The Financial Service Authority (OJK) has sent letters to the management of banks with the request to bring loan interest rates to below 10%, or a single digit, from 12.83% in 2015. The OJK has also conducted the supervisory action to banks regarding the reduction of maximum ceiling or upper limit for deposit rate, starting this March 2015, to 75 basis point above the benchmark BI rate for BUKU IV category and to 100 basis point above BI rate for BUKU 3 category.
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