Equityworld Futures – The Ministry of Finance (Kemenkeu) break the contract with JPMorgan Chase Bank. The Bank of United States origin (USA) was no longer in touch with the Government of Indonesia.
According to the Director of strategy and Portfolio Debt Ditjen PPR, Schneider Saberi, Government break the contract because it felt mocked by JPMorgan. During this time, said Schneider, JPMorgan strategic position as a primary dealer of Government Indonesia bond sellers.
Supposedly, advanced Schneider, published research could steer investors to buy the bonds, not the other way around. Schneider saw no indication of wilful JPMorgan profit doubled. “It’s her conflict of interest.
He is the agent of a primary dealer, khan should be able to find buyers SBN, kok even recommendations are selling, where investors want to buy. Right of our loss. Behind that secretly she bought on the cheap and then selling SBN again.
Kan we so toys he’s it, “he said in the short message to the media, on Wednesday (4/1/2016). So the Government’s allegations, JPMorgan deliberately gave low ratings against a letter of government debt so that not many investors are interested or even remove it. Well, after that JPMorgan then hold bonds that investors removed for safekeeping and later removed again to rake in profits.
JPMorgan Chase Bank is apparently not the first time lowered the debt ratings of RI. Before the latest research on November 13, 2016 and then, j.p. Morgan also had issued a year earlier research that suggested that investors sell their holdings of government debt Indonesia.
The Government is already quite well just by giving the warning several times. But again repeated, so that finally the contract of partnership for all relations with the Government of Indonesia were severed. “What happened has already repeatedly and had to be reminded to JPMorgan but still diterusin it,” said Schneider.
The Government of Indonesia through the Ministry of Finance (Kemenkeu) still opens the opportunity for JP Morgan Chase Bank to again become partners of cooperation according to previous function.
As long as the JP Morgan could already be considered viable by the Government. “Until we say decent,” said Robert Pakpahan, Director General of the management and Financing of risk Kemenkeu in the building of Djuanda, Kemenkeu, Jakarta, Monday (3/1/2017). Like JP Morgan seen from the mechanism of research undertaken, in which able to produce accurate data.
On the other hand can also demonstrate the efforts of mutual support and benefit each other. “He pulled out not because of its impact, but because it’s not credible and accurate,” he said.
JPMorgan lost its position as a primary Dealer in State (SUN) and participants of the Islamic country’s Securities Auction (SBSN), underwriter of Global Bond and the bank’s perception. “He can apply again, but later we value,” says Robert.