Ready, Set, Submit: Compliance Self-Assessment Reports Must Be Submitted by Banks Participating in the Deposit Insurance Program by 30 June 2025

In an effort to support the implementation of customer deposit insurance and bank handling, the Deposit Insurance Corporation (Lembaga Penjamin Simpanan – “LPS”) has issued Regulation No. 3 of 2024 on Reporting by Banks Participating in the Deposit Insurance Program (“Regulation 3/2024”), which has been forced since 16 October 2024.[1] In essence, Regulation 3/2024 has now repealed and replaced the following two frameworks, which are deemed no longer relevant to current requirements and conditions within the banking sector and which have now had their applicable sanction provisions revised:[2]