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Jakarta, CNBC Indonesia – The Financial Services Authority (OJK) has prepared a series of schemes to overcome the tight liquidity threat in the financial industry due to the corona virus, felt by all parts of the banking and non-banking financial services industry.
OJK Board of Commissioners Chairman Wimboh Santoso said the government would provide liquidity assistance to the financial services sector by placing deposits with anchor banks, which are anchor banks. This bank consists of systemic state or private banks.
“This scheme will be designated by a participating bank that was previously an anchor bank or an anchor bank, BI places a deposit, plus a credible bank that is a systemic bank will specify which bank is a participating bank,” Wimboh said during a business meeting. with the Committee of the House of Representatives XI on Wednesday (Wednesday) 5/6/2020).
The term systemic bank refers to the definition of a bank that has a large number of assets and a varied product complexity, with a financial conglomerate. Systemic banks also have ties to other banks, and their position is irreplaceable in the event of bankruptcy or closure.
Bank liquidity in this case means the ability of banks to pay short-term debt at any time. This is when the customer or related parties suddenly invoice.
Wimboh also said that other banks could apply for loans to anchor banks with several different mechanisms for systemic and non-systemic banks and loan guarantees as high-quality assets.
In relation to the liquidity loans provided, it will be adjusted to market interest rates. This is done so that companies applying for liquidity assistance become the last resource, not the first resource.
Wimboh further emphasized that this facility can only be obtained by banks that are still considered healthy. “For unhealthy banks, we ask the owner to deposit or sell the assets to other banks or other parties. Or we can use other schemes, merger schemes and LPS schemes. We have coordinated,” he continued.
As is known, the liquidity threat arose after the financial industry was asked to restructure debtors in the context of a pandemic. This will have an impact on the possibility of liquidity disruption for these companies and financial institutions because there is no interest and principal payment after the restructuring facility is provided.
According to OJK notes from the UMKM sector, up to 50% of loans are restructured, the total funds that will not enter this industry reach Rp 759 billion.
“This loan has the potential to interrupt the liquidity of banks and institutions because there are no capital installments and interest. Because there are subsidies, this interest subsidy has been reduced due to possible liquidity interruptions, so we see that this scheme is necessary if the assumption of 50% requires liquidity funds of Rp “. 115.2 billion “, he concluded.
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