Kamis, Desember 8, 2022

LPS Raises Guarantee Interest Rate for Foreign Exchange to 1.75%

The Head of the Board of Commissioners of the Indonesia Deposit Insurance Corporation (Lembaga Penjamin Simpanan – “LPS”), Purbaya Sadewa, recently raised the guarantee interest ratio for foreign exchange by 100 basis points (bps) for commercial banks, which has resulted in a new guarantee interest rate of 1.75%. However, it should be noticed that the interest rate for rupiah savings remains unchanged at 3.75% for commercial banks and 6.25% for rural banks.
The new guarantee interest rate will apply between 9 December 2022 and 31 January 2023 and this raise will be implemented by taking into account recent developments in economic conditions, liquidity, the money markets and the overall stability of the financial system. In addition, the LPS is also aiming to provide space for banks to respond to movements in global liquidity so that they will remain capable of supporting economic recovery through credits.

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The Head of the Board of Commissioners of the Indonesia Deposit Insurance Corporation (Lembaga Penjamin Simpanan – “LPS”), Purbaya Sadewa, recently raised the guarantee interest ratio for foreign exchange by 100 basis points (bps) for commercial banks, which has resulted in a new guarantee interest rate of 1.75%. However, it should be noticed that the interest rate for rupiah savings remains unchanged at 3.75% for commercial banks and 6.25% for rural banks.
The new guarantee interest rate will apply between 9 December 2022 and 31 January 2023 and this raise will be implemented by taking into account recent developments in economic conditions, liquidity, the money markets and the overall stability of the financial system. In addition, the LPS is also aiming to provide space for banks to respond to movements in global liquidity so that they will remain capable of supporting economic recovery through credits.

......

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