PREMIUMExperts warn of moral hazard, uncertainty as House plans to let BI supervises banks

first_imgFacebook Forgot Password ? LOG INDon’t have an account? Register here The House of Representatives’ proposal to bring back banking supervision to Bank Indonesia (BI) has drawn criticism as experts warn of possible moral hazard and regulatory uncertainty.In a draft revision of the 1999 and 2004 BI laws, the House’s Legislative Body (Baleg) proposed that the central bank take over the job of supervising banks from the Financial Services Authority (OJK). The gradual takeover process is expected to be completed by Dec. 31, 2023, at the latest.The OJK was established in 2011 to oversee the financial industry and it was modeled on the financial services regulatory structure that prevailed in the United Kingdom. It assumed the role of regulator and supervisor of banks in 2013, taking the responsibility from the central bank.The plan to return the role to the central bank will put the credibility of lawmakers and the government at stake, said U… Log in with your social account Google Linkedin Topics : OJK bank-indonesia Financial-Services-Authority BI-Law-revision banking-industry supervisionlast_img read more

Remarks by Governor Tom Wolf at Martin Luther King Day of Service

first_imgRemarks by Governor Tom Wolf at Martin Luther King Day of Service SHARE Email Facebook Twitter January 18, 2016center_img Remarks 21st Annual Greater Philadelphia Martin Luther King Day of ServicePhiladelphia, PATRANSCRIPT:Good Morning and welcome to the 21st Annual Greater Philadelphia Martin Luther King Day of Service.I’m so honored to be able to welcome the 5,000 volunteers that will participate in this event here at Girard College today.Greater Philadelphia Martin Luther King Day of Service is the largest King Day event in the nation with over 135,000 people across the region participating in a service project.And today we honor the legacy of Dr. Martin Luther King, Jr., a servant leader dedicated to justice, equality and fairness.I’m reminded today about the importance of leadership in service to the citizens among us in most need.And of Dr. King’s urgent persistence in moving people of his time toward a better democracy.A democracy based on the ideals of leaders that preceded him.A system that leaders before him established here in Philadelphia.Where all men are created equal.And now, during our time, we continue that legacy in our work to make life better for citizens of our great state.We continue moving our government towards fairness and equality in opportunity.This day continues to inspire me and I’m thankful that I’m able to return as Governor and work shoulder to shoulder with so many of you.Because I know that there are thousands, hundreds of thousands in this region alone, that are coming together in service to others today.Thank you to all the organizations here today, and particularly Global Citizen and its president, Todd Bernstein.You all have truly given breadth and momentum to this movement, and Pennsylvania, the United States, and the world is all the better for I.###Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolflast_img read more

Large motorcycle rally in N. Iowa worries local officials

first_imgALGONA, Iowa (AP) — A group still plans to hold a three-day motorcycle rally in northern Iowa that’s expected to attract thousands of bikers despite the concerns of local officials that the event could spread the coronavirus. Local officials usually welcome the annual Freedom Rally held on a farm northeast of Algona, but this year’s event planned for Thursday to Saturday has officials worried. Algona is in Kossuth County, which has had 32 confirmed cases of the coronavirus and no reported deaths. But officials think that could change because of the motorcycle rally, which typically draws 10,000 bikers. Organizers say they are encouraging social distancing and are calling for riders to limit trips into Algona.last_img read more