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Selasa, April 2, 2024

OJK Announces End of COVID-19 Credit Restructuring Policy

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Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan "OJK") has announced that its stimulus credit restructuring policy will be wound up on 31 March 2024. The end of this policy is consistent with the lifting of the COVID-19 pandemic status that was realized through the issuance of Decree of the President No. 17 of 2023 ("Decree") in June 2023.
The OJK has completed an assessment of the current condition of Indonesia’s banks and has declared that they are strongly resilient, capable of facing a dynamic economic environment and are supported by strong levels of capital, adequate liquidity and good risk management. As a result, the banking industry is considered ready to face the forthcoming termination of the COVID-19 credit restructuring policy. The Head of the OJK’s Board of Commissioners, Mahendra Siregar ("Head"), has also stated that the end of this policy took prevailing conditions within the Indonesian economy into consideration. In this regard, the economy is now considered to have recovered from the impact of the COVID-19 pandemic, including conditions within the real sector.
The credit restructuring program was introduced in early 2020 and has been widely utilized by debtors, particularly micro-, small- and medium-scale enterprises (usaha mikro kecil menengah/UMKM). The program was a part of a countercyclical policy that was implemented in order to offer support for the performance of debtors, banks and the economy in general, as various players struggled through the pandemic period.
Several indicators in January 2024 revealed that Indonesian banks are now in good condition, as reflected in the Capital Adequacy Ratio (Ratio Kecukupan Modal/CAR), which stood at 27.54%; prevailing liquidity conditions, as indicated through a Liquidity Coverage Ratio (LCR) of 231.14%; a Non-Core Deposit (NCD) level of 123.42%; and adequate levels of profitability. Meanwhile, credit quality is being maintained at a level below the 5% threshold with a Gross NPL of 2.35% and Net NPL of 0.79%. _(ANT)

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Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan "OJK") has announced that its stimulus credit restructuring policy will be wound up on 31 March 2024. The end of this policy is consistent with the lifting of the COVID-19 pandemic status that was realized through the issuance of Decree of the President No. 17 of 2023 ("Decree") in June 2023.
The OJK has completed an assessment of the current condition of Indonesia’s banks and has declared that they are strongly resilient, capable of facing a dynamic economic environment and are supported by strong levels of capital, adequate liquidity and good risk management. As a result, the banking industry is considered ready to face the forthcoming termination of the COVID-19 credit restructuring policy. The Head of the OJK’s Board of Commissioners, Mahendra Siregar ("Head"), has also stated that the end of this policy took prevailing conditions within the Indonesian economy into consideration. In this regard, the economy is now considered to have recovered from the impact of the COVID-19 pandemic, including conditions within the real sector.
The credit restructuring program was introduced in early 2020 and has been widely utilized by debtors, particularly micro-, small- and medium-scale enterprises (usaha mikro kecil menengah/UMKM). The program was a part of a countercyclical policy that was implemented in order to offer support for the performance of debtors, banks and the economy in general, as various players struggled through the pandemic period.
Several indicators in January 2024 revealed that Indonesian banks are now in good condition, as reflected in the Capital Adequacy Ratio (Ratio Kecukupan Modal/CAR), which stood at 27.54%; prevailing liquidity conditions, as indicated through a Liquidity Coverage Ratio (LCR) of 231.14%; a Non-Core Deposit (NCD) level of 123.42%; and adequate levels of profitability. Meanwhile, credit quality is being maintained at a level below the 5% threshold with a Gross NPL of 2.35% and Net NPL of 0.79%. _(ANT)

......

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Semua Fitur Paket Standard
Terjemahan Peraturan
Peraturan Konsolidasi
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Monthly Law Review (MLR)
Indonesian Law Digest (ILD)

STANDARD

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Indonesian Legal Brief (ILB)
Daily Updates
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