Stonk
Stonking
Posts: 735
Likes: 658
|
Post by Stonk on Apr 6, 2020 18:31:00 GMT
The RYI was requested on 13 March, from the 5 Year market. I get the feeling 5 Year is releasing faster than the other markets, and that 1 Year is slowest of all.
when was this released? Today?
30 March.
|
|
|
Post by RateSetter on Apr 6, 2020 19:01:54 GMT
Good evening everyone. Today we have delivered £0.7m. The full updated RateSetter Notice is copied below for reference.
|
|
|
Post by mitosan on Apr 7, 2020 6:07:56 GMT
Hi RateSetterThere is less information in the update than usual. Gone are the daily figures and gone is the info about where you are currently processing requests from. Please can you at least add to each update where exactly in the queue you are up to? Thanks.
|
|
alanh
Posts: 556
Likes: 560
|
Post by alanh on Apr 7, 2020 8:35:46 GMT
Hi RateSetter There is less information in the update than usual. Gone are the daily figures and gone is the info about where you are currently processing requests from. Please can you at least add to each update where exactly in the queue you are up to? Thanks. I think they have removed the daily figures to avoid the update ending up being 5 pages long
|
|
|
Post by Deleted on Apr 7, 2020 8:36:59 GMT
Hi RateSetter There is less information in the update than usual. Gone are the daily figures and gone is the info about where you are currently processing requests from. Please can you at least add to each update where exactly in the queue you are up to? Thanks. I think they have removed the daily figures to avoid the update ending up being 5 pages long Nothing to stop them including the last few days' figures ie replace oldest day with the current day.
|
|
alanh
Posts: 556
Likes: 560
|
Post by alanh on Apr 7, 2020 8:42:10 GMT
I think they have removed the daily figures to avoid the update ending up being 5 pages long Nothing to stop them including the last few days' figures ie replace oldest day with the current day. Yes agreed. I'm assuming they are going to do something like that. The last weeks figures would be enough.
|
|
|
Post by tom1 on Apr 7, 2020 9:03:27 GMT
I had a partial release of an RYI yesterday afternoon:
Market: Access Date and Time of request (I think): ~8am on 11th March Date and Time of release: 16:28 on 6th April
They released 94% of a 4 figure request.
As far as I can tell, the remaining 6% is made up of the loans which 'rolled over' yesterday.
I hope this info helps those still waiting.
|
|
|
Post by xiao on Apr 7, 2020 10:42:09 GMT
Thanks for your information, the peak day is 16th March, so my guess is another 6 month pass that date.
|
|
|
Post by tom1 on Apr 7, 2020 11:01:49 GMT
I had a partial release of an RYI yesterday afternoon: Market: Access Date and Time of request (I think): ~8am on 11th March Date and Time of release: 16:28 on 6th April They released 94% of a 4 figure request. As far as I can tell, the remaining 6% is made up of the loans which 'rolled over' yesterday. I hope this info helps those still waiting. Last 6% came today at 11:56am. I have no more RYI queued so I can't give any more data points. Hopefully others will continue to share theirs.
|
|
savernake
Member of DD Central
Posts: 174
Likes: 142
|
Post by savernake on Apr 7, 2020 11:46:50 GMT
RS have said in their earlier updates that RYI requests fluctuated throughout the week from 9th - 16th March in response to external news. I've seen it suggested elsewhere that falls in the stock market make investors panic which may have had a knock-on effect on P2P as well. I was wondering if there may be a correlation between daily stock market performance for that week and the volume of withdrawal requests. I looked at the performance of the FTSE 100 for that week:
9th March, FTSE LARGE FALL. RS took approx 2 weeks to clear RYI's from this day. 10th March , FTSE SMALL RISE. RS took approx 1 week to clear RYI's from this day. 11th March, FTSE SMALL FALL. RS currently processing RYI's from morning of this day (so far it's taken them 4 days) 12th March, FTSE LARGE FALL. 13th March, FTSE SMALL RISE. 14th, 15th March, FTSE closed for weekend. 16th March, FTSE LARGE FALL. RS have communicated that this day saw a peak in RYI requests. 17th March onwards, FTSE has stabilised and begun to slowly rise again.
Perhaps we haven't seen enough days processed yet to draw any firm conclusions, but I wouldn't be surprised if requests from 12th take a long time (similar to 9th), but requests from 13th may be processed a lot more quickly. I like to have a theory and I've got a lot of spare time on my hands at the moment.
|
|
alanh
Posts: 556
Likes: 560
|
Post by alanh on Apr 7, 2020 12:12:44 GMT
RS have said in their earlier updates that RYI requests fluctuated throughout the week from 9th - 16th March in response to external news. I've seen it suggested elsewhere that falls in the stock market make investors panic which may have had a knock-on effect on P2P as well. I was wondering if there may be a correlation between daily stock market performance for that week and the volume of withdrawal requests. I looked at the performance of the FTSE 100 for that week: 9th March, FTSE LARGE FALL. RS took approx 2 weeks to clear RYI's from this day. 10th March , FTSE SMALL RISE. RS took approx 1 week to clear RYI's from this day. 11th March, FTSE SMALL FALL. RS currently processing RYI's from morning of this day (so far it's taken them 4 days) 12th March, FTSE LARGE FALL. 13th March, FTSE SMALL RISE. 14th, 15th March, FTSE closed for weekend. 16th March, FTSE LARGE FALL. RS have communicated that this day saw a peak in RYI requests. 17th March onwards, FTSE has stabilised and begun to slowly rise again. Perhaps we haven't seen enough days processed yet to draw any firm conclusions, but I wouldn't be surprised if requests from 12th take a long time (similar to 9th), but requests from 13th may be processed a lot more quickly. I like to have a theory and I've got a lot of spare time on my hands at the moment. I would think there is a fairly high correlation between the stock market moves and RYI's that week as you say. Anyone sitting at home watching it on TV would have been influenced by the news for sure.
|
|
|
Post by scepticalinvestor on Apr 7, 2020 12:35:13 GMT
Hopefully there's a similar correlation between the recent uptick in the FTSE and the rate of RYI requests being cancelled.
|
|
|
Post by johnny on Apr 7, 2020 16:22:42 GMT
For information my 5 year has just paid back, requested the evening of the 13th. I have an access request dated the 14th which is expected in 4 weeks. I have been happy with Ratesetter since 2013 and believe they are doing everything possible without jeopardising their business. I will still be an investor but at a more manageable (risk/reward) level.
|
|
|
Post by captaincodeman on Apr 7, 2020 16:52:24 GMT
There's more than just people being spooked by the news - if the stock market has a sudden and dramatic fall there is potential to invest money so it makes sense to withdraw it from RS, where it may only be earning 3 - 5%, and get potentially significantly higher returns from the fire-sale of stock. When large blue-stock companies have 9-10% yields, it makes no sense to have your money tied up at 3% in what is possibly a much riskier investment (because of unemployment concerns).
I withdrew from RS early precisely for this reason and thankfully just beat the rush, I just have left all the under $10 loan balances which apparently you can't withdraw even with RYI (just have to wait for those to be repaid).
|
|
|
Post by Deleted on Apr 7, 2020 17:13:45 GMT
There's more than just people being spooked by the news - if the stock market has a sudden and dramatic fall there is potential to invest money so it makes sense to withdraw it from RS, where it may only be earning 3 - 5%, and get potentially significantly higher returns from the fire-sale of stock. When large blue-stock companies have 9-10% yields, it makes no sense to have your money tied up at 3% in what is possibly a much riskier investment (because of unemployment concerns). I withdrew from RS early precisely for this reason and thankfully just beat the rush, I just have left all the under $10 loan balances which apparently you can't withdraw even with RYI (just have to wait for those to be repaid). I mostly agree, although dividend levels may be cut significantly so current yields aren't really a guide (but do your own research obviously).
|
|