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Geographic Eligibility: USA

Publisher: SourceMedia

Other Resources from: SourceMedia

In accordance with the expectations of various circles, Bank Indonesia eventually lowers the reference interest rate, the BI Rate, by 25 basis points, to be 9.25 percent.

The decision of the Board of Governors Meeting (Board of Governors’ Meetings), Bank Indonesia was taken after a thorough evaluation of development and economic and financial prospects, both domestic and global.

“The Board of Governors considered that the impact of the financial crisis of the global economy increasingly evident, as seen in world economic growth estimates in 2009 that had fallen from 3.0 percent to 2.2 percent, which also began looking at the impact the national economy,” a Director of the Directorate of Strategic Planning Public Relations and the BI Dyah NK Makhijani in the press, BI, Thursday (4 / 12).

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National banking for the time being ignored the work program that was compiled at the beginning of the year. The condition for global and domestic finance that continued to worsen forced banking to carry out the internal consolidation and to compile the strategy so that the potential for the loss could be minimized, General Chairman Association of National Banking (Perbanas) Sigit Pramono, on Thursday (9/10) in Jakarta, explain, in the situation as it is now, banking must exacerbate the analysis of the risk, both was related to the direct appointment and the appointment to valuable letters property of banks in US.

In this case was related the fall the value of the letter was valuable resulting from the action sold large-scale. ”Beside that, the bank must carry out classification of the level of the risk debtor foreign currency that exported his product to the USA or the other country that had the potential to be affected the decline in US economics,” Sigit words. The managing director BNI Gatot M. Suwondo explained, his side at this time increased attention in the problem of the liquidity and the potential for problematic credit (nonperforming loan/NPL).
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PT CIMB Niaga (BNGA) said did not have exposure against valuable letters that were published by the foreign financial agency, including the United States and Europe that were fluctuating. “However, as the foreign exchange bank, the company had relations with the correspondent’s banks in the USA and Europe,” said the Secretary Company of the BNGA Ikky Dermabudiman, in his information openness, on Friday (10/10).

According to Ikky, at this time the company had the correspondent 12 banks from the USA and Europe, namely Deutsche Bank AG (Frankfurt), Citibank AG (Frankfurt), the Union of the Bank of Switzerland (Zurich), American Express Bank Ltd (New York), Citibank NA (New York), Wachovia Bank NA (New York), the Bank of New York (New York), Deutsche Bank Trust Company (New York), JP Morgan Chase Bank (New York), the Bank of America (USA), and Citibank International Pl C (London).
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PT Bank Rakyat Indonesia (BRI) Tbk gazed at Lebaran Day recorded the rise in capital credit of the work of 5-10 percent. This credit was used for the productive activity related the implementation of the public holiday of this Islam piety. “Around Lebaran Day generally, capital credit” of the “work increased.” BRI statistics showed the credit request rose 5-10 percent compared with the monthly realization, said the Secretary of the BRI Hartono Sukiman Company, in Jakarta, on Tuesday (23/9/2008).

According to Hartono, in the normal situation, the request of the work of the company of capital credit reached Rp500-700 billion per the month. However, gazed at Lebaran Day the rise of 10-15 percent happened that was used debtor to buy good consumer, the procurement of clothes as far as equipment and the motor of the car workshop.
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The national banking industry more chose to assemble the third party’s fund through the cheap fund. Savings and dominated savings compared with the promising fixed deposit the flower were higher. This policy became the strategic step in appearing the potential for inflation that continued high. Banking statistics that were published by the Indonesian Bank (BI) per April 2008 showed that savings recorded the highest rise of 28.3 percent of Rp 383,303 trillion to Rp 434,105 trillion.

In April 2007 savings that succeeded in being gathered by most was dominated by currency rupiah as big as Rp 334,133 trillion and in the form of foreign currency (foreign currency) as big as Rp 4,170 trillion. This condition continued until April 2008 where savings in the form of rupiah still dominated as big as Rp 423,827 trillion and the rest of them in the form of foreign currency as big as Rp 10,278 trillion. Besides this, also experienced the increase after savings of 12 percent of Rp 338,424 trillion to Rp378,087 trillion. In April 2007, the collection gyro was dominated by currency rupiah as big as Rp 245,802 trillion and the rest of them in the form of foreign currency as big as Rp 92,622 trillion.

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