OJK Reclassifies Commercial Bank Reports

In order to improve the technology-based supervision of the banking sector, which requires the digitalization of reporting methods for certain reports that are still submitted via offline methods,[1] new provisions that address commercial bank reporting through the reporting system of the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) were recently issued through Regulation No. 63/POJK.03/2020 (“Regulation 63/2020”), which simultaneously replaces and repeals Regulation of the OJK No. 12/POJK.03/2019 of 2019 (“Regulation 12/2019”).[2]