Ada Pertanyaan? Hubungi Kami 
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Ada Pertanyaan? Hubungi Kami Fathan Qorib, Christina Desy
Desperate to gain the funds from the public—so calledthird party funds (dana pihak ketiga – DPK)—Indonesian banks are currently at “war” battling each other byoffering competitive interest rates. Banking industry statistics show that banks, especially banks with a classification of BUKU III and BUKU IV, have continued to increase the interest rates they are offering, some as high as 11 percent.
Theserates are considerably higher than the 7.5 percent rate of Bank Indonesia (BI) and the 7.75 percent rate of the Indonesia Deposit Insurance Corporation (Lembaga Penjaminan Simpanan - LPS), and at levels deemed unhealthy by the Financial Service Authority (Otoritas Jasa Keuangan – OJK).
According to the OJK, current circumstancesmay lead to undesirable outcomes. Consequently, OJK will put limits oninterest rates that may be offered by national banks. This measure was put in place on1 October 2014, and aims to prevent the potential negative impacts of the current interest rate war, such as high costs to theeconomy, a slowdown in credit expansion, credit risks, and negative impacts on economic activities, all of which can hamper the economic growth.
Nelson Tampubolon, OJK’s Head Executive of Banking Supervision, indicatedthat the limitations will be enforced through supervisory actionsunder which the OJK will impose the 7.75 percent LPS rate as the maximum rate. This rate will apply to deposits of up to IDR 2 billion for BUKU I and BUKU II banks inclusive of all incentives provided to depositing customers.
For BUKU III and BUKU IV banks, the OJK will set different limits. For BUKU III banks, the maximum rate is 225 basis points above the Bank Indonesia (BI) rate at 9.75 percent. The maximum rate for BUKU IV banks is lower than for BUKU IV at 200 basis points above the BI rate or 9.5 percent.
Proving furtherexplanation onthe limit measures, Irwan Lubis, OJK’s Deputy Commissioner of Banking Supervision, said that this action is aimed atprotecting BUKU III banks. Considering that BUKU IV banks are larger—have more capital, a stronger position, and better networks—the OJKbelieves that BUKU III banks must be protected from any head-to-head competition with BUKU IV banks, by providing them with a higher maximum rate limit.
These interest rate limitationsare expected to run effectively for the entire banking industry. In order to ensure the same, Mr. Tampubolon said that the OJK will monitor bankcompliance with thepolicy.
(hot/kc)
Fathan Qorib, Christina Desy
Desperate to gain the funds from the public—so calledthird party funds (dana pihak ketiga – DPK)—Indonesian banks are currently at “war” battling each other byoffering competitive interest rates. Banking industry statistics show that banks, especially banks with a classification of BUKU III and BUKU IV, have continued to increase the interest rates they are offering, some as high as 11 percent.
Theserates are considerably higher than the 7.5 percent rate of Bank Indonesia (BI) and the 7.75 percent rate of the Indonesia Deposit Insurance Corporation (Lembaga Penjaminan Simpanan - LPS), and at levels deemed unhealthy by the Financial Service Authority (Otoritas Jasa Keuangan – OJK).
According to the OJK, current circumstancesmay lead to undesirable outcomes. Consequently, OJK will put limits oninterest rates that may be offered by national banks. This measure was put in place on1 October 2014, and aims to prevent the potential negative impacts of the current interest rate war, such as high costs to theeconomy, a slowdown in credit expansion, credit risks, and negative impacts on economic activities, all of which can hamper the economic growth.
Nelson Tampubolon, OJK’s Head Executive of Banking Supervision, indicatedthat the limitations will be enforced through supervisory actionsunder which the OJK will impose the 7.75 percent LPS rate as the maximum rate. This rate will apply to deposits of up to IDR 2 billion for BUKU I and BUKU II banks inclusive of all incentives provided to depositing customers.
For BUKU III and BUKU IV banks, the OJK will set different limits. For BUKU III banks, the maximum rate is 225 basis points above the Bank Indonesia (BI) rate at 9.75 percent. The maximum rate for BUKU IV banks is lower than for BUKU IV at 200 basis points above the BI rate or 9.5 percent.
Proving furtherexplanation onthe limit measures, Irwan Lubis, OJK’s Deputy Commissioner of Banking Supervision, said that this action is aimed atprotecting BUKU III banks. Considering that BUKU IV banks are larger—have more capital, a stronger position, and better networks—the OJKbelieves that BUKU III banks must be protected from any head-to-head competition with BUKU IV banks, by providing them with a higher maximum rate limit.
These interest rate limitationsare expected to run effectively for the entire banking industry. In order to ensure the same, Mr. Tampubolon said that the OJK will monitor bankcompliance with thepolicy.
(hot/kc)