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All Journal Unifikasi: Jurnal Ilmu Hukum Jurnal IUS (Kajian Hukum dan Keadilan) PADJADJARAN Jurnal Ilmu Hukum (Journal of Law) Jurnal Penelitian Hukum De Jure Hasanuddin Law Review Jurnal HAM Jurnal Hukum Positum University Of Bengkulu Law Journal Transnational Business Law Journal Jurnal Legislasi Indonesia Pandecta : Jurnal Penelitian Ilmu Hukum (Research Law Journal)
Teguh Tresna Puja Asmara
Fakultas Hukum Universitas Padjadjaran
Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Other

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The Authority of the Deposit Insurance Corporation as a Neo Lender of Last Resort: Prudential Principles and Risk Management from the Perspective of Monetary Constitutionalism Asmara, Teguh Tresna Puja; Susanto, Mei; Adhihernawan, Muhammad Yoppy
Pandecta Research Law Journal Vol. 20 No. 1 (2025): June, 2025
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/pandecta.v20i1.14220

Abstract

Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector has given a new authority to the Deposit Insurance Corporation (LPS) to place funds in order to handle bank liquidation problems. This authority makes LPS like a neo Lender of Last Resort (LoLR) institution that the central bank generally plays. The placement of funds by LPS can pose a great risk considering that the bank that receives the placement of funds falls into the category of banks under the restructuring of the Financial Services Authority (OJK) and does not meet the requirements of receiving loans or short-term liquidity financing from Bank Indonesia (BI). The research shows that: first, the authority of LPS as a neo LoLR in the form of fund placement can still be debated because it creates a double LoLR that is not in accordance with the principle of division and separation of powers. However, in a historical perspective, the authority to place LPS funds has existed since the mass economic crisis conditions caused by COVID-2019 with the issuance of PP No. 33 of 2020. Second, BI’s short-term liquidity loans or financing have more comprehensive requirements than the requirements for the placement of funds from LPS. These different requirements are very dangerous because they have the potential to ignore the character of predictability and knowledge in monetary constitutionalism. Even if the authority to place LPS funds exists, the implementation must apply the principles of prudence and risk management to anticipate potential unpredictable losses.
Co-Authors Adhihernawan, Muhammad Yoppy Anita Afriana Bambang Daru Nugroho Isis Ikhwansyah Kusuma, Sylvia Lastuti Abubakar Lastuti Abubakar Lastuti Abubakar Mei Susanto Tarsisius Murwadji Tri Handayani Tri Handayani