Functions of Indonesia Deposit Insurance Corporation (IDIC)

1. To insure customer’s deposits.
2. To play an active role in maintaining banking system stability in accordance with its authority.

Duties of Indonesia Deposit Insurance Corporation (IDIC)

1. To formulate and establish a policy on deposit insurance implementation.
2. To implement deposit insurance.
3. To formulate and establish a policy to allow IDIC to play an active role in maintaining banking system stability.
4. To formulate, establish, and implement a policy on how to handle Failed Banks without systemic impacts.
5. To handle Failed Banks with systemic impacts.

Authority of Indonesia Deposit Insurance Corporation (IDIC)

1. To determine and levy insurance premium.
2. To determine and levy contributions when a bank first becomes a participant.
3. To manage the assets and liabilities of IDIC.
4. To acquire data on customer’s deposits, bank soundness, financial reports of banks, and audit reports of banks provided that acquiring such data does not breach confidentiality of banks.
5. To reconcile, verify, and/or confirm the data set forth in item 4.
6. To determine terms, conditions, and mechanism of claim payment.
7. To appoint, authorize, and/or assign another party to act for and/or on behalf of IDIC to perform certain duties.
8. To provide information to banks and the public on deposit insurance.
9. To impose administrative sanctions.