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
The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.
The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.
Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.
The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.
The European Banking Authority (EBA) published its annual report on asset encumbrance in banking sector.
The European Banking Authority (EBA) published a methodological guide to mystery shopping.
The Australian Prudential Regulation Authority (APRA) released a letter to authorized deposit-taking institutions to provide an update on key policy settings for the capital framework reforms, which will come into effect from January 01, 2023.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report that assesses the business continuity planning activities of financial market infrastructures or FMIs.
The Bank of England (BoE) published questions and answers (Q&A) on OSCA to BEEDS migration for statistical reporting as well a presentation from the project overview session held with statistical reporters.
The Basel Committee on Banking Supervision (BCBS) is consulting on a technical amendment to the Basel Framework to reflect a new process reviewing the global systemically important bank (G-SIB) assessment methodology.