OJK, along with Bank Indonesia and Indonesia Deposit Insurance Corporation (LPS), announced that banking sector is ready to implement integrated reporting (BI-ANTASENA) in July 2021. This commitment was conveyed at a High-Level Meeting in January 2021. The Deputy Governor of BI advised that banks must immediately complete internal preparations and maintain good communication with the authorities to ensure the delivery of quality banking data ahead of the full implementation of integrated reporting.
The implementation of integrated reporting is in line with the information technology-based program on strengthening supervision, which is one of the priorities and strategic policies of OJK. Financial authorities need data and information from integrated reporting in conducting assessments and making policies to maintain the stability of the national financial system. Reporting integration is expected to provide support for the availability of complete, accurate, current, and complete data, which plays an important role in formulating targeted and comprehensive policies to navigate the potential and existing risks. Furthermore, the Chief Executive of Indonesia Deposit Insurance Corporation (LPS) said that the provision of current and comprehensive bank data and information through integrated reporting is very important for LPS in carrying out the function of guaranteeing deposits and bank resolution. Financial authorities need data and information from integrated reporting in conducting assessments and making policies to maintain the stability of the national financial system.
Related Link: Press Release (in Indonesian)
Keywords: Asia Pacific, Indonesia, Banking, Reporting, Integrated Reporting, BI-ANTASENA, Bank Indonesia, OJK
Previous ArticleCBIRC Consults on Guidelines on Corporate Governance
APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.
Bundesbank published a list of "EntryPoints" that are accepted in its reporting system; the list provides taxonomy version and name of the module against each EntryPoint.
The private sector working group of ECB on euro risk-free rates published the recommendations to address events that would trigger fallbacks in the Euro Interbank Offered Rate (EURIBOR)-related contracts, along with the €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered).
EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).
Asia Pacific Australia Banking APS 111 Capital Adequacy Regulatory Capital Basel RBNZ APRA
ESMA published the final guidelines on outsourcing to cloud service providers.
EBA published annual data for two key concepts and indicators in the Deposit Guarantee Schemes (DGS) Directive—available financial means and covered deposits.
OSFI has set out the schedule for release of draft guidance on the management of technology risks by federally regulated financial institutions and private pension plans.
MAS updated rules for new housing loans by banks and finance companies.
HKMA published a statement on the 100% Personal Loan Guarantee Scheme and a guideline on the Green and Sustainable Finance Grant Scheme (GSF Grant Scheme) as announced in the 2021-22 Budget.