Finance Minister Sri Mulyani Indrawati has restructured the organizational system and procedures of the Financial System Stability Committee (KSSK).

The change follows the issuance of Ministry of Finance Regulation (PMK) No. 64/2025 on the Organization and Working Procedures of the KSSK Secretariat. The regulation officially cancels PMK No. 92/2017 and has been in effect since September 4, 2025.

The adjustment is also in line with Law No. 4/2023 on the Development and Strengthening of the Financial Sector (P2SK), which broadens the scope of the KSSK Secretariat’s functions.

The regulation states, “To create an effective and efficient organization and working system in order to improve the implementation of the tasks and functions of the Financial System Stability Committee Secretariat, it is necessary to reorganize the Secretariat of the Financial System Stability Committee.”

Expanded Structure of the KSSK Secretariat

Under the new regulation, the KSSK Secretariat is a non-echelon organizational unit within the Ministry of Finance. It reports to the Minister as KSSK coordinator and is administratively placed under the Director General of Financial Sector Stability and Development.

The Secretariat is tasked with providing substantive and administrative support to the KSSK. Its organizational structure now includes:

• 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,
• Directorate of Risk Management and Legal Affairs,
• Division of Office Management.

Previously, the Secretariat only comprised the Directorate of Financial System Stability Assessment and Policy, the Directorate of Risk Management and Legal Affairs, the Office Management Division, and a Functional Job Group.

The regulation notes, “The Directorate of Banking and Macroeconomic Assessment is tasked with preparing and coordinating the implementation of analysis, research, and/or assessments of the banking sector and macroeconomics.”

Broader Functions of the Secretariat

Sri Mulyani also expanded several functions of the KSSK Secretariat that were not included in the earlier regulation. These new tasks include:

• Coordinating financial system stability stress tests and crisis simulations,
• Carrying out analysis, research, and assessments of financial system stability,
• Coordinating the preparation of KSSK decisions regarding Bank Indonesia’s authority to purchase long-term government securities in the primary market.

PHOTO: KEMENKEU/LEONARDUS OSCAR

This article was created with AI assistance.