"I hoped the revised edition of the API could be immediately made known to the public before the end of this year," BI deputy governor Muliaman D Hadad said at a journalist training event here on Saturday.
He said the new API would have a time frame until 2020 following the start of the ASEAN Economic Community period so that the national banking community by the time will have been ready to compete with other banks in the Southeast Asian region.
"In 2020 the Indonesian economy is growing bigger so that it must be supported by strong banking and therefore as of now preparations towards 2020 have to be made," he said.
The new API is the results of evaluation of the old API with additions such as on new initiatives aimed to push banks to grow with stronger capital.
In the new API the roles of state-owned banks and regional banks would be strengthened with regard to their strategy and capital so that they could become a market leader in their respective region.
"The role of smallholder banks (BPR) would also be made clear so that they are not inferior compared to general banks," he said.
He said the new API would also direct banks to ease public access to them so that more people would be involved in banking services and so that they would be useful in reducing poverty.
"The banking access improvement and financial worthiness are the two main topics related to boosting of banking credits," he said.
Muliaman said the target of 2020 was also in line with the Basel III decision that states that all provisions in the Basel III could be implemented fully in 2019 such as with regard to requirements for an eight to 10 percent capital adequacy ratio.
BNI`s international and treasury director Adi Setianto on the occasion said that he also viewed that the revised API would have a consequence on national banks with regard to supervision, capitalization and competence.