54 trillion was extended in the form of BLBI to 48 banks.
The obligation to repay the BLBI was subsequently put on the shoulders of the majority shareholders in the problem banks.
BII was not a BLBI
recipient and, as such, it was not liquidated nor frozen by the Government.
The improvement was recorded mainly after May 1999 when the bank was still burdened with BLBI
The hottest case of BLBI is the one that involved Bank Bali.
Bank Indonesia, which provided the BLBI fund, is in the center of the controversy.
The drastic decrease in interest payment in 1999 is due to fact that the BLBI
that has required payment of an interest at a rate of 64.
However, as the distribution of BLBI to needy banks continued, certain parties allegedly took advantage of the panicky situation.
As per January 1999, the total amount of the BLBI distribution was Rp 164.
According to some information, the combined amount of BLBI
(Bank Indonesia Liquidity Credit) that had been extended to these banks had reached Rp 43 trillion or three times as high as the combined value of their assets which they had provided as collateral (Rp 14.
In connection with the interbank claims to the 38 frozen banks, which resulted from the provision of the BLBI and bridging loans, IBRA has taken over their assets, whose combined book value is Rp 46.
legal advisers, who assist IBRA in conducting such processes as bank merger, recapitalization, and restructuring and in negotiating with the shareholders of banks handed over to the agency which have bleached the Maximum Lending Limits or misused the BLBI, in restructuring the debtors' debts, and in selling assets;