PRESS RELEASE – Deposit Insurance Rate Evaluation for August 2017
DEPOSIT INSURANCE RATE EVALUATION
Indonesia Deposit Insurance Corporation (IDIC) has evaluate deposit insurance rate for Rupiah and Foreign Exchange account on Commercial Bank and Rupiah account on Rural Bank (BPR), where Deposit Insurance Rate for the period of May – September 2017 has no changes with details as follow:
The present Deposit Insurance Rate is considered on track with the current development of banking interest rate. The condition of domestic macro economic fundamental generally well maintained, shown by several indicators such as inflation, foreign exchange rate, and securities yield. However, monetary policy development in developed countries need to pay attention as it may influence liquidity condition.
Based on IDIC regulation, in the case of deposit interest rate agreed between the bank and depositors exceeds Deposit Insurance Rate, then the depositor’s deposit is Not Insured. Nevertheless, the bank shall inform depositors on current Deposit Insurance Rate and put such information on places easily noticed by depositors.
In line with the main purpose to protect depositors and expand insurance coverage, IDIC urges all banks to pay more attention to deposit insurance rate in order to gather deposits. When running their operations, banks shall notice the future liquidity condition. Therefore, banks are expected to obey the regulatios of liquidity management of Bank Indonesia, and banking supervisory and regulatory of Indonesia Financial Services Authority (OJK).
Jakarta, 22 August 2017
Samsu Adi Nugroho
Samsu Adi Nugroho - 08119785360