In 2024, the Deposit Insurance Corporation (Lembaga Penjamin Simpanan– “ LPS ”) introduced a new set of procedures for the payment of membership contributions, deposit insurance premiums (“ Premiums ”) and fines for underpayments and/or late payments of Premiums (“ Fines ”) through the issuance of Circular No. SE-5/ADK1/2024 (“ Circular 5/2024 ”). [1]
LPS Tightens Premium Payment Rules for Banks: Calculations Required Prior to Payment, BPR and BPRS Must Only Settle as Billed
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