iRobot
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Post by iRobot on Jul 30, 2020 9:15:57 GMT
First of AC's FCA mandated outcomes statements (9th December 2019 - 31st March 2020) now available: LINK |
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ashtondav
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Post by ashtondav on Jul 31, 2020 7:30:05 GMT
Hmmmmm.
sept-dec report should be interesting as furlough will have stopped and true Covid default rates become clear.
we are currently in the quiet before the storm. Although I’m not withdrawing I’m on the sidelines until December - unless I can buy on the SM at a tasty discount.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 31, 2020 7:48:28 GMT
Hmmmmm. sept-dec report should be interesting as furlough will have stopped and true Covid default rates become clear. we are currently in the quiet before the storm. Although I’m not withdrawing I’m on the sidelines until December - unless I can buy on the SM at a tasty discount. AIUI reports are annual, so you'll have a bit of a wait
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iRobot
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Post by iRobot on Jul 31, 2020 9:30:15 GMT
Hmmmmm. sept-dec report should be interesting as furlough will have stopped and true Covid default rates become clear. we are currently in the quiet before the storm. Although I’m not withdrawing I’m on the sidelines until December - unless I can buy on the SM at a tasty discount. AIUI reports are annual, so you'll have a bit of a wait That's also my understanding. Must admit, I was surprised by it only being a partial year. Maybe AC confirmed with the FCA that it was acceptable to adopt that approach. I can't imagine it would have been too much extra effort for AC to have produced a Statement for the full financial year. Kinda makes me curious as to how the two would compare ...  Talking of comparisons, here's Folk2Folk's Outcomes Statement released a few weeks back. Somewhat more comprehensive. (And yet still only taking up 4 pages ...   ) Which now has me asking why the FCA didn't just mandate what should be reported but also how it should be reported to ensure consistency across the sector. Maybe there are too many dissimilarities between platforms to make that a feasible proposition. Maybe the FCA just didn't want the overhead of policing / enforcing such a directive.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 31, 2020 9:58:31 GMT
AIUI reports are annual, so you'll have a bit of a wait That's also my understanding. Must admit, I was surprised by it only being a partial year. Maybe AC confirmed with the FCA that it was acceptable to adopt that approach. I can't imagine it would have been too much extra effort for AC to have produced a Statement for the full financial year. Kinda makes me curious as to how the two would compare ... Talking of comparisons, here's Folk2Folk's Outcomes Statement released a few weeks back. Somewhat more comprehensive. (And yet still only taking up 4 pages ... ) Which now has me asking why the FCA didn't just mandate what should be reported but also how it should be reported to ensure consistency across the sector. Maybe there are too many dissimilarities between platforms to make that a feasible proposition. Maybe the FCA just didn't want the overhead of policing / enforcing such a directive. Personally I think ACs is much better as its cleaner & clearer. There is just too much info in F2F and picking out the relevant facts involves reading. AC just says here what we predicted, here is what happened ... its better than expected. Only thing it needs is a link to the other related areas like their more detailed default figures, PF coverage and rate changes/fees info Next question is who else has done one, or more importantly should have? Edit I see AC have just provided another mandatory FCA report - use of PF to pay interest during a quarter
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