The head of Indonesia's Deposit Insurance Corp has said that local regulators are currently working on a definitive list of which banks are deemed to be systematically important to the country, with a view to strengthening regulations and legislation, aimed at preventing bank collapses. In an interview with Reuters, Muhammad Syaugi told Reuters he was confident Indonesia would avoid another financial crisis.
The head of Indonesia's Deposit Insurance Corp has said that local regulators are currently working on a definitive list of which banks are deemed to be systematically important to the country, with a view to strengthening regulations and legislation, aimed at preventing bank collapses. This move comes amidst growing concern about the slowdown in emerging markets and continuing pressure from global regulators to strengthen bank balance sheets.