Bank Indonesia Governor Nasution mention an excess fund in the community currently numbers high enough. Its value is almost equal to the total funds in Bank Indonesia Certificates, currently at Rp350 trillion.
"Hence, we issued a new policy by raising the reserve requirement (reserve requirements) from 5 percent to 8 percent," said Nasution at the Commission XI, Monday, September 20, 2010.
How true that excess liquidity? "How much? Total SBI before it issued the new policy reached Rp350 trillion. If that policy later adopted two more months, then it will only reduce the funds in the SBI at Rp50 trillion," he said.
The amount of Rp300 trillions of SBI, said Darmin, not including other securities such as government securities and stocks. "The numbers are big," he said.
GWM raising policy issued by the Bank Indonesia sees huge liquidity in the market. Technically this would cause inflation pushed up.
Contrary to this tightening, continued Darmin, he reminded the policy in 2008 and where at the time of crisis, Bank Indonesia has lowered GWM. The objective, Bank Indonesia intends to increase liquidity in the market, because at the time of banking crises experienced a crisis of confidence.
Not only Bank Indonesia at that time, the government also transfer funds from Bank Indonesia to the three state-owned banks. "So what is being done now is, reducing the already excessive liquidity," he said.
Because liquidity in the market is still quite high, said Nasution, Bank Indonesia is optimistic that the ability of reserve bank credit because of an increase will not affect much. BI next year even believed the increase could reach 35-40 per cent credit. "Because liquidity is currently sufficient," he said.
To this year alone, said Nasution, the realization of credit growth has reached 22 percent. "Next year we'll push with LDR and reserve requirement policy, so that credit can be 35-40 percent," he said
