Tyrian Camilo shouts: Kristopher: I am unsure of the very detailed finances of other operations. But i do expect everyone will be hit to a larger or smaller degree. Some will definately bankrupt immediately of the small ones, some will probably run, but the strongest of banks will likely survive if we can work together, survival in a form or an another.
Tyrian Camilo shouts: More deposits will help, but not required. The thing needed from clients is to remain calm. If client funds remain about the same level, or does not suddenly drop, we can continue business as usual, atleast at the parts which are not in the breach of LL policy.
Tyrian Camilo shouts: WSE operation halt, looking now came at interesting time. LukeConnell gave SOME withdrawals manually after the halt. The halt of "up-to 30days" is very interesting also. Their halts caused some impact to some operations immediately, the moment of notice. Their impact is limited however.
Luke Birdbrain: If you could be so kind, please write down that BCX and L&L Bank and Trust are also in the works for RL liscenses and for people not to panic on our behalf.
[12:37] Tyrian Camilo shouts: ONLY interest offering is affected! All other operations are still legal by LL's new policy. So other operations will continue as normal, every other financial operation.
[12:37] Tyrian Camilo shouts: I will however try to get confirmation from LL that offering loans is also legal still, or should i make a call on them before 22nd.
[12:38] Tyrian Camilo shouts: On personal note, i'm dissatisfied that LL didn't even under NDA give officially a warning about the upcoming policy, and allowed us to have an adjustment period BEFORE the new policy. Also, note that there is NO new Terms of Service as of yet.
[12:39] Tyrian Camilo shouts: No policy was made on them specifically, however, CDs are an agreement, we just can't honor the interest at the moment. I will weight in the options, and probably just end all term deposits, and put the funds back to normal accounts.