ID :
24158
Mon, 10/13/2008 - 16:06
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http://m.oananews.org//node/24158
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GOVT ISSUES TWO REGULATIONS IN LIEU OF LAW TO ANTICIPATE FINANCIAL CRISIS
Jakarta, Oct 13 (ANTARA) - The government has issued two regulations in lieu of law (Perpu) in an effort to anticipate the impact of global financial crisis and to maintain the stability of the country's monetary and banking system.
Finance Minister Sri Mulyani said on Monday that one of the two government regulations (Perpus) was the Perpu on the second amendment of Law on Bank Indonesia (Law No. 3 / 2004) and the other one was on the Savings Guarantor Institution (Law No. 25 / 2004).
"The Perpu on the second amendment of Bank Indonesia (UU BI) regulates the expansion of the kinds of bank assets that could be used as collaterals for a short-term funding facility from BI," the minister said.
In the meantime, the Perpu on the Saving Guarantor Institution (LPS) regulated additional criteria that could be used to change the values of deposits that could receive security guarantee from the LPS.
The minister said that President Susilo Bambang Yudhoyono had signed the two Perpus on October 13, 2008. The two Perpus became effective as of the day they were signed on Monday.
"The president has also signed a Perpu on the maximum amount of deposits that could receive security guarantee from the Savings Guarantor Institution, which is effective as of October 13, 2008," the minister added.
Finance Minister Sri Mulyani said on Monday that one of the two government regulations (Perpus) was the Perpu on the second amendment of Law on Bank Indonesia (Law No. 3 / 2004) and the other one was on the Savings Guarantor Institution (Law No. 25 / 2004).
"The Perpu on the second amendment of Bank Indonesia (UU BI) regulates the expansion of the kinds of bank assets that could be used as collaterals for a short-term funding facility from BI," the minister said.
In the meantime, the Perpu on the Saving Guarantor Institution (LPS) regulated additional criteria that could be used to change the values of deposits that could receive security guarantee from the LPS.
The minister said that President Susilo Bambang Yudhoyono had signed the two Perpus on October 13, 2008. The two Perpus became effective as of the day they were signed on Monday.
"The president has also signed a Perpu on the maximum amount of deposits that could receive security guarantee from the Savings Guarantor Institution, which is effective as of October 13, 2008," the minister added.
