bg
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Post by bg on Mar 31, 2020 11:32:28 GMT
I was wondering if I could extrapolate from the data how many people have money queued for withdrawal from the Access accounts. The best way I thought to do this was with the repayment of the £3.1m from loan #597 since this is the largest repayment since the freeze. £2.4m(*) of this loan was held by the access accounts.
On 25 May there was £213,991,000 in the access accounts at 12.01am. At 10am the invested percentage of these accounts (ie amount invested in loans) was 97.31% and this fell to 96.22% at 11am. Investors with withdrawal requests in were credited £90.73 at 11.17am (well this was my time stamp). This means that the cash level in the access accounts increased by 97.31% - 96.22% = 1.09% which is £2,332,501. The loan repaid £2.4m(*) to these accounts and so £68k was used for repayments. If every account with a withdrawal request received £90.73 then that implies there were around 750 such requests in place.
* - annoyingly when I checked the access account holding just before repayment I noted £2.4m which is a rounded number so the actual number will be slightly different.
My initial reaction to this is that the number seems far too low, but now I think about it, it may not be. I would still imagine most investors are click and forget and are probably not aware that they can't access their funds (I know lots of people like this).
Opinions welcome.
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sl75
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Post by sl75 on Mar 31, 2020 11:55:12 GMT
... loan #597 .... £2.4m(*) of this loan was held by the access accounts. ... * - annoyingly when I checked the access account holding just before repayment I noted £2.4m which is a rounded number so the actual number will be slightly different. By my reckoning the access accounts held £2484178.579
On a downloaded loan book (which had the relevant loan on line 126), the following excel formula gave this: =10000/MODE(H:H)*H126
It works because the most common precise holding of loans in the access accounts is exactly £10,000
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agent69
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Post by agent69 on Mar 31, 2020 12:19:58 GMT
So "All existing QAA, 30 Day Access Account and 90 Day Access Account withdrawal requests are still queued in the order they were requested, and their position will be honoured" but "all queue members will be treated equally"
Weasel words if ever I heard them
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bg
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Post by bg on Mar 31, 2020 13:16:54 GMT
... loan #597 .... £2.4m(*) of this loan was held by the access accounts. ... * - annoyingly when I checked the access account holding just before repayment I noted £2.4m which is a rounded number so the actual number will be slightly different. By my reckoning the access accounts held £2484178.579
On a downloaded loan book (which had the relevant loan on line 126), the following excel formula gave this: =10000/MODE(H:H)*H126
It works because the most common precise holding of loans in the access accounts is exactly £10,000
Thanks but you can work out the exact amounts by doing a download of your loan holdings in the access accounts, working out the % invested in each loan and multiplying it by the total money in the access accounts. Your calculation just gives a rough approximation. I would have rounded the number to the nearest £100k so it would have been between £2.35m and £2.44m. I download my QAA holdings every 15mins and work this out for the entire loan book but do not store in a database.
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sl75
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Post by sl75 on Apr 1, 2020 12:37:02 GMT
By my reckoning the access accounts held £2484178.579
On a downloaded loan book (which had the relevant loan on line 126), the following excel formula gave this: =10000/MODE(H:H)*H126
It works because the most common precise holding of loans in the access accounts is exactly £10,000
Thanks but you can work out the exact amounts by doing a download of your loan holdings in the access accounts, working out the % invested in each loan and multiplying it by the total money in the access accounts. Your calculation just gives a rough approximation. On the contrary, multiplying by the total money [that you can see] in the access accounts is the rough approximation.
As was identified last time this was discussed a few months ago, there are some promotional access accounts that are only visible to people who signed up under certain promotions, and so do not form part of the total you'd get by adding QAA + 30DAA + 90DAA balances.
MODE(H:H) gives the value that appears most frequently in that column, which, at time of writing, corresponds to loans with EXACTLY £10,000 of investment in the access accounts' portfolio (to as many decimal places as Excel can cope with). With all holdings scaled to that factor you'll see many other "surprisingly" round numbers, which I felt gave some insights into how AC manage the portfolio behind the scenes...
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picnicman
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Post by picnicman on Apr 1, 2020 13:22:06 GMT
According to a post from the CEO on another thread, £500k was due today which would be available to cash - nothing so far and nothing yesterday either hmmmmmmm! Cheers P
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jlend
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Post by jlend on Apr 1, 2020 16:38:44 GMT
I was wondering if I could extrapolate from the data how many people have money queued for withdrawal from the Access accounts. The best way I thought to do this was with the repayment of the £3.1m from loan #597 since this is the largest repayment since the freeze. £2.4m(*) of this loan was held by the access accounts. On 25 May there was £213,991,000 in the access accounts at 12.01am. At 10am the invested percentage of these accounts (ie amount invested in loans) was 97.31% and this fell to 96.22% at 11am. Investors with withdrawal requests in were credited £90.73 at 11.17am (well this was my time stamp). This means that the cash level in the access accounts increased by 97.31% - 96.22% = 1.09% which is £2,332,501. The loan repaid £2.4m(*) to these accounts and so £68k was used for repayments. If every account with a withdrawal request received £90.73 then that implies there were around 750 such requests in place. * - annoyingly when I checked the access account holding just before repayment I noted £2.4m which is a rounded number so the actual number will be slightly different. My initial reaction to this is that the number seems far too low, but now I think about it, it may not be. I would still imagine most investors are click and forget and are probably not aware that they can't access their funds (I know lots of people like this). Opinions welcome. According to AC there are this many accounts in each access account QAA 15,227 30DAA 10,227 90DAA 7,308 750 sounds low, but we know from comments from other platforms that the majority of lenders are choosing to stay. Many lenders will manage multiple accounts in each access account (themselves, partner, mother etc) which will have a bearing on what is going on.Then there are ISA and non ISA accounts to complicate things. Also there will be some 30DAA and 90DAA requests that are yet to hit the queue which may or may not be very significant. The numbers make me think there are circa 16k? active accounts in total on AC out of 38,370 accounts. It is never clear how representative posters on this forum are...
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lpa
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Post by lpa on Apr 1, 2020 16:51:56 GMT
According to a post from the CEO on another thread, £500k was due today which would be available to cash - nothing so far and nothing yesterday either hmmmmmmm! Cheers P Probably needed to pay the monthly interest?
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Post by giammy on Apr 1, 2020 17:18:15 GMT
How much it could have been withdrawn from a Quick Access Account since this new regime started?
I read less than 10£ a day, 120£ for the total period?
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Post by jasonnewman on Apr 1, 2020 17:24:33 GMT
I've just had 4x£234.68 (IFISA 90DAA, Standard 90DAA/30DAA/QAA) dumped into my cash accounts at 18.05
Edit: I wonder if it's due to the £2.5m repaid recently by loans #628 and #686
GOOD!!!! That makes me very happy they are releasing some of the cash...…...Keep going please stuartassetzcapital chris
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Post by giammy on Apr 1, 2020 17:30:55 GMT
I've just had 4x£234.68 (IFISA 90DAA, Standard 90DAA/30DAA/QAA) dumped into my cash accounts at 18.05
Edit: I wonder if it's due to the £2.5m repaid recently by loans #628 and #686
Edit2: And I managed to dump a property loan paying 6.5% without discounting
you mean the appropriation is per account and not per person?
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alanh
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Post by alanh on Apr 1, 2020 17:34:53 GMT
I've just had 4x£234.68 (IFISA 90DAA, Standard 90DAA/30DAA/QAA) dumped into my cash accounts at 18.05
Edit: I wonder if it's due to the £2.5m repaid recently by loans #628 and #686
Edit2: And I managed to dump a property loan paying 6.5% without discounting
you mean the appropriation is per account and not per person? Surely thats "gaming the system" isn't it Assetz? Allowing somebody to have multiple withdrawals across different accounts? Take his money back immediately!! Give it to someone else!!
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Post by Harland Kearney on Apr 1, 2020 17:36:23 GMT
you mean the appropriation is per account and not per person? Surely thats "gaming the system" isn't it Assetz? Allowing somebody to have multiple withdrawals across different accounts? Take his money back immediately!! Give it to someone else!! Bruh.
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Post by giammy on Apr 1, 2020 17:38:01 GMT
In fact, that was in the play rule "the amount to be distributed equally amongst all lenders on a per withdrawing account basis."
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victors
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Post by victors on Apr 1, 2020 17:39:40 GMT
I've just had 4x£234.68 (IFISA 90DAA, Standard 90DAA/30DAA/QAA) dumped into my cash accounts at 18.05
Edit: I wonder if it's due to the £2.5m repaid recently by loans #628 and #686
Edit2: And I managed to dump a property loan paying 6.5% without discounting
you mean the appropriation is per account and not per person? Hardly seems fair. Someone withdraws funds from 30DAA to QAA and gets half as much as someone who leaves it in 30DAA. It would be fair if 30DAA had to wait until all QAA pool/queue withdraw requests had been met. But they just join the same pool after 30 days. How do I move some of my QAA to 30DAA and 90DAA?
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