Inflation Control and Financial Facilities Strategy
Stimuli to Support Indonesia's Financial Industry
OJK and other government institutions have worked intensively to minimize the impact of COVID-19 on the
economy
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Maintaining business fundamental of the real
BANN
secto JK Regulation No. 11/POJK.03/2020:
Bank
NBFI
"National Economic Stimulus as A
Countercyclical Policy of The Impacts of
COVID-19 Outbreak"
Relaxation of credit assessment and credit restructuring to
debtors who are affected by COVID-19.
Credit assessment (up to IDR10 billion) is based only
on the punctuality of debtors to pay their debts and
interests.
This applies to Commercial and Sharia Banks
With maximum 1 year period of credit restructuring
*) OJK Regulation No.18/POJK.03/2020:
"Written Orders to Handle Bank Problems"
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merger,
Stabilizing financial sector particularly in banking sector
amid COVID-19 outbreak by allowing
consolidation, acquisition, and/or integration to banks
permitted by OJK.
*) OJK Regulation No. 14/POJK.05/2020:
"Countercyclical Policy as an Impact of
COVID-19 for Non-Bank Financial Institution
Extendedadline of report submission
Relaxation of financing assessment
Financing Restructuring
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Regulating loan restructuring, deadline of periodic
reports,
Conducting fit and proper tests,
Determination of asset quality of financing,
Calculation of solvency level of insurance companies,
Calculation of pension fund quality, and
Implementation of asset management provisions.
Source: Financial Service Authority (OJK)
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Maintaining financial market stability
OJK Circular Letter No. 3/SEOJK.04/2020:
"Other Conditions as Significantly Fluctuating Market
Condition on Stock Buyback issued by Issuers or Public
Companies"
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Prohibition of short-selling
Asymmetric Auto Rejection (current auto rejection limits
under 7%)
30-minute Trading Halt for 5% decrease in IHSG
Negation of trade in the pre-opening session
Stock buyback without prior general shareholders meeting
*) OJK Regulation No.15/POJK.04/2020:
"Plan and Organization of the General Meeting of Shareholders of
Public Companies"
Aimed to enhance the participation of shareholders in General
Shareholders Meeting (RUPS) by allowing electronic authorization
to third parties.
*) OJK Regulation No.16/POJK.04/2020:
"The Implementation of Electronic General Shareholders Meeting
(Glating the implementation of electronic corporate decision
making by requiring a member of the board
director/commissioner in charge of GSM, while other electronic
attendances are counted as fulfillment of attendance quorum.
*) OJK Regulation No.17/POJK.04/2020:
Material Transaction and Changes in Business Activities "
Improving the definition and procedure of Material Transaction,
as well as the effectiveness of regulation to enhance the
protection of public shareholders and the quality of information
disclosure in Material Transaction and Business Activities
Changes.
*) OJK Regulations in Response to Government Regulation in Lieu of Law No. 1 Year 2020 to maintain financial stability and
economic activities.
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