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Thread Statistics | Show CCP posts - 1 post(s) |
EBANK Ricdic
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Posted - 2008.03.14 05:50:00 -
[1]
Hi guys subject says it all. We have recieved a lot of requests for larger limit accounts to avoid people needing to use alts to expand their account sizes etc.
Old Savings Account Limit = 500,000,000
New Savings Account Limit = 3,000,000,000
Old Checking Account Limit = 1,000,000,000
New Checking Account Limit = 6,000,000,000
Our current EBANK max capacity is still at 250b. This has not yet changed however is under consideration by the board at this time
A vote passed yesterday authorising this change and the coding has been implemented so it is available immediately. There is only one condition to this change. Withdrawals of over 3b may be delayed for up to 3 days. We will endeavour to process all withdrawals immediately but at certain times may be required to call on our reserve funds (hence the possible delays).
We hold a lot of funds on hand to cover withdrawals however this disclaimer is to ensure we can get reserve funding in if need be. To date we have never needed to call on our reserves (totalling approximately 70b) and don't believe we will ever need too.
Our terms and conditions will be updated shortly, as well as our disclaimer as to amounts over 3b in the "withdraw funds" page.
A final note. Due to yesterday's extended downtime, the API key was disabled by CCP and they have advised it will be turned back on after downtime today. This isn't an issue as our systems will just process all deposits over the past few days when it comes back online, however anyone depositing isk before downtime today won't see the funds in their EBANK account for this reason (for the next few hours).
Thanks for your time. Please feel free to discuss the changes as you see fit.
Friendly EBANK Tip: As Selene D'Celeste has mentioned. Depositing 3 billion isk into a savings account with EBANK generates almost enough interest to pay for a 90d GTC each quarter. It's a nice way to have your invested funds pay for your gametime.
http://www.eve-bank.net Please visit your user settings to re-enable images.[/url] |
Kylar Renpurs
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Posted - 2008.03.14 05:57:00 -
[2]
Edited by: Kylar Renpurs on 14/03/2008 05:57:45
Not meaning to be pedantic and all that jazz, end of the day I really don't care, but weren't EBank announcements going to come out in the monthly 'newsletter'?
Or am I just being daft, and should press the red X here and get back to my work
On an aside, cool :)
Please visit your user settings to re-enable images.
Improve Market Competition! |
EBANK Ricdic
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Posted - 2008.03.14 06:25:00 -
[3]
hehe it was supposed to be one per month but we felt this should be a clear announcement. Otherwise we have been strictly adhering to our 1 post per month routine
http://www.eve-bank.netPlease visit your user settings to re-enable images.[/url] |
Jackie Fisher
Perkone
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Posted - 2008.03.14 12:07:00 -
[4]
A big jump in one go in ceilings but nice all the same. Now we just need CCP to get the API up again!
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LaVista Vista
Conservative Shenanigans Party
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Posted - 2008.03.14 12:09:00 -
[5]
 Originally by: Jackie Fisher
A big jump in one go in ceilings but nice all the same. Now we just need CCP to get the API up again!
As the post says, the limit is still 250bill. So from what i gather from it, at this point, having ebank reached a thousand users, they are trying to scale trough the individual accounts, instead of having more accounts. Wise move if you ask me.
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Hexxx
Sebiestor tribe
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Posted - 2008.03.14 12:10:00 -
[6]
Originally by: Kylar Renpurs
Edited by: Kylar Renpurs on 14/03/2008 05:57:45
Not meaning to be pedantic and all that jazz, end of the day I really don't care, but weren't EBank announcements going to come out in the monthly 'newsletter'?
Or am I just being daft, and should press the red X here and get back to my work
On an aside, cool :)
Yeah, this is an exception. We felt that it was such a big change to the fundamental account functionality and with it affecting over 1,000 users....it needed to be disclosed promptly.
So...two EBANK threads a month! Seriously though, we are still trying to keep this to an absolute minimum.
Director | www.eve-bank.net
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Block Ukx
KDM Corp
Firmus Ixion
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Posted - 2008.03.14 12:32:00 -
[7]
With 1,000 accounts thatĘs a potential 9 Trillion ISK. I understand you currently have a 250 B cap, but there is nothing to stop you from telling us next month that the cap has been increased to 1 Trillion.
I imagine the cap is related to your ability of delivering 3% monthly interest rates. Have you done an analysis to determine your expected returns as a function invested ISK and time? IĘll be very interested is reading such analysis.
BSAC Mineral Market Manipulation (MinMa) Information Desk |
EBANK Ricdic
Eve-Tech Savings n Loans
Zzz
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Posted - 2008.03.14 13:02:00 -
[8]
Block our stats page should show how we are currently utilising isk in terms of interest paid compared to loan interest earned. That's just the start of it. We also have 20b in public corporation shares earning considerable monthly dividends that aren't listed on that page.
Finally, I have just completed a NAV spreadsheet which has been required by Hexxx for a while now but I haven't had time to do it. I am sure Hexxx will be more than happy to post this (obviously not in as much detail as current) which should detail where our money has been placed (ie loans > bonds > private investments > subsidiaries etc) and most notably to show how much reinvested growth EBANK has had over the past 5 months (I believe we are close to 20b of reinvested profits).
On a final final note.
EBANK tellers in total currently have approximately 27b on hand to action withdrawals.
Currently pending EBANK loan requirements currently total 97 billion isk. Now we haven't yet filtered loans that will fail yet, however my approximate determination is that 70b of those requests will meet EBANK acceptable loan status (secured etc).
Now, could we utilise 1 trillion isk tomorrow? No we couldn't. However we have the capability right now to handle another 70b. In order to reach our next cap (250b) this requires an additional 70b approximately.
It is quite likely our overall cap will be increased over the next month, as our loans demand is far outstripping isk deposits. We aren't at the point of increasing interest rates yet, and don't want to release more bonds until we have our bonds systems properly in place.
Therefore this change gives our customers some leeway in their depositing habits. We find it highly unlikely that any more than a very small portion of our customers (under 50) would max out their savings accounts but the total account cap will ensure we can handle this as it comes through.
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EBANK Ricdic
Eve-Tech Savings n Loans
Zzz
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Posted - 2008.03.14 13:11:00 -
[9]
Edited by: EBANK Ricdic on 14/03/2008 13:11:35
edit:double post
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Hexxx
Sebiestor tribe
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Posted - 2008.03.14 13:57:00 -
[10]
Originally by: Block Ukx
With 1,000 accounts thatĘs a potential 9 Trillion ISK. I understand you currently have a 250 B cap, but there is nothing to stop you from telling us next month that the cap has been increased to 1 Trillion.
I imagine the cap is related to your ability of delivering 3% monthly interest rates. Have you done an analysis to determine your expected returns as a function invested ISK and time? IĘll be very interested is reading such analysis.
In terms of time; most of our time is dedicated to dealing with loans, withdraws, and EBANK processes/functionality.
null
And yes, there is something to stop us from raising our cap to 1 trillion; and that's the Board. We will be raising our cap again soon (as Ricdic mentioned) but it won't be to 1 trillion isk just yet.
EBANK has been very successful so far, and based on the data I've gotten so far from our NAV and the data from our cashflow reports...we've got a buffer of nearly 20 billion built up against defaults and IPO scams. This is going to start to grow by probably 9 to 10 billion per month (based on my projections) and I anticipate us being able to handle LARGE defaults or IPO collapses within 2 or 3 months with a 40 to 50 billion isk buffer (we're not there yet though).
Yes, EBANK is growing at a speedy pace but we've been very careful about it and I can personally say I'm still comfortable with how everything is going so far.
My personal goal (should the Board approve) is for us to handle over 1 trillion isk. This would mean a potential 800 million in commericial money (loan money, see my posts on monetary policy for reference) which gives a total theoretical money supply (m1 by US standards) of 1.8 trillion, which means at that point, EBANK would be handeling 2% to 3% of the "active" money supply based on the most recent money supply data.
Having an impact such as this is why I work on EBANK and why I want to see it be as stable, as strong, and as healthy as possible.
Director | www.eve-bank.net
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Minerva Vulcan
The Nexus Foundation
Endless Horizon
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Posted - 2008.03.14 14:19:00 -
[11]
Have the limits been updated to the website yet? I seem to be having trouble transfering between accounts at the moment.
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EBANK Ricdic
Eve-Tech Savings n Loans
Zzz
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Posted - 2008.03.14 14:47:00 -
[12]
Originally by: Minerva Vulcan
Have the limits been updated to the website yet? I seem to be having trouble transfering between accounts at the moment.
It's a bug. It has been reported to Hexxx who is on the case now Something about the values not before being possible so this was a byproduct of the cap increase or something. I am not sure but Hexxx can explain if need be. Otherwise, it should be fixed shortly
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Hexxx
Sebiestor tribe
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Posted - 2008.03.14 14:57:00 -
[13]
Originally by: EBANK Ricdic
Originally by: Minerva Vulcan
Have the limits been updated to the website yet? I seem to be having trouble transfering between accounts at the moment.
It's a bug. It has been reported to Hexxx who is on the case now Something about the values not before being possible so this was a byproduct of the cap increase or something. I am not sure but Hexxx can explain if need be. Otherwise, it should be fixed shortly
Bug squashed.
Our account limits were being handeled as default integer datatypes which were of insuffecient capacity to handle the new limits.
I've switched them to Int64 datatypes which can handle the new numbers we're using.
If anyone's interested in what that actually looks like...
Quote:
Dim toCheckingAccountLimit As Int64 = Int64.Parse(System.Configuration.ConfigurationManager.AppSettings("CheckingDepositLimit").ToString())
Dim toSavingsAccountLimit As Int64 = Int64.Parse(System.Configuration.ConfigurationManager.AppSettings("SavingsDepositLimit").ToString())
Director | www.eve-bank.net
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LaVista Vista
Conservative Shenanigans Party
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Posted - 2008.03.14 15:01:00 -
[14]
Originally by: Hexxx
Quote:
Dim toCheckingAccountLimit As Int64 = Int64.Parse(System.Configuration.ConfigurationManager.AppSettings("CheckingDepositLimit").ToString())
Dim toSavingsAccountLimit As Int64 = Int64.Parse(System.Configuration.ConfigurationManager.AppSettings("SavingsDepositLimit").ToString())
Holy **** dude, we are gonna get hacked now!!! 
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Hexxx
Sebiestor tribe
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Posted - 2008.03.14 15:11:00 -
[15]
Originally by: LaVista Vista
Originally by: Hexxx
Quote:
Dim toCheckingAccountLimit As Int64 = Int64.Parse(System.Configuration.ConfigurationManager.AppSettings("CheckingDepositLimit").ToString())
Dim toSavingsAccountLimit As Int64 = Int64.Parse(System.Configuration.ConfigurationManager.AppSettings("SavingsDepositLimit").ToString())
Holy **** dude, we are gonna get hacked now!!!
I don't normally post code snips but this one is interesting because it shows a bit of the design principles that we use to develop EBANK; abstraction of application settings, etc.
Director | www.eve-bank.net
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Jackie Fisher
Perkone
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Posted - 2008.03.14 15:15:00 -
[16]
Originally by: Hexxx
Dim toCheckingAccountLimit As Int64 = Int64.Parse(System.Configuration.ConfigurationManager.AppSettings("CheckingDepositLimit").ToString())
Dim toSavingsAccountLimit As Int64 = Int64.Parse(System.Configuration.ConfigurationManager.AppSettings("SavingsDepositLimit").ToString())
All your COBOL are belong to us.
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Tylri Gajin
Federal Navy Academy
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Posted - 2008.03.14 18:53:00 -
[17]
Bit of a n00b here. I went to your site and read the News, T&C, and FAQ. There didn't seem to be any difference between the Checking and Saving save interest rates. I didn't a seperate fees table. What are the difference?
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Hexxx
Sebiestor tribe
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Posted - 2008.03.14 19:03:00 -
[18]
Originally by: Tylri Gajin
Bit of a n00b here. I went to your site and read the News, T&C, and FAQ. There didn't seem to be any difference between the Checking and Saving save interest rates. I didn't a seperate fees table. What are the difference?
The interest rates and the topic of this thread are the only differences.
Director | www.eve-bank.net
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Jaarlax
Ratty Corp PLC
Confederation of Independent Corporations
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Posted - 2008.03.14 19:24:00 -
[19]
Holy free cash batman
to the ebankmobile!!
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CCP Mitnal
C C P
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Posted - 2008.03.15 05:17:00 -
[20]
*Locked*
Please use an existing thread to make this kind of announcement.
Mitnal,
Community Representative
EVE Online
CCP Games
Email/Netfang |
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