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JPMorgan returns to Indonesia’s good grace

Indonesia reinstates US bank as a primary dealer of government bonds

JPMorgan returns to Indonesia’s good grace

Indonesia is reappointing JPMorgan as a primary dealer of government bonds almost a year and a half after the US bank was kicked out of the business over a negative research report.

The finance ministry said in a statement Monday that America’s largest bank by assets would be a primary dealer again beginning May 2 along with 19 other banks and financial institutions. It did not give a reason for the reinstatement. The ministry had previously said the bank would be eligible to reapply after 12 months of sitting out.

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