Jaraa'idJaraa'id
Notification Show More
Latest News
European ammunition maker says plant expansion hit by energy-guzzling TikTok site
Business
Robin van Persie tipping ‘champion team’ Arsenal to end 19-year wait and win Premier League
Sports
Netanyahu sacks defence minister over refusal to back judicial reform
Business
Miami Open 2023: Bianca Andreescu marches on with win over Sofia Kenin, Belinda Bencic becomes latest big name to fall
Sports
US Vice President Kamala Harris in Africa to boost ties
Africa
Aa
  • Home
  • Local News
  • Africa
  • United States
  • Europe
  • Asia
  • Sports
  • Videos
  • Live Score
  • More
    • Business
    • Market Data
      • Stocks
      • Commodities
      • Cryptocurrency
      • Forex
    • Weather
Reading: Indonesia downplays impact of SVB collapse on its banking sector
Share
Aa
Jaraa'idJaraa'id
  • Somalia
  • Africa
  • United States
  • Europe
  • Asia
  • Business
  • Sports
  • Videos
Search
  • Home
  • Local News
  • Videos
  • World
    • Africa
    • United States
    • Europe
    • Asia
  • Market Data
    • Stocks
    • Commodities
    • Cryptocurrency
    • Forex
  • More
    • Sports
    • Business
    • Weather
    • Live Score
Have an existing account? Sign In
Follow US
Jaraa'id > Asia > Indonesia downplays impact of SVB collapse on its banking sector
Asia

Indonesia downplays impact of SVB collapse on its banking sector

News Room
Last updated: 2023/03/15 at 3:36 PM
News Room Published March 15, 2023
Share
SHARE

SVB, a major lender for start-ups in the US, collapsed after a sudden run on deposits, prompting regulators to seize control last week. It had about US$209 billion in total assets before suddenly collapsing within 48 hours.

Additionally, Signature Bank, America’s 21st largest bank was also forced to close by the authorities.

The Joe Biden administration has moved to prevent financial contagion. It has unveiled emergency measures to guarantee the deposits of SVB’s customers. 

In OJK’s statement, Mr Rae added that after the Asian financial crisis in 1998, Indonesia had taken fundamental steps to strengthen institutions, legal infrastructure, governance and customer protection, creating a robust, resilient and stable banking system.

OJK will continue to monitor various developments that are taking place globally and their implications for Indonesia’s banking sector, he added. 

Meanwhile, the Monetary Authority of Singapore (MAS) has said that Singapore’s banking system has “insignificant exposures” to the collapse of SVB and Signature Bank.

On Wednesday, Malaysia’s Deputy Finance Minister Steven Sim told parliament that SVB’s collapse will have minimal and limited impact on banking institutions in the country.

The New Straits Times (NST) reported that Mr Sim said that Malaysia’s banking system remained competitive, resilient and continued to perform its role as an effective financial intermediary.

“In terms of regulation, capitalisation and also liquidity management, we have regulations that are quite strict,” he was quoted as saying by NST.

Read the full article here

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room March 15, 2023
Share this Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular News
Business

European ammunition maker says plant expansion hit by energy-guzzling TikTok site

News Room News Room March 26, 2023
Robin van Persie tipping ‘champion team’ Arsenal to end 19-year wait and win Premier League
Netanyahu sacks defence minister over refusal to back judicial reform
Miami Open 2023: Bianca Andreescu marches on with win over Sofia Kenin, Belinda Bencic becomes latest big name to fall
US Vice President Kamala Harris in Africa to boost ties
The News Puzzle: test your knowledge of this month’s events
Jude Bellingham says he will ‘wait his turn’ for the England captaincy following fine display against Ukraine
Actor Jonathan Majors arrested in New York on assault charges
- Advertisement -
Ad imageAd image

You Might also Like

Asia

Founder of Din Tai Fung chain, globally known for its xiao long baos, dies aged 96

March 26, 2023
Asia

China opens ties with Honduras, Taiwan decries monetary demands

March 26, 2023
Asia

Taiwan and Honduras end decades-long diplomatic ties

March 26, 2023
Asia

‘Kept in the dark’: Batang Kali landslide survivors urge authorities to release full investigation report

March 25, 2023
  • Somalia
  • Africa
  • United States
  • Europe
  • Asia
  • Cryptocurrency
  • Forex
  • Stock Market

About US

Jaraa'id is your one-stop website for the latest global and local news and updates, follow us now to get the news that matters to you.
Quick Link
  • Privacy Policy
  • Terms of use
  • Press ReleaseSubmit
  • Advertise
  • Contact
Top Sections
  • Business
  • Sports
  • Videos
  • Market DataLive
  • Weather

Subscribe US

Subscribe to our newsletter to get our Latest articles instantly!

I have read and agree to the terms & conditions

2023 © Jaraa'id. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?