September 7, 2025 | 12:20 pm
TEMPO.CO, Jakarta - Indonesian Finance Minister Sri Mulyani Indrawati has restructured the organization and work procedures of the Secretariat of the Financial System Stability Committee (KSSK). The changes are regulated in Financial Ministerial Regulation (PMK) number 64 of 2025.
The PMK came into effect on September 4, 2025. In the opening part of the document, it is stated that the organizational arrangement has been made to adjust to the changes from Law number 9 of 2016 concerning the Prevention and Handling of Financial System Crises to Law number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK).
"That the organizational arrangement and work procedures of the Secretariat of the Financial System Stability Committee as referred to in point a, have received approval from the Minister of Administrative and Bureaucratic Reform," reads the second point of the considerations section in PMK 64 of 2025.
Based on this new PMK, the KSSK secretariat is now administratively under the new top echelon 1 position in the Ministry of Finance (Kemenkeu), namely the Director General of Financial Stability and Sectoral Development. Previously, it was administratively under the Secretary General of Kemenkeu.
The organizational structure has also changed. Initially, it was filled by the Directorate of Banking and Macroeconomic Assessment; Directorate of Non-Bank Financial Services Industry Assessment; Directorate of Financial Market, Payment System, and Other Financial Institutions Assessment; and the Risk Management and Legal Division.
In the new PMK, it has been restructured into four directorates. Including the Directorate of Banking and Macroeconomic Assessment; Directorate of Non-Bank Financial Services Industry Assessment; Directorate of Financial Market, Payment System, and Other Financial Institutions Assessment; and the Risk Management and Legal Directorate. As well as one Office Management Division.
In addition to changing the structure, the Finance Minister also emphasizes several functions of the KSSK secretariat that were not previously explained in the old PMK. For example, in article 4 point (h) which states the Coordination of the implementation of stress testing of the financial system stability conditions and financial system crisis simulation.
Then there is the point of the secretariat's function, which is the coordination of preparing reports to the KSSK regarding the coordination results of macroprudential and microprudential policies, and bank problem resolution conducted through coordination forums.
Another function added is the coordination of preparing decisions of the KSSK regarding the implementation of Bank Indonesia's (BI) authority to purchase long-term state securities in the primary market. In the previous PMK, there was no explicit point regarding coordination of BI's purchase of government securities in the primary market.
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