OJK on SAL Funds: Adequate Planning Required from All Parties
The Financial Services Authority (OJK) has responded to changes in the position of the State Budget Surplus (SAL) funds placed by the government with member banks of the Association of State-Owned Banks (Himbara). OJK Chief Executive of Banking Supervision Dian Ediana Rae stated that sound liquidity management requires predictability and adequate planning from all parties involved in the fund placement.
Dian explained that changes in fund positions—both placements and withdrawals—can be carried out in a planned manner with sufficient notice so that banks have adequate time to adjust their funding strategies. “Thus, the dynamics of these fund flows can be managed optimally without disrupting the stability of our financial system,” he said during the monthly Board of Commissioners meeting press conference on Tuesday, 7 July 2026.
The SAL funds are planned to be placed with Himbara banks until the end of 2026. Therefore, Dian assessed that liquidity management must be conducted based on the principles of good governance and risk management, taking into account the characteristics of the funding source. He added that banks receiving SAL funds also need to conduct regular stress tests and prepare effective contingency plans.
Dian noted that banking liquidity conditions remain adequate. In May 2026, the liquidity coverage ratio (LCR) was recorded at 186.54 percent, well above the 100 percent threshold. Meanwhile, the ratio of liquid assets to third-party funds (AL/DPK) was recorded at 24.74 percent, and liquid assets to non-core deposits (AL/NCD) stood at 108.20 percent.
Overall, the OJK views the replacement of SAL funds in Himbara as supportive of banking liquidity, particularly for meeting short-term liquidity needs. “In addition, this additional source of funds further strengthens banks’ ability to carry out their intermediation function and can also encourage a reduction in the cost of funds, in line with the banks’ capabilities and fund management strategies,” Dian stated.
After a gradual withdrawal, the Ministry of Finance decided to return SAL funds amounting to Rp 281 trillion to Himbara until the end of December 2026. Deputy Minister of Finance Juda Agung said the government is also preparing a standby fund for additional liquidity if needed. “The government’s SAL funds in the banks will be returned, the previous Rp 281 trillion will be returned and extended until the end of December 2026. In addition, there is an extra Rp 100 trillion on standby in case it is required,” Juda said at the House of Representatives complex on Monday, 29 June 2026, as quoted by Antara.
Juda detailed that the government had previously withdrawn Rp 110 trillion in SAL funds in June 2026 from the total placement, which had left a remaining balance of Rp 281 trillion. Now, these funds have been returned to the banks, bringing the total placement back to Rp 281 trillion, which will be maintained until the end of the year.