Jakarta –
The Financial Services Authority (OJK) in the Board of Commissioners’ Meeting Thursday (2/9/2021) decided to extend the relaxation period for bank credit restructuring for a year, from March 31, 2022 to March 31, 2023. The extension of the relaxation of credit restructuring also applies to BPRs and BPRS.
Chairman of the OJK Board of Commissioners, Wimboh Santoso, explained that the decision was taken to continue to maintain the momentum of accelerating national economic recovery and banking stability as well as the performance of debtor restructuring Covid19, which had begun to improve.
“The loan restructuring that we have issued since the beginning of 2020 has greatly helped banks and debtors including MSME players. To maintain that momentum and mitigate the impact of the still high spread of Covid 19, our restructuring relaxation period has been extended until 2023,” said Wimboh in a written statement, Thursday (2/9/2021).
Until now, banks have continued to improve their performance, such as positive credit growth starting in June and the loan at risk (LaR) figure which showed a downward trend but was still relatively high. Meanwhile, the NPL rate slightly increased from 3.06 percent (Dec 2020) to 3.35 percent (July).
Meanwhile, Chief Executive of Banking Supervision Heru Kristiyana explained that the extension of the relaxation of credit restructuring is part of a countercyclical policy and is one of the driving factors needed to support the performance of debtors, banks and the economy in general.
“An extension of the restructuring until 2023 is needed while continuing to apply risk management, given the development of delta variants and mobility restrictions, so it takes more time for banks to establish a Allowance for Impairment Losses (CKPN) and for debtors to organize their business in order to avoid turmoil when the stimulus ends. , said Heru.
What is included in credit restructuring? Just click on the next page.
– .
