LPS' OJK Updates Instructions For Implementation Of Data Exchange And Guarantee Information As Well As Bank Resolution

Cooperation (Photo: dock. Unsplash)

JAKARTA - The Deposit Insurance Corporation (LPS) and the Financial Services Authority signed the Implementation Guidelines (Juklak) for Data and/or Information in the Banking Sector. The signing of this juklak is intended to strengthen the coordination and supervision of bank guarantees and resolutions.

"Through this Juklak, efficiency and synergy are created in the exchange of data and information in the banking sector that is more open. Thus, the goal of creating a solid, stable, and reliable banking and financial system can be achieved together," said a member of the LPS Board of Commissioners - Bank Guarantee and Resolution Program Division, Didik Madiyono in a statement to the media, Tuesday, December 24.

He explained that this juklak was prepared by the OJK and LPS teams through a long series of processes from June to December 2024, involving various work units both at the OJK and at the LPS.

Juklak ini dilihat sangat penting sebab pada saat yang sama baik LPS dan OJK berada pada fase transisi proses bisnis dan tahap pengusunan berbagai peraturan turunan PP, POJK, dan PLPS pemintah Undang-Undang Pembangunan dan Penguatan Sektor Keuangan No. 4 Tahun 2023 (UUP2SK).

Furthermore, the presence of this juklak is becoming increasingly important, given the expansion of duties and functions in each institution in accordance with the mandate of the P2SK Law. This expansion demands more intensive coordination between the two institutions, not only related to the banking sector, but also in a broader context to maintain the stability of the national financial system.

In addition, this juklak is also part of the follow-up to the cooperation between OJK and LPS as stated in the Memorandum of Understanding on Coordination and Cooperation in the Context of Implementing Functions and Duties of the Financial Services Authority and Deposit Insurance Corporations.

Hopefully this moment will become the basis for strengthening sustainable synergy in facing the challenges of the financial sector in the future. As a step forward, we need to continue to strengthen various other aspects of coordination and cooperation between OJK and LPS. It is hoped that this collaboration will provide benefits for the banking and financial sectors as well as the progress of our economy," said Didik.