OJK Introduces Provisions on the Stipulation of Supervision Status and Follow-Up Measures for Commercial Banks

In order to improve the supervision of commercial banks while also adjusting to the new provisions which are set out under Law No. 9 of 2016 on the Prevention and Control of Financial-System Crises, [1] the Financial Services Authority (Otoritas Jasa Keuangan– “OJK”) has issued Regulation No. 15/POJK.03/2017 on the Stipulation of Status and Follow-Up Supervision for Commercial Banks (“Regulation 15/2017”). [2] With these two goals in mind, Regulation 15/2017 updates guidelines for the supervision of commercial banks, which were previously regulated under the following regulations (collectively referred to as “Former Regulations”):