KETAHANAN SEKTOR KEUANGAN DAN SHADOWBANKING: ANALISA TERHADAP INDUSTRI PEMBIAYAAN DI INDONESIA

Authors

  • Adriyanto Adriyanto Adriyanto, et. al. (Badan Kebijakan Fiskal, Kementerian Keuangan) Ketahanan Sektor Keuangan dan Shadow Banking : Analisa terhadap Industri Pembiayaan di Indonesia

DOI:

https://doi.org/10.31685/kek.v16i3.57

Keywords:

shadow banking, securitization, leverage, maturity transformation, credit growth

Abstract

The failure of supervision instrument on shadow banking practice in the US has triggered financial collapse and spread accross sovereignities. The G20 has asked FSB to undertake in depth analysis of shadow banking progress along with needed recommendations to overcome the weaknesses. This paper attempts to analyze the shadow banking practice in Indonesia particularly in the consumer finance industry by using the flow of fund analysis recommended by FSB and several relevant financial ratios. The size of credit intermediation in this industry only accounts for 3% of GDP compared to bank credit accounting for 30% of GDP in 2011, however the credit growth in finance industry has superseded banking sector. The consumer finance industry are dominantly reliant on bank lending and bond which reduces the susceptibility of market shock. The asset securitization is not common in this industry. The financial sector authority has imposed strick regulation on this industry to ensure industry's financial health. Despite industry's ability to meet those requirements, the high dependency on debt for operation has raised concern for stronger equity increase. Further, the expansive credit intermediation in this industry can bring liquidity problem which requires further regulation.

References

Alakh Niranjan Singh and AKM Rezaul Hossain, 2009, Collateralized debt obligations: A double edged sword of the U.S. financial sistem, Economía , XXXIV, 27 (enero-junio, 2009), hal: 37-56, dapat diunduh dari:

http://www.saber.ula.ve/bitstream/123456789/30302/l/articulo2.pdf

Bank Indonesia, Statistik Perbankan Indonesia, Vol.10, No.l, Desember 2011, dapat diunduh pada: http://www.bi.go.id/NR/rdonlyres/4F85578C-5D30-4D38- 8102-F9E24ElEF3EF/25443/BISPIDesember20111.pdf

Bapepam, 2011, Laporan Tahunan Perusahaan Pembiayaan tahun 2010

Bapepam, 2011, Release_Tutup_Tahun_2011, dapat diunduh pada: http://www.bapepam.go.id/pasar_modal/publikasi_pm/siaran_pers_pm/20 ll/pdf/Release_Tutup_Tahun_2011.pdf

LDR adalah total kredit perbankan yang diberikan kepada pihak ketiga (tidak termasuk antar Bank), dimana Dana Pihak Ketiga mancakup giro, tabungan, dan deposito (tidak tennasuk antar Bank) (sesuai SE No.6/23/DPNP tanggal 31 Mei 2004). LDR merupakan ukuran likuiditas bank. Semakin tinggi LDR menunjukkan semakin tinggi resiko likuiditas bank yang berpengaruh terhadap CAR. Namun tingkat LDR yang rendah menunjukkan rendahnya aktivitas kredit perbankan. Damodaran, Aswath, Breach of Trust: Valuing Financial Service firms, in the Post- Crisis Era (April 29, 2009). Dapat diunduh pada:

http://ssrn.com/abstract=1798578 or

http://dx.doi.org/10.2139/ssrn.1798578

Directorate of Banking Research and Regulation - Bank Indonesia, Perfomance of Structured Products - As of end of January 2009, diunduh pada tanggal 4 April 2012,

http://www.bi.go.id/web/en/Publikasi/Investor+Relation+Unit/Highlight+ News/Perfomance+of+Structured+Products.htm

Financial Crisis Inquiry Report, 2011, Final Report of the National Commission on the Causes of the Financial and, Economic Crisis in the United States, US Government Printing Office

FSB, 2011, Shadow banking: Strengthening Oversight and Regulation Recommendations of the Financial Stability Board

Goodhart, CAE, 2008, The Financial Economists Roundtable's statement on reforming the role of SROs in the securitisation process, VOX Research Based Policy analyst, dapat diunduh dari:

http://www.voxeu.org/index.php?q=node/2667

IMF, Global Financial Stability Report, Containing Sistemic Risks and Restoring Financial Soundness, April 2008, hal-50

Jickling, mark, 2010, causes of the Financial Crisis, Congressional Research service (CRS) report for Congress

Noeth Bryan dan Rajdeep Sengupta, 2010, Is shadow banking really banking?, Federal Reserve of New York

Pidato Timothy Geithner di NY Fed dapat diunduh pada: http://www.newyorkfed.org/newsevents/speeches/2008/tfg080609.html

Poszar, Zolta, dkk, 2010, Shadow banking, Federal Reserve Bank of New York, Staff Report No. 458, July 2010, Revised February 2012, dapat diunduh pada: http://www.newvorkfed.org/research/staff reports/sr458.pdf

Sheng, Andrew, 2009, From Asian to global financial crisis, Cambridge university press, hal-376

Downloads

Published

2016-11-01

Issue

Vol. 16 No. 3 (2012)

Section

Articles

License

STATEMENT OF AUTHENTICITY AND COPYRIGHT RELEASE

I hereby certify that:

  1. The article (Article title) is authentic and never being published previously or will be published in other publication as well as not a plagiarism in any form.
  1. The article does not have any issue with other parties, regarding of the publication copyright.
  1. All the authors have read this statement and agree with the name and sequence.
  1. Hereby, I transfer the copyright of my article (Article title) to the KEK Editorial Board . this copyright transfer includes a right to reproduce a photograph for the similar article and its translation. This is also including a right to upload the article into a computer system which disseminated widely on the internet.
  1. Hereby, I agree with my article (Article title) to be published by KEK Volume (xx) Edition (x), under Creative Common Attribution- NonCommercial-ShareAlike 4.0 licensing. This is also including a right to upload the article into a computer system which disseminated widely on the internet.

Name : (Full Name)
Date : (Signing date)