OJK Reclassifies Commercial Bank Reports

In order to improve the technology-based supervision of the banking sector, which requires the digitalization of reporting methods for certain reports that are still submitted via offline methods, [1] new provisions that address commercial bank reporting through the reporting system of the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) were recently issued through Regulation No. 63/POJK.03/2020 (“ Regulation 63/2020 ”), which simultaneously replaces and repeals Regulation of the OJK No. 12/POJK.03/2019 of 2019 (“ Regulation 12/2019 ”). [2]