OJK Amends Regulation on Stimulus Policy Related to Pandemic
OJK issued amendments to Regulation (Number 11/POJK.03/2020) on the "national economic stimulus as a countercyclical policy on the impact of COVID-19." Among other changes, OJK has extended, until March 31, 2022, the implementation period of the Regulation. OJK has also made regulatory adjustments to ensure that risk management and prudential principles for banks are being implemented, in addition to the policies related to bank capital and liquidity. OJK had published this Regulation in March 2020 and the regulation covers economic policy for debtors to support the performance and growth of debtors, including micro, small, and medium enterprises debtors, impacted by the COVID-19 pandemic. The regulation consists of policies related to assessment and determination of credit or financing quality. The amendments came into effect from December 03, 2020.
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Effective Date: December 03, 2020
Keywords: Asia Pacific, Indonesia, Banking, COVID-19, SME, Regulatory Capital, OJK
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