Boediono trail in Century

Bambang Soesatyo

Boediono trail in Century

By : Bambang Soesatyo
Member of Parliament Timwas Century

The reason the global economic crisis that is always used in the rescue of Bank Century Boediono as a bank failure can have a systemic impact , with testimony terpatahkkan JK who was as acting president because SBY is in the U.S. .

Previously unknown , on 30 October and 3 November 2008 , Century Bank filed Repro Facility Assets (later addressed by BI into FPJP ) . Rp1 trillion . Century Bank 's request was denied .
According to the BI analysis , the Capital Adequacy Ratio ( CAR ) of Bank Century by only 2.35 percent positive . Still far below the minimum CAR to obtain loans stated in Rule BI 10/26/PBI/2008 , ie 8 percent .

In order to outsmart the rules , the BPK said that on November 14, 2008 Bank requirements CAR deliberately changed the rules by replacing a minimum number of at least 8 percent to 0 percent , or " positive " only.

But the facts show the BPK findings , that the capital position of Bank Century at the time of binding FPJP , fell to negative 3.53 percent . Thus, with the help of the CAR condition that any changes in the Bank Century in fact it still does not qualify for FPJP .

On the other hand , the CPC also noted FPJP liquefaction process ( credit ) for Rp.689 billion worth of Bank Century in just unusual . Ie, less than 5 hours to make the date and hour backward or not the time is not actually on the notary and the melting time is also not uncommon , which is Friday night at 20.35 pm . ( Note : the signing of a written deed credit AKAT , 14 November 2008 at 13.30wib .
Century House of Representatives Special Committee fact finding signer performed on November 15 , 2008 at 2:00 dawn ) . That is , by virtue of the power of melting FPJP BI governor Boediono as the three BI officials , conducted before the parties sign a binding credit AKAT .

The next CPC findings , delivery guarantees or collateral value performed a week later . Even then, the value is not in accordance with the provisions stipulated in the regulation of BI , ie below 150 percent .
Unfortunately again , later known as the BPK , that some collateral to get FPJP delivered the Bank Century worth Rp 467.99 billion manifestly unsafe . However , Boediono , as leader of the meeting when it approved a fixed chortled FPJP for Bank Century .

It was a matter of FPJP . How about a bailout ?

Turns Rp.689 billion worth of funds FPJP Boediono disbursed to Bank Century , in a short time runs out . Century Bank back colaps .
For the . Bank Century rescue again , secretly at night 20 November 2008 , in a word after a long process and a fierce debate in making excuses or plausible arguments to back help Century , signed a letter numbered Boediono 10/232/GBI/Rahasia Failed Bank on the Determination of Status of PT Bank Century Tbk and Handling Follow-up .

In the letter , among others, mentioned that one way to boost the bank's capital adequacy ratio Century of negative 3.53 percent (as of October 31, 2008 ) became positive 8 percent is to inject fresh funds as Temporary Equity ( STD ) of Rp 632 billion .

The letter then discussed in " consultation meeting " held before the meeting of the Financial Sector Stability Committee ( KSSK ) on the same night . After " consultation meeting " which followed a number of officials and policy makers fiscal and financial services sector , Boediono and Sri Mulyani KSSK Meeting held until dawn the next day , 21 November 2008 .

In a " consultation meeting " before the meeting in the building KSSK Juanda , Ministry of Finance at the turn of the complex that night , Boediono be the most stubborn defense of the status and way out Century Bank deems necessary .

The trail can be traced Boediono adamant attitude of transcripts of recorded conversations " consultation meeting " and minutes of official documents " consultation meeting " which circulated widely in the community at the end of 2009 .

Within minutes of " consultation meeting " thick five- page it is mentioned that a meeting led by Sri Mulyani opened eleven minutes past midnight on 21 November 2008 .
Also mentioned that a special meeting was held to discuss the proposals in order of Bank Century BI BI given the status of " the Bank Suspected Impact of Systemic Failure " raised its status to " Failed Bank which Systemic Impact " .

Boediono get the first opportunity to present the problems being faced by the Bank Century .

Sri Mulyani was the first to comment on recommendation Boediono . He said that the reputation of Bank Century during this , since its establishment in December 2004 from the merger of Bank Danpac , CIC Bank , and Bank Pikko , is not good .
 Then Sri Mulyani asked that the other participants of the meeting to comment on the advice Boediono .

Fiscal Policy Office ( BKF ) , for example , rejected the BI assessment over the Bank Century . According to BKF , " given the systemic risk analysis is not yet supported BI and scalable enough data to state that Century Bank could pose a systemic risk . Also according to BKF , BI analysis is more analysis " psychological effects . "

The attitude of the Capital Market Supervisory Agency ( Bapepam ) was almost identical . Taking into account the size of the Bank Century is not large , financially Century Bank will not pose a significant risk to other banks .

" So the more systemic risk to the psychological impact . "

But Boediono hang on to his opinion. And in the end he not only won the battle in the closed meeting . But also managed to convince Srimulyani as chairman KSSK menandatangaani approval for the bailout of Rp.632miliar at 5 o'clock Saturday morning November 22, 2008 .

Question interestingly , what happens after the bailout agreement signed Srimulyani ? Only in the past two days, Saturday and Sunday . Monday morning already tergelontor of LPS pockets around Rp2 , 7triliun . How can a holiday on the day , no clearing , Century could burst trillions ? That perhaps explains why Srimulyani then angry and feel cheated by the BI .

Then if after temper tantrum at a meeting with the entire BI and LPS officials including central bank governor Boediono as as revealed in the meeting minutes, transcripts and recordings of the meeting , Century Bank funding to stop ? Apparently not . Burglary continues, from late November 2008 just before the April 2009 legislative elections . Until the post- election presidential and vice presidential elections in June 2009 with a total withdrawal Rp.6 , 7triliun .