PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 576 21. DEPOSITS FROM OTHER BANKS - INTER-BANK CALL MONEY
a. By Currency:
2009 2008
2007
Foreign currencies -
7,588 827,617
Deposits from other banks - inter-bank call money as at 31 December 2009 and 2008 amounting to RpNil and Rp7,588 is presented after set-off of with inter-bank call money of a financial institution in
liquidation placed in Bank Mandiri amounting to Rp13,866 and Rp16,217 as at 31 December 2009 and 2008, respectively. The inter-bank call money was net-off with Bank Mandiri’s placement
balance in that financial institution in liquidation which classified as loss amounting to Rp209,153 and Rp242,708 as at 31 December 2009 and 2008, respectively Note 5e.
b. By Remaining Period Until Maturity Date:
2009 2008
2007
Foreign currencies: Less than 1 month
- 7,588
827,617
c. Average Interest Rates Cost of Funds per Annum:
2009 2008
2007
Foreign currencies -
3.29 5.42
d. As at 31 December 2009, 2008 and 2007, there were no inter-bank call money transaction with related party.
22. DEPOSITS FROM OTHER BANKS - TIME DEPOSITS
a. By Currency:
2009 2008
2007
Rupiah 3,890,457
2,763,817 1,724,286
Foreign currencies 1,053,501
1,801,966 1,221,373
4,943,958 4,565,783
2,945,659
b. By Contract Period:
2009 2008
2007
Rupiah: 1 month
3,785,798 2,684,933
1,703,249 3 months
56,022 44,421
7,640 6 months
35,857 12,971
2,300 12 months
12,480 21,192
11,097 Over 12 months
300 300
- Total Rupiah
3,890,457 2,763,817
1,724,286 Foreign currencies:
1 month 1,053,501
166,917 1,197,890
6 months -
1,635,049 23,483
Total foreign currencies 1,053,501
1,801,966 1,221,373
4,943,958 4,565,783
2,945,659
Included in deposits from other banks - time deposits were unrestricted investment - mudharabah investments time deposits amounting to Rp207,640, Rp218,380 and RpNil as at 31 December
2009, 2008 and 2007, respectively.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 577 22. DEPOSITS FROM OTHER BANKS - TIME DEPOSITS continued
c. Average Interest Rates Cost of Funds and Range of Profit Sharing per Annum: Average interest rates cost of funds per annum:
2009 2008
2007
Rupiah 8.36
7.56 7.39
Foreign currencies 3.06
3.29 3.71
Range of profit sharing per annum on mudharabah investments:
2009 2008
2007
Rupiah 6.08 - 8.85
6.09 - 8.54 6.60 - 8.05
Foreign currencies 1.91 - 3.00
2.36 - 3.28 2.85 - 3.35
d. As at 31 December 2009, 2008 and 2007, the Bank had no time deposits from related party banks.
e. As at 31 December 2009, 2008 and 2007, time deposits from other banks which are frozen and
blocked as collateral for bank guarantees, loan and trade finance facilities were amounting to Rp149,906, Rp772,530 and Rp42,079, respectively.
f. In the second quarter of 2005, the Bank entered into two Callable Parallel Deposit transactions with
the Bank’s counterpart in relation to sales of Government Bonds. The contract started when the Bank transferred the Government Bonds to counterparty bank and received the proceeds in
Rupiah. A portion of the total proceeds amounting to Rp1,268,000 was placed back as deposit to the counterparty bank and subsequently the Bank received US Dollar loan amounting to
USD100,000,000 full amount.
The details of Callable Parallel Deposits contracts are as follows:
Deposit Effective Date
Maturity Date Beginning
Balance Ending Balance
Interest Rate
Rupiah 16 May 2005
20 June 2013 634,000
1,493,110 11.17
United States Dollar
17 May 2005 15 June 2013
USD50 million full amount
USD50 million full amount
3 months LIBOR +
spread Rupiah
3 June 2005 20 December 2013
634,000 1,540,310
11.00 United States
Dollar 8 June 2005
15 December 2013 USD50 million
full amount USD50 million
full amount 3 months
LIBOR + spread
Zero Coupon Deposits
Funds placed as deposit above are resulted from the proceeds of Government Bonds selling to the counterparty bank.
The agreement gave an option to the counterparty bank to early-terminate the transaction by terminatingwithdrawing the Rupiah and US Dollar deposits in every redemption date each year.
The agreement also required the Bank to provide additional top-up Rupiah deposit placement to counterparty bank during the transaction period based on the movement of Rupiah against United
States Dollar spot rate.
On 15 June 2006, the Bank exercised the right to early terminate the facility of USD50,000,000 full amount with effective date 17 May 2005. On 15 December 2006, the Bank also exercised the right
to early terminate the facility of USD50,000,000 full amount with effective date 8 June 2005. If the Bank exercised the option, the outstanding placement in Callable Zero Coupon Deposit will not be
automatically terminated.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 578 22. DEPOSITS FROM OTHER BANKS - TIME DEPOSITS continued
Based on the agreement, the counterparty bank has the right to early terminate the agreement should the unwind events occur, or where Bank fails to top up the Rupiah deposit as required in the
agreement.
If the counterparty Bank exercised its right to early terminate due to unwind events, the Bank has to pay unwind cost to the counterparty banks as determined later by the counterparty bank.
In addition, the counterparty bank has the right to early terminate if the counterparty bank considers the fund received in form of callable zero coupon deposits has delete higher interest rate than the
market interest rate, as executed by the counterparty bank on 28 May 2007 and 25 June 2007.
On 28 May 2007, the counterparty bank had early terminated the callable zero coupon deposits with beginning balance amounting to Rp634,000 and paid in cash as settlement of the transaction on
20 June 2007.
On 25 June 2007, the counterparty bank had early terminated the callable zero coupon deposits with beginning balance amounting to Rp634,000 and paid in cash as settlement of the transaction
on 21 December 2007.
23. SECURITIES SOLD UNDER REPURCHASE AGREEMENTS
2009
Securities Nominal
Value Commencement
Date Maturity
Date Repurchase
Value Unamortised
Interest Expense
Net Value
Government Bonds Rupiah
Bonds VR0019 355,652
18052005 18052010
316,356 -
316,356
Total 355,652
316,356 -
316,356
2008
Securities Nominal
Value Commencement
Date Maturity
Date Repurchase
Value Unamortised
Interest Expense
Net Value
Government Bonds Rupiah
Bonds VR0019 355,652
18052005 18052010
316,356 -
316,356 Bonds VR0017
289,859 04112004
04112009 284,062
- 284,062
Bonds FR0019 231,028
03112004 03112009
285,060 -
285,060
Total 876,539
885,478 -
885,478
Non Government Bonds
Rupiah Bonds
50,000 05092008
04032009 50,997
350 50,647
ORI 004 26,000
22092008 22012009
24,076 189
23,887 ORI 004
11,000 23092008
23012009 10,602
83 10,519
Bonds 7,000
09122008 02022009
6,335 9
6,326 Bonds
5,000 09122008
02022009 5,102
66 5,036
Total 99,000
97,112 697
96,415 Total
975,539 982,590
697 981,893
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 579 23. SECURITIES SOLD UNDER REPURCHASE AGREEMENTS continued
2007
Securities Nominal
Value Commencement
Date Maturity
Date Repurchase
Value Unamortised
Interest Expense
Net Value
Government Bonds Rupiah
Bonds VR0013 617,500
07062005 07012008
617,500 -
617,500 Bonds VR0031
669,000 19122007
03012008 602,746
259 602,487
Bonds VR0031 446,000
19122007 03012008
401,829 172
401,657 Bonds VR0019
355,652 18052005
18052010 316,356
- 316,356
Bonds VR0017 289,859
04112004 04112009
284,062 -
284,062 Bonds FR0040,
FR0043 and FR0047
283,000 28122007
28012008 297,527
34 297,493
Bonds FR0019 231,028
03112004 03112009
285,060 -
285,060 Bonds FR0020,
FR0027 and FR0033
100,000 28122007
11012008 110,021
293 109,728
Total 2,992,039
2,915,101 758
2,914,343
The Government Bonds sold under repurchase agreement with counterparty banks serial numbers VR0013, VR0017, FR0019 and VR0019 represents contracts associated with foreign currency funding
through cross currency swap transactions with the above counterparties Note 10. There were no premium or discount recognised from the above contracts.
24. ACCEPTANCE PAYABLES
a. By Currency, Related Parties and Third Parties:
2009 2008
2007
Rupiah: Payable to other banks
Third parties 187,478
85,168 74,688
Payable to debtors Third parties
121,364 8,783
118,195 Total Rupiah
308,842 93,951
192,883 Foreign currencies:
Payable to other banks Third parties
3,927,139 3,670,093
4,338,877 Payable to debtors
Third parties 120,792
78,323 491,475
Total Foreign currencies 4,047,931
3,748,416 4,830,352
4,356,773 3,842,367
5,023,235