No country on earth is safe from the potential threat of financial or economic crises. Indeed, even if a country has undertaken all of the necessary planning required in order to ensure national economic stability, financial and economic crises can still be triggered as a result of various external factors, including the economic instability of other countries. Therefore, in order to stave off or survive the impact of any potential crisis, countries require strong economic performance. One of the main ways of achieving this is to strengthen the supervision of banks’ soundness levels, which ultimately become the main foundations of a country’s economic prospects.
 
In light of the importance of planning as regards overcoming any potential threat of financial or economic crisis, Indonesia's House of Representatives (“House”) finally issued Law No. 9 of 2016 on the Prevention and Control of Financial-System Crises (“Financial-Crisis Law”)[1] last year. The Financial-Crisis Law sets out a number of provisions which address the supervision of banks. More recently, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) finally issued three implementing regulations for this law, specifically: