Regulation of the Financial Services Authority of the Republic of Indonesia Number 14/POJK.05/2020 on Countercyclical Policy Regarding the Impact of the Spread of Coronavirus Disease 2019 for Nonbank Financial Service Institutions

FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA
COPY
REGULATION OF THE FINANCIAL SERVICES AUTHORITY OF THE REPUBLIC OF INDONESIA NUMBER 14/POJK.05/2020 ON COUNTERCYCLICAL POLICY REGARDING THE IMPACT OF THE SPREAD OF CORONAVIRUS DISEASE 2019 FOR NONBANK FINANCIAL SERVICE INSTITUTIONS BY THE GRACE OF THE ALMIGHTY GOD, THE COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY, Considering:
a. that the global spread of coronavirus disease 2019 (COVID-19) has directly or indirectly impacted the performance and operational capacity of consumers and nonbank financial service institutions, potentially disrupting the performance of nonbank financial service institutions and the stability of the financial system, thereby affecting economic growth; b. that to encourage the optimal performance of nonbank financial service institutions, maintain financial system stability, and support economic growth, it is necessary to implement countercyclical policies regarding the impact of the spread of COVID-19 while still observing the principle of prudence;
c. that based on the considerations referred to in letters a and b, it is necessary to establish a Regulation of the Financial Services Authority on Countercyclical Policy Regarding the Impact of the Spread of Coronavirus Disease 2019 for Nonbank Financial Service Institutions;

Recalling:

1. Law Number 11 of 1992 concerning Pension Funds (State Gazette of the Republic of Indonesia Year 1992 Number 37, Supplement to the State Gazette of the Republic of Indonesia Number 3477);
2. Law Number 2 of 2009 concerning the Indonesian Export Financing Agency (State Gazette of the Republic of Indonesia Year 2009 Number 2, Supplement to the State Gazette of the Republic of Indonesia Number 4957);
3. Law Number 21 of 2011 concerning the Financial Services Authority (State Gazette of the Republic of Indonesia Year 2011 Number 111, Supplement to the State Gazette of the Republic of Indonesia Number 5253);
4. Law Number 24 of 2011 concerning Social Security Administration Agencies (State Gazette of the Republic of Indonesia Year 2011 Number 116, Supplement to the State Gazette of the Republic of Indonesia Number 5256);
5. Law Number 40 of 2014 concerning Insurance (State Gazette of the Republic of Indonesia Year 2014 Number 337, Supplement to the State Gazette of the Republic of Indonesia Number 5618);
6. Law Number 1 of 2016 concerning Guarantees (State Gazette of the Republic of Indonesia Year 2016 Number 9, Supplement to the State Gazette of the Republic of Indonesia Number 5835);

DECIDING:
Establishing: A REGULATION OF THE FINANCIAL SERVICES AUTHORITY ON COUNTERCYCLICAL POLICY REGARDING THE IMPACT OF THE SPREAD OF CORONAVIRUS DISEASE 2019 FOR NONBANK FINANCIAL SERVICE INSTITUTIONS.

CHAPTER I
GENERAL PROVISIONS
Article 1
In this Regulation of the Financial Services Authority, the following terms are defined as:

1. Nonbank Financial Service Institutions, hereinafter referred to as LJKNB, are institutions that conduct activities in the insurance sector, pension funds, financing institutions, and other financial service institutions.
2. Financing is all forms of providing facilities for the provision of funds or claims that can be equated with them based on an agreement or consensus between LJKNB and the debtor, including those conducted based on Sharia principles.
3. Debtor is a business entity or individual who receives Financing from LJKNB.
4. Permitted Assets are assets that are calculated in the solvency ratio calculation for insurance companies, Sharia insurance companies, reinsurance companies, and Sharia reinsurance companies.

Article 2
LJKNB includes:

1. insurance companies, consisting of:
   a. insurance companies; b. reinsurance companies;
   c. Sharia insurance companies;
   d. Sharia reinsurance companies; e. insurance brokerage companies; f. reinsurance brokerage companies; and g. insurance loss assessors, as referred to in regulations concerning insurance;
2. pension funds as referred to in regulations concerning pension funds;
3. financing institutions, consisting of:
   a. financing companies; b. Sharia financing companies;
   c. venture capital companies;
   d. Sharia venture capital companies; and e. infrastructure financing companies, as referred to in regulations concerning financing institutions; and
4. other financial service institutions, consisting of:
   a. pawnshop companies as referred to in regulations concerning pawnshops; b. guarantee institutions, consisting of:

1. guarantee companies;
2. Sharia guarantee companies;
3. re-guarantee companies; and
4. Sharia re-guarantee companies,
   as referred to in regulations concerning guarantees;
   c. Indonesian export financing institutions as referred to in regulations concerning Indonesian export financing institutions;
   d. secondary housing financing companies as referred to in regulations concerning secondary housing financing companies; e. social security administration agencies as referred to in regulations concerning social security administration agencies; and f. PT Permodalan Nasional Madani (Persero) as referred to in regulations concerning PT Permodalan Nasional Madani (Persero).

Article 3
(1) Countercyclical policies regarding the impact of the spread of COVID-19 for LJKNB include:
a. deadlines for submitting periodic reports; b. implementation of competence and propriety assessments;
c. determination of asset quality in the form of Financing and restructuring of Financing;
d. calculation of solvency ratios for insurance companies, Sharia insurance companies, reinsurance companies, and Sharia reinsurance companies; e. calculation of funding quality for pension funds implementing defined benefit pension programs; f. implementation of asset management regulations according to participant age groups (life cycle fund) for pension funds implementing defined contribution pension programs; and g. other policies determined by the Financial Services Authority through the Executive Head of Supervision of Insurance, Pension Funds, Financing Institutions, and Other Financial Service Institutions. (2) The implementation of countercyclical policies as referred to in paragraph (1) is carried out while still observing the application of the principle of prudence, risk management, and good corporate governance. (3) For LJKNB that conduct all or part of their business based on Sharia principles, the implementation of countercyclical policies as referred to in paragraph (1) must be in accordance with Sharia principles. (4) In the event that specific actions are needed regarding supervision of individual LJKNB, the Financial Services Authority may request the individual LJKNB concerned to apply stricter policies than the countercyclical policies as referred to in paragraph (1). (5) In the context of formulating countercyclical policies regarding the impact of the spread of COVID-19 for LJKNB, the Financial Services Authority may request additional data and information from LJKNB outside the reporting as regulated in regulations concerning LJKNB.

CHAPTER II
DEADLINES FOR SUBMITTING PERIODIC REPORTS
Article 4
(1) During the period of the disaster emergency status for the COVID-19 epidemic in Indonesia established by the Government, the deadline for submitting periodic reports submitted by LJKNB to the Financial Services Authority and/or announced or published by LJKNB to the public is extended for:
a. 14 (fourteen) working days from the deadline for the end of the obligation to submit periodic reports submitted monthly and quarterly; b. 1 (one) month from the deadline for the end of the obligation to submit periodic reports submitted semi-annually; and
c. 2 (two) months from the deadline for the end of the obligation to submit periodic reports submitted annually.
(2) If the submission deadline for reports as referred to in paragraph (1) letters b and c falls on a Saturday, Sunday, and/or national holiday, the report is submitted on the next working day.
(3) Periodic reports as referred to in paragraph (1) are submitted through the Financial Services Authority's data communication network system.
(4) The submission of periodic reports as referred to in paragraph (1) for public companies is carried out in accordance with regulations concerning the submission of periodic reports in the capital market sector.

CHAPTER III
IMPLEMENTATION OF COMPETENCE AND PROPRIETY ASSESSMENT
Article 5
(1) The implementation of presentations, explanations, and clarifications in the competence and propriety assessment process for prospective principal parties of LJKNB is conducted through:
a. direct face-to-face meetings at the Financial Services Authority office or other locations designated by the Financial Services Authority; or b. face-to-face meetings via video conference media. (2) The implementation of presentations, explanations, and clarifications via face-to-face meetings using video conference media as referred to in paragraph (1) letter b must be accompanied by a statement letter from the director or equivalent who oversees the compliance function. (3) Presentations, explanations, and clarifications via face-to-face meetings using video conference media as referred to in paragraph (1) letter b are only implemented in the context of competence and propriety assessments for:
a. prospective principal parties not nominated by LJKNB currently subject to sanctions of suspension of business activities or restriction of business activities; b. prospective principal parties not indicated to have violated the principle of prudence in the financial services sector;
c. prospective principal parties not indicated to have committed acts providing unfair benefits to shareholders, principal parties, employees, and/or other parties that could harm or reduce the rights of creditors, debtors, policyholders, insured parties, participants, guarantee recipients, and/or other consumers;
d. prospective principal parties who have never been declared not approved to become principal parties due to not meeting integrity requirements; and/or e. prospective principal parties meeting criteria other than those referred to in letters a through d established by the Financial Services Authority.

Article 6
Regulations regarding the need for clarification in the implementation of competence and propriety assessments based on the experience of prospective principal parties of LJKNB other than prospective controlling shareholders of LJKNB and prospective controllers of insurance companies are implemented in accordance with the criteria in Appendix I, which is an integral part of this Regulation of the Financial Services Authority.

Article 7
Regulations regarding:
a. the implementation of presentations, explanations, and clarifications via face-to-face meetings using video conference media as referred to in Article 5 paragraph (1) letter b; and b. the criteria for the need for clarification in the implementation of competence and propriety assessments for prospective principal parties of LJKNB other than prospective controlling shareholders of LJKNB and prospective controllers of insurance companies as referred to in Article 6, are valid during the period of the disaster emergency status for the COVID-19 epidemic established by the Government.

CHAPTER IV
DETERMINATION OF ASSET QUALITY IN THE FORM OF FINANCING AND RESTRUCTURING OF FINANCING
Article 8
(1) The determination of asset quality in the form of Financing for Debtors affected by the spread of COVID-19 with a financing ceiling of up to IDR 10,000,000,000.00 (ten billion rupiah) can be based on the punctuality of principal and/or interest or margin/profit-sharing/ujrah payments. (2) The technical assessment of asset quality in the form of Financing as referred to in paragraph (1) is carried out in accordance with the regulations of the Financial Services Authority governing the assessment of asset quality for each LJKNB and its implementing regulations. (3) The financing ceiling as referred to in paragraph (1) applies to 1 (one) Debtor or 1 (one) project of the same nature.

Article 9
(1) LJKNB may conduct financing restructuring for Debtors affected by the spread of COVID-19.
(2) Financing restructuring as referred to in paragraph (1) is carried out by considering at least:
a. the existence of a financing restructuring process and policy for Debtors from fund providers signed by authorized officials, in the event that financing is conducted through joint financing and channeling financing; b. the existence of a financing restructuring request from Debtors affected by the spread of COVID-19; and/or
c. the existence of a feasibility assessment of restructuring from LJKNB.
(3) Asset quality in the form of Financing for Debtors affected by the spread of COVID-19 that are restructured is determined as "current" since the restructuring was carried out.
(4) Financing restructuring for Debtors affected by the spread of COVID-19 as referred to in paragraph (1) can be conducted for Financing provided before or after the Debtor was affected by the spread of COVID-19. (5) Regulations regarding asset quality in the form of Financing for Debtors affected by the spread of COVID-19 that are restructured as referred to in paragraph (3) apply to Financing that meets the following requirements:
a. provided to Debtors affected by the spread of COVID-19; and b. restructured after the Debtor was affected by the spread of COVID-19.

Article 10
(1) LJKNB may provide new Financing to Debtors affected by the spread of COVID-19.
(2) The provision of new Financing to Debtors affected by the spread of COVID-19 as referred to in paragraph (1) must be conducted based on adequate financing analysis so as to provide assurance of the Debtor's good faith, ability, and capacity to repay the financing in accordance with the agreement. (3) The determination of asset quality in the form of new Financing as referred to in paragraph (1) is conducted separately from the asset quality of Financing previously provided. (4) The determination of asset quality in the form of new Financing as referred to in paragraph (3) is conducted with the following regulations:
a. for new Financing with a financing ceiling of up to IDR 10,000,000,000.00 (ten billion rupiah), the determination of asset quality in the form of Financing as referred to in Article 8 paragraph (1) applies; and b. for new Financing with a financing ceiling exceeding IDR 10,000,000,000.00 (ten billion rupiah), the determination of asset quality in the form of Financing in accordance with the regulations of the Financial Services Authority governing the assessment of asset quality and its implementing regulations applies.

Article 11
(1) LJKNB applying specific policies to Debtors affected by the spread of COVID-19 as referred to in Articles 8 through 10 must have policies regarding the determination of Debtors affected by the spread of COVID-19. (2) Policies regarding the determination of Debtors affected by the spread of COVID-19 as referred to in paragraph (1) are established in guidelines signed by the board of directors or equivalent. (3) Guidelines for determining Debtors affected by the spread of COVID-19 as referred to in paragraph (2) must contain at least:
a. criteria for Debtors determined to be affected by the spread of COVID-19; and b. economic sectors affected by the spread of COVID-19.

Article 12
(1) LJKNB that determine asset quality in the form of Financing solely based on the punctuality of principal and/or interest or margin/profit-sharing/ujrah payments as referred to in Article 8 paragraph (1) and Article 10 paragraph (4) letter a submit reports on Financing assessed based on punctuality of payments. (2) LJKNB that conduct financing restructuring as referred to in Article 9 paragraph (1) submit reports on restructured Financing. (3) LJKNB compile reports as referred to in paragraph (1) and paragraph (2) in accordance with the format in Appendix II, which is an integral part of this Regulation of the Financial Services Authority.

Article 13
(1) LJKNB submit reports as referred to in Article 12 paragraph (1) and paragraph (2) based on the end-of-month position through the Financial Services Authority's data communication network system to the Financial Services Authority for the end-of-month positions of June 2020, September 2020, December 2020, and March 2021. (2) Submission of reports through the Financial Services Authority's data communication network system as referred to in paragraph (1) is submitted no later than the end of the following month after the reporting month position. (3) If the submission deadline for reports as referred to in paragraph (2) falls on a Saturday, Sunday, and/or national holiday, the report is submitted on the next working day.

Article 14
The application of regulations regarding:
a. the determination of asset quality in the form of Financing as referred to in Article 8; b. financing restructuring as referred to in Article 9; and
c. the provision of new Financing as referred to in Article 10,
for Debtors affected by the spread of COVID-19 is valid for 1 (one) year.

CHAPTER V
CALCULATION OF SOLVENCY RATIOS FOR INSURANCE COMPANIES, SHARIA INSURANCE COMPANIES, REINSURANCE COMPANIES, AND SHARIA REINSURANCE COMPANIES
Article 15
(1) In the calculation of solvency ratios, the assessment of Permitted Assets in the form of investments for insurance companies, Sharia insurance companies, reinsurance companies, and Sharia reinsurance companies, consisting of:
a. corporate bonds listed on the stock exchange; b. sukuk or Sharia bonds listed on the stock exchange;
c. securities issued by the Republic of Indonesia; and
d. Sharia securities issued by the Republic of Indonesia, can be assessed based on amortized acquisition value.
(2) In the event that insurance companies, Sharia insurance companies, reinsurance companies, and Sharia reinsurance companies assess Permitted Assets in the form of investments as referred to in paragraph (1), the assessment applies to all investments as referred to in paragraph (1) letters a through d owned by insurance companies, Sharia insurance companies, reinsurance companies, and Sharia reinsurance companies.

Article 16
(1) Limitations on Permitted Assets in the form of non-investments in the form of premium receivables for insurance companies and reinsurance companies are conducted with the following regulations:
a. direct closing premium receivables including co-insurance premium receivables that are part of insurance companies and reinsurance companies, with an aging of the receivables of up to 4 (four) months calculated from the date:

1. coverage begins for policies with single premium payments; or
2. the due date of premium payments for policies with installment premium payments; and
   b. reinsurance premium receivables, with an aging of the receivables of up to 4 (four) months calculated from the due date of payment.
   (2) Limitations on Permitted Assets in the form of non-investments in the form of contribution receivables for Sharia insurance companies and Sharia units in insurance companies, as well as Sharia reinsurance companies and Sharia units in reinsurance companies, are conducted with the following regulations:
   a. tabarru’ contribution and direct closing ujrah receivables, including co-insurance contribution receivables that are part of Sharia insurance companies and Sharia units in insurance companies, as well as Sharia reinsurance companies and Sharia units in reinsurance companies, with an aging of the receivables of up to 4 (four) months calculated from the date:
3. coverage begins for policies with single contribution payments; or
4. the due date of contribution payments for policies with installment contribution payments; and
   b. reinsurance contribution receivables and reinsurance ujrah receivables, with an aging of the receivables of up to 4 (four) months calculated from the due date of payment.
   (3) Limitations on Permitted Assets in the form of non-investments in the form of premium receivables for insurance companies and reinsurance companies as referred to in paragraph (1) and limitations on Permitted Assets in the form of non-investments in the form of contribution receivables for Sharia insurance companies and Sharia units in insurance companies, as well as Sharia reinsurance companies and Sharia units in reinsurance companies as referred to in paragraph (2) can only be conducted:
   a. in the event that insurance companies, reinsurance companies, Sharia insurance companies, and Sharia reinsurance companies extend the premium or contribution payment deadline to policyholders, participants, or insured parties for 4 (four) months; and b. for premium or contribution receivables due from February 2020.

Article 17
Insurance companies, Sharia insurance companies, reinsurance companies, and Sharia reinsurance companies may calculate the value of assets arising from financing lease contracts as part of Permitted Assets in the form of non-investments up to the value of liabilities arising from financing lease contracts.

Article 18
The application of regulations regarding the calculation of solvency ratios for insurance companies, Sharia insurance companies, reinsurance companies, and Sharia reinsurance companies as referred to in Articles 15 through 17 is valid until December 31, 2020.

CHAPTER VI
CALCULATION OF FUNDING QUALITY FOR PENSION FUNDS IMPLEMENTING DEFINED BENEFIT PENSION PROGRAMS
Article 19
(1) In the calculation of funding quality, the assessment of investments for pension funds implementing defined benefit pension programs consisting of:
a. corporate bonds listed on the stock exchange; b. sukuk or Sharia bonds listed on the stock exchange;
c. securities issued by the Republic of Indonesia; and
d. Sharia securities issued by the Republic of Indonesia, can be assessed based on amortized acquisition value.
(2) In the event that pension funds implementing defined benefit pension programs assess investments as referred to in paragraph (1), the assessment applies to all investments as referred to in paragraph (1) letters a through d owned by the pension fund. (3) Regulations as referred to in paragraph (1) and paragraph (2) only apply to pension funds affected by the spread of COVID-19 and do not cause the funding quality of the pension fund to become higher than the funding quality in the previous actuarial valuation. (4) The application of regulations regarding the calculation of funding quality for pension funds implementing defined benefit pension programs as referred to in paragraph (1) and paragraph (2) is valid until December 31, 2020.

CHAPTER VII
IMPLEMENTATION OF ASSET MANAGEMENT PROVISIONS ACCORDING TO PARTICIPANT AGE GROUP (LIFE CYCLE FUND) FOR PENSION FUNDS THAT ADMINISTER DEFINED CONTRIBUTION PENSION PROGRAMS

Article 20
(1) For pension funds that administer defined contribution pension programs, the implementation of asset management according to participant age groups (life cycle fund) for participants who have reached an age of at most 5 (five) years and at shortest 2 (two) years before normal retirement age, may be postponed for a maximum of 1 (one) year. (2) The application of the provisions regarding asset management according to participant age groups (life cycle fund) as referred to in paragraph (1) shall apply until December 31, 2020.

CHAPTER VIII
CLOSING PROVISIONS

Article 21
At the time this Financial Services Authority Regulation comes into force:
a. Financial Services Authority Regulation Number 3/POJK.05/2013 concerning Monthly Reports of Nonbank Financial Institution Services (State Gazette of the Republic of Indonesia Year 2013 Number 150, Supplement to the State Gazette of the Republic of Indonesia Number 5443); b. Financial Services Authority Regulation Number 5/POJK.05/2013 concerning Supervision of Social Security Administration Agencies by the Financial Services Authority (State Gazette of the Republic of Indonesia Year 2013 Number 258, Supplement to the State Gazette of the Republic of Indonesia Number 5487);
c. Financial Services Authority Regulation Number 10/POJK.05/2014 concerning Risk Level Assessment of Nonbank Financial Institution Services (State Gazette of the Republic of Indonesia Year 2014 Number 197, Supplement to the State Gazette of the Republic of Indonesia Number 5575);
d. Financial Services Authority Regulation Number 17/POJK.03/2014 concerning the Application of Integrated Risk Management for Financial Conglomerates (State Gazette of the Republic of Indonesia Year 2014 Number 348, Supplement to the State Gazette of the Republic of Indonesia Number 5626); e. Financial Services Authority Regulation Number 18/POJK.03/2014 concerning the Application of Integrated Corporate Governance for Financial Conglomerates (State Gazette of the Republic of Indonesia Year 2014 Number 349, Supplement to the State Gazette of the Republic of Indonesia Number 5627); f. Financial Services Authority Regulation Number 30/POJK.05/2014 concerning Good Corporate Governance for Financing Companies (State Gazette of the Republic of Indonesia Year 2014 Number 365, Supplement to the State Gazette of the Republic of Indonesia Number 5639); g. Financial Services Authority Regulation Number 1/POJK.05/2015 concerning the Application of Risk Management for Nonbank Financial Institution Services (State Gazette of the Republic of Indonesia Year 2015 Number 69, Supplement to the State Gazette of the Republic of Indonesia Number 5682); h. Financial Services Authority Regulation Number 3/POJK.05/2015 concerning Pension Fund Investments (State Gazette of the Republic of Indonesia Year 2015 Number 82, Supplement to the State Gazette of the Republic of Indonesia Number 5692), as amended by Financial Services Authority Regulation Number 29/POJK.05/2018 concerning Amendments to Financial Services Authority Regulation Number 3/POJK.05/2015 concerning Pension Fund Investments (State Gazette of the Republic of Indonesia Year 2018 Number 245, Supplement to the State Gazette of the Republic of Indonesia Number 6276);
i. Financial Services Authority Regulation Number 26/POJK.03/2015 concerning Integrated Minimum Capital Requirements for Financial Conglomerates (State Gazette of the Republic of Indonesia Year 2015 Number 292, Supplement to the State Gazette of the Republic of Indonesia Number 5774);
j. Financial Services Authority Regulation Number 35/POJK.05/2015 concerning the Business Operations of Venture Capital Companies (State Gazette of the Republic of Indonesia Year 2015 Number 317, Supplement to the State Gazette of the Republic of Indonesia Number 5787); k. Financial Services Authority Regulation Number 36/POJK.05/2015 concerning Good Corporate Governance for Venture Capital Companies (State Gazette of the Republic of Indonesia Year 2015 Number 318, Supplement to the State Gazette of the Republic of Indonesia Number 5788);
l. Financial Services Authority Regulation Number 40/POJK.05/2015 concerning Guidance and Supervision of the Indonesia Export Financing Agency (State Gazette of the Republic of Indonesia Year 2015 Number 321, Supplement to the State Gazette of the Republic of Indonesia Number 5791);
m. Financial Services Authority Regulation Number 27/POJK.03/2016 concerning Competency and Propriety Assessment of Key Parties to Financial Institution Services (State Gazette of the Republic of Indonesia Year 2016 Number 147, Supplement to the State Gazette of the Republic of Indonesia Number 5098); n. Financial Services Authority Regulation Number 31/POJK.05/2016 concerning Pawnshop Business (State Gazette of the Republic of Indonesia Year 2016 Number 152, Supplement to the State Gazette of the Republic of Indonesia Number 5913);

o. Financial Services Authority Regulation Number 71/POJK.05/2016 concerning Financial Health of Insurance Companies and Reinsurance Companies (State Gazette of the Republic of Indonesia Year 2016 Number 304, Supplement to the State Gazette of the Republic of Indonesia Number 5994), as amended by Financial Services Authority Regulation Number 27/POJK.05/2018 concerning Amendments to Financial Services Authority Regulation Number 71/POJK.05/2016 concerning Financial Health of Insurance Companies and Reinsurance Companies (State Gazette of the Republic of Indonesia Year 2018 Number 243, Supplement to the State Gazette of the Republic of Indonesia Number 6274); p. Financial Services Authority Regulation Number 72/POJK.05/2016 concerning Financial Health of Insurance and Reinsurance Companies with Sharia Principles (State Gazette of the Republic of Indonesia Year 2016 Number 305, Supplement to the State Gazette of the Republic of Indonesia Number 5995), as amended by Financial Services Authority Regulation Number 28/POJK.05/2018 concerning Amendments to Financial Services Authority Regulation Number 72/POJK.05/2016 concerning Financial Health of Insurance and Reinsurance Companies with Sharia Principles (State Gazette of the Republic of Indonesia Year 2018 Number 244, Supplement to the State Gazette of the Republic of Indonesia Number 6275); q. Financial Services Authority Regulation Number 76/POJK.07/2016 concerning the Enhancement of Financial Literacy and Financial Inclusion in the Financial Services Sector for Consumers and/or the Public (State Gazette of the Republic of Indonesia Year 2016 Number 315, Supplement to the State Gazette of the Republic of Indonesia Number 6003);

r. Financial Services Authority Regulation Number 2/POJK.05/2017 concerning the Business Operations of Guarantee Institutions (State Gazette of the Republic of Indonesia Year 2017 Number 7, Supplement to the State Gazette of the Republic of Indonesia Number 6014), as amended by Financial Services Authority Regulation Number 30/POJK.05/2018 concerning Amendments to Financial Services Authority Regulation Number 2/POJK.05/2017 concerning the Business Operations of Guarantee Institutions (State Gazette of the Republic of Indonesia Year 2018 Number 246, Supplement to the State Gazette of the Republic of Indonesia Number 6277); s. Financial Services Authority Regulation Number 3/POJK.05/2017 concerning Good Corporate Governance for Guarantee Institutions (State Gazette of the Republic of Indonesia Year 2017 Number 8, Supplement to the State Gazette of the Republic of Indonesia Number 6103); t. Financial Services Authority Regulation Number 5/POJK.05/2017 concerning Contributions, Pension Benefits, and Other Benefits Administered by Pension Funds (State Gazette of the Republic of Indonesia Year 2017 Number 38, Supplement to the State Gazette of the Republic of Indonesia Number 6026); u. Financial Services Authority Regulation Number 12/POJK.01/2017 concerning the Application of Anti-Money Laundering and Counter-Terrorism Financing Programs in the Financial Services Sector (State Gazette of the Republic of Indonesia Year 2017 Number 57, Supplement to the State Gazette of the Republic of Indonesia Number 6035), as amended by Financial Services Authority Regulation Number 23/POJK.01/2019 concerning Amendments to Financial Services Authority Regulation Number 12/POJK.01/2017 concerning the Application of Anti-Money Laundering and Counter-Terrorism Financing Programs in the Financial Services Sector (State Gazette of the Republic of Indonesia Year 2019 Number 178, Supplement to the State Gazette of the Republic of Indonesia Number 6394);

v. Financial Services Authority Regulation Number 13/POJK.03/2017 concerning the Use of Public Accountants and Public Accounting Firms in Financial Services Activities (State Gazette of the Republic of Indonesia Year 2017 Number 62, Supplement to the State Gazette of the Republic of Indonesia Number 6036);
w. Financial Services Authority Regulation Number 51/POJK.03/2017 concerning the Application of Sustainable Finance for Financial Institution Services, Issuers, and Public Companies (State Gazette of the Republic of Indonesia Year 2017 Number 169, Supplement to the State Gazette of the Republic of Indonesia Number 6036);
x. Financial Services Authority Regulation Number 55/POJK.05/2017 concerning Periodic Reports of Insurance Companies (State Gazette of the Republic of Indonesia Year 2017 Number 174, Supplement to the State Gazette of the Republic of Indonesia Number 6107);
y. Financial Services Authority Regulation Number 1/POJK.05/2018 concerning Financial Health for Insurance Companies in the Form of Joint Business Legal Entities (State Gazette of the Republic of Indonesia Year 2018 Number 15, Supplement to the State Gazette of the Republic of Indonesia Number 6183); z. Financial Services Authority Regulation Number 4/POJK.05/2018 concerning Secondary Housing Financing Companies (State Gazette of the Republic of Indonesia Year 2018 Number 40, Supplement to the State Gazette of the Republic of Indonesia Number 6192); aa. Financial Services Authority Regulation Number 5/POJK.05/2018 concerning Periodic Reports of Pension Funds (State Gazette of the Republic of Indonesia Year 2018 Number 45, Supplement to the State Gazette of the Republic of Indonesia Number 6195); bb. Financial Services Authority Regulation Number 8/POJK.05/2018 concerning Pension Fund Financing (State Gazette of the Republic of Indonesia Year 2018 Number 84, Supplement to the State Gazette of the Republic of Indonesia Number 6212);
cc. Financial Services Authority Regulation Number 18/POJK.07/2018 concerning Consumer Complaint Services in the Financial Services Sector (State Gazette of the Republic of Indonesia Year 2018 Number 151, Supplement to the State Gazette of the Republic of Indonesia Number 6246);
dd. Financial Services Authority Regulation Number 35/POJK.05/2018 concerning the Business Operations of Financing Companies (State Gazette of the Republic of Indonesia Year 2018 Number 260, Supplement to the State Gazette of the Republic of Indonesia Number 6286); ee. Financial Services Authority Regulation Number 10/POJK.05/2019 concerning the Business Operations of Sharia Financing Companies and Sharia Business Units of Financing Companies (State Gazette of the Republic of Indonesia Year 2019 Number 40, Supplement to the State Gazette of the Republic of Indonesia Number 6320); ff. Financial Services Authority Regulation Number 16/POJK.05/2019 concerning the Supervision of PT Permodalan Nasional Madani (Persero) (State Gazette of the Republic of Indonesia Year 2019 Number 107, Supplement to the State Gazette of the Republic of Indonesia Number 6357); and gg. Financial Services Authority Regulation Number 24/POJK.05/2019 concerning Business Plans of Nonbank Financial Institution Services (State Gazette of the Republic of Indonesia Year 2019 Number 175, Supplement to the State Gazette of the Republic of Indonesia Number 6392), declared to remain in force as long as they do not conflict with the provisions in this Financial Services Authority Regulation.

Article 22
This Financial Services Authority Regulation comes into force on the date of enactment.

This copy is consistent with the original
Deputy Director of Legal Consultation and Harmonization of Banking Regulations 1 Legal Directorate 1 Legal Department signed Wiwit Puspasari

In order that everyone may know it, order the enactment of this Financial Services Authority Regulation by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta on April 14, 2020
CHAIRMAN OF THE COMMISSIONERS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA, signed
WIMBOH SANTOSO

Enacted in Jakarta on April 17, 2020
MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA, signed
YASONNA H. LAOLY
STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2020 NUMBER 102

EXPLANATION
OF
FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 14 /POJK.05/2020
CONCERNING
COUNTERCYCLICAL POLICY ON THE IMPACT OF THE SPREAD OF CORONAVIRUS DISEASE 2019 FOR NONBANK FINANCIAL INSTITUTION SERVICES

I. GENERAL
The global spread of COVID-19 has directly or indirectly impacted the performance and operational capacity of consumers and Nonbank Financial Institution Services (LJKNB).
The impact on the performance and operational capacity of consumers and LJKNB has the potential to disrupt the performance of LJKNB and financial system stability, thereby affecting economic growth, so specific countercyclical policies are required to maintain LJKNB performance, maintain financial system stability, and support economic growth. Countercyclical policies on the impact of the spread of COVID-19 include policies related to:
a. deadlines for submitting periodic reports; b. implementation of competency and propriety assessments;
c. determination of asset quality in the form of Financing and Financing restructuring;
d. calculation of solvency levels for insurance companies, Sharia insurance companies, reinsurance companies, and Sharia reinsurance companies; e. calculation of pension fund financing quality for pension funds that administer defined benefit pension programs; f. implementation of asset management provisions according to participant age groups (life cycle fund) for pension funds that administer defined contribution pension programs; and g. other policies determined by the Financial Services Authority through the Executive Heads of Insurance Supervision, Pension Funds, Financing Institutions, and Other Financial Institution Services. Countercyclical policies on the impact of the spread of COVID-19 are applied while still observing the principle of prudence. Countercyclical policies on the impact of the spread of COVID-19 are temporary, so they need to be evaluated and adjusted according to the development of the status of the COVID-19 epidemic disaster as determined by the Government and its impact. In this regard, regulations regarding countercyclical policies on the impact of the spread of COVID-19 for LJKNB are needed in a Financial Services Authority Regulation.

II. ARTICLE BY ARTICLE
Article 1
Is clear enough.

Article 2
Number 1
Letter a
Insurance companies also include Sharia units of insurance companies that conduct part of their business based on Sharia principles.
Letter b
Reinsurance companies also include Sharia units of reinsurance companies that conduct part of their business based on Sharia principles.
Letter c
Is clear enough.
Letter d
Is clear enough.
Letter e
Is clear enough.
Letter f
Is clear enough.
Letter g
Is clear enough.
Number 2
Pension funds include those that conduct all or part of their business based on Sharia principles.
Number 3
Letter a
Financing companies also include Sharia business units of financing companies that conduct part of their business based on Sharia principles.
Letter b
Is clear enough.
Letter c
Venture capital companies also include Sharia business units of venture capital companies that conduct part of their business based on Sharia principles.
Letter d
Is clear enough.
Letter e
Infrastructure financing companies include those that conduct part of their business based on Sharia principles.
Number 4
Letter a
Pawnshop companies include those that conduct all or part of their business based on Sharia principles.
Letter b
Number 1)
Guarantee companies also include Sharia business units of guarantee companies that conduct part of their business based on Sharia principles.
Number 2)
Is clear enough.
Number 3)
Is clear enough.
Number 4)
Is clear enough.
Letter c
Is clear enough.
Letter d
Is clear enough.
Letter e
Is clear enough.
Letter f
Is clear enough.

Article 3
Paragraph (1)
Is clear enough.
Paragraph (2)
What is meant by “the application of the principle of prudence, risk management, and good corporate governance” includes the implementation of countercyclical policies by LJKNB responsibly and equipped with monitoring mechanisms to prevent misuse (moral hazard). Paragraph (3) In order to implement countercyclical policies in accordance with Sharia principles, if needed, opinions can be requested from the Sharia supervisory board, for example, there are new activities or operations in the implementation of this Financial Services Authority Regulation. Paragraph (4) Example:
For LJKNB that are in the process of rehabilitation, the Financial Services Authority may request the submission of monthly reports with a deadline earlier than the deadline regulated in this Financial Services Authority Regulation. Paragraph (5) Is clear enough.

Article 4
Paragraph (1)
What is meant by “periodic reports” are reports submitted by LJKNB to the Financial Services Authority periodically, including financial reports and non-financial reports.
Paragraph (2)
Is clear enough.
Paragraph (3)
What is meant by “data communication network system” includes submission via electronic mail.
Paragraph (4)
Is clear enough.

Article 5
Paragraph (1)
What is meant by “key parties” are parties who own, manage, supervise, and/or have significant influence on LJKNB as referred to in the Financial Services Regulation regarding competency and propriety assessment of key parties to financial institution services. Paragraph (2) A statement letter from the director or equivalent who oversees the compliance function states among others:
a. LJKNB and/or prospective key parties of LJKNB have reliable infrastructure to be able to follow the presentation or briefing and clarification through face-to-face meetings via video conference; b. LJKNB will ensure that prospective key parties of LJKNB participating in the presentation or briefing and clarification are prospective key parties and are not represented; and
c. LJKNB and prospective key parties will maintain the confidentiality of information used in the presentation or briefing and clarification.

Paragraph (3)
Is clear enough.

Article 6
Is clear enough.

Article 7
Is clear enough.

Article 8
Is clear enough.

Article 9
Paragraph (1)
Financing restructuring can be carried out on all Financing provided to Debtors affected by the spread of COVID-19 without ceiling limits.
Financing restructuring is carried out in accordance with the Financial Services Authority Regulation regulating asset quality assessment for each LJKNB and can be implemented among others by:
a. reduction of interest rates or margins/profit-sharing/ujrah; b. extension of the term;
c. postponement of partial payment;
d. reduction of principal arrears; e. reduction of interest arrears; f. addition of Financing; g. conversion of Sharia Financing agreements; and h. conversion of Financing into equity participation. Paragraph (2) Is clear enough. Paragraph (3) Is clear enough. Paragraph (4) Is clear enough. Paragraph (5) LJKNB sets current quality for Restructured Financing after the Debtor is affected by the spread of COVID-19. Example:
LJKNB conducts Financing restructuring for Debtor DEF after being affected by the spread of COVID-19 on March 17, 2020 (before this Financial Services Authority Regulation came into force). Financing to Debtor DEF can still receive special treatment in accordance with this Financial Services Authority Regulation, namely being classified as current since the LJKNB monthly report at the end of April 2020.

Article 10
Paragraph (1)
Is clear enough.
Paragraph (2)
Is clear enough.
Paragraph (3)
Is clear enough.
Paragraph (4)
Financing ceiling is the total ceiling for Financing disbursed before and after the disbursement of new Financing to the Debtor.

Article 11
Paragraph (1)
Is clear enough.
Paragraph (2)
Is clear enough.
Paragraph (3)
Example:
Determination of Debtors affected by the spread of COVID-19, among others:

1. The Debtor is an individual declared as a positive COVID-19 patient, patient under supervision, or person under supervision so that the Debtor experiences difficulties in fulfilling obligations to LJKNB according to the agreement;
2. The Debtor has a business in an economic sector directly affected by the spread of COVID-19 so that the Debtor experiences difficulties in fulfilling obligations to LJKNB according to the agreement.
   Example:
   a. The Debtor works as a motorcycle taxi driver whose business income from passenger delivery activities has decreased significantly during the implementation of large-scale social restrictions; b. The Debtor works as a street vendor whose business income has significantly decreased during the implementation of large-scale social restrictions; or
   c. The Debtor works in a hotel in a tourist area and has been terminated;
   and
3. The Debtor has a business in an economic sector indirectly affected by the spread of COVID-19 so that the Debtor experiences difficulties in fulfilling obligations to LJKNB according to the agreement.
   Example:
   a. the Debtor's business is affected by a significant decrease in export and import volumes due to supply chain and trade linkages with other countries that have been affected by the spread of COVID-19; or b. the Debtor's infrastructure construction project is hindered due to the halt of raw material, labor, and machinery supplies from other countries that have been affected by the spread of COVID-19.

Article 12
Is clear enough.

Article 13
Is clear enough.

Article 14
Is clear enough.

Article 15
Is clear enough.

Article 16
Paragraph (1)
Is clear enough.
Paragraph (2)
Is clear enough.
Paragraph (3)
Letter a
Is clear enough.
Letter b
What is meant by “payment due date” includes for single premiums or contributions and installment premiums or contributions.

Article 17
Is clear enough.

Article 18
Is clear enough.

Article 19
Paragraph (1)
In calculating financing quality, actuaries can use net asset values resulting from management calculations after adjusting investment valuations on corporate bonds listed on the stock exchange, sukuk or Sharia bonds listed on the stock exchange, securities issued by the Republic of Indonesia, and Sharia securities issued by the Republic of Indonesia. Paragraph (2) Is clear enough. Paragraph (3) Pension funds affected by the spread of COVID-19 are proven among others through a decrease in the solvency ratio. Example:
Application of provisions that do not cause the quality of pension fund financing to be higher than the financing quality in the previous actuarial valuation, namely: in the last actuarial valuation, for example, as of December 31, 2019, Pension Fund XYZ was at the second level of financing quality, then the financing quality according to these provisions can only result in the highest financing quality at the second level. Paragraph (4) Is clear enough.

Article 20
Paragraph (1)
Example:
Pension Fund XYZ has participant A who will reach normal retirement age in 2 (two) years. In the Pension Fund Regulation of Pension Fund XYZ, it is regulated that 2 (two) years before entering normal retirement age, the Management of Pension Fund XYZ transfers the investment portfolio management for participant A to the asset group dedicated to participants who will retire in 2 (two) years. With this policy, Pension Fund XYZ can postpone transferring the investment portfolio for participant A for a maximum of 1 (one) year, if the portfolio transfer due date is within the validity period of this Financial Services Authority Regulation. Paragraph (2) Is clear enough.

Article 21
Is clear enough.

Article 22
Is clear enough.

SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 6489

APPENDIX I
FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 14 /POJK.05/2020
CONCERNING
COUNTERCYCLICAL POLICY ON THE IMPACT OF THE SPREAD OF CORONAVIRUS DISEASE 2019 FOR NONBANK FINANCIAL INSTITUTION SERVICES CRITERIA FOR PROSPECTIVE KEY PARTIES OF LJKNB REQUIRING CLARIFICATION

Experience	Position Held
	Commissioner	Chief Commissioner	Independent Commissioner	Director	Chief Director	Sharia Supervisory Board	Internal Auditor	Actuary
Commissioner	N	N3	Y
Chief Commissioner	N	N1	Y
Independent Commissioner	N	N1	N1	Y
Director	N	N	Y	N4	N5	Y	N	Y
Chief Director	N	N	Y	N	N4	Y	N	Y
Sharia Supervisory Board	Y	N	Y	Y

Experience
Position Held
Commissioner
Commissioner
Chief
Commissioner
Independent
Director
Director
Chief
Sharia
Supervisory Board
Internal
Auditor
Actuary
Company
Internal Auditor Y N Y
Company Actuary Y N
Executive 1 level below the Board of Directors with a tenure of more than 3 (three) years N2 N2 Y N2 Y Y N2 Y No experience Y Notes:
Commissioner / Chief
Commissioner / Independent
Commissioner
= Commissioner / Chief Commissioner / Independent Commissioner is a company organ tasked with conducting general and/or specific supervision in accordance with the articles of association and providing advice to the Board of Directors for Nonbank Financial Service Institutions (LJKNB) in the form of a limited liability company or equivalent, or equivalent to Commissioner / Chief Commissioner / Independent Commissioner for LJKNB in the form of a cooperative, joint venture, pension fund, public enterprise, Indonesian export financing institution, social security organizing body, or limited partnership. Director / Chief Director = Director / Chief Director is a company organ authorized and fully responsible for managing the company for the benefit of the company, in accordance with the company's purpose and objectives and representing the company, both in and out of court, in accordance with the articles of association provisions for LJKNB in the form of a limited liability company or equivalent to Director / Chief Director for LJKNB in the form of a cooperative, joint venture, pension fund, public enterprise, Indonesian export financing institution, social security organizing body, or limited partnership. Sharia Supervisory Board = Sharia Supervisory Board is a supervisor recommended by the National Sharia Board, Indonesian Ulema Council, placed in LJKNB or a Sharia unit, tasked with supervising company business activities to ensure compliance with Sharia principles. Internal Auditor = Internal Auditor is an official in an insurance company responsible for evaluating and improving the effectiveness of risk management, control, and corporate governance processes, working independently and in accordance with applicable practice standards. Company Actuary = Company Actuary is an official in an insurance company, Sharia insurance company, reinsurance company, and Sharia reinsurance company appointed and responsible for managing the financial impact of risks faced by the company, working independently and in accordance with applicable practice standards. Y = Clarification is required for the prospective principal party. N = No clarification is required for the prospective principal party. N1 = No clarification is required for the prospective principal party, except for commissioners, chief commissioners, or independent commissioners who will serve as commissioners, chief commissioners, or independent commissioners in LJKNB with larger size and complexity. N2 = No clarification is required for the prospective principal party, except for executives 1 level below the Board of Directors who will serve as commissioners, chief commissioners, directors, or Internal Auditors in LJKNB with larger size and complexity.

This copy is consistent with the original
Deputy Director of Legal Consultation and
Harmonization of Banking Regulations 1
Legal Directorate 1
Legal Department signed
Wiwit Puspasari
N3 = No clarification is required for the prospective principal party, except for commissioners who will serve as chief commissioners in a company different from the previous one.
N4 = No clarification is required for the prospective principal party, except for directors or chief directors who will serve as directors or chief directors in LJKNB with larger size and complexity. N5 = No clarification is required for the prospective principal party, except for directors who will serve as chief directors in a company different from the previous one. Determined in Jakarta on April 14, 2020 CHAIRMAN OF THE COMMISSIONER BOARD FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA,

signed
WIMBOH SANTOSO

APPENDIX II
FINANCIAL SERVICES AUTHORITY REGULATION
NUMBER 14 /POJK.05/2020
CONCERNING
COUNTERCYCLICAL POLICY
ON THE IMPACT OF THE SPREAD OF CORONAVIRUS DISEASE 2019 FOR NONBANK FINANCIAL SERVICE INSTITUTIONS FORMAT 1 : REPORT ON FINANCING DISBURSEMENT TO DEBTORS AFFECTED BY THE SPREAD OF COVID-19 AND ASSESSED BASED ON PAYMENT ACCURACY Name of LJKNB :
Report Position :
No. Debtor Name Debtor Number
Economic Sector
Debtor Location
(Province)
Financing Ceiling
Outstanding
Financing Asset Quality Notes
(1) (2) (3) (4) (5) (6) (7) (8) (9)

Filling Guidelines:
(2) The "Debtor Name" column is filled with the name of the business entity or individual receiving Financing from the LJKNB, affected by the spread of COVID-19, and the asset quality determination of Financing is based on the accuracy of principal and/or interest or margin/profit share/ujrah payments. If a Debtor has multiple Financing accounts, the LJKNB reports 1 (one) Debtor on 1 (one) line cumulatively. (3) The "Debtor Number" column is filled with the unique code number of each Debtor receiving Financing facilities from the reporting LJKNB. The Debtor Number can use the Debtor identification number submitted in the financial information service system. (4) The "Economic Sector" column is filled with the Debtor's economic sector referring to the standard classification of economic activities in Indonesia, namely:
a. agriculture, forestry, and fisheries; b. mining and quarrying;
c. manufacturing industry;
d. electricity, gas, steam/hot water, and air conditioning supply; e. water supply, wastewater management, waste management and recycling, and remediation activities; f. construction; g. wholesale and retail trade, repair and maintenance of motor vehicles and motorcycles; h. transportation and trade;
i. accommodation and food and beverage supply;
j. information and communication; k. financial and insurance activities;
l. real estate;
m. professional, scientific, and technical activities; n. rental and leasing activities without option rights, employment, travel agencies, and other business support activities;

o. government administration, defense, and mandatory social security; p. education; q. human health and social work activities; r. arts, entertainment, and recreation; s. other service activities; t. household activities as employers, activities producing goods and services by households used to meet their own needs; u. activities of international bodies and other extra-international bodies;
v. economic sector not in an occupation;
w. households; or
x. other non-occupational sectors.
If a Debtor has multiple types of "Economic Sector", the most dominant "Economic Sector" is filled.
(5) The "Debtor Location (Province)" column is filled with the province location where the financed project/goods activities are located/used.
(6) The "Financing Ceiling" column is filled with the total value of ceilings received by 1 (one) Debtor.
(7) The "Outstanding Financing" column is filled with the outstanding balance of principal Financing invoices.
(8) The "Asset Quality" column is filled with the Financing quality assessed using criteria in accordance with the asset quality classification rules of the reporting LJKNB following the Financial Services Authority Regulation governing asset quality assessment for each LJKNB. (9) The "Notes" column is filled with explanations regarding the reasons the Debtor is determined as a Debtor affected by the spread of COVID-19, including micro, small, and medium enterprise debtors, examples:
a. closure of transport routes; b. supply chains;
c. project delays; or
d. others (explain).
Reasons can be filled in more than 1 (one).

FORMAT 2 : REPORT ON FINANCING RESTRUCTURING TO DEBTORS AFFECTED BY THE SPREAD OF COVID-19 Name of LJKNB :
Report Position :
A. Recapitulation of Restructuring Requests from Debtors Affected by the Spread of COVID-19:

1. Number of Debtors = ........
2. Value of Outstanding Financing = Rp........
   B. Details of Financing Restructuring to Debtors Affected by the Spread of COVID-19:
   No.
   Debtor
   Name
   Debtor
   Number
   Date
   Financing
   Restructuring Agreement
   Economic
   Sector
   Debtor
   Location
   (Province)
   Financing
   Ceiling
   Outstanding
   Financing
   Asset Quality
   Before
   Restructuring
   Notes
   (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Filling Guidelines:
(2) The "Debtor Name" column is filled with the name of the business entity or individual receiving Financing from the LJKNB, affected by the spread of COVID-19, for whom Financing restructuring has been carried out. If a Debtor has multiple Financing accounts, the LJKNB reports 1 (one) Debtor on 1 (one) line cumulatively. (3) The "Debtor Number" column is filled with the unique code number of each Debtor receiving Financing facilities from the reporting LJKNB. The Debtor Number can use the Debtor identification number submitted in the financial information service system. (4) The "Date of Financing Restructuring Agreement" column is filled with the date of signing the Financing restructuring agreement with the Debtor affected by the spread of COVID-19. (5) The "Economic Sector" column is filled with the Debtor's economic sector referring to the standard classification of economic activities in Indonesia, namely:
a. agriculture, forestry, and fisheries; b. mining and quarrying;
c. manufacturing industry;
d. electricity, gas, steam/hot water, and air conditioning supply; e. water supply, wastewater management, waste management and recycling, and remediation activities; f. construction; g. wholesale and retail trade, repair and maintenance of motor vehicles and motorcycles; h. transportation and trade;
i. accommodation and food and beverage supply;
j. information and communication; k. financial and insurance activities;

l. real estate;
m. professional, scientific, and technical activities; n. rental and leasing activities without option rights, employment, travel agencies, and other business support activities; o. government administration, defense, and mandatory social security; p. education; q. human health and social work activities; r. arts, entertainment, and recreation; s. other service activities; t. household activities as employers, activities producing goods and services by households used to meet their own needs; u. activities of international bodies and other extra-international bodies;
v. economic sector not in an occupation;
w. households; or
x. other non-occupational sectors.
If a Debtor has multiple types of "Economic Sector", the most dominant "Economic Sector" is filled.
(6) The "Debtor Location (Province)" column is filled with the province location where the financed project/goods activities are located/used.
(7) The "Financing Ceiling" column is filled with the total value of ceilings received by 1 (one) Debtor.
(8) The "Outstanding Financing" column is filled with the outstanding balance of principal Financing invoices after the implementation of Financing Restructuring, namely at the time of the reporting period. (9) The "Asset Quality Before Restructuring" column is filled with the Financing asset quality before the implementation of restructuring, assessed using criteria in accordance with the asset quality classification rules of the reporting LJKNB following the Financial Services Authority Regulation governing asset quality assessment for each LJKNB.

This copy is consistent with the original
Deputy Director of Legal Consultation and
Harmonization of Banking Regulations 1
Legal Directorate 1
Legal Department signed
Wiwit Puspasari
(10) The "Notes" column is filled with explanations regarding the reasons the Debtor is determined as a Debtor affected by the spread of COVID-19, including micro, small, and medium enterprise debtors, examples:
a. closure of transport routes; b. supply chains;
c. project delays; or
d. others (explain).
Reasons can be filled in more than 1 (one).
Determined in Jakarta on April 14, 2020
CHAIRMAN OF THE COMMISSIONER BOARD
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

signed
WIMBOH SANTOSO