JPMorgan Answer of Post Disconnect Contract by Sri Mulyani; As of January 1, 2017, JPMorgan Chase Bank is no longer a partner of the Ministry of Finance in any case.
The decision was taken after JP Morgan research titled ‘Trump Forces Tactical Changes‘ on 13 November 2016 is considered disturbing the stability of the national financial system.
“The effects to our clients is not great, and we are still in touch with the Ministry of finance-related issue,” JPMorgan spokesman said in an email received Reuters.
Due to the termination of the contract by Sri Mulyani, JPMorgan will have to lose some positions. The first is as a primary dealer or dealer Bond (SUN).
Directorate General financing and Risk Management (Ditjen PPR), update the list of Primary Dealers in State (SUN) and participants of the Islamic country’s Securities Auction (SBSN) as a follow-up letter, the Finance Minister Sri Mulyani, number S-1006/MK. 08/2016 17 November 2016.
JPMorgan last time following an auction of SUN on November 8, 2016 for series SPN03170209 and SPN12171109 with the indicative target of IDR 10 trillion and maximum of IDR 3 trillion. Next JPMorgan also lost its position specifically for Global Bond issuance.
Then JPMorgan is not included in the list for the reception of perception bank tax on tax forgiveness programs or tax amnesty.
The Government felt during this JPMorgan toying Indonesia. The Government already gave a warning, but JPMorgan considered doing the same thing repeatedly.