Regulatory Alerts2025-11-19
Added · Updated
OJK Circular No. 27/SEOJK.03/2025 on Credit Rating Agencies and Recognized Ratings
This circular establishes provisions for credit rating agencies and recognized ratings, replacing OJK Circular No. 37/SEOJK.03/2016. It refines the assessment criteria for rating agencies, including objectivity, independence, transparency, public disclosure, resources, and credibility, and outlines direct and indirect recognition processes. The circular requires rating agencies to map rating categories to credit risk weights based on international standards and maintain a public website. It also details the process for updating the list of recognized rating agencies and the conditions for their removal, while requiring banks to remain responsible for their own assessment of rated exposures. This circular is effective from November 19, 2025.
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