This study evaluates the bank lending channel of monetary policy in Indonesia by using quarterly bank-level data over the period of 2005-2016. I find that the lending channel of monetary policy works for all banks, both large and small. The results suggest that higher capital buffers and better liquidity positions moderate the impact of changes in monetary policy on credit growth for large banks, while capital buffers and liquidity positions do not alter the strength of the lending channel for small banks. The findings indicate that the central bank can use prudential instruments affecting capital buffers and liquidity positions for managing the strength of adjustment in the monetary policy interest rate on bank credit growth.

本研究使用2005-2016年期间的季度季度银行数据评估了印度尼西亚货币政策的银行借贷渠道。我发现货币政策的借贷渠道适用于所有大小银行。结果表明，较高的资本缓冲和较好的流动性头寸可以缓解大型银行货币政策变化对信贷增长的影响，而资本缓冲和流动性头寸不会改变小型银行的借贷渠道。研究结果表明，央行可以使用影响资本缓冲和流动性头寸的审慎工具来管理货币政策利率对银行信贷增长的调整强度。