ANALISIS PENYERTAAN MODAL SEMENTARA OLEH LEMBAGA PENJAMIN SIMPANAN DI PT. BANK CENTURY Tbk

In order to meet its function to actively participate in maintaining banking system stability, Indonesia Deposit Insurance Corporation (IDIC) had rescued systematically failed bank namely PT. Bank Century Tbk (BC). The rescue started when Bank Indonesia Board of Governor Meeting decided on November 20 th , 2008 that BC was indicated as systematically failed bank and passed the same to Financial System Stability Committee known also as KSSK to do thorough analysis on the case. Furthermore, on November 21 st , 2008 KSSK decided that (1) BC was systematically failed bank and (2) to let IDIC do the bank rescue based on its power as stipulated under Law Number No.24 Year 2004 Regarding IDIC. Upon receiving such mandate, IDIC has injected Temporary Capital Investment of totaling Rp. 6.7 Trillions in several disbursements from November 24, 2008 until July 24, 2009. Investigation result by Parliament�s Inquiry Committee indicated that the Temporary Capital Investment was suspiciously engineered to fulfill BC�s request to meet its liquidity need. This can be seen by the change made by IDIC in its own regulation from No.5.PLPS/2006 to No.3/PLPS/2008 regarding Systematically Failed Bank Resolution dated December 5, 2008 which was coincided with the second Capital Investment disbursement. The type of this study is explanatory normative research. The data was collected from literature and interviews. The conclusion of this research is that the total amount of Temporary Capital Investment was needed to meet the banking healthiness level as stipulated by IDIC law article 33 i.e. to meet CAMELS criteria (Capital, Asset Quality, Management, Earning, Liquidity and Sensitivity to market risk). CAMELS should be met in all of its components and not in its individual criteria, hence the Temporary Capital Investment disbursement was not engineered simply to meet the liquidity need