Sistem dan Lembaga Keuangan

1. SistemdanLembagaKeuangan Budi Purwanto budipu@about.me http://about.me/budipu http://subud.wordpress.com

2. Bank-based Economy Consequences When a country’s financial system relies heavily on banks, systematic vulnerabilities increase “ This leads one to wonder how severe East Asia’s problems would have been during the past eighteen months had those economies not relied so heavily on banks as their means of financial intermediation. Had a functioning capital market existed, the outcome might well have been far more benign. “ Greenspan, “ Lessons from the Global Crisis “, 1999

3. Pengakuanekuitasdanutang Rumah Tangga (Penabung) Perusahaan (Peminjam) tunai Arus Dana TanpaLembagaKeuangan (LK)

4. SertifikaatatauPolis Pengakuanekuitasatauutang Lembaga Keuangan Lembaga Keuangan RumahTangga (Penabung) Perusahaan (Peminjam) tunai tunai Arus Dana Melalui LK Konvensional

5. Pentingnya LK • Without FIs: Low level of fund flows. • Costly for individuals to monitor borrowers • Role of bond covenants in partially alleviating monitoring costs • Less liquidity • Substantial price risk

6. Pengakuan ekuitas dan utang Rumah Tangga (Penabung) Perusahaan (Peminjam) Sertifikat dan Polis Lembaga Keuangan Lembaga Keuangan tunai tunai Arus Dana Melalui Lembaga Keuangan Syariah

7. Arus Dana melalui Lembaga dan Pasar Keuangan • Lembaga Keuangan • Bank Komersial • Perusahaan Asuransi dan Dana Pensiun • PerusahaanInvestasi • dll Dana dipasokkan melalui tabungan atau investasi lain Dana disediakan melalui pinjaman, penempatan, dsb • Pemasok Dana • Perorangan • Perusahaan • Pemerintah • Pengguna Dana • Perorangan • Perusahaan • Pemerintah Investasi dibuat atas nama pemasok • Pasar Keuangan • Pasar Uang • Pasar Modal • Bursa • Outer the Counter Dana disediakan malalui penawaran umum, dsb Dana dipasokkan melalui investasi langsung

8. FungsiLembagaKeuangan

9. Fungsi LK • Brokerage function • Acting as an agent for investors: • e.g. Merrill Lynch, Charles Schwab, Lehman&Brothers • Reduce costs through economies of scale • Encourages higher rate of savings • Asset transformer: • Purchase primary securities by selling financial claims to households • These secondary securities often more marketable

10. Fungsi LK • Information costs: • Investors exposed to Agency Costs • Role of FI as Delegated Monitor (Diamond, 1984) • Shorter term debt contracts easier to monitor than bonds • FI likely to have informational advantage

11. Fungsi LK • Liquidity and Price Risk • Secondary claims issued by FIs have less price risk • FIs have advantage in diversifying risks • S&L debacle of 1980s linked to inadequate diversification of S&Ls

12. Fungsi Lain • Reduced transaction costs • Maturity intermediation • Transmission of monetary policy. • Credit allocation (Areas of special need such as home mortgages). • Intergenerational transfers or time intermediation. • Payment services (FedWire and CHIPS). • Denomination intermediation.

13. Industri Keuangan

14. SISTEM KEUANGAN INDONESIA Perbankan Bukan Bank Bank Indonesia UU No. 23/1999 Dep. Keuangan Bank Umum Bank Perkreditan Rakyat Lembaga Pembiayaan Kepres 61/98 Asuransi UU No. 2/1992 Perusahaan Modal Ventura Dana Pensiun UU 11/92 Pasar Modal UU 8/95 Pegadaian PP 10/90 Perusahaan Penjaminan Sistem Keuangan Indonesia

15. Landasan Hukum Sistem Keuangan Indonesia

16. Regulasi LK • FIs receive special regulatory attention. • Reasons: • Special services provided by FIs in general. • Institution-specific functions such as money supply transmission (banks), credit allocation (thrifts, farm banks), payment services (banks,thrifts), etc. • Negative externalities arise if these services are not provided.

17. Regulasi LK • Important features of regulatory policy: • Protect ultimate sources and users of savings. • Including prevention of unfair practices such as redlining and other discriminatory actions. • Ensure soundness of the system as a whole. • Regulation is not costless • Net regulatory burden.

18. Regulasi LK • Safety and soundness regulation: • Regulations to increase diversification • Minimum capital requirements • Guaranty funds: • FDIC: Bank Insurance Fund (BIF), Savings Association Insurance Fund (SAIF) • Securities Investors Protection Fund (SIPC) • Monitoring and surveillance.

19. Program Pembelajaran Semester Genap 2012/13

20. GBPP

21. Mahasiswa memiliki pengetahuan dasar untuk mengelola lembaga keuangan Mahasiswa mampu mengidentifikasi berbagai risiko lembaga keuangan Mahasiswa mampu melakukan mitigasi risiko lembaga keuangan Mahasiswa mampu menjelaskan sistem bisnis dan operasional, serta produk-produk lembaga-lembaga keuangan. Mahasiswa mampu menjelaskan dasar-dasar manajemen lembaga keuangan. Mahasiswa mampu menjelaskan fungsi lembaga keuangan dalam sistem perekonomian. Analisis Instruksional

22. Pokok-pokok Bahasan (1)

23. Pokok-pokok Bahasan (2)

24. Kepustakaan • Saunders, Anthony & Marcia M. Cornett. 2006. Financial Institutions Management: a Risk Management Approach. 5th Edition. McGraw-Hill International Edition. [SC] • Hull, John C. 2002. Option, Futures, & Other Derivatives. Fift Edition. Prentice Hall. [HJ] • Siamat, Dahlan. 2004. ManajemenLembagaKeuangan. EdisiKeempat. LembagaPenerbitFakultasEkonomiUniversitas Indonesia [SD] • Riyadi, Selamet. 2004. Banking Assets and Liability Management. PenerbitFakultasEkonomiUniversitas Indonesia [RS]

25. Standar Penilaian