Nugroho & Companions provides intensive expertise with the ability to mix the native knowledge and on-the-floor experience of pros with the specialized experience of international Banking & Finance. MIR is introduced to enhance the previous idea of Mortgage to Funding Ratio (LFR”), by adding component (b) into the ratio calculation to determine the quantity of the Commercial Bank’s mandatory deposit with Bank Indonesia (MIR Deposit”). Beneath BIR 20, along with AUTOMOTIVE, to ensure asset liquidity of Business Banks for the sake of financial stability, BI requires every Commercial Bank to maintain its MIR within eighty-ninety two% (or more if it maintains its CAR at a minimum level of 14%). If a Business Financial institution’s MIR exceeds the threshold or lower than the bottom limit, it is required to maintain a MIR Deposit. Failure to fulfil the duty to maintain a MIR Deposit (if relevant) might be topic to certain administrative sanctions within the form of warning letters and fines.
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