JPMorgan Penalised for Downgrading Indonesian Bond Rating

[kreslik.news]

Finance Magnates learned today that Indonesia has penalised JPMorgan Chase after its research arm recommended a smaller exposure to the country’s sovereign bonds, as per a Reuters report.

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Suahasil Nazara, head of the finance ministry’s fiscal policy office, commented: “After we did a comprehensive review, we said no need to use JPMorgan’s services as a primary bond dealer and a perception bank”.

Perception Bank

A 2006 government decree says a perception bank is one appointed by the finance minister to receive transfers of state revenue not related to ... (read more)