Copyright (c) 2023 Maulidina Nur Budiastuti, Harya Kuncara Wiralaga, Siti Fatimah Zahra
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
ANALYSIS OF THE EFFECT OF MACROPRUDENTIAL POLICY INSTRUMENTS ON COMMERCIAL BANK LIQUIDITY IN INDONESIA
Corresponding Author(s) : Maulidina Nur Budiastuti
International Research of Multidisciplinary Analysis,
Vol. 1 No. 2 (2023): International Research of Multidisciplinary Analysis
Abstract
Liquidity is an important aspect that can be considered a bank's lifeblood. To maintain business continuity, banks must always manage liquidity effectively. Liquidity easing is one strategy to assist economic growth during the COVID-19 epidemic. Where macroprudential policies are used to ease liquidity restrictions. The government seeks to induce more outstanding lending to debtors to promote economic growth.
On the other hand, this easing of liquidity is thought to help maintain bank operations solvent. This liquidity easing during the pandemic was carried out by reducing the reserve requirement and increasing the MPLB ratio. In addition, Bank Indonesia strengthened RIM by adding an export money order in its calculation. The goal of this research is to look at how macroprudential policy, such as the Statutory Reserves instrument, the Macroprudential Intermediation Ratio, and the Macroprudential Liquidity Buffer, affects the liquidity of traditional commercial banks in Indonesia from 2018 to 2021. The monthly data comes from the Financial Services Authority website, specifically the Indonesian Banking Statistics section. The researchers employed a multiple linear regression approach utilizing EViews 10 software to evaluate the three hypotheses. First, the Statutory Reserves have a negative and minor influence on commercial bank liquidity, according to the findings. Second, RIM has a good and considerable impact on commercial bank liquidity. Third, PLM has a considerable negative impact on commercial bank liquidity. Simultaneously, the three independent factors are discovered to impact commercial bank liquidity
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- Abubakar, A., & Setiawan, Y. (2022). Central Bank Policy Mix: Issues, Challenges, and Policy Responses. In Central Bank Policy Mix: Issues, Challenges, and Policy Responses. Springer Singapore. https://doi.org/10.1007/978-981-16-6827-2
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- Converse, N. (2018). Uncertainty, capital flows, and maturity mismatch. Journal of International Money and Finance, 88, 260–275. https://doi.org/10.1016/j.jimonfin.2017.07.013
- Dwiningsih, N. (2020). Analisa Penggunaan Metode Penelitian Regresi Data Panel Pada Studi Kasus Skripsi Mahasiswa Bimbingan Prodi Manajemen Universitas Trilogi. Laporan Penelitian.
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- Ichsan, N. (2013). Pengelolaan Likuiditas Bank Syariah. Nurul Ichsan 1. Dr. Hamka (Uhamka), Jl. Limau II, 82–103.
- International Monetary Fund. (2011). Macroprudential Policy: What Instruments and How to Use them? Lessons From Country Experiences (Volume 2011: Issue 238). https://doi.org/https://doi.org/10.5089/9781463922603.001
- Kristiyanto, S., & Widodo, S. (2020). Analisa Intermediasi Makroprudensial Pada Bank Berdampak Sistemik di Indonesia. 3(1), 40–53.
- Lekshmi, P., & Ganesh, C. (2015). Macroprudential Regulation and Bank Performance: Evidence from India. Cloud Systems in Supply Chains, 150–166. London: Palgrave MacMillan. https://doi.org/10.1057/9781137324245_9
- Lesmana, I. (2007). Risiko Likuiditas Bank dan Asset Liabilities Management. Universitas Gunadarma.
- Lupita, V., & Lestari, W. A. (2020). “ Strategi Bank BRI DalamMenjagaL ikuiditas di Masa Pandemi COVID- 19 ” " BRI ’ s Strategy in Maintaining Liquidity in the Pandemic COVID-19 ". Jurnal Kompetitif Bisnis Edisi Covid-19, 1, 35–43.
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- Pandiangan, H. J. (2019). Lembaga Penjamin Simpanan Dalam Likuidasi Bank Di Indonesia. To-Ra, 5(2), 49. https://doi.org/10.33541/tora.v5i2.1198
- Pangestika, S. (2015). Analisis estimasi model regresi data panel dengan pendekatan common effect model (cem), fixed effect model (fem), dan random effect model (rem). Universitas Negeri Semarang.
- Purwanto, H. (2001). Aspek-aspek risiko manajemen perbankan ditinjau dari hukum perbankan indonesia (Tesis). Universitas Indonesia, Depok. Retrieved from https://library.ui.ac.id/detail?id=20267517&lokasi=lokal
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- Rush, P. (2018). Macroprudential Policy. Real Market Economics, 105–119. https://doi.org/10.1057/978-1-349-95278-6_6
- Sakti, I. (2018). ANALISIS REGRESI DATA PANEL.
- Santoso, A. L., & Sukihanjani, T. (2012). Faktor-Faktor yang Mempengaruhi Likuiditas Perbankan Syariah di Indonesia. Jurnal Ekonomi Universitas Sebelas Maret, 221–231.
- Samsurin, U. (2017). Pengaruh Sertifikat Bank Indonesia Syariah, Giro Wajib Minimum, dan Pembiayaan Bagi Hasil Terhadap Likuiditas Bank Umum Syariah di Indonesia (Periode 2011-2015). Universitas Islam Negeri Syarif Hidayatullah Jakarta.
- Singagerda, F. S. (2018). Model Regresi Panel Data dan Aplikasi Eviews. 2, 1–19. https://doi.org/10.31227/osf.io/vkx2t
- Salim and Syahrum, (2012). Metodologi penelitian Kualitatif. Citapustaka Media, Bandung. ISBN 979-3216-66-2
- Tovar, C. E., Escribano, M. G., & Martin, M. V. (2012). Credit Growth and the Effectiveness of Reserve Requirements and Other Macroprudential Instruments in Latin America. IMF Working Papers, 12(142), 1. https://doi.org/10.5089/9781475503999.001
- Wijayanti, R., Adhi, N. M. P., & Harun, C. A. (2020). Effectiveness of Macroprudential Policies and Their Interaction with Monetary Policy in Indonesia. Ssrn, 110, 31–50.
- Wuryandani, G., Ginting, R., Iskandar, D., & Sitompul, Z. (2014). Pengelolaan Dana Dan Likuiditas Bank. Buletin Ekonomi Moneter Dan Perbankan, 16(3), 247–276. https://doi.org/10.21098/bemp.v16i3.45
- Yoel, Eric Matheus Tena. (2016). Pengaruh Kebijakan Makroprudensial Terhadap Siklus Kredit: Sebuah Studi atas Penggunaan Instrumen CAR dan GMW Perbankan Indonesia 2006-2013. Jurnal Ekonomi Fakultas Ekonomi Universitas Katolik Parahyangan.
- Yustina, W., Suryanto, T., Noviarita, H., & Anggraeni, E. (2021). Analysis of Factors Affecting Liquidity of Islamic Banking Listed on the Indonesia Stock Exchange. Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah, 4(1), 47–61. https://doi.org/10.47467/alkharaj.v4i1.414
References
Abubakar, A., & Setiawan, Y. (2022). Central Bank Policy Mix: Issues, Challenges, and Policy Responses. In Central Bank Policy Mix: Issues, Challenges, and Policy Responses. Springer Singapore. https://doi.org/10.1007/978-981-16-6827-2
Agustina, & Wijaya, A. (2013). Analisis Faktor-Faktor Yang Mempengaruhi Loan Deposit Ratio Bank Swasta Nasional di Bank Indonesia. Jurnal Wira Ekonomi Mikrosil, 3(2), 101–109.
Aprilia, A., & Soebroto, N. W. (2020). Analisis Pengaruh Rasio Likuiditas Efisiensi Operasi, dan Rasio Solvabilitas Terhadap Kinerja Keuangan pada PT Bank Maybank Indonesia Tbk Periode 2010-2018. Keunis, 8(2), 167. https://doi.org/10.32497/keunis.v8i2.2115
Bank Indonesia. (2021). Mengupas Kebijakan Makroprudensial. Retrivied from https://www.bi.go.id/id/edukasi/Documents/Mengupas-Kebijakan-Makroprudensial.pdf/ Retrieved Okt 19. 2021, from Bank Indonesia https://www.bi.go.id/id/edukasi/Documents/Mengupas-Kebijakan-Makroprudensial.pdf
Converse, N. (2018). Uncertainty, capital flows, and maturity mismatch. Journal of International Money and Finance, 88, 260–275. https://doi.org/10.1016/j.jimonfin.2017.07.013
Dwiningsih, N. (2020). Analisa Penggunaan Metode Penelitian Regresi Data Panel Pada Studi Kasus Skripsi Mahasiswa Bimbingan Prodi Manajemen Universitas Trilogi. Laporan Penelitian.
Ecb. (2008). Financial Stability Review. Intellectual Property, 110(February), 1–190. http://www.eestipank.info/pub/en/dokumendid/publikatsioonid/seeriad/finantsvahendus/_2004_1/fsy_504.pdf
Fithriana. (2011). Peraturan Bank Indonesia Mengenai Giro Wajib Minimum Dikaitkan Dengan Fungsi Intermediasi Perbankan. Universitas Indonesia, Depok (skripsi). Retrieved from https://library.ui.ac.id/detail?id=20234436&lokasi=lokal
Handayani, A. S. (2019). Pengaruh Rasio Intermediasi Makroprudensial ( RIM ) terhadap Return on Asset ( ROA ) pada Perbankan yang Terdaftar di Bursa Efek Indonesia ( BEI ). 5, No 1.
Ibnudin. (2016). Prinsip Pengelolaan Likuiditas Bank Syariah. Risâlah, Jurnal Pendidikan Dan Studi Islam, 3(1), 70–77.
Ichsan, N. (2013). Pengelolaan Likuiditas Bank Syariah. Nurul Ichsan 1. Dr. Hamka (Uhamka), Jl. Limau II, 82–103.
International Monetary Fund. (2011). Macroprudential Policy: What Instruments and How to Use them? Lessons From Country Experiences (Volume 2011: Issue 238). https://doi.org/https://doi.org/10.5089/9781463922603.001
Kristiyanto, S., & Widodo, S. (2020). Analisa Intermediasi Makroprudensial Pada Bank Berdampak Sistemik di Indonesia. 3(1), 40–53.
Lekshmi, P., & Ganesh, C. (2015). Macroprudential Regulation and Bank Performance: Evidence from India. Cloud Systems in Supply Chains, 150–166. London: Palgrave MacMillan. https://doi.org/10.1057/9781137324245_9
Lesmana, I. (2007). Risiko Likuiditas Bank dan Asset Liabilities Management. Universitas Gunadarma.
Lupita, V., & Lestari, W. A. (2020). “ Strategi Bank BRI DalamMenjagaL ikuiditas di Masa Pandemi COVID- 19 ” " BRI ’ s Strategy in Maintaining Liquidity in the Pandemic COVID-19 ". Jurnal Kompetitif Bisnis Edisi Covid-19, 1, 35–43.
Manarung, Mandala & Prathama Rahardja. (2004), Uang, Perbankan, dan Ekonomi Moneter (Kajian Kontekstual Indonesia). Jakarta: Penerbit Fakultas Ekonomi Universitas Indonesia.
Crockett, Andrew. (2008). Financial Stability Review: Market Liquidity and Financial Stability. Intellectual Property, 110 (February). No. 11. http://www.eestipank.info/pub/en/dokumendid/publikatsioonid/seeriad/finantsvahendus/_2004_1/fsy_504.pdf.
Pandiangan, H. J. (2019). Lembaga Penjamin Simpanan Dalam Likuidasi Bank Di Indonesia. To-Ra, 5(2), 49. https://doi.org/10.33541/tora.v5i2.1198
Pangestika, S. (2015). Analisis estimasi model regresi data panel dengan pendekatan common effect model (cem), fixed effect model (fem), dan random effect model (rem). Universitas Negeri Semarang.
Purwanto, H. (2001). Aspek-aspek risiko manajemen perbankan ditinjau dari hukum perbankan indonesia (Tesis). Universitas Indonesia, Depok. Retrieved from https://library.ui.ac.id/detail?id=20267517&lokasi=lokal
Radiyanti, R. (2020). Analisis Tingkat Kesehatan Bank dengan Menggunakan Metode RBBR pada Bank MANDIRI Tahun 2015 - 2019. Ilmiah Politeknik Piksi Input Serang, 7(1), 19–34.
Rush, P. (2018). Macroprudential Policy. Real Market Economics, 105–119. https://doi.org/10.1057/978-1-349-95278-6_6
Sakti, I. (2018). ANALISIS REGRESI DATA PANEL.
Santoso, A. L., & Sukihanjani, T. (2012). Faktor-Faktor yang Mempengaruhi Likuiditas Perbankan Syariah di Indonesia. Jurnal Ekonomi Universitas Sebelas Maret, 221–231.
Samsurin, U. (2017). Pengaruh Sertifikat Bank Indonesia Syariah, Giro Wajib Minimum, dan Pembiayaan Bagi Hasil Terhadap Likuiditas Bank Umum Syariah di Indonesia (Periode 2011-2015). Universitas Islam Negeri Syarif Hidayatullah Jakarta.
Singagerda, F. S. (2018). Model Regresi Panel Data dan Aplikasi Eviews. 2, 1–19. https://doi.org/10.31227/osf.io/vkx2t
Salim and Syahrum, (2012). Metodologi penelitian Kualitatif. Citapustaka Media, Bandung. ISBN 979-3216-66-2
Tovar, C. E., Escribano, M. G., & Martin, M. V. (2012). Credit Growth and the Effectiveness of Reserve Requirements and Other Macroprudential Instruments in Latin America. IMF Working Papers, 12(142), 1. https://doi.org/10.5089/9781475503999.001
Wijayanti, R., Adhi, N. M. P., & Harun, C. A. (2020). Effectiveness of Macroprudential Policies and Their Interaction with Monetary Policy in Indonesia. Ssrn, 110, 31–50.
Wuryandani, G., Ginting, R., Iskandar, D., & Sitompul, Z. (2014). Pengelolaan Dana Dan Likuiditas Bank. Buletin Ekonomi Moneter Dan Perbankan, 16(3), 247–276. https://doi.org/10.21098/bemp.v16i3.45
Yoel, Eric Matheus Tena. (2016). Pengaruh Kebijakan Makroprudensial Terhadap Siklus Kredit: Sebuah Studi atas Penggunaan Instrumen CAR dan GMW Perbankan Indonesia 2006-2013. Jurnal Ekonomi Fakultas Ekonomi Universitas Katolik Parahyangan.
Yustina, W., Suryanto, T., Noviarita, H., & Anggraeni, E. (2021). Analysis of Factors Affecting Liquidity of Islamic Banking Listed on the Indonesia Stock Exchange. Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah, 4(1), 47–61. https://doi.org/10.47467/alkharaj.v4i1.414