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Wednesday, January 1, 2014

BI official switch to FSA supervisory functions


BI official switch to FSA supervisory functions


Bank Indonesia ( BI ) officially transferred the functions of regulation and supervision of individual banks ( mikroprudensial ) to the Financial Services Authority ( FSA ) , which is marked by the signing of the Handover .

Signing Handover transfer of regulatory functions and settings of BI to the FSA carried out by central bank governor Agustin Martowardojo and Chairman of the Board D Hadad Hadad FSA on Tuesday .

In that event , the central bank also handed Implementation Task Book Report of Bank Indonesia in the field of regulation , licensing and supervision of banks as a description of the implementation of the functions and duties of supervision to the FSA .

Agus Martowardojo bank governor said in his speech , BI has moved the bank supervision function ( mikroprudensial ) to the FSA in a healthy banking system with precise rules .

" BI and the FSA will continue to cooperate and coordinate so that the right balance will be obtained , linked between macroprudential policy mix and mikroprudensial to maintain the stability of the financial system , " he said .

Agus also expects 1,150 employees BI is a mandate to serve in the FSA , may carry an obligation to oversee the financial services system and works well with the full spirit of professionalism .

"The Act establishes the BI personnel stationed there in FSA , and no later than the end of 2015 , so they are given the opportunity to join the FSA or go back to BI . Hopefully they can develop a good career in the FSA , " he said , hoping .

Meanwhile , Chairman of the Board D Hadad Hadad FSA adding customers do not have to worry about the process of obtaining regulatory and supervisory functions to the FSA , because business processes in banks continues to run as it should .

" Business processes in the bank is still running as usual and the public, especially customers can conduct transactions such as banking supervision BI , " he said .

Hadad said the transfer function through the regulation and supervision of banks to FSA supervision of the functioning of financial institutions will be more integrated manner , in order to support the stability and robustness of the financial system .

" Supervision and there will be more integrated education done with the banking industry , because of the development of the banking group is currently quite rapidly and about 70 percent of the assets of the financial industry are intertwined , this requires special attention , " he said .

To that end , Hadad said the FSA will issue a new regulation as risk management , to oversee the activities of the banking group 's subsidiary and continue to communicate and discuss current issues related to the banking industry .

" We will do socialization and communication related this guideline . Moreover , communication with the government and financial services is also important to address the issue , including setting affects banks become systemic responses and focus together , " he said .

Previously , the transfer function of the regulation and supervision of banks has been marked by the establishment of the FSA in the BI Task Force and Transfer of Function Transition Team at the FSA Supervision Bank since the beginning of 2013 , to oversee the transfer of human resources , data, documents and information systems as well as the use of BI building FSA office .

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