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Mr Horizontal
Gallente
KIA Corp
KIA Alliance
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Posted - 2009.02.23 23:56:00 -
[31]
In all likelihood this won't happen. Too much of a headache to code, and personally I don't like it at all, as the books would show green one day and may go suddenly red the next. Without central banking guarantees EBANK *has* to know it's precise liabilities at any given time anyway, so really it's not a feasible thing to do imo.
Director | www.eve-bank.net |
SencneS
Amarr
Rebellion Against big Irreversible Dinks
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Posted - 2009.02.24 00:57:00 -
[32]
 Originally by: Shar Tegral
Originally by: SencneS
I got the impression Hexxx was suggesting that EBANK not consider accounts liabilities if considered inactive.
That's part of me point. If you may owe something to someone it does not matter if you never get called on to pay up. You still owe it. So just because a creditor or depositor is most unlikely to require payment/withdrawal does not mean it is not a debt. That goes into subjective reporting. (Hexxx might remember a place called "Arthur Anderson"?) PS: YGR, I don't mind you being critical of me or even trolling me however please refrain from intentional misquoting. Either replace my words with a "subjective" interpretation entirely or quote my words intact even if only a portion. Otherwise I'll have no choice but go back to ignoring you again and I honestly don't want to go back to that kind of interaction between us.
I'm not disagreeing with you, I'm suggesting you may not have fully understood what it was Hexxx was suggesting.
As a former EBANK Director you remember we all needed to know "How much did our customers own.", "How much Interest is due.", and "How much liabilities we have." I don't see anywhere in Hexxx's statement that we stop paying interest.
I would not allow that personally, I don't care what happens, if they have ISK in an interest bearing account, we pay interest even if they never collect it. Believe me, there are accounts in EBANK which will never get collected...
However that aside, what Hexxx is suggesting is given a time span, EBANK stop considering this ISK a liability. I can see an attraction to this, and a downside. Although the account would still be there, still calculating interest, and still collectible at any time. If the time comes when the person logs in and collects his account, it would take a direct hit on EBANK profits. So at the start we'd turn a sizable profit for that month, if and when the account is collected on, EBANK would consider it a decrease in profits.
Mr. H points out one downside. The other downside is it would also give artificial profits. Even if we didn't consider inactive accounts as profits, the decrease in our liabilities would also inflate our profits. Then at the time someone logs in, we'd take a very large hit in liabilities. I would fear the very small long term gain would be consumed very quickly out of our control. So I'd need some convincing before it took place.
For everyone to know, this has not been discussed on EBANK's private forums yet, so this could be Hexxx just twiddling his noodle. :)
Amarr for Life |
Thoraemond
Minmatar
Far Ranger
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Posted - 2009.02.24 01:14:00 -
[33]
Originally by: Hexxx
I'm talking about beginning to defer the recognition of that liability for accounts that haven't logged in for 12 months, not throwing it away. What I'm talking about just affects how we report our monthly interest liabilities.
If the thrust of this distinction is reporting per se, why not simply split the interest liability into two subtotals? No need to recognize it differently. It would not get sketchy unless you went a step further and attached different reserve rates or made different operational decisions based on those subtotals, surely?
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Ricdic
Caldari
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Posted - 2009.02.24 02:34:00 -
[34]
It's not a big deal. If we find it to be concerning some time in the future we could put through a BoD vote and then advise our customers that if certain conditions are met we action a forced withdrawal back to their eve accounts.
Just because someone leaves Eve doesn't give us the right to take their money left deposited or stop paying interest on it. However the right thing to do would be to return it to the person with any interest accrued and an evemail explaining why this was done.
In any case I don't see this being a requirement any time soon, I would only see it come to action in the event of EBANK closing or looking to downsize operations for some reason.
As to the Hexxx v Shar v SencneS thing you are basically all arguing the same point. Move on  |
Togen Lei
Gallente
Abyssal Heavy Industries
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Posted - 2009.02.24 08:48:00 -
[35]
Originally by: Ricdic
As to the Hexxx v Shar v SencneS thing you are basically all arguing the same point. Move on
You take all the fun out of things, watching this discussion was akin to watching pups chase each others tails. 
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