At the opening of the 4th International Conference and Call for Papers of the Journal of Central Banking Law and Institutions in Bali, Bank of Indonesia Deputy Governor Thomas A.M. Djiwandono said the changing financial architecture requires a more integrated policy framework as links between institutions, sectors and policy domains become stronger. In his remarks, he said the boundaries between monetary, fiscal and macroprudential policy are becoming less distinct, while digitalisation and cross-border interconnectedness are speeding up risk transmission and increasing the potential impact of shocks on the financial system. He said this calls for closer inter-agency coordination, clear legal mandates across institutions, and institutional autonomy not only for central banks but also for financial sector regulators and supervisory authorities. The conference theme was “Central Banking in Transition: Navigating Interconnected Risks and Institutional Governance and Autonomy in the New Financial Architecture.” Bank of Indonesia said the event brought together researchers, academics and practitioners across law, institutional governance, economics, informatics and central banking, with 291 paper submissions from authors in 34 countries. Discussions among authorities and academics concluded that faster digital transformation in finance creates scope for innovation but also requires stronger governance, crisis readiness and adaptive supervisory frameworks to preserve financial system stability.

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