The Indonesia Deposit Insurance Corporation (Lembaga Penjamin Simpanan– “ LPS ”) has updated provisions on bank liquidation through the issuance of Regulation No. 1 of 2022 (“ Regulation 1/2022 ”). As such, Regulation of the LPS No. 1/PLPS/2011 of 2011 and its amendment, which bore the same title (collectively referred to as “ Regulation 1/2011 ”), which stood as the previous legal framework regarding these matters, has now been replaced and repealed. [1]
LPS Sets Updated Bank Liquidation Procedure
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