Peran sektor perbankan dalam transaksi

Kemarin

Perdagangan memerlukan pasar yang dapat diandalkan.
transaksi yang cepat diperlukan.
- terciptanya uang membantu kecepatan transaksi
dengan pasar yang dapat diandalkan serta transaksi yang cepat, perdagangan dapat dilakukan dengan makin efisien dan mempercepat pertumbuhan ekonomi.

Masalah waktu: penjual ingin dibayar secepatnya, pembeli maunya bayar setelah terima barang.
- bagaimana pas dikirim, kualitas berubah? Atau kapalnya telat?
Masalah jarak: transportation cost, beda mata uang (pas dikirim murah, pas sampe mahal)
Kepastian: Beneran dikirim/dibayar? Ditolak masuk oleh negara tujuan? aturan berubah, dst.

Jika kita percaya pada rekan trading, maka ga masalah.
- this is rarely the case
Semakin besar nilai transaksi, semakin susah untuk percaya.
- temen utang makan siang masih oke. Kalo ngutang 10 juta?
Ingat, persoalan uang bisa menghancurkan persahabatan bahkan keluarga.

Bank uses liquid assets in the form of deposit to finance illiquid investments of borrowers.
Banks cannot lend all of its assets: it has to store a small fraction in their own vault or in the central bank.
- These stored asset is called bank reserves.
- Bank reserves is not circulated in the market, hence not counted in M1 and M2.
In Indonesia, bank needs to have a reserve equals to 3.5% of its total loan.
- Also called reserve requirement ratio.

In normal times, people usually don’t do anything with their saving account.
This way, banks can lend most of the money and reserve some for liquidity.
But if many lenders suddenly would like to withdraw money, bank would not have enough money.
- they might have to sell some asset.
When many people wants to withdraw money at the same time, we call it bank run.

Bank runs happen when borrowers hear Bank is near collapsing.
However, just a rumour could create a real collapse if lenders decided to withdraw money together at the same time.
This can be contagious: a lost of faith in one bank could lead to lost of faith to the entire system.
- This happened in 1998 when several banks were closed.

Deposit insurance. Indonesian depositors is insured (partially) by Lembaga Penjamin Simpanan (LPS)
Capital requirements. Bank is required to have a minimum capital or asset to be able to operate in Indonesia.
Reserve requirements. Currently is 3.5% but it used to be higher. It was lowered due to COVID-19 recession.
Discount window, where the central bank can lend money to private banks so they don’t have to sell their asset.

Bank control how much money circulated in the market by moving deposits between loanable funds and its reserves
Suppose Naufal has a Rp1 million in his pocket. He decided to deposit it to Bank BeCAk.
- Naufal give Bank BeCAk his Rp1 million which reduces money supply
- But Bank BeCAk credits Naufal’s account by Rp1 million which increases money supply
- Hence no change in money supply

But then Daffa come to Bank BeCAk to borrow Rp900k to buy shoes.
Bank BeCAk use its reserve it get from Naufal:
- Bank BeCAk keep Rp 100k of its reserve, which comes from Naufal
- Bank BeCAk credits Daffa’s account Rp900k.
This leads to increased Rp900k in money supply: now there are Rp1.900k of money supply in the market!

Suppose Daffa buy the shoes from Tiara.
Tiara then deposit the money to another bank named Bank Madara.
- Bank Madara adds Rp900k to its reserve.
- Also credit Tiara’s account Rp900k.
But like Bank BeCAk, Bank Madara can loan some of the fund and reducing its reserve!
The more money is circulated, the more expansionary the monetary condition is.

Bank ada di posisi yang pas untuk jadi middle-man
Modal yang besar: dapat menyerap kemungkinan gagal bayar.
Pooling client: bisa profiling klien yang prudent.
- bisa sekalian ngutangin modal kerja eksportir.
relasi yang baik dengan bank internasional / cabang.