JAKARTA: Indonesian central bank, Bank Indonesia, absorbed IDR26.87 trillion from the auction of Certificate of Bank Indonesia (SBI).Nonetheless, a significant number of fund was left unabsorbed since the indicative target had been met. Based on the auction results on 12 January 2011, BI determined the indicative target of IDR25 trillion for SBI maturing in 6 months and 9 months, as it also set IDR2 trillion indicative target for Sharia SBI due 6 months.
Bank Indonesia successfully derived IDR5 trillion from the six-month term SBI with 6.1% yield. The offering value of the government notes in fact reached IDR38.82 trillion.
The central bank also generated IDR20 trillion of the offering of nine-month SBI amounting IDR30.69 trillion with 6.59% yield. The unabsorbed funds from those two types of SBI totaled IDR44.51 trillion from the offering value of IDR69.51 trillion.
In the meantime, the fund absorption of SBI Sharia maturing in six months failed to reach target of IDR2 trillion, yet, the offering value was fully permeated, amounting IDR1.875 trillion, employing the similar yield of the six-month term SBI.
Head of Public Relations Bureau at Public Relations and Strategic Planning Directorate of Bank Indonesia Difi A. Johansyah said that the amount of unabsorbed funds did not concern him much as the fund will be allocated to the auction of time deposit. (T02/NOM)
Source : http://www.bisnis.com/index.php/economy/6506-bi-absorbs-idr2687-trillion-from-sbi-auction - Jan 13, 2011
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