Where Does OJK’s Stimulus on Banking Focus?
The Financial Services Authority (OJK) will provide another stimulus to the banking sector to maintain the financial industry’s stability during economic slowdown due to the Covid-19 pandemic. OJK took the decision taken after assessing that the disease tended to reduce economic activity significantly.
“OJK hopes that the measures taken to curb the Covid-19 can immediately create a new normal, where people can stay active while maintaining the health protocol. As a result, OJK can properly measure and mitigate the liquidity risk and capital adequacy ratio in the financial services industry,” OJK’s spokesperson, Anto Prabowo, explained in a press release on Thursday (5/28).