BI will publicize information regarding the provision of incentives to Banks during the March 2023 period by no later than early March 2023 and for the April 2023 - May 2023 period by no later than early April 2023

Inspections should be carried out through a sampling method that represents the spread of population as it relates to a Bank's internal policies, while said Inspections should also be drafted into reports. Inspections cover the following objects: 1) SCV Data quality; and 2) Reliability of Banks' systems. The results of the above Inspections should also be drafted into Inspection conclusions that should address the overall impact on Bank deposits and whether they should be guaranteed or not by the Deposit Insurance Corporation

The OJK has adjusted several provisions that relate to the marketing of insurance products through cooperation with commercial banks

The opening and closing of BI checking accounts, as well as any changes that are made to such accounts will all be completed through the Licensing Front Office, as provided through the BI Service App

Generally speaking, this legal framework addresses various aspects that relate to the organization of cyber defense and security by Banks, including the following areas: 1) Inherent risk assessment; 2) Implementation of risk management in relation to cyber security; 3) Cyber defense processes; 4) Assessments of cyber security maturity levels; 5) Cyber security risk levels; 6) Cyber security testing; 7) Cyber defense or security units and functions; 8) Procedures for the filing of cyber incident reports

Commencing 1 January 2024, all Banks must calculate their risk-weighted assets for market risks

SDM working at commercial banks are required to secure Risk Management Certificates (SMR) whenever they occupy SDM positions. In this regard, the following parties are now obliged to secure SMR: 1) Members of boards of directors; 2) Members of boards of commissioners; 3) Executive officials; and 4) Non-executive officials

Various aspects and requirements have been determined in relation to the above matters and include the following: 1) Availability of SDM directors; 2) Mandatory funding; 3) Optional provision of outsourcing; 4) Involvement of SDM in competence development programs; and 5) Identification and determination of critical functions and positions

The types of financial services companies which can receive Capital Participation break down as follows: 1) Financial services institutions; 2) Companies that utilize information technology in order to produce financial products as their main business; 3) Credit information management institutions

When the Draft Circular comes into force, commercial banks will be required to carry out annual assessments of any inherent risks that relate to cyber security for the latest positions for December, which should encompass the following aspects: 1) Technology; 2) Banking products; 3) Organizational characteristics; and 4) Cyber incident track records