Obligatory Submission of Resolution Plans by Commercial Banks Finally Regulated

In an attempt to improve the effectiveness of the handling and settlement of any bank failures, the Indonesian Deposit Insurance Corporation (Lembaga Penjamin Simpanan– “ LPS ”) has issued Regulation No. 1 of 2021 on Resolution Plans for Commercial Banks (“ Regulation 1/2021 ”), which requires all systemic banks and non-systemic banks appointed by the LPS (collectively referred to as “ Banks ”) to prepare and submit resolution plans to the LPS. [1]