JAKARTA - The Financial Services Authority (OJK) stated that the total value of credit that had been restructured by banks and financial institutions by the end of May 2020 reached Rp 592.28 trillion. The figure will increase in the near future because there are still 583,000 restructuring proposals being processed.
As much as Rp 517.2 trillion of that figure came from banks, from 5.3 million debtors consisting of 4.5 million MSME debtors (Rp 250.6 trillion) and 780,000 non-MSME debtors (Rp 266.5 trillion). Meanwhile, the remaining Rp 75.08 trillion came from financial institutions, from 2.4 million customers.
Chairman of the Board of Commissioners of OJK Wimboh Santoso stated that this showed the reality that many customers that are unable to pay the principal and interest of their loans anymore. due to the impact of COVID-19.
According to him, OJK welcomed various liquidity schemes, like what Bank Indonesia did reducing the minimum statutory reserve requirement. (LK/AR)