OJK Brings KPMM Provisions into Line with International Standards

In an attempt to bring Indonesian law into line with international standards and to deepen the country’s financial markets, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has issued Regulation No. 27 of 2022 (“Second Amendment”), which further amends Regulation of the OJK No. 11/POJK.03/2016 on Mandatory Minimum-Capital Requirements for Commercial Banks (“Regulation 11/2016”). Prior to the issuance of the Second Amendment, Regulation 11/2016 was also previously amended through the issuance of Regulation of the OJK No. 34/POJK.03/2016 (“First Amendment”).[1]