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Post by gravitykillz on Jan 4, 2020 6:12:21 GMT
So todays emailed December 2019 Statements are advising that the PF interest Coverage ratio has been reduced to 123% which is below the target of 125%!. View AttachmentNot sure if the Capital Coverage changed - I guess not. You would think with the changes made by rs to the platform they would have improved the pf. I mean evertime you log in now the access rate is 2.9%.
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Post by gravitykillz on Jan 12, 2020 17:01:37 GMT
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ashtondav
Member of DD Central
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Post by ashtondav on Jan 12, 2020 18:16:26 GMT
All known about and already reported. Personally i was happy at 6% in 5 year with the thought of a possible "haircut". Not so happy at 4% in max with a possible haircut.
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Post by ruralres66 on Feb 4, 2020 19:52:04 GMT
The Provision Fund Interest Coverage Ratio decreased by 3 percentage points in January. Interest Coverage Ratio 120% Capital Coverage Ratio 261%
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ashtondav
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Post by ashtondav on Feb 4, 2020 21:23:18 GMT
Haircut coming. Prepare. It’s inevitable. Set the rates accordingly.
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Post by Deleted on Feb 4, 2020 21:30:45 GMT
Haircut coming. Prepare. It’s inevitable. Set the rates accordingly. Care to expand on your thinking?
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alanh
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Post by alanh on Feb 5, 2020 9:09:07 GMT
Old news. Rates already set accordingly and effectively reduced a few months ago. I think some people are panicking because of the total mess LW have made of things and are assuming the same is going to happen on other platforms.
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jane
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Post by jane on Feb 5, 2020 13:28:15 GMT
Latest Ratesetter statement also stated: "Scheduled website maintenance: Between 6pm on 11th February and 6am on 12th February"
This usually means another 'feature' will be implemented that will not be in our favour - maybe finally killing off the ability to set our own rates.
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macq
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Post by macq on Feb 5, 2020 13:32:21 GMT
Latest Ratesetter statement also stated: "Scheduled website maintenance: Between 6pm on 11th February and 6am on 12th February"
This usually means another 'feature' will be implemented that will not be in our favour - maybe finally killing off the ability to set our own rates. Don't give em ideas - hopefully its just that time of the year again when they try a new shade of Purple
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aju
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Post by aju on Feb 5, 2020 14:23:42 GMT
Latest Ratesetter statement also stated: "Scheduled website maintenance: Between 6pm on 11th February and 6am on 12th February"
This usually means another 'feature' will be implemented that will not be in our favour - maybe finally killing off the ability to set our own rates. Don't give em ideas - hopefully its just that time of the year again when they try a new shade of Purple I vote for a bright pink on yellow , please! Mind you if it takes 12 hours to implement then it might be a bit more adventurous than just a colour change
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wapping35
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Post by wapping35 on Mar 30, 2020 12:11:10 GMT
I see the March PF figures are now in. Coverage ratio down to 113% as at March 1..Feb 1 was 117%.
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Post by scepticalinvestor on Mar 30, 2020 13:55:43 GMT
I see the March PF figures are now in. Coverage ratio down to 113% as at March 1..Feb 1 was 117%.
1st March 2020. Ah, the good old days....
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Post by Ace on Mar 30, 2020 14:24:19 GMT
I see the March PF figures are now in. Coverage ratio down to 113% as at March 1..Feb 1 was 117%. For the last 4 months the Interest Coverage Ratio (ICR) at the start of each month has been: Dec 123% Jan 120% Feb 117% Mar 113% And this is with RS trying to maintain an ICR of 125%! So, if the Coronavirus hadn't caused a lockdown, we were looking at interest haircuts from about July (assuming they would wait for the PF to run dry before cutting the interest). Given the current lockdown etc, I can't see how they will be able to avoid the haircut beyond about May.
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Post by Deleted on Mar 30, 2020 14:41:28 GMT
It may not be as bad as that eg my Access RYI has a rate of over 7% but may be relent at around 3% giving more profit for RS which it can direct to the PF (or not).
On the other hand, cash is down again from 8.25m to just under 7m.
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r00lish67
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Post by r00lish67 on Mar 30, 2020 14:42:27 GMT
I see the March PF figures are now in. Coverage ratio down to 113% as at March 1..Feb 1 was 117%. Obviously we're now speculating as to what the optimal sunshine position for the deckchairs on the titanic would have been a few days after it hit the iceberg, and this somewhat takes much interest out of this analysis..but what the hey... PF being down £1.3m is way too much. That's £2.9m in 3 months. It doesn't need a statistician to point out that at that rate, with there being £7m left, we'd have been talking this October in terms of running out of PF cash. Moving on from a now non-existent view, what now? What the heck kind of predictions do their committee make now about expected future income and losses? TBH, I think the ICR is even less relevant then it was before. It's fundamental basis is a nice steady set of PF contributions to offset a nice steady set of PF losses. Previously, losses had started to significantly exceed contributions (far more than their predictions implied), but now there's presumably going to be an awful lot of unexpected future losses moved into the present in the form of loan forbearance. Hopefully they're working on very cunning plan to make things vaguely equitable, and in the meantime I think they're doing a great job at releasing people's investments where possible. If they come out of the other side of this, I'll be keen on re-investing.
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