Role of Financial Services Authority and Deposit Insurance

Corporation in Settlement of Non-performing Loans on Book and Bill

Write-off

Sindy Kartika Siregar, Elvira Fitriyani, Tommy Leonard, Azharuddin, and Heriyanti

Magister of Notary, Universitas Prima Indonesia, Jl. Sekip simpang Sikambing, Medan, Indonesia

Keywords: Credit Settlement, Book Write-off, and Bill Write-off.

Abstract: The problem faced by bank customers is in the credit sector. One of the problems that arise in credit is bad

credit. This paper uses an empirical juridical research method to examine by comparing existing events to

the applicable legal rules. The legal consequence for those who pay off bad loans by book and bill write-offs

is a decrease in the Capital Adequacy Ratio (CAR). Supervision and special attention are carried out by the

Financial Services Authority on banks due to the decline in the soundness of the bank. If the soundness level

of the bank drops drastically, the bank will be categorized as a bank under special supervision and if it

continues, the bank will be closed or liquidated while the debtor has a black record registered in the

Financial Services Authority Debtor Information System. The role of the Financial Services Authority and

the Deposit Insurance Corporation in resolving bad debts on book and bill write-offs from banks in the form

of the Financial Services Authority restructuring problematic rural banks through the Bail in mechanism.

1 INTRODUCTION

Banks are not something strange to people in

developed countries. Various types of banking

businesses are offered. The banking program that

most in demand by both individuals and business

entities is credit services. Credit that is given by the

bank in the form of cash which after receiving the

debtor will be used for personal gain, for example to

make ends meet, increase business capital, and so

on. On the other hand, banks feel the benefits of

lending which are very attractive to the public

because it will affect the soundness level of the bank

from the circulation of existing funds.

In Indonesia, banking is regulated in Act Number

7 of 1992 concerning Banking as and amended by

Act Number 10 of 1998. The definition of a bank in

article 1 number 1 of Act Number 7 of 1992

concerning Banking is: "Business entities collect

funds from the community in the form of savings

and distribute them to the community in order to

improve the standard of living of the wider

community.

Banking law is a set of legal principles in the

form of jurisprudential laws and regulations,

doctrine and other sources of law regulating banking

as an institution and aspects of activities that banks

must fulfill. The definition of credit according to

article 1 number 11 of Law Number 10 of 1998

concerning Amendments to Law Number 7 of 1992

concerning Banking, credit is "the provision of

money or equivalent claims based on a loan

agreement or agreement between a bank and another

bank. The party requires the borrower to pay off the

debt after a certain period with interest”.

From the previous explanation it can be

concluded that the legal relationship that occurs in

the provision of credit is the civil relationship

between the bank and its customers. Bank

agreements with customers to provide funds to meet

customer needs are generally set out in the form of a

loan agreement. Customers need direct evidence,

whether that comes from their own or others'

satisfaction with the goods or services provided, and

customers pay attention to external company

support, especially in Asia, where customers place a

strong emphasis on the company's reputation. The

measure of trust is influenced by cooperation,

behavior or opportunistic quality, sometimes

influencing customer experience so that it can

increase the influence of the company on its

products (Nienaber, 2014). For respondents 18 to 30

years old, the importance of technology innovation

392

Siregar, S., Fitriyani, E., Leonard, T., Azharuddin, . and Heriyanti, .

Role of Financial Services Authority and Deposit Insurance Corporation in Settlement of Non-performing Loans on Book and Bill Write-off.

DOI: 10.5220/0010312600003051

In Proceedings of the International Conference on Culture Heritage, Education, Sustainable Tourism, and Innovation Technologies (CESIT 2020), pages 392-399

ISBN: 978-989-758-501-2

affects the level of attracting new customers and

retaining existing customers, such as types of high-

tech services such as Internet banking, SMS

banking, email banking and phone banking

(Hedayatnia, 2011).

The credit facilities provided by banks to meet

the needs of the public are grouped into three

categories based on their designation, namely

investment, working capital loans, and consumer

loans. Investment and working capital loans are

productive loans because they will be used for

business or business needs, either in the form of

working capital or investment in the purchase of

company assets so that they can produce in the

future. Meanwhile, commercial credit is used to

meet the secondary needs of the community

(Hermansyah, 2008).

In article 8 of Law Number 10 of 1998

concerning Banking, it is stated that:

"In providing credit or financing based on sharia

principles, Commercial Banks are required to have

confidence based on an in-depth analysis of the

debtor's customers' intentions and ability to pay off

their debts and return the agreed financing".

Therefore, before giving credit to debtors,

creditors must carry out economic credit analysis to

prevent the possibility of arrears or becoming bad

credit which causes a decline in bank health. The

economic analysis used by banks for potential

debtors is to use well-known banking principles such

as the 5C Principles and the 4P Principles. The 5C

principles consist of Character, Capital, Capicity,

Collateral and Condition. The meaning of 5C is

Character, which is the debtor's willingness to return

his credit according to the agreement. Capacity and

Capital in the form of a debtor's ability to repay his

credit. Collateral is collateral in the form of objects

or persons that a prospective debtor can provide.

These conditions are general economic conditions,

both national and international economies as well as

the economic conditions of prospective debtors

(Hasibuan, 2005). Meanwhile, the 4P Principles

consist of Personality, Purpose, Payment, and

Prospect. What is meant by 4P is Personality which

relates to the personality of a prospective customer,

such as curriculum vitae, family situation and social

status. Payment is the ability of a prospective

customer to repay credit, and Prospects are the

prospect's future expectations (Hasibuan, 2005).

That the important factors determining customer

selection are service quality and new banking

methods, bank innovation and responsiveness, staff

friendliness and trust in managers, prices and costs,

staff attitude and convenience of location and bank

services. The findings of this study reveal that bank

customers place more emphasis on factors such as

service quality, innovation in banking services,

employee behavior and attitudes and prices.

Therefore, the manager of a commercial retail bank

should seriously consider the above factors in

designing his marketing strategy. Banks classify

loans into two groups, namely non-performing loans

and non-performing loans. Non-performing loans or

also known as non-performing loans are divided into

two categories, namely loans classified as current

and loans with special attention quality, while non-

performing loans are loans categorized as non-

performing loans. because there are already arrears.

Non-performing loans or also known as non-

performing loans are grouped into three groups,

namely substandard credit, doubtful credit, and bad

credit. (Ismail, 2010). As for the impact of bad credit

that occurs as a result of the risks posed by debtors,

namely: "Bank profit / loss decreases", "Bad Credit

Ratio becomes bigger", "The cost of providing

credit-off reserves increases" and "ROA and

decreases ROE" (Ismail, 2010).

Associated with trust as articulated in the

organizational stakeholder trust model, scholars in

marketing need to develop a more macro-view of the

company that examines trust outside of customers to

reflect broader stakeholder focus and issues of

corporate social responsibility, trust reputation and

license to operate. This is needed to restore and

maintain stakeholder trust in large banks. Building a

trustworthy bank is essential for social and economic

progress (Hurley, 2014).

Various ways to resolve non-performing loans

can be done, namely through the existence of

"Rescheduling", "Reconditioning", "Restructuring",

"Combination", and "Execution" for debtors who are

unable to return the principal or interest. However,

in the current era, economic development was so

uncertain that efforts to repay credit were

unsuccessful, so that credit continued to become

bad, causing the bank's non-performing loan (NPL)

position to soar by 5 percent. So that what a bank

can do is to delete books or claims to protect the

health of the bank again.

Legal certainty is made by the government as an

effort to protect banks and debtors, while efforts that

can be made to resolve problem banks can be done

by reconditioning, restructuring and rescheduling. In

addition to the 3R as a problem solving loan model,

there are also problem-solving loan models such as

underhand collateral selling or takeovers. Keywords:

Alternative Settlement Models, Credit, Problematic,

Banking (Hakim, 2018). When the evidence is

Role of Financial Services Authority and Deposit Insurance Corporation in Settlement of Non-performing Loans on Book and Bill Write-off

393

legally insufficient to support either no answer or a

post-answer default decision, the appropriate

disposition is withheld for a new trial. In

determining eligibility for sanctions, the court may

not consider any matter that is not in the "notes,

briefs or other documents filed in an appellate court"

or the supreme court. Without evidence to suggest

that the appeal was made in bad faith, or, for some

courts, in lack of good faith, the penalty is not

appropriate (Hall, 2019). The "irreparable loss"

branch of the preliminary injunction standard, the

requirement that the discovery be proportional to the

needs of the case, and the due process rights of class

members in action for injunctions on indemnity. It

concludes that in each of these areas, courts and

commentators can do more to account for economic

inequality (Carroll, 2020). Based on Article 67

paragraph 1 PBI Number 14/15 / PBI / 2012

concerning Assessment of Commercial Bank Asset

Quality, it is stated: "Write-off and / or collection

can only be done for provision of funds that have

been supported by the calculation of Allowance for

Impairment Losses () of 100% and its quality.has

been determined to crash”. Accounts receivable

write-off is an administrative action taken by the

Bank on bank receivables that have not been

collected / collected. An administrative act is an

intracomtable deletion of books for later recordings

in an extractable manner. detention will be carried

out by parties who are considered strong until they

fulfill it accordingly (Zlotnick, 2020). This

receivable write-off does not eliminate the Bank's

right to collect debtors. Strictly speaking, at any

time, the Bank may collect written-off receivables, if

the receivables are eligible to be collected and have

not expired according to the Law, namely article

1967 of the Civil Code. Credit Analysis is

responsible for submitting write-off proposals to the

authorized official, for Bank credit / receivables that

have met the write-off criteria.

Banks are very burdensome if there are book and

bill write-offs. The bank can write off the

collectability of 5 or bad credit. Write-off occurs

because in efforts to save restructuring it is difficult

to do so that the write-off is a banking strategy to

avoid a decline in the soundness level of a bank

which can be seen from the financial performance of

a bank. Bad credit which results in poor financial

performance so that the elimination of bad credit

will be charged to the Provision for Earning Asset

Losses (PEAL).

Of course, bad debts do not disappear or become

write-offs, but they can still be billed to debtors for

repayment even though the results are not one

hundred percent, but in the future it can provide

benefits for bank finances. Write-off cannot be done

for part of the provision of funds, while write-off

can be done for part or all of the provision of funds.

Bad credit problems that resulted in efforts to

write-off books and write-off claims have occurred

at the research site and resulted in losses in the

banking sector, so that from the background

description above, a step can be taken to conduct

research related to the Role of the Financial Services

Authority and the Deposit Insurance Corporation in

Settling Bad Credit on Write-off. books and

accounts receivable from PT BPR EKA

PRASETYA ”.

In this research, the formulation of the problem

is formulated regarding the application of write-offs

and write-offs of accounts receivable in the

regulations of the Financial Services Authority

(FSA) and the Deposit Insurance Corporation (DIC),

legal consequences for banks that resolve bad credit

in writing, write off and write-off, and the role of

FSA and DIC in resolving bad debts in book and bill

write-offs from banks.

2 RESEARCH MENTHODS

In this study, the empirical juridical method, which

is to compare the rule of law of the country to the

facts in the field was used. Comparison between the

banks of PT BPR Eka Prasetya (BPR or Bank

Perkreditan Rakyat), which is about book and bill

write-offs for non-performing loans that can cause

losses on existing financial books.

The analysis carried out by the financial services

authority and guarantee guarantee institutions in bad

debt was to compare the ways the two institutions

act to deal with bad credit in accordance with civil

law and applicable banking regulations so as to find

conclusions on the existing problem settings.

3 RESEARCH RESULTS AND

ANALYSIS

3.1 Application of the Provisions for

Book and Bill Write-offs

The Financial Services Authority is based on the

principles of good governance which include

independence, accountability, responsibility,

transparency and fairness. Institutionally, the

Financial Services Authority is outside the

CESIT 2020 - International Conference on Culture Heritage, Education, Sustainable Tourism, and Innovation Technologies

394

government, meaning that the Financial Services

Authority is not part of the government's power.

However, it does not rule out the existence of an

element of government representation because in

essence the Financial Services Authority is an

authority in the financial services sector that has

strong relationships and linkages with other

authorities, in this case the fiscal and monetary

authorities.

Write-off is an official mechanism that has a

legal basis, which can be carried out by banks in

general in handling non-performing loan portfolios

where the funds used for write-offs have actually

been prepared by establishing an Allowance for

Impairment Losses in accordance with the Bank's

provisions and Indonesian Regulations. However,

for banks, the issue of write-off is still a

consideration to be applied.

The elimination of bad debts consists of two

stages, namely: conditional write-off and absolute

write-off. The elimination of bad credit is a common

practice for national banks as a way to reduce the

level of non-performing loans (NPL ratio) in order

to improve bank health. The write-off is done by

removing the bad credit portfolio from the bank's

books, but the bank continues to collect creditors.

Meanwhile, in the write-off program, banks no

longer collect creditors (Hariyani, 2010). This claim

write-off includes write-offs that are deemed loss

and cannot be collected again. In this case the bank

actually bears the loss and the amount of credit to be

written-off will actually be written off from the

balance sheet (both on the balance sheet and off the

balance sheet). In other words, deletion is absolute

deletion.

Write-off and / or collection can only be done for

provision of funds of problem quality. The write-off

cannot be done for part of the provision of funds.

Claim write-off can be done for part or all of the

provision of funds. (2) The elimination of claims for

part of the provision of funds as referred to in

paragraph (3) can only be done for Credit

Restructuring or Credit repayment.

Claim write-off and / or write-off can only be

done after the RB has made efforts to return the

Earning Assets given. BPR is obliged to document

the efforts to recover the Earning Assets given and

the basis for consideration of write-offs and / or

collect-offs. RBs are required to administer data and

information regarding Earning Assets that have been

written off and / or collected.

3.2 Legal Consequences for Banks

Settling Bad Credit on book and

Bill Write-offs

State-owned bank bankers are still afraid of legal

depreciation and these banks can be charged with

criminal acts of corruption because there is no

understanding between the bankers and law

enforcement officials as well as the BPK, DPR,

Attorney General and the Corruption Eradication

Commission (KPK) to resolve this problem and

there is a mismatch with prevailing laws and

regulations.

Another levy imposed by BPRs is the collection

of bad debts in the affected areas. In implementing

these levies before PP. 33 of 2006, BPR has

implemented in accordance with the procedures and

requirements stipulated in PMK Number 112 of

2005, namely the distribution of credit before the

date of the disaster in the area concerned. The

procedure is also carried out in accordance with

those stipulated in PMK Number 112 of 2005.

However after PP. 33 of 2006 is in effect, so that the

collection in the disaster area is carried out by Bank

X based on the internal policy of the BPR.

The positive impact is that the write-off rate of

the bank's NPL decreases, so that the health of the

bank also improves. The quality of bank balance

sheets will also improve. Non-yielding credit

figures, credit arrears, and uncollectible interest have

been written off from the balance sheet. This causes

the quality of the bank's earning assets to be better,

thereby improving the health of the bank in the eyes

of Bank Indonesia and of course the public. The

impact on banks as creditors in providing credit is

that the elimination of collection rights held by

banks to collect receivables from debtors is not

written off. For banks, the complete elimination of

credit facilities results in the bank losing the right to

collect the credits it has collected. Partial collection

is carried out, the bank is still entitled to collect part

of the uncollectible credit facility. There are no

specific provisions regulating in detail about write-

offs and collection for commercial banks, how the

procedures are, and the criteria for doing so,

however these arrangements are scattered in various

relevant regulations in the banking sector.

Non-current, doubtful or non-performing loans

are categorized as non-performing loans which

require quick settlement so that bank liquidity is not

disrupted. Settlement was carried out through a

strategy to save problem loans and will be followed

up with write-offs or collectability if the rescue

effort is unsuccessful. However, the provisions

Role of Financial Services Authority and Deposit Insurance Corporation in Settlement of Non-performing Loans on Book and Bill Write-off

395

regarding the settlement of bad credit through book

and claim write-offs at BPRs were constrained by

the authorized agency to resolve them due to

disagreements regarding the definition of “state

assets and the legality aspect of the provisions that

change the housing institution”.

With the regulations listed in Article 29

paragraph 3 of Law Number 10 of 1998, credit

granting must receive internal supervision from PT

BPR Eka Prasetya so that people who are trusted in

making savings do not experience loss of trust due to

bad or problematic credit which results in book and

bill/ claim write-offs.

In addition, the legal consequences that occurred

at PT BPR Eka Prasetya following the results of

interviews with the Credit Analysis section and

Branch Managers of the Tandem Downstream

Branch Office which will also be attached are

receiving attention and supervision from the

Financial Services Authority because write-offs and

claim write-offs affect the health of the bank. If the

soundness level of a bank decreases drastically, then

the bank is categorized as a bank under special

supervision and if it is ignored, the bank will be

closed or liquidated by the Financial Services

Authority.

As for debtors, the legal consequence received is

the existence of a black note in the Financial

Services Authority's Debtor Information System so

that debtors who were registered with black notes

will receive consideration when applying for credit

at other banks. In addition to write-off, if the debtor

does not make a payment, the bank will make two

summons and then an auction will be conducted.

3.3 The Role of the Financial Services

Authority and the Deposit

Insurance Corporation in

Settlement of Bad Loans on Book

and Bill Write-offs

The financial sector in Indonesia, both banks and

non-bank financial institutions, has experienced

rapid development. These developments have

triggered increased interconnections and transactions

between one financial institution and another. In this

situation, the loose or detached supervision of

financial institutions tends to lead to abuse that has

fatal consequences for the health of the financial

institution. Indeed, there are many options for

determining the financial industry supervision

model. However, each model basically has its own

advantages and disadvantages and leaves a gap for

deviation. Therefore, no model of financial industry

supervision in any country is perfect. There are at

least 4 (four) models of supervision that are applied

in various countries, namely the institutional,

integrated, twin-peak, and functional approach. Each

country that adopts a certain approach also adapts to

the characteristics of the financial industry in that

country.

The integrated regulatory and supervisory model

introduced by the Financial Services Authority has

advantages, especially in responding to the

increasingly integrated trend of the financial

industry. Currently, for example, the phenomenon of

universal banking or a bank that can serve all types

of financial services has become a common

panorama. With the Financial Services Authority as

a supervisory agency, it is hoped that licensing,

regulatory, supervisory and policy issues will

become easier, because they are under one roof. In

addition, the Financial Services Authority as a

supervisory agency also allows the use of economies

of scale and economies of scope so that its

supervision becomes deeper. However, the Financial

Services Authority as a "supervisory agency" is also

experiencing weaknesses. With such a wide scope of

work for regulation and supervision as well as a

wide range of industries, the effectiveness of the

Financial Services Authority is a mainstay that

cannot be ignored if it is not supported by a reliable

system and human resources.

A bank is said to have a problem if the bank is

unable to fulfill its obligations as a third party,

because it experiences losses and as a result, public

trust in the bank decreases. Basically, a bank is

considered problematic if it faces problems in its

operational activities on an ongoing basis and

requires special efforts to resolve them. Once a bank

fails to fulfill its obligations to customers, the

reputation of the bank will waver and it may even

experience a rush (massive withdrawal of funds) by

the customer and in the end even though the bank is

large and healthy it can also close.

The Deposit Insurance Corporation handles

write-offs and collect-offs that have a systemic

impact after the FKSSK hands over the handling to

the Deposit Insurance Corporation. Furthermore, in

carrying out the settlement and handling of the

Failing Bank, the Deposit Insurance Corporation has

the authority to control and manage the assets and

liabilities of the Failing Bank. Then the Deposit

Insurance Corporation guarantees bank customer

deposits in the form of demand deposits, time

deposits, certificates of deposit, savings and / or

other equivalent forms. The value of deposits

guaranteed for each customer at one bank is a

CESIT 2020 - International Conference on Culture Heritage, Education, Sustainable Tourism, and Innovation Technologies

396

maximum of IDR 2,000,000,000.00 (two billion

rupiah). The guaranteed value is expected to protect

all deposits held by small customers who are the

majority of bank customers in Indonesia.

In carrying out its function as a deposit insurance

company for depositing customers, the Deposit

Insurance Corporation has a different role. During

the bank restructuring stage, the Deposit Insurance

Corporation took over the management of the bank

at the behest of Bank Indonesia. Management was

transferred because the bank went bankrupt. In

maintaining the stability of the banking system, the

Deposit Insurance Corporation plays a role in

overcoming failed banks. If the bank fails to be

declared to have a systemic impact, the role of the

IDIC is to handle the failed bank, whereas if the

failed bank is declared to have no systemic impact,

the Deposit Insurance Corporation plays a role in

completing write-offs. and deletion.

With the passing of Law Number 9 of 2016, the

role of the Deposit Insurance Corporation has

increased. This law states that the Deposit Insurance

Corporation plays a role in the prevention and

resolution of financial system crises, namely by

becoming part of the Financial System Stability

Committee (KSSK). Apart from playing a role as a

member of the KSSK, the PPKSK Law also adds to

the role of the Deposit Insurance Corporation,

namely in dealing with the solvency problems of

systemic banks and non-systemic banks. Another

role given by the PPKSK Law to the Deposit

Insurance Corporation is in Banking Restructuring

in a Financial System Crisis. The increasing role of

the Deposit Insurance Corporation as mandated by

the PPKSK Law then results in the increasing and

broader powers of the Deposit Insurance

Corporation (Hasanah, 2017).

4 CONCLUSIONS

The implementation of book and bill/claim write-

offs in the Regulation of the Financial Services

Authority & the Deposit Insurance Corporation are

regulated in Law Number 9 of 2016 concerning

Financial System Crisis Prevention and

Management, Government Regulation Number 21 of

2018 concerning Procedures for Write-Off and

Allowance. Asset Claims from the banking

restructuring program and Financial Services

Authority Regulation Number 33 / POJK.03 / 2018

concerning Earning Asset

Quality and

Determination of Allowance for Earning Asset

Losses for Rural Banks.

The legal consequence of BPR Eka Prasetya's

settlement of bad debts by book and bill write-offs is

a decrease in the Capital Adequacy Ratio (CAR). If

the amount of reserves for write-offs for non-

performing loans is insufficient to cover the amount

of written-off credits, it can reduce profits and

receive supervision from the Financial Services

Authority (FSA). The FSA gives special attention to

banks due to the decline in the soundness of the

bank. If the soundness level of the bank decreases

drastically, the bank will be categorized as a bank

under special supervision and if it continues, the

bank will be closed or liquidated while the debtor

has a draft.

The role of the FSA and the DIC in settling bad

debts on book and bill write-offs from banks in the

form of restructuring of problematic rural banks

through the Bail-in mechanism based on the

mandate of Law Number 9 of 2016 concerning

Financial System Crisis Prevention and

Management. The Deposit Insurance Corporation

makes payments for customer deposit claims starting

with reconciliation and verification of data on

customer deposits that are eligible to be paid and

which are not eligible for payment. The Deposit

Insurance Corporation will form a Liquidation Team

tasked with dissolving bank legal entities and

settling obligations to bank employees in liquidation,

settlement of assets and liabilities, termination of

liquidation, and accountability.

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