Featured Product

    OJK Provides Updates on IndONIA and Suptech Integrated Data Analytics

    March 31, 2022

    The Financial Services Authority of Indonesia (OJK) issued a statement confirming IndONIA as overnight tenor Rupiah interest rate reference as well as a statement on the launch of OJK Suptech Integrated Data Analytics (OSIDA), which will automate the analysis of financial services industry report data.

    Below are key details of the recent updates:

    • The National Working Group on Benchmark Reform (NWGBR) agreed to establish IndONIA as the reference for the overnight tenor rupiah interest rate. IndONIA will be the basis for establishing the rupiah interest rate reference in the 1-week to 12-month tenor. Furthermore, to strengthen the availability of rupiah interest rate references in tenors of 1 week to 12 months, the Working Group will conduct assessments to be able to provide recommendations regarding the choice of interest rate references. The selection of the reference interest rate will be carried out according to the principles that apply internationally. The Ministry of Finance, Bank Indonesia, OJK, and the Indonesian Foreign Exchange Market Committee are members of the Working Group.
    • The statement on suptech platform OSIDA explains that the use of OSIDA will detect early warning signals and compliance checks as early indications of governance weaknesses in bank business activities, potential for fraud, data manipulation, and non-compliance with regulations. In this way, the OSIDA will help the OJK Supervisors to intervene and take supervisory actions early as an anticipatory step. “In the early stages of implementation, OSIDA's analytics scenario is still in the scope of analysis per individual bank and industry-wide banking.” Further development of OSIDA will include capital market and insurance data so that an integrated cross-sectoral analysis can be carried out. In addition, the development of capabilities to process unstructured data from external sources such as Reuters, social media, and online news, will be able to further enhance OSIDA's ability to provide more in-depth insights and red flags related to the financial services industry being monitored.

     

    Related links (in Indonesian)

     

    Keywords: Asia Pacific, Indonesia, Banking, IndONIA, Interest Rate Benchmarks, Reference Rates, Securities, Suptech, Regtech, OSIDA, Data Analytics, OJK

    Related Articles
    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
    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
    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
    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
    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
    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
    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
    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
    News

    EBA Updates Address Securitization Standards and DGS Guidelines

    The European Banking Authority (EBA) published the final draft of the regulatory technical standards that set out conditions for assessment of homogeneity of the underlying exposures in simple, transparent, and standardized (STS) securitizations.

    February 21, 2023 WebPage Regulatory News
    News

    FSB Publishes Letter to G20, Sets Out Work Priorities for 2023

    The Financial Stability Board (FSB) published a letter intended for the G20 Finance Ministers and Central Bank Governors, highlighting the work that FSB will take forward under the Indian G20 Presidency in 2023

    February 20, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8793