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! KC FINANCIAL banking. Institution Deposits PP 32-2005 Text copy _?.
Back COUNTRY SHEET Republic of INDONESIA No. 78, 2005 (explanation in an additional Sheet of the Republic of Indonesia Number 4527) GOVERNMENT REGULATION of the REPUBLIC of INDONESIA NUMBER 32 in 2005 ABOUT the INITIAL CAPITAL of LPS with the GRACE of GOD ALMIGHTY the PRESIDENT of the REPUBLIC of INDONESIA,.,, Considering: a. that to implement the provision in Section 81 Act No. 24 of 2004 about Lps, Governments need to establish initial capital Lps;
.,, b. that based on considerations as referred to in letter a, the need to establish government regulation about the initial capital Lps;
.,, Considering: 1. Article 5 paragraph (2) of the Constitution of the Republic of Indonesia in 1945;
., ,2. Act No. 17 of 2003 about State Finances (State Gazette of the Republic of Indonesia Number 47 in 2003, an additional Sheet of the Republic of Indonesia Number 4287);
., ,3. Act No. 1 of 2004 on the Treasury of the State (State Gazette of the Republic of Indonesia in 2004, an additional Sheet No. 5 of the Republic of Indonesia Number 4355);
., ,4. Act No. 24 of 2004 about Lps (Gazette of the Republic of Indonesia Number 96 in 2004, an additional Sheet of the Republic of Indonesia Number 4420);
DECIDED:.,, set: GOVERNMENT REGULATION of INITIAL CAPITAL of LPS.
Section 1.,, (1) the initial capital Lps, with government regulations, this set of Rp 4.000.000.000.000 (four trillion dollars).
.,, (2) the initial capital as referred to in paragraph (1) the shape of cash and is a wealth of countries separated.
.,, (3) the initial capital as referred to in subsection (1) comes from the Minister of Finance Account Number 502.000002 with the name of the Public Treasury Minister of State for Treasury bonds in order to Guarantee, in Bank Indonesia.
.,, (4) the opening balance of Lps was set by the Board of Commissioners of the Lps.
Article 2 the other provisions in the framework of the implementation of this Regulation established by the Minister of finance.
Article 3 this Regulation comes into force on the date of promulgation.
In order to make everyone aware of it, ordered the enactment of this Regulation with its placement in the State Gazette of the Republic of Indonesia.
.,, Set in Jakarta on 5 September 2005 the PRESIDENT of the REPUBLIC of INDONESIA Dr. h. SUSILO BAMBANG YUDHOYONO Enacted in Jakarta on September 5, 2005 MINISTER OF JUSTICE and HUMAN RIGHTS of REPUBLIC of INDONESIA, HAMID AWALUDIN RI STATE GAZETTE SUPPLEMENTARY No. 4527 (explanation of the 2005 State Gazette Number 78) EXPLANATION for the REGULATION of the GOVERNMENT of the REPUBLIC of INDONESIA NUMBER 32 in 2005 ABOUT the INITIAL CAPITAL of LPS I.. The Banking Industry, is one of a very important component in the economy of a country. In modern economies, the bank functions primarily as a financial intermediary (financial intermediary). In Act No. 10 of 1998 concerning banking, bank is defined as a business entity that funds from the public in the form of savings and channel it to the community in the form of credit or any other form in order to improve the standard of living of the people a lot. Given the very important role, the Government committed to always support and safeguard the creation of banking industry is healthy and stable.
., While the banking and financial crisis in 1998, in which public confidence towards the banking industry was at its lowest, the Government is set to give a guarantee to all bank liabilities (blanket guarantee). In the determination of policies the Government blanket guarantee, since the beginning has been aware that the policy is only temporary and will overload the finances of the State. With the consideration that public confidence towards the banking industry and the national economy has recovered, the Government has set to end blanket guarantee policy and replace it with limited assurance system to be implemented by the GOVERNMENT.
.,, In legislation that regulated Lps LPS initial capital is the country's wealth are separated and assigned at least the Rp4 trillion and most of Rp8 trillion. The separation of the country's wealth for the initial capital of LPS is a form of kemitmen Government in support of the creation of the banking industry is healthy and stable. Taking into account the public confidence towards the ability of LPS in fulfilling its obligations, and after consultation with the House of representatives, initial capital amounted Rp4 trillion set LPS.
.,, To compensate for the Government's commitment, the banking industry as the parties will enjoy a healthy banking system is stable and is expected to also be able to provide its commitment by way of paying contributions in the early kepesertaannya in the LPS. The membership contribution is only paid one time and will be used to finance the establishment of the LPS.
II. For the SAKE of ARTICLE ARTICLE article 1, paragraph (1), the determination of the amount of initial capital, based on some assumptions about the development of the number of deposits in the banking industry, the number of estimated claims, level inflansi, level of investment results, the level of refund claims (recovery rate), and the operational costs of LPS. Subsection (2), quite obviously, subsection (3), 502.000002, bank account is the account of the Minister of finance in the Bank Indonesia, which was opened to accommodate the Fund results publication government debt Number 004/1999 dated 28 May 1999, which is used to pay the guarantee obligation public bank and BPR, as well as the securing of exchange over the program (EOP). With the end of the Government guarantee program on September 22, 2005, these accounts are planned to be closed. Subsection (4),, is quite clear, article 2, article 3 clearly Enough, clear enough,
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