It may be argued that testing the new resolution regimes too early could undermine the credibility of reforms. Yet, simply preserving the current market structures entails risks as well. Protecting the market shares of (large) incumbent financial institutions might counteract the reforms’ objectives to address the too-big-tofail issue. The potential for harnessing eﬃciency gains may be squandered. Fourth, close cooperation between regulators is needed.
In relation thereto, Bank Indonesia strongly supports the application of National Identity Numbers and electronic Resident’s Identity Cards by the Ministry of Home Affairs because the fundamental issue of population registration in Indonesia is data singularity.