M E T A D A T A
BASIC INFORMATION
1
Data Category
2
Statistics
Disseminator
3
Address
4
Contact
5
6
7
Telephone
Facsimile
Email
: Interest Rate
Directorate of Economic and Monetary
: Statistics
(DSM) Bank Indonesia
: Jl. M.H. Thamrin No. 2
Jakarta 10350
: Settlement, Information and
Administration Division
Directorate of Monetary Management
: 62-21-3818361, 62-21-3817810
: 62-21-2310171
: milis-seki@bi.go.id
DATA DEFINITION
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BI Rate is the policy rate reflecting the monetary policy
stance adopted by Bank Indonesia and announced to the
public. The BI Rate is announced by the Board of Governors
of Bank Indonesia in each monthly Board of Governors
Meeting.
Bank Indonesia Certificates (SBI) are securities issued in
Rupiah currency by Bank Indonesia as acknowledgement of
short term debt.
Bank Indonesia Sharia Certificates (SBIS) is a short-term
rupiah denominated securities based on sharia principles
issued by Bank Indonesia
Deposit Facility (DF) is placement of rupiah funds by
Banks at Bank Indonesia in terms of Monetary Operations
for a period of 1 (one) business day.
Sharia Deposit Facility (FASBIS) is a deposit facility to
sharia bank and sharia business unit at Bank Indonesia in
the terms of Sharia Monetary Operation for a period of 1
(one) business day.
Lending Facility (LF) is provision of rupiah funds from
Bank Indonesia to Banks in terms of Monetary Operation for
a period of 1 (one) business day.
Interbank Money Market (PUAB) is a lending-borrowing
activity
in
Rupiah
and/or
foreign
currency
among
conventional banks with a tenure of up to 1 (one) year.
PUAB consists of Rupiah PUAB – Morning Session, Rupiah
PUAB – Afternoon Session, and foreign exchange PUAB.
Jakarta Inter-Bank Offered Rate (JIBOR) is offering rate
indicator in interbank money market transactions in
Dec.2010
39
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Indonesia submitted by JIBOR contributor banks.
Insured Interest Rate is fair maximum interest rate to be
guaranteed.
Sharia Interbank Money Market (PUAS) is a short-term
financial transaction among banks conducting business
based on sharia principles either in rupiah or foreign
currency
Mudharabah Investment Deposit is a placement of funds from
a fund owner (shahibul maal) to a fund manager (mudharib)
to conduct a specific business activity using profit and
loss sharing method or revenue sharing method between both
parties based on a ratio mutually agreed in advance.
Before July 2010 :
 BI Rate was announced by the Board of Governors of Bank
Indonesia in each quarterly Board of Governors Meeting.
Therefore, the auction result of weighted average SBI at
any time was no longer interpreted by stakeholders as a
signal of Bank Indonesia monetary policy.
DATA COVERAGE
Coverage :
The data of Interest Rate, Discount and Rate of Return
consist of:
 BI Rate
 SBI (in period of 1, 3, 6 and 9 month)
 SBIS (in period of 1,3, 6 and 9 month)
 Deposit Facility
 FASBIS
 Lending Facility
 PUAB Rupiah – Morning Session (over night and all
maturity)
 PUAB Rupiah – Afternoon Session (over night and all
maturity)
 Foreign exchange PUAB (over night and all maturity)
 JIBOR (1 day, 1 month and 3 month)
 Insured Interest Rate (third party deposit)
 PUAS
 Mudharabah Investment Deposit
Before July 2010 :
The data of Interest
consist of:
 BI Rate
Dec.2010
Rate,
Discount
and
Repayment
Rate
40
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SBI (In period of 1, 3 and 6 month)
SBIS (In period of 1 month)
SBI Repo
SBIS Repo
SWBI
FASBI (1 day of morning session, 1 day of afternoon
session and 7 days)
Repo (SBI, SUN, SBIS, SBSN)
PUAB – Morning Session (over night and all maturity)
PUAB – Afternoon Session (over night and all maturity)
Foreign exchange PUAB (over night and all maturity)
JIBOR (1 day, 1 month and 3 month)
Insured Interest Rate (PUAB, 1 month deposit, 3 month
deposit, third party deposit)
PUAS
Mudharabah Investment Deposit
Rupiah loan and USD according to Bank category and
utilizing type
Rupiah Term Deposit and USD according to Bank category
and maturity
Rupiah Savings according to Bank category
Unit : per cent (per hundred)
PUBLICATION PERIODICITY
Monthly
TIMELINESS
6 (six) weeks after the reference period (website)
7 (seven) weeks after the reference period (for
printed matter)
CD
and
ADVANCE RELEASE CALENDAR (ARC)
ARC (attached) will disclose every year by December.
SOURCE OF DATA
Bank Indonesia (BI) : LBU, LHBU, BI-SSSS, BI website
Indonesia
Deposit
Interest Rate
Dec.2010
Insurance
Corporation
(LPS):
Insured
41
METHODOLOGY
The data recording process are :
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Recording process
- The data of BI Rate is obtained from policy rate
announcement published at BI website.
- The data of SBI and SBIS are obtained from SBI auction
results published at BI website.
- The data of Deposit Facility, FASBIS, and Lending
Facility are obtained from rate announcements in LHBU.
- The data of PUAB, PUAS, JIBOR, and Mudharabah
Investment Deposit are obtained from LHBU that
delivered by Reporting Bank to BI online through
extranet. Data submitted by the banks are entered to
the OLTP (Online Transaction Processing) server after
being validated for data accuracy. The business
validations are done by the system based on parameter
settings. Those Parameter Settings previously have
been set especially for transactional data. Some data
need to be confirmed to the relevant bank for validity
and related to the sanction imposed. Data that has
passed technical validation will be automatically
moved to the portal.
- All data entered to the portal can be accessed
directly by the users and BI through EDW, which is
including the aggregated data, the detailed data by
each Banks and inter-bank transaction data.
- Rupiah PUAB – Morning Session is started at 07.00 WIB
– 12.00 WIB, PUAB – Afternoon Session at 12.00 – 18.00
WIB and Foreign exchange PUAB at 07.00 WIB - 18.00
WIB.

Calculation Method
-
SBI Interest Rate
SBI Interest Rate is calculated using weighted average
method by weighting the rate by the volume of SBI
transaction in each bidding rate which is not exceeded
the SOR conducting in the reference period.
Stop-Out Rate (SOR) is the highest discount rate
resulted from auction in order to achieve SBI quantity
target which will be published by Bank Indonesia.
The SBI Interest Rate formula is as follows:
Dec.2010
42
(vol1 x rate1) + (vol2 x rate2)
+ (vol3 x rate3) + (vol N x rate N)
SBI Interest Rate =
-----------------------------------------------------------------Total Volume
SBI Interest Rate is established by Fixed Rate and
Variable Rate method. SBI Interest Rate with Fixed Rate
method was stipulated by BI and referred to BI Rate
(conducted since Mei 2006 through January 2008). SBI
Interest Rate with Variable Rate method is calculated
using weighted average (conducted since January 1998
through April 2006 and reenacted since February 2008
until now).
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SBIS Rate of Return
The SBIS rate of return is refered to the discount rate
resulting from the auction of SBI with the same
maturity that is issued simultaneously with the
issuance of the SBIS under the following provisions:
a. If the SBI auction applies a fixed rate tender method,
the SBIS rate of return will be the same as the
discount rate of the SBI auction
b. If the SBI auction applies a variable rate tender
method, the SBIS rate of return will be the same as
the weighted average of discount rate resulting from
the SBI auction.
If SBI auction is not conducted in the reference
period, the SBIS rate of return will refer to the
latest SBIS rate of return or SBI discount rate with
the same maturity.
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Deposit Facility Rate
Deposit facility rate
margin.
is
BI
Rate
minus
FASBIS Rate of Return
FASBIS rate of return is refered to
facility rate in the reference period.
a
certain
the
deposit
-
Lending Facility Rate
Lending facility rate is BI Rate plus a certain margin.
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PUAB
PUAB overnight (O/N) interest rate is monthly PUAB rate
with 1 day maturity calculated by weighting avarage
Dec.2010
43
method in the reference period.
The all maturity of PUAB interest rate is monthly PUAB
rate with all maturity calculated by weighting avarage
method in the reference period.
-
JIBOR
JIBOR is calculated from the average Interest Rate
indicator offered by JIBOR bank members. It is
excluding the highest and the lowest offered rates.
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Insured Interest Rate
The Insured Interest Rate is determined by BI since
Juny 1st 1998 through September 21st 2005 including the
maximum of Third Party Deposit Rate and PUAB in Rupiah
and foreign currency (USD). The maximum Insured Third
Party Deposit Rate in Rupiah and foreign currency (USD)
is calculated by the average of term deposit rate for
each maturity in Rupiah and foreign currency (USD) from
JIBOR bank members appointed by Bank Indonesia within 1
(one) week period plus point based margin. The maximum
PUAB Rate in Rupiah and foreign currency (USD) is
calculated by the average of PUAB O/N rate in Rupiah
and foreign currency (USD) from JIBOR bank members
appointed by BI within 1 (one) week period.
With the establishment of Indonesia Deposit Insurance
Corporation (LPS), since September 22nd , 2005, the
maximum insured interest rate is determined by LPS and
limited to the third party deposit (PUAB rate is no
longer insured). From September 22nd , 2005 through May
9th, 2006, the maximum insured interest rate is
calculated by the average of term deposit rate for each
maturity in Rupiah and foreign currency (USD) from
selected banks in a certain period. Since May 9th, 2006,
the insured interest rate is equal to BI Rate or a
certain rate determined by LPS, whereas the USD insured
interest rates is determined by LPS.
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PUAS Rate of Return
The PUAS rate of return is monthly PUAS rate of return
with all maturity calculated by weighting avarage
method in the reference period.
(Total (Indication Rate of IMA Certificate each bank
x profit loss sharing nisbah for Fund
Investment Bank of each bank x volume
transaction of each bank))
PUAS Rate of Return = ---------------------------------------------------------------------------------------------------------------x 100
Dec.2010
44
(Total
volume
of
transaction
in
all
banks)
Information :
Indicator rate of IMA certificate =
Indicator
rate
of IMA certificate rate of return before distributed to
fund’s manager Bank in previous month.
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Mudharabah Investment Deposit Rate of Return
Mudharabah Investment Deposit Rate of Return is monthly
distributed Mudharabah Investment Deposit Rate of Return
with 1 month maturity.
DATA INTEGRITY
The data are final when first disseminated. Changes in
methodology are noted along the data with the new methodology
published for the first time.
PUBLIC ACCESS TO DATA
Data are disseminated on:

BI’ Website
http://www.bi.go.id/web/id/Statistik/Statistik+Ekonomi+dan+
Keuangan+Indonesia/Versi+HTML/Sektor+Moneter/

Indonesian Financial Statistics (SEKI) Publication (printed
matters and CD)
Data can also be acquired from:
 SDDS/IMF’s Website (http://www.bi.go.id/sdds).

BPS` Website (http://www.bps.go.id/)
Dec.2010
45