Featured Product

    OJK Publishes Regulatory Updates for Financial Sector Entities

    June 03, 2022

    The Financial Services Authority of Indonesia (OJK) is strengthening cooperation with the Australian Prudential Regulation Authority (APRA) and the Japanese Financial Services Agency (JFSA) to enhance the regulatory and supervisory capacity and develop the financial services sector. Additionally, OJK issued regulations on the "assessment of the soundness of rural banks and Sharia rural banks" (POJK Number 3/POJK.03/2022) and on the "Credit Information Management Institutions" (POJK Number 5/POJK.03/2022). Both the regulations came into effect in March 2022.

    Regulation on assessment of soundness of rural banks and Sharia rural banks has been issued to encourage increased risk management and governance implementation for the rural banking and Sharia rural banking sector. The assessment of the level of health is carried out by rural banks and Sharia rural banks at least on a semi-annual basis and will take effect from the December 2022 report for the trial phase and the imposition of sanctions will become effective as of the December 2023 report. 

    Regulation on credit information management institutions (LPIP) has been issued to encourage credit distribution and financial inclusion through the development of credit information. The regulation amends existing regulations on credit information management institutions (POJK Number 42/POJK.03/2019). The key amendments include the following:

    • Affirmation of credit information management institution as a rating agency in the financial services sector
    • Increasing the minimum paid-up capital and net capital regulation
    • Product and service development of credit information management institutions
    • Restrictions on access to Financial Information Service System (SLIK) data for credit information management institutions
    • Implementation of governance in credit information management institutions


    Related Links (in Indonesian)



    Keywords: Asia Pacific, Indonesia, Banking, Rural Banks, Credit Rating Agency, Credit Risk, Australia, Japan, Regulatory Capital, APRA, JFSA, OJK, Islamic Banking

    Featured Experts
    Related Articles

    FINMA Approves Merger of Credit Suisse and UBS

    The Swiss Financial Market Supervisory Authority (FINMA) has approved the takeover of Credit Suisse by UBS.

    March 21, 2023 WebPage Regulatory News

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News

    APRA Assesses Macro-Prudential Policy Settings, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) published an information paper that assesses its macro-prudential policy settings aimed at promoting stability at a systemic level.

    March 07, 2023 WebPage Regulatory News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News

    DNB Publishes Multiple Reporting Updates for Banks

    DNB, the central bank of Netherlands, updated the list of additional reporting requests and published additional data quality checks and XBRL-Formula linkbase documents for the first quarter of 2023.

    February 28, 2023 WebPage Regulatory News

    NBB Sets Out Climate Risk Expectations, Issues Reporting Updates

    The National Bank of Belgium (NBB) published a communication on climate-related and environmental risks, issued an update on XBRL reporting

    February 24, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8800