Selasa, Agustus 10, 2021

OJK Extends Credit Restructuring until March 2022

The Chair of the Financial Services Authority (Otoritas Jasa Keuangan – "OJK"), Wimboh Santoso, recently issued a statement affirming that the OJK was set to extend credit restructuring until March 2022. However, several matters are still to be discussed and decided during talks with representatives from the banking industry, including the extension period, starting date and industry allowances in terms of possible losses that are sustained in relation to productive assets (Penyisihan Penghapusan Aktiva Produktif/PPAP).
According to OJK data, banking intermediation has grown with sustained credit risk, as reflected in bank credit for June 2021, which increased by Rp. 67.39 trillion over the previous month’s figure, or 0.59% on a year-to-year basis or 1.83% on a year-to-date basis. Mr. Santoso stated that this data was in line with the overall improving trend that has been seen during the last quarter and has been complemented by loan interest rates characterized by a downward trend of 43 basis points in comparison with the figure for March 2021. These figures are consistent with improving economic performance during the second quarter of 2021.
Meanwhile, the Chair of the Board of Commissioners of the Deposit Insurance Corporation (Lembaga Penjamin Simpanan – "LPS"), Purbaya Yudhi Sadewa, has explained that the LPS is planning to lower guarantee interest rates in order to encourage economic growth. Mr. Sadewa went on to elaborate that the current guarantee interest rates for rupiah deposits within commercial banks have been set at 4% for rural banks (Bank Perkreditan Rakyat/BPR) and 6.5% and 0.5% for foreign-exchange deposits in commercial banks.
Furthermore, Indonesia’s Minister of Finance, Sri Mulyani Indrawati, in her role as Chair of the Financial System Stability Committee (Komite Stabilitas Sistem Keuangan/KSSK), has revealed that the stability of the national financial system during the second quarter of 2021 was normal as the country began tackling the so-called Delta variant of Corona Virus Disease 2019 (COVID-19).
For more on this story, see Hukumonline: “Restrukturisasi Kredit Akan Diperpanjang Hingga Maret 2022”.

......

Subscribe to read more legal analysis.

Hukumonline Pro Intelligence

Platform AI hukum terpercaya sebagai solusi komprehensif riset Anda

Professional Solutions

University Solutions

Pro

Rp 5.000.000 /bulan

Jadwalkan Demo

Lihat Detail

Pro AI

Terfavorit

Rp 8.200.000 /bulan

Jadwalkan Demo

Lihat Detail

Pro Compliance

New

Rp 12.500.000 /bulan

Jadwalkan Demo

Lihat Detail

*Syarat dan ketentuan berlaku

The Chair of the Financial Services Authority (Otoritas Jasa Keuangan – "OJK"), Wimboh Santoso, recently issued a statement affirming that the OJK was set to extend credit restructuring until March 2022. However, several matters are still to be discussed and decided during talks with representatives from the banking industry, including the extension period, starting date and industry allowances in terms of possible losses that are sustained in relation to productive assets (Penyisihan Penghapusan Aktiva Produktif/PPAP).
According to OJK data, banking intermediation has grown with sustained credit risk, as reflected in bank credit for June 2021, which increased by Rp. 67.39 trillion over the previous month’s figure, or 0.59% on a year-to-year basis or 1.83% on a year-to-date basis. Mr. Santoso stated that this data was in line with the overall improving trend that has been seen during the last quarter and has been complemented by loan interest rates characterized by a downward trend of 43 basis points in comparison with the figure for March 2021. These figures are consistent with improving economic performance during the second quarter of 2021.
Meanwhile, the Chair of the Board of Commissioners of the Deposit Insurance Corporation (Lembaga Penjamin Simpanan – "LPS"), Purbaya Yudhi Sadewa, has explained that the LPS is planning to lower guarantee interest rates in order to encourage economic growth. Mr. Sadewa went on to elaborate that the current guarantee interest rates for rupiah deposits within commercial banks have been set at 4% for rural banks (Bank Perkreditan Rakyat/BPR) and 6.5% and 0.5% for foreign-exchange deposits in commercial banks.
Furthermore, Indonesia’s Minister of Finance, Sri Mulyani Indrawati, in her role as Chair of the Financial System Stability Committee (Komite Stabilitas Sistem Keuangan/KSSK), has revealed that the stability of the national financial system during the second quarter of 2021 was normal as the country began tackling the so-called Delta variant of Corona Virus Disease 2019 (COVID-19).
For more on this story, see Hukumonline: “Restrukturisasi Kredit Akan Diperpanjang Hingga Maret 2022”.

......