LPS Lowers Deposit Insurance Interest Rate to 0.25%

  • The Deposit Insurance Corporation (“LPS”) has cut its deposit insurance interest rate for banking institutions to 0.25%. The new rate will apply from 25 January 2020 – 29 May 2020.
  • The current deposit insurance interest rates for banking institutions currently break down as follows: 1) 8.5% for Rural Credit Banks (BPR); and 2) 1.75% for the deposit-insurance foreign-exchange interest rate for commercial banks.
  • Banks are now required to notify their customers of the currently applicable interest rate. If this provision is not fulfilled and customers are subject to interest revenue which exceeds the applicable interest rate, then the customers’ savings will not be considered to satisfy the LPS guarantee criteria.  (ANT)
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  • The Deposit Insurance Corporation (“LPS”) has cut its deposit insurance interest rate for banking institutions to 0.25%. The new rate will apply from 25 January 2020 – 29 May 2020.
  • The current deposit insurance interest rates for banking institutions currently break down as follows: 1) 8.5% for Rural Credit Banks (BPR); and 2) 1.75% for the deposit-insurance foreign-exchange interest rate for commercial banks.
  • Banks are now required to notify their customers of the currently applicable interest rate. If this provision is not fulfilled and customers are subject to interest revenue which exceeds the applicable interest rate, then the customers’ savings will not be considered to satisfy the LPS guarantee criteria.  (ANT)
......

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Hukumonline Pro Intelligence

Platform AI hukum terpercaya sebagai solusi komprehensif riset Anda

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*Syarat dan ketentuan berlaku
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