OJK Amends Provisions on Countercyclical Policy for Non-Bank Financial Services Institutions

Through the issuance of Regulation No. 14/POJK.05/ 2020 (“ Regulation 14/2020 ”), [1] the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) introduced a number of countercyclical policies aimed at optimizing the performance of non-bank financial services institutions (lembaga jasa keuangan non-bank– “ LJKNB ”) in an attempt to ensure the overall stability of the financial system as the country battles the impacts of the ongoing Coronavirus Disease 2019 (“ COVID-19 ”) pandemic. [2]