BI Simplifies Reporting System for Commercial Banks

In an attempt to lighten the burden placed upon banks with respect to the submission of reports, as well to improve the quality of reported data and overall reporting efficiency, Bank Indonesia (“ BI ”) has developed an integrated, metadata-based reporting system for commercial banks in coordination with the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) and the Indonesian Deposit Insurance Corporation (Lembaga Penjamin Simpanan– “ LPS ”). [1]