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Amendments to BI Regulations on Further Supervisory Actions and Confirmation of the Status of Banks

In order to secure Indonesian economy in the face of a global financial crisis, BI has issued Regulation No. 10/27/PBI/2008 to amend BI Regulation No. 6/9/PBI/2004. The amendment inserts an additional paragraph to Article 9 of the original Regulation that provides discretion to BI to not make any public pronouncements relating to matters contained in paragraph (1) - (3) of Article 9 if it determined that any announcement would not be in the public interest. Public interest is further defined as anything that would cause panic in the community that is likely to further exacerbate the financial crisis and result in greater instability in the Indonesian financial system.  This regulation has been in force since 30 October 2008.

Source: www.hukumonline.com, ILB 17/11/2008: Amendments to BI Regulations on Further Supervisory Actions and Confirmation of the Status of Banks

[Last update: 2009-03-06 15:37:32]

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