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OJK increases number of systemic banks
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The Financial Services Authority (OJK) office in Jakarta. (kontan.co.id/File)
T
he Financial Services Authority (OJK) has increased the number of systemically important banks to 15 from 11, OJK head Wimboh Santoso said on Monday.
Banks are included on the systemic list if they fulfill requirements pertaining to asset value, third-party funds and interconnectivity with other financial services, such as interbank loans and stock ownership in other financial companies.
"We updated the systemic banks in April. […]. We saw improvements [in the newly listed banks] such as in their size and interconnectivity," he said during a press conference of the Financial System Stability Committee (KSSK) at Bank Indonesia (BI) in Jakarta on Monday.
The OJK updates the list of systemic banks every April and September.
Wimboh said the systemic banks were required to have a mitigation plan to prevent crisis and to gradually fulfill capital surcharges.
“The newly listed banks have to fulfill the capital surcharge. They can do it gradually. There is no problem with that," he said. (bbn)
