Bank Indonesia revises the single presence policy for banks – Implications for the banking sector


Background -

On 26 December 2012 (the “Effective Date”), Bank Indonesia (“BI”) published Regulation No. 14/24/PBI/2012 (“Regulation 14”) which contains a revised version of the single presence policy applicable to banks (the “Policy”). Regulation 14 has been much anticipated by market participants. It amends and supersedes the previous version of the Policy which was issued by BI in 2006.

Regulation 14, along with recent initiatives introduced by BI, is also a response to the ASEAN financial integration plan that was launched at the end of last year. The plan aims to increase the resilience and competitiveness of national banking systems in the region through the accelerated consolidation of institutions and improvements in the standards of governance and financial health of banks. Qualifying banks under the plan will be accorded more flexible access to the regional markets.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© White & Case LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.