OJK Announces Readiness to Implement Integrated Bank Reporting
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
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