PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six Months Ended June 30, 2006 Unaudited and 2005 Audited Expressed in millions of Rupiah, unless otherwise stated
45
10. DERIVATIVE RECEIVABLES AND PAYABLES continued
Cross Currency Swaps continued A summary of the cross currency swap contracts is as follows:
Type of
Buy Sell
Effective Date Maturity Date
Transactions full amount
full amount November 3, 2004
November 3, 2009 Spot
US25 million Rp285,060 million
Forward Rp285,060
million US25
million November 4, 2004
November 4, 2009 Spot
US25 million Rp284,062 million
Forward Rp284,062 million
US25 million May 18, 2005
May 18, 2010 Spot
US25 million Rp316,356 million
Forward Rp316,356
million US25
million June 7, 2005
January 7, 2008 Spot
US50 million Rp617,500 million
Forward Rp617,500 million
US50 million
Bank Mandiri has also entered into cross currency swap contracts with several counterparty banks for funding purposes.
As of June 30, 2005, a summary of derivative transactions is as follows:
Notional Amount Fair Value
Derivative Derivative
Transactions Contract
Note 2k
Receivables Payables
Third parties
Foreign Exchange Related : 1. Forward - buy
US Dollar 292,570
296,552 4,009
27 Others
24,569 23,591
19 997
2. Forward - sell US Dollar
25,390 25,540
- 150
Others 117,182
115,656 1,531
5 3. Swap - buy
US Dollar 1,688,274
1,706,342 18,068
- 4. Swap - sell
US Dollar 5,851,767
5,622,953 284,390
55,576 Others
59,342 58,483
859 -
5. Option Option - buy
US Dollar -
9 Option - sell
US Dollar
19 -
Interest Rate Related Swap - Interest rate
US Dollar
6,709 43,059
Total 315,604
99,823 Less: Allowance for possible losses
3,217 -
312,387 99,823
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six Months Ended June 30, 2006 Unaudited and 2005 Audited Expressed in millions of Rupiah, unless otherwise stated
46
10. DERIVATIVE RECEIVABLES AND PAYABLES continued
Movements of allowance for possible losses on derivative receivables:
2006 2005
Balance at beginning of period 3,443
2,881 Provision during the period Note 37
635 335
Others 1
1 Balance at end of period
4,079 3,217
Includes effect of foreign exchange translation.
As of June 30, 2006 and 2005, the collectibility of derivative receivables is as follows:
2006 2005
Current 404,154
315,551 Sub-standard
- 53
Total 404,154
315,604 Less: Allowance for possible losses
4,079 3,217
Balance at end of period 400,075 312,387
Management believes that the allowance for possible losses on derivative receivables is adequate.
11. LOANS
