establishing and maintaining financial system stability requires support
from an effective financial system safety net;
b. Bank Indonesia and the Deposit Insurance Corporation play a significant
role in the financial system safety net, therefore, comprehensive joint
collaboration is required, with synergy, in order to enable each respective
institution to effectively implement its core purposes;
c. In order to optimize collaboration between Bank Indonesia and the
Deposit Insurance Corporation, existing collaboration requires additional
refinement;
d. The coordination and cooperation prioritized for improvement include
deposit insurance, resolution of problem banks, settlement of bank
defaults, follow-up actions for banks that have had their business license
revoked, as well as setting standard interest rates and coordination in
other tasks;
e. Based on the above considerations, a Joint Decree between the
Governor of Bank Indonesia and the Chairman of the Board of
Commissioners of the Deposit Insurance Corporation is required;
In view of:
1. Act No 7 1992 regarding Banks (State Gazette of the Republic of
Indonesia 1992 No 31, Amendment to the State Gazette of the Republic
of Indonesia No 3472), as amended by Act No 10 1998 (State Gazette of
the Republic of Indonesia 1998 No 182, amendment to State Gazette of
the Republic of Indonesia No 3790);
2. Act No 23 1999 concerning Bank Indonesia (State Gazette of the
Republic of Indonesia 1999 No 66, amendment to the State Gazette of
the Republic of Indonesia No 3843), as amended by Act No 6 2009 on
Government Regulation In Lieu of a Law No 2, 2008 regarding the
enactment of the second amendment to Act No 23 1999 about Bank
Indonesia (State Gazette of the Republic of Indonesia 2009 No 7,
amendment to the State Gazette of the Republic of Indonesia No 4962);
3. Act No 24 2004 regarding the Deposit Insurance Corporation (State
Gazette of the Republic of Indonesia 2004 No 96, amendment to the
State Gazette of the Republic of Indonesia No 4420) as amended by Act
No 7 2009 on Government Regulation In Lieu of Law No 3 2008; the
enactment of Act No 24 2004 on Deposit Insurance Corporation (State
Gazette of the Republic of Indonesia 2009 No 8; amendment to the State
Gazette of the Republic of Indonesia No 4963);
4. Act No 21 2008 on Sharia Banks (State Gazette of the Republic of
Indonesia 2008 No 94, amendment to the State Gazette of the Republic
of Indonesia No 4867);
HAS DECREED:
To enact: JOINT DECREE BETWEEN THE GOVERNOR OF BANK
INDONESIA AND THE CHAIRMAN OF THE BOARD OF
COMMISSIONERS
CORPORATION
INFORMATION
OF
THE
REGARDING
DEPOSIT
COORDINATED
EXCHANGE
TO
INSURANCE
DATA
SUPPORT
AND
THE
EFFECTIVENESS OF BANK INDONESIA AND THE DEPOSIT
INSURANCE CORPORATION
CHAPTER I
DEFINITION AND OBJECTIVES
Article 1
The terminology used in this Joint Decree is defined as follows:
1. Bank is a Commercial Bank and Rural Bank as defined in Act No 7 1992
on Banking as amended by Act No 10 1998; and Sharia Bank and Sharia
Business Unit are defined in Act No 21 2008 on Sharia Banking
2. Problem Bank is a Bank suffering from financial difficulties that endanger
its business sustainability and is therefore placed under special
surveillance by Bank Indonesia in accordance with the prevailing Bank
Indonesia Regulation.
3. Bank Default is a Bank suffering from financial difficulties that endanger
its business sustainability and the bank cannot be rescued by Bank
Indonesia in accordance with its authority.
4. Coordination Committee is a committee comprising of the Minister of
Finance, Financial Supervisory Authority (LPP), Bank Indonesia (BI) and
Deposit Insurance Corporation (DIC) that decides appropriate policy to
address and resolve Bank Default with systemic impact pursuant to the
Deposit Insurance Corporation Act.
5. Systemic impact is a difficulty scale and dimension attributable to a
Problem Bank that could trigger the subsequent failure of a number of
other Banks.
This could spur a crisis of confidence in the banking
system and has the potential to threaten the financial system as a whole.
Article 2
Coordination and the exchange of information between BI and DIC is designed
to support effective:
a. Deposit insurance;
b. Resolution of Problem Banks;
c. Settlement and/or handling of Bank Default;
d. Follow-up actions for Banks that have had their business license
revoked;
e. Setting standard interest rates for the payment of insurance claims; and
f. Handling other tasks, including data and information confidentiality
issues.
CHAPTER II
DEPOSIT INSURANCE
Article 3
(1) BI submits information to DIC regarding Banks that have recently
obtained a business license, Bank mergers and Bank that change from
conventional to sharia banks.
(2) BI must submit the information referred to in Paragraph (1) to DIC no
later than 10 (ten) business days after BI has received a Bank
operational activity report, merger report or report of business activity
change from conventional to sharia.
Article 4
DIC coordinates with BI in socialization activities to inform Banks on new
regulations appertaining to deposit insurance.
Article 5
(1) DIC must present information to BI regarding any Bank that does not
meet its obligations as a participant of deposit insurance.
(2) The information submitted by DIC as referred to in paragraph (1) is
subsequently available to BI in the supervision of the respective Bank.
Article 6
(1) DIC is permitted to request the primary financial ratios of any Bank as
well as the respective stress test results as part of the Bank’s obligations
as a participant of deposit insurance and regarding information to
complement the early detection system for the banking industry.
(2) In addition to the financial ratios mentioned in Paragraph (1), DIC can
also request data concerning total assets, credit, deposits, equity and
profit of Rural Banks.
(3) BI is obliged to submit appropriate data and information to DIC as
referred to in Paragraphs (1) and (2)
(4) Primary financial ratios mentioned in Paragraph (1) include capital, asset
quality, profitability and liquidity.
(5) The information referred to in Paragraphs (1) and (2) is the final monthly
position for March, June, September and December, submitted after the
Financial Report from all Bank is received in full and processed by BI in
accordance to prevailing procedures and regulations.
Article 7
Based on a request by DIC, BI must submit a list of majority shareholders as
recorded at BI.
Article 8
(1) In order to calculate the insurance premium, DIC can request customer
deposit data from BI.
(2) BI provides customer deposit data, as mentioned in Paragraph (1), to
DIC based on the Bank report submitted to BI.
(3) In order to verify the premium calculation, DIC can request assistance
from BI to audit customer deposit data at a Bank.
(4) Prior to the application for a direct audit, as referred to in Paragraph (3),
DIC must coordinate with BI.
(5) A direct audit, as referred to in Paragraph (3), is performed based on BI’s
audit procedure.
(6) BI can involve DIC in the direct audit mentioned in Paragraph (5).
CHAPTER III
INFORMATION REGARDING PROBLEM BANKS
Article 9
(1) BI will provide information regarding a Bank placed under special
surveillance to DIC supplemented with:
a. A financial report in the form of a profit and loss statement and the
balance of the administrative account;
b. Primary financial ratios including capital, asset quality, profitability
and liquidity;
c. The amount of capital required for the respective Bank to meet the
Capital Adequacy Ratio and Liquidity Ratio;
d. Details of the respective Bank’s earning assets, grouped based on
quality;
e. List of Directors, Commissioners and shareholders;
f. Details of the problems faced by a Bank and the resolution
measures requested by BI, including any regulatory violations
and/or suspicion of banking crime;
g. Soundness level or composite rank;
h. Other information required by DIC including:
i. Aggregate customer deposit data grouped by nominal
value;
ii. The number of staff;
iii. Salary cost; and
iv. Total outstanding salary payments, if applicable.
(2) BI will submit the information referred to in Paragraph (1) no later than 5
(five) business days after the respective Bank is placed under special
surveillance.
(3) BI will submit subsequent information regarding a bank placed under
special surveillance as referred to in Paragraph (1) to DIC on a monthly
basis for the entire period the bank is under special surveillance.
(4) The information referred to in Paragraph (1) will be submitted in writing
or at a coordination meeting attended by BI and DIC.
Article 10
BI may include DIC with the direct audit of a Bank placed under special
surveillance based on a request by DIC or BI in order to obtain the latest data
and conditions of the Bank. The information will be used by DIC to determine
how to address/resolve the problem Bank.
CHAPTER IV
COORDINATION TO RESOLVE BANK DEFAULT
Article 11
(1) BI will inform DIC of a Bank Default with no systemic impact and
subsequently hand over its resolution to DIC no later than 1 (one)
business day after the announcement of the Bank Default by Bank
Indonesia.
(2) The information referred to in Paragraph (1) is supplemented with the
following data:
a. A financial report in the form of a profit and loss statement and the
balance of the administrative account;
b. Primary financial ratio including capital, asset quality, profitability
and liquidity;
c. The amount of capital required for the respective Bank to meet the
Capital Adequacy Ratio and Liquidity Ratio;
d. Details of the respective Bank’s earning assets, grouped based on
quality;
e. List of Directors, Commissioners and shareholders;
f. Details of the problems faced by a Bank and the resolution
measures requested by BI, including any regulatory violations
and/or suspicion of banking crime;
g. Soundness level or composite rank;
h. Aggregate customer deposit data grouped by nominal value;
i.
The total number of staff;
j.
Salary cost;
k. Total outstanding salary payments, if applicable; and
l.
Other information obtained by BI Supervisors and/or through a
joint audit by BI and DIC.
Article 12
(1) DIC will inform BI of their decision to resolve or not to resolve a Bank
Default with no systemic impact no later than 1 (one) business day after
DIC receive notification of Bank Default from BI.
(2) BI will revoke the business license of Bank if DIC decide not to resolve
the Bank Default as mentioned in Paragraph (1).
(3) BI will notify DIC of any Bank whose license has been revoked enabling
DIC to take follow-up actions pursuant to prevailing regulations.
Article 13
(1) For a Bank Default with systemic impact whose resolution is passed on
to DIC, BI will submit the information referred to in Article 11, Paragraph
(2) no later than 1 (one) business day following the handover from the
Coordination Committee.
(2) After receiving information regarding a Bank Default with systemic
impact, DIC will immediately take resolution measures in accordance to
the Deposit Insurance Corporation Act.
(3) DIC will coordinate with BI in the event of staff restructuring at the failed
bank.
CHAPTER V
FOLLOW-UP COORDINATION FOR BANK LICENSE REVOCATION
Article 14
DIC will coordinate with BI to secure a Bank’s assets as well as the closure of
Bank offices whose license has been revoked in accordance with the respective
authority and responsibility.
Article 15
At the behest of BI, DIC will submit information on the performance of a Bank
whose license has been revoked.
Article 16
(1) DIC can request assistance from BI to clarify banking regulations in order
to reconcile and verify customer deposits at a Bank whose license has
been revoked.
(2) BI and DIC will coordinate to resolve any issues regarding the rights and
responsibilities of any participating Bank, whose license has been
revoked, of BI-Real Time Gross Settlement (BI-RTGS) and clearing.
(3) Based on a request by DIC, BI will provide a list of debtors with nonperforming loans in accordance with prevailing Bank Indonesia
Regulations in the implementation of the reconciliation and verification
process of customer deposits at a Bank whose license has been
revoked.
Article 17
(1) BI and DIC will coordinate to compile the closing balance of the Bank.
(2) BI and DIC will receive the closing balance from a Bank official.
Article 18
BI and DIC will coordinate follow-up actions for any suspicion of banking crime;
discovered by BI before the business license was revoked or by DIC thereafter.
Article 19
BI and DIC will coordinate in the request and extension of overseas travel bans
for directors, commissioners, shareholders, including majority shareholders,
staff, and/or other parties related to a bank whose license has been revoked.
CHAPTER VI
SETTING THE INTEREST RATE FOR DEPOSIT CLAIMS
Article 20
(1) In insuring a conventional bank, DIC will determine the standard interest
rate pursuant to the Deposit Insurance Corporation Act.
(2) The standard interest rate as referred to in Paragraph (1) is determined
considering the BI-rate.
(3) The standard interest rate as referred to by Paragraph (1) is set by DIC 3
(three) times per 1 (one) year, except under special circumstances.
CHAPTER VII
MISCELLANEOUS
Article 21
When paying out deposit claims to a sharia bank, DIC will consider prevailing
sharia banking regulations.
Article 22
(1) Bank Indonesia and DIC can utilize information technology to exchange
data and information.
(2) Data and information exchange as referred to by Paragraph (1) includes
the data and information legislated by this Joint Decree, including Bank
financial reports, deposit data and financial ratios.
Article 23
All data and information submitted by BI to DIC or by DIC to BI is confidential.
Article 24
The implementation of this Joint Decree is further regulated in the BI and DIC
Joint Implementation Guide.
CHAPTER VII
CONCLUSION
Article 25
The introduction of this Joint Decree supersedes the previous Memorandum of
Understanding
between
Bank
Indonesia
and
the
Deposit
Insurance
Corporation, dated 29th June 2007.
Article 26
This Joint Decree shall become effective as per the date of signature.
Promulgated in Jakarta
22nd October 2009
PRESIDENT OF THE BOARD OF COMMISSIONERS, DEPOSIT INSURANCE
CORPORATION, RUDJITO
ACTING GOVERNOR OF BANK INDONESIA
DARMIN NASUTION