PENGARUH INSTRUMEN KEBIJAKAN MAKROPRUDENSIAL TERHADAP RISIKO SISTEMIK PERBANKAN DI INDONESIA
Through the experience of the crisis that has adversely affected the economy, Bank Indonesia seeks to mitigate systemic risk by implementing policies in addition to monetary and fiscal policies, which is macroprudential policies. Macroprudential policy instruments continue to undergo adjustments from the initial policy setting. This study will be conducted with the aim to determine the effect of macroprudential policy instruments on banking systemic risk in Indonesia. This study will use the LTV, RIM, and PLM ratios as macroprudential policy variables, and the ΔCoVaR ratio as a systemic risk variable. With the period 2019-2023 and using the sample of KBMI IV Bank and KBMI III Bank, and the data will be processed using eviews 10 software. The results show that there is a partial effect of macroprudential policy instruments significantly on systemic risk, with the direction of the relationship of LTV and RIM variables to systemic risk which is negative, which means that the higher the level of LTV and RIM, the lower the systemic risk, while the direction of the relationship of PLM variables to systemic risk is positive.