OJK IS EXPECTING LOOSER LIQUIDITY

Financial Services Authority (OJK) is expecting looser liquidity and stable cost of fund in the second
half of 2014. Some banks such as BMRI, BBKP and BBCA has started to decrease its special rate of
time deposit although the action is not followed yet by most banks in the industry. OJK also
predicted that bank's bottom line will follow a downtrend throughout 2014.

KI Comment: We believe that the magnitude of liquidity loosening will not significant as according to
the proposed business plan of 2014 to OJK, the loan growth target is still higher than the deposit
growth target. The loosening liquidity will be tilted to the most capitalized banks with strong deposit
franchise.

Bagaimana pendapat temen2 tentang pelonggaran likuiditas yg diharepin ama OJK kedepan ini?

Harusnya alasan pelonggaran likuiditas sepanjang karena pertumbuhan ekonomi yg membaik tentunya bagus. Artinya utk melonggarkan likuiditas suku bunga deposito harus diturunkan, tapi suku bunga kredit juga harus turun. Cost of fund dari bank juga otomatis turun. Paling yg kena imbasnya bank-bank yg banyak exposurenya di SBI. Kalu dia nggak genjot pertumbuhan kredit, penghasilannya akan turun

I see, tapi belakangan ini agak bertolak belakang yah sama rencana OJK, malah beberapa Bank sudah menaikan suku bunga kreditnya, jadi sepertinya kenaikan suku bunga kredit mungkin agak tertahan dan bahkan bisa cenderung turun lagi kedepan. Jadi mungkin jika hal ini terjadi (pelonggaran likuiditas) kedepan sektor property mungkin bisa diuntungkan dengan suku bunga kredit yang lebih rendah, penjualan property melalui KPR bisa meningkat. betulkah?