Capital Charge Calculation to Cover Operational Risk
e. Settlement Mandatory Convertible Bond MCB PT Garuda Indonesia Persero continued
On 10 November 2009, Bank Mandiri received a letter from Bank Indonesia which stated that Bank Indonesia has no objection on the proposed settlement plan of Garuda’s MCB by converting the MCB into Bank Mandiri’s temporary investment in Garuda. On 30 December 2009, Bank Mandiri and Garuda signed the MCB Settlement Agreement based on Notarial Deed No. 272 dated 30 December 2009 in front of Notary Aulia Taufani S.H., as the substitute of Notary Sutjipto S.H. On the signing date, Garuda made cash payments of 5.00 of MCB principal, amounting to Rp50,940 and converted the remaining MCB balance of 95.00 of MCB principal into Bank Mandiri’s investment in Garuda’s share, amounting to Rp967,869 or equivalent to 967,869 shares equivalent to 10.60 ownership. In accordance with Letter of Minister of State Owned Enterprises’, the investment in Garuda’s shares can be divested in conjunction with Garuda’s planned Initial Public Offering IPO which is expected to be done in 2011. Based on regulation of Capital Market Supervisory Board and Financial Institution No. IX.A.6, Appendix of the Decree of the Chairman of Capital Market and Financial Institution Supervisory Board No. 06PM2001 regarding Restriction on Shares Issued Prior to Public Offering, the divestment of Garuda’s shares by Bank Mandiri can only be done if the Registration Statement of IPO of Garuda is submitted more than 6 six months after the date of conversion of MCB into temporary investment. In December 2010, Garuda has submitted its Initial Public Offering IPO registration to the Capital Market Supervisory Board and Financial Institution Bapepam-LK and it has became effective in February 2011. Through this IPO, Garuda offered 9.3 billion shares or 36.48 of the total issued shares, which consists of 7.4 billion new shares and 1.9 billion Bank Mandiri’s shares in Garuda after stock split. See Note 60b Subsequent Events for Completion of Garuda’s IPO. As at 31 December 2010 and 2009, this temporary investment in Garuda’s shares is not recorded in the Bank’s consolidated balance sheet instead it is recorded as an extra-comtable account Notes 11B.m and 60.58. GOVERNMENT GUARANTEE FOR THE OBLIGATIONS OF LOCALLY INCORPORATED BANKS
Based on the Decree of the Minister of Finance of the Republic of Indonesia No. 26KMK.0171998 dated 28 January 1998, as amended by Decree of the Minister of Finance of the Republic of Indonesia No. 179KMK.0172000 dated 26 May 2000, the Government of the Republic of Indonesia guarantees certain obligations of locally incorporated banks including demand deposits, saving deposits, time deposits and deposit on call, bonds, securities, interbank loans, fund borrowings, foreign currency swap transactions and other contingent liabilities such as bank guarantees, standby letters of credit and other liabilities, excluding subordinated loans and obligations to directors, commissioners and parties that have a special relationship. In accordance with the Joint Decree of the Chairman of the Board of Directors of Bank Indonesia and IBRA No. 3246KEPDIR and No. 181BPPN0599 dated 14 May 1999, the term of these guarantees have been extended automatically, unless IBRA issued a notification for not to extend the term of such guarantee at least 6 six months time before the expiry of that period. In 2001, the Joint Decree of the Chairman of the Board of Directors of Bank Indonesia and IBRA canceled by Bank Indonesia Regulation No. 37PBI2001 and IBRA Chairman Decision No. 1035BPPN0401. In 2001, the Chairman of IBRA issued Decree No. SK-1036BPPN0401 that regulated specific guidelines for the Government of the Republic of Indonesia guarantees on the obligations of locally incorporated banks.Parts
» FS Bank Mandiri Tbk 311210 Eng Final opini
» 735,266 24,442,187 FS Bank Mandiri Tbk 311210 Eng Final opini
» Divestment of Government Share Ownership Subsidiaries Associates
» Subsidiaries and Associates continued PT Bank Syariah Mandiri
» Subsidiaries and Associates continued PT Bank Sinar Harapan Bali continued
» Subsidiaries and Associates continued PT AXA Mandiri Financial Services Structure and Management
» Structure and Management continued
» Basis of Preparation of the Consolidated Financial Statements
» Changes in accounting policies in current year continued
» Financial assets continued Financial assets and liabilities A. Financial assets
» Financial assets continued Financial liabilities
» Derecognition Financial assets and liabilities A. Financial assets
» Changes in accounting policies in current year continued iii. Classes of financial instrument
» Principles of Consolidation SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Principles of Consolidation continued
» Foreign Currency Transactions and Balances
» Transactions with Related Parties
» Transactions with Related Parties continued
» Current Accounts with Bank Indonesia and Other Banks
» Placements with Bank Indonesia and Other Banks
» Marketable Securities SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Marketable Securities continued SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Government Bonds SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Other Receivables - Trade Transactions
» Securities PurchasedSold under ResaleRepurchase Agreements
» Securities PurchasedSold under ResaleRepurchase Agreements continued
» Derivative Receivables and Derivative Payables
» Derivative Receivables and Derivative Payables continued
» Loans SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Loans continued SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Consumer Financing Receivables SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Fixed Assets and Leased Assets
» Fixed Assets and Leased Assets continued
» Investments in Shares SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Investments in Shares continued
» Allowance for Possible Losses on Non-Earning Assets
» Allowance for Possible Losses on Non-Earning Assets continued
» Acceptance Receivables and Payables
» Other Assets SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Obligation due Immediately SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Deposits from Customers SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Liability for Future Policy Benefits and Liability to Unit-Linked Holders
» Marketable Securities Issued SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Marketable Securities Issued continued
» Fund Borrowings SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» CURRENT ACCOUNTS WITH BANK INDONESIA
» MARKETABLE SECURITIES FS Bank Mandiri Tbk 311210 Eng Final opini
» DERIVATIVE RECEIVABLES AND PAYABLES
» CONSUMER FINANCING RECEIVABLES FS Bank Mandiri Tbk 311210 Eng Final opini
» ACCEPTANCE RECEIVABLES FS Bank Mandiri Tbk 311210 Eng Final opini
» POLICYHOLDERS’ INVESTMENT AND LIABILITY TO UNIT-LINKED HOLDERS
» OTHER ASSETS FS Bank Mandiri Tbk 311210 Eng Final opini
» DEPOSITS FROM CUSTOMERS - DEMAND DEPOSITS
» DEPOSITS FROM CUSTOMERS - SAVING DEPOSITS
» DEPOSITS FROM OTHER BANKS - DEMAND AND SAVING DEPOSITS
» DEPOSITS FROM OTHER BANKS - INTER-BANK CALL MONEY
» DEPOSITS FROM OTHER BANKS - TIME DEPOSITS
» ACCEPTANCE PAYABLES FS Bank Mandiri Tbk 311210 Eng Final opini
» MARKETABLE SECURITIES ISSUED FS Bank Mandiri Tbk 311210 Eng Final opini
» FUND BORROWINGS FS Bank Mandiri Tbk 311210 Eng Final opini
» ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES
» Tax expense TAXATION a. Taxes payable
» Tax expense - Current year continued
» MINORITY INTERESTS IN NET ASSETS OF CONSOLIDATED SUBSIDIARIES
» Authorised, Issued and Fully Paid-in Capital continued
» Additional Paid-In CapitalAgio SHARE CAPITAL a. Authorised, Issued and Fully Paid-in Capital
» Additional Paid-In CapitalAgio continued
» Fixed Assets Revaluation Reserve
» Distribution of Net Income continued
» Difference in Transactions of Equity Changes in Subsidiaries
» MANAGEMENT STOCK OPTION PLAN
» INTEREST EXPENSE FS Bank Mandiri Tbk 311210 Eng Final opini
» ALLOWANCEREVERSAL FOR IMPAIRMENT LOSSES
» REVERSALALLOWANCE FOR POSSIBLE LOSSES
» UNREALISED LOSSESGAINS FS Bank Mandiri Tbk 311210 Eng Final opini
» SALARIES AND EMPLOYEE BENEFITS
» GENERAL AND ADMINISTRATIVE EXPENSES
» COMMITMENTS AND CONTINGENCIES FS Bank Mandiri Tbk 311210 Eng Final opini
» IMPACT ON THE INITIAL IMPLEMENTATION OF SFAS 50 REVISED 2006 AND SFAS 55 REVISED 2006
» RELATED PARTY TRANSACTIONS FS Bank Mandiri Tbk 311210 Eng Final opini
» CUSTODIAL SERVICES AND TRUST OPERATIONS
» CHANNELING LOANS FS Bank Mandiri Tbk 311210 Eng Final opini
» Liquidity Risk Management RISK MANAGEMENT
» Liquidity Risk Management continued
» Interest Rate Risk Management
» Interest Rate Risk Management continued Pricing Management
» Market Risk Management Foreign Exchange Risk Management
» Foreign Exchange Risk Management continued
» Fair value of financial assets and liabilities
» Fair value of financial assets and liabilities continued
» Operational Risk Mitigation RISK MANAGEMENT
» Capital Charge Calculation to Cover Operational Risk
» Legal Matters SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES a.
» Value Added Tax VAT on Bank Syariah Mandiri BSM Murabahah Transactions
» Value Added Tax VAT on Bank Syariah Mandiri BSM Murabahah Financing Transactions
» Trade Financing with Asian Development Bank ADB
» Settlement Mandatory Convertible Bond MCB PT Garuda Indonesia Persero
» Settlement Mandatory Convertible Bond MCB PT Garuda Indonesia Persero continued
» GOVERNMENT GUARANTEE FOR THE OBLIGATIONS OF LOCALLY INCORPORATED BANKS
» NEW ACCOUNTING STANDARDS FS Bank Mandiri Tbk 311210 Eng Final opini
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