BNI Welcomes Positive Placement Of Government Reserve Funds Of IDR 200 Trillion

JAKARTA - PT Bank Negara Indonesia (Persero) Tbk or BNI positively welcomed the Government's plan to withdraw excess reserves (excess reserve) of IDR 200 trillion and place it in national banking.

The Minister of Finance, Purbaya Yudhi Sadive, said that this step would provide a positive stimulus for the economy, especially in strengthening liquidity and encouraging lending to the real sector.

BNI Corporate Secretary Okki Rushartomo, conveyed that this strategic policy has the potential to increase banking liquidity capacity.

Thus, he said that banks can be more optimal in carrying out the intermediation function to channel financing to productive sectors that are the focus of national development.

BNI welcomes every government policy aimed at strengthening national economic growth. Placement of funds in banks will certainly increase liquidity space and become a positive stimulus in supporting financing in the real sector," Okki said in a written statement, Friday, September 12.

He also emphasized that BNI is committed to channeling credit in a healthy and productive manner, in line with government policies in encouraging inclusive and sustainable economic growth

"BNI is committed to continuing to distribute credit in a healthy and productive manner, in line with government priorities," he said.

However, Okky said that the effectiveness of this policy still relies heavily on technical formulation and implementation from the regulator.

According to him, there are several things that need to be clarified, including the placement scheme, governance, timeframe, risk management, and priority sectors for recipients of funds.

"The policy of withdrawing extended reserves funds is seen as the right step to strengthen banking intermediation and support the acceleration of national economic recovery. With stronger liquidity, banks are expected to be more aggressive in funding strategic projects that encourage economic growth," he said.

Previously, the Minister of Finance (Menkeu) Purbaya Yudhi Sadive reminded that state deposits amounting to Rp200 trillion which will be transferred from Bank Indonesia (BI) to national banks should not be used to buy Rupiah Securities of Bank Indonesia (SRBI) or Government Securities (SBN).

"We have spoken with the bank not to buy SRBI or SBN," he told the media crew after a Working Meeting (Raker) with Commission XI of the Indonesian House of Representatives, Thursday, September 11.

He stressed that its use was fully handed over to the bank, as long as its goal was to strengthen liquidity in the national financial system.

"(The designation) likes the bank. The important thing is that we have liquidity into the system," he said.

The funds come from the More Budget Balance (SAL) and the Remaining Budget Financing (SiLPA) which was previously placed in BI.

The initial placement of these funds is aimed at strengthening the liquidity base, including encouraging the circulation of primary money (M0) in the economy.

He added that this fund is expected to be disbursed immediately by banks in the form of credit or financing to support economic growth.

"If you put it in a safe, it's a loss for him. For example, he doesn't put it in BI anymore, does he lose, right? He will be forced to distribute it in the form of credit," he said.

Purbaya explained that this policy aims to encourage market mechanisms to run in encouraging the economy.

"So what we force is to be given fuel so that the market mechanism runs so that they are forced to distribute, not forced, which is usually relaxed, forced to think a little harder," he said.

He also ensured that he would directly monitor the progress of the placement of the funds, which will begin tomorrow through the guarantee scheme.

"What is clear is that it was the first attempt. Put it that way first and we'll see within a week, two weeks, three weeks, what the impact will be on the economy. If it's not enough, add more," he said.

Menurut Purbaya, hingga saat ini, total dana kas negara yang masih tersimpan di BI mencapai sekitar Rp440 triliun dan akan terus dimanfaatkan secara bertahap untuk mendukung likuiditas dan menjaga stabilitas sistem keuangan.

"Daripada nongkrong aja. Tapi nanti kalau kurang kita bisa tambah lagi, kan uang kita tambah terus kan, masuk ada pajak segala macem masuk lagi ke sistem. Tapi yang kita jaga adalah jangan sampai kalau kita terbitin bond, kalau kita menarik pajak, sistemnya kering," ujarnya.

According to Purbaya, until now, the total state cash funds that are still stored in BI have reached around Rp440 trillion and will continue to be used gradually to support liquidity and maintain financial system stability.

"Instead of hanging out. But later if we don't get enough, we can add more money, we will continue to add more money, there is a tax for everything that goes back into the system. But what we are guarding is not to let us issue bonds, if we collect taxes, the system is dry," he said.