SHEET COUNTRY
REPUBLIC OF INDONESIA
| No. 78, 2005 | (Explanation in Additional State Sheet Republic Indonesia Number 4527) |
GOVERNMENT REGULATION OF THE REPUBLIC OF INDONESIA
Number 32 YEAR 2005
ABOUT
THE INITIAL CAPITAL OF THE SAVED GUARANTOR INSTITUTION
WITH THE GRACE OF THE ALMIGHTY GOD
PRESIDENT OF THE REPUBLIC OF INDONESIA,
.,, weighed: a. that to implement the provisions in
Section 81 of the Law No. 24 Year 2004 on the Institute of Warranted Warranties, the Government needs to set the initial capital of the Safe Guarantee Institution;
., b. that based on the consideration as referred to in the letter a, it needs to establish the Government Regulation on the Early Capital of the Guarantor Institution;
.,, Given: 1. Section 5 of the paragraph (2) of the Basic Law of the Republic of Indonesia Year of 1945;
., 2. Law Number 17 Year 2003 on State Finance (Indonesian Republic of Indonesia Year 2003 Number 47, Additional Gazette Republic of Indonesia Number 4287);
., 3. Act No. 1 Year 2004 on the State Treasury (Indonesian Republic Year 2004 Number 5, Additional Gazette of the Republic of Indonesia Number 4355);
., 4.
Act Number 24 Year 2004 on the Savings Institution (sheet Of State Of The Republic Of Indonesia In 2004 Number 96, Additional Gazette Of The Republic Of Indonesia Number 4420);
DECIDED:
.,, Setting: A GOVERNMENT REGULATION ON THE INITIAL CAPITAL OF THE GUARANTOR INSTITUTION.
Section 1
.,, (1) Early Modal of the Institute of Savings Guarantee, with this Government Regulation, set at Rp4,000,000,000,000 (four trillion rupiah).
.,, (2) Early Modal as referred to in verse (1) in cash and is a wealth of separated countries.
., (3) Early Modal as referred to in paragraph (1) comes from the Finance Minister's account Number 502,000002 under the name of the State General Bendaharawan for Obligation in the Order of Warranty, at the Bank of Indonesia.
.,, (4) Neraca opening of the Ceremonial Assurance Institute is set by the Board of Commissioners of the Handsome Penal Agency.
Section 2
Another provision in order for implementation of this Government Regulation is set forth by the Minister of Finance.
Section 3
This Government Regulation shall come into effect on the date of the promulctest.
In order for everyone to know it, order the invitational of this Government Regulation with its placement in the State Sheet of the Republic of Indonesia.
.,, Set in Jakarta
on September 5, 2005
PRESIDENT OF THE REPUBLIC OF INDONESIA,
-DR. H. SUSILO BAMBANG YUDHOYONO
Promulgated in Jakarta
on September 5, 2005
MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA,
HAMID AWALUDIN
ADDITIONAL
STATE SHEET RI
| No. 4527 | (Explanation Of State Sheet 2005 Number 78) |
EXPLANATION
Above
GOVERNMENT REGULATION OF THE REPUBLIC OF INDONESIA
Number 32 YEAR 2005
ABOUT
INITIAL CAPITAL OF THE GUARANTOR INSTITUTION
I. UMUM
.,, the banking industry is one of the very important components in the economy of a country. In the modern economy, banks have the primary function of financial intermediary. In the Number 10 Act of 1998 on Banking, the bank is defined as an enterprise that raises funds from the public in the form of a mistress and channel it to the public in the form of credit and or other forms in order. Increase the lives of the people. Given its very important role, the Government is committed to always supporting and maintaining the creation of a healthy and stable banking industry.
.,, at the time of the monetary and banking crisis in 1998, in which public confidence in the banking industry was at its lowest point, the Government set out to advise against the entire bank ' s obligations (blanket guarantee). In the establishment of the blanket policy of the guarantee, the government has since become aware that the policy is only temporary and that it will burden the country's finances. Considering that the public's confidence in the banking industry and the national economy has been restored, the Government has set to end the policy blanket guarantee and replace it with a limited system of summation. Executed by the LPS.
.,, in the Act of Institution Guarantee is set that the initial capital of LPS constitutes the wealth of the country that is separated and is set at at least Rp4 trillion and as large as Rp8 trillion. The separation of the country's wealth for the initial capital of the LPS is a form of government chemoposition in support of the creation of a healthy and stable banking industry. Considering the public's confidence in the LPS's ability to fulfill its obligations, and after consultation with the People's Representative Council, LPS's initial capital was set at Rp4 trillion.
., to compensate for the Government ' s commitment, the banking industry as a party that will enjoy a healthy and stable banking system is expected to also provide its commitment by paying contributions at the start of its membership in the LPS. The constrition of these disputes is paid only one time and will be used to finance the establishment of the LPS.
II. SECTION BY SECTION
Section 1
.,, Verse (1)
.,, the rate of initial capital amount based on some assumptions about the development of the savings amount in the banking industry, number of claims, inflansion levels, investment rate, recovery rate, and LPS operational costs.
Verse (2)
.,, Pretty Clear
Verse (3)
.,, Account 502,000002 is an account of the Minister of Finance at the Bank of Indonesia which was opened to house the issuer of the issuer of the Government of Government No. 004/1999 dated May 28, 1999, which was used to pay for the payment of payment obligations public banks and BPR, as well as the exchange of exchange over programs (EOP). With the end of the Government's licensing program on 22 September 2005, the account was planned to be closed.
Verse (4)
.,, Pretty Clear
Section 2
.,, pretty clear.
Section 3
.,, Pretty Clear.
