November 29, 2018

The OJK Chairman Wimboh Santoso participated as a panelist at the 20th International Conference of Banking Supervisors (ICBS) on Navigating the Post- Basel III Banking System. He highlighted that national banks in the country are in good condition and ready to implement the continuation of Basel III standards. He also mentioned that banks are well-capitalized, with the capital adequacy ratio (CAR) reaching 23% and dominated by core capital.

Mr. Santoso explained that the implementation of Basel III would be proportional to the conditions of the national banking system. Unlike Basel I and II, which are being applied in all commercial banks, several Basel III standards are only applied to certain bank groups. He also said that BCBS must begin to pay attention to the risks that can arise from the development of fintech. He shared experiences on how Indonesia has responded to the development of fintech in the country. He added that Indonesia has set up a regulatory umbrella to mitigate potential risks, such as cyber risk, money laundering, and terrorist funding, and to promote adequate market conduct to protect consumers.

ICBS, which was attended by more than 200 participants from more than 100 countries, was held to build cooperation among the international financial sector supervisory authorities.

 

Related Link (in Indonesian): Press Release

Keywords: Asia Pacific, Indonesia, Banking, Basel III, CAR, Fintech, Proportionality, OJK

Related Articles
News

EC Amends Regulation Supplementing Solvency II Directive

EC published the Delegated Regulation (EU) 2019/981 that amends the Regulation (EU) 2015/35, which supplements Solvency II Directive (2009/138/EC) on the taking-up and pursuit of the business of insurance and reinsurance.

June 18, 2019 WebPage Regulatory News
News

IOSCO Report Examines Application of International Cyber Standards

IOSCO published a final report that examines the application of the three internationally recognized cyber standards and frameworks by IOSCO member jurisdictions.

June 18, 2019 WebPage Regulatory News
News

PRA Launches 2019 Stress Test Exercise for Life and General Insurers

PRA has launched the biennial insurance stress test and is asking the largest regulated life and general insurers to provide information about the impact of a range of stress tests on their business.

June 18, 2019 WebPage Regulatory News
News

PRA Finalizes Reporting Amendments to Pillar 2 Liquidity Framework

PRA published the final Policy Statement PS13/19 on regulatory reporting amendments and clarifications to the Pillar 2 liquidity framework for banks in UK.

June 17, 2019 WebPage Regulatory News
News

FSB Assesses Implementation of Compensation Standards and Principles

FSB published the sixth progress report on the implementation of its principles and standards for sound compensation practices in financial institutions.

June 17, 2019 WebPage Regulatory News
News

IMF Publishes Reports on 2019 Article IV Consultation with Ireland

IMF published its staff report and selected issues report under the 2019 Article IV consultation with Ireland.

June 17, 2019 WebPage Regulatory News
News

EBA Updates Data on Deposit Guarantee Schemes in EU

EBA published the 2018 data on two key concepts in the Deposit Guarantee Schemes Directive (DGSD)—namely, available financial means and covered deposits.

June 17, 2019 WebPage Regulatory News
News

SNB Updates Form for Reporting Solvency Risk of Counterparties

SNB published the survey (Form Release 5.01) and related documentation for reporting solvency risk of counterparties in the interbank sector (ARIS).

June 17, 2019 WebPage Regulatory News
News

ISDA Studies Variation in Global Implementation of Margin Requirements

ISDA published a paper that highlights the main areas of difference in the implementation of margin requirements for non-cleared derivatives across jurisdictions and makes recommendations on how to resolve these variations.

June 17, 2019 WebPage Regulatory News
News

US Agencies Finalize Rule to Streamline Reporting for Small Banks

US Agencies (FDIC, FED, and OCC) adopted a final rule to streamline the regulatory reporting requirements for small institutions.

June 17, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3265