chris1200
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Post by chris1200 on Jul 30, 2020 18:24:37 GMT
I might try to take an ever so slightly less pessimistic position but yes, it's more than a little concerning... (Edit: It's not normally been as high as £1m, no. It was higher today due to that extra £500k arriving yesterday evening.) [Everyone reading, if you're in the A/P/M queue and are curious about this - and haven't done so already - please do write a note to RS to ask for a per-market breakdown of daily RYI deliveries to be provided!]
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robski
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Post by robski on Jul 30, 2020 18:28:31 GMT
So just htinking ahead, 5YR could be done soon, I may its seemingly chugging through the queue now
What are RS going to do when thats done, their RYI number will plummet if they dont do something
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ceejay
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Post by ceejay on Jul 30, 2020 18:29:34 GMT
Over the last week the 5Y "being worked on" date has moved forward 11 days, or roughly 1.5 weeks. They're now just (!) three months behind on RYI requests in that market. At this rate (cue all the usual caveats) the 5Y RYI queue might, in a matter of months, finally catch up with itself, at which point one might imagine that more will be available elsewhere.
If RS are making the obvious prioritisation, they might switch to the 1Y, or they might not, because by that time there won't be many live 1Y loans left, in which case the APM RYIs might pick up.
This is several months into the future, and therefore subject to an infinite number of uncertainties, but there is at least a possibility that the current dismal rate of APM RYIs is not there forever.
That said, my small Access holding will expire naturally in 24 months from now and I'd be astonished if that ever gets to the front of the queue!
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aju
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Post by aju on Jul 30, 2020 18:39:57 GMT
I mean the funds that you think your are seeing will not be what goes to RYI requests. I think the daily lending and borrowing etc is automatic and I think the RYI that is being funnelled off to pay lenders through RYI is being processed through probably manually by RS. How is RYI processing funded? Through investor re-investments and new money investments. What happens when an investor re-invests funds or invests new money? These funds appear on the market data screen in the 'Investor' column. The point is not that all these funds are used for RYI processing, it's that this is the available pool of cash which could be used for RYI processing each day. What other way do you think the funds for RYI processing are provided? [Maybe I'm wrong, but I think you might be getting confused with the 'Borrower' side of the table which - yes, as discussed at length above with robski - it seems may not represent RYI requests] One of the things that makes think its not in either list is as I said earlier, I think I did anyway. So the RYI returned each day does not appear in the Weekly Volume which shows how much has been returned and then passed back on to the market. My theory is that showing the amount for return to the RYI is not part of the market anymore. At present the theory is that the RYI that is reported daily can be added to the Weekly volume reported to get the total amount moving around the system. My belief that it does not show on Market screen as its not relevant to the lenders and the borrowers probably never see it - I am not one so I cannot confirm that last part. I don;t know this but it makes sense to me that as RYI is essentially money leaving the system then neither active lenders of active borrowers need to see it as it irrelevant to the essence of the market screens and what they provide to a lender. As I say its irrelevant to a borrower as there is no reason to understand it. When I was a lender and an active ratesetter the values in the borrowers info was of very little help and to be honest they fluctuated mostly on 3 or 4 rates that were mostly under the lender rates on offer. Where this info was useful was being able to spot where the lender rates were being sucked up and at what rate to then start seeing where there were opportunities to make further higher rates offers - I changed rates upwards 10 times one day it was had to keep up and even harder to judge not to take it too far as well and miss the money. This usually happened at the weekends as others have commented but sometimes there was a midweek blip I guess from teh system stalling in some way. Now if the RYI pre covid numbers were in there then it would never be that interesting as numbers would have been inconsequentially small anyway and since they are not offers at a rate they don't fit the lenders or the borrowers side IMHO. I'm not sure I made much sense there but long and short is I'm convinced that money going to RYI on a daily basis is creamed off from monthly returns before it reaches the market screens probably in proportion to available funds since the man at the top committed to a 50% overall split but I guess over the whole period not on a single weekly basis hence the odd numbers up and down in comparison.
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robski
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Post by robski on Jul 30, 2020 18:56:21 GMT
To my mind the borrowers dont show up, but the lenders do
Yesterday you could clearly see matching going on on the 5 year but there were no borrower offers
When I used to watch the same thing happen back in the days of Rolling and 3 year then later in 5 if there was big matching going on you would see the lender funds going but no change to the borrower, then eventually the lender would stop moving and poof the borrower sum would disappear. This was exactly the behaviour I saw yesterday however there was no borrower sum to clear against
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chris1200
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Post by chris1200 on Jul 30, 2020 18:58:55 GMT
aju , I think we're talking at cross-purposes here. You are talking about 'RYI money', 'amount to return for the RYI' etc.. What robski and I are talking about is the pool of money that investors are putting up for investment every day - before RYIs even come on the scene at all. This pool is the only possible source of money for channeling to RYI processing (even if this happens off the market; even if it happens on the Moon!). As far as I'm aware, whenever an investor puts such money up for investment, it immediately appears on the market screens at the selected rate (unless you match a borrower's rate, then I guess it immediately matches). So we can see how much is available each day. There is no other way for funds to identify themselves for possible channeling to RYI processing without being put on the market. Is there a specific part of the above that you don't agree with?
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robski
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Post by robski on Jul 31, 2020 7:30:40 GMT
Looking early (I think processing is complete) 5 Year £240k up to and inc 6% , so I would say £200K+ in 5 year, unlikely to be £300k as that would require a big chunk of 6.1% and thats not been matched ever via RYI from what I can tell
APM I would say right now max is £400K, but thats before any lending, if lending is decent I can see APM being zero today
I can see today being lowest ever if yeatserdays lending in APM was anything to go by
Positive for those willing to allow some reinvestment in that rates seem to be able to spike more now
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Post by Deleted on Jul 31, 2020 8:15:04 GMT
I can see today being lowest ever if yeatserdays lending in APM was anything to go by tbh, I would expect this just by virtue of it being the 31st, and not falling on a weekend... 5/12 months wont originate loans that repay on a 31st after all...
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chris1200
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Post by chris1200 on Jul 31, 2020 8:19:18 GMT
I can see today being lowest ever if yeatserdays lending in APM was anything to go by tbh, I would expect this just by virtue of it being the 31st, and not falling on a weekend... 5/12 months wont originate loans that repay on a 31st after all... Yes indeed. Seemingly very little for them to work with in A/P/M today. Only £200k available at the standard going rates.
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robski
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Post by robski on Jul 31, 2020 8:45:20 GMT
Yep agree its always a funny one at the end of the month, I am more interested to see what the rates do today than the amount of release However as noted, I think the chances of anything being RYI from APM today is very low
I think those that seem to think there is some way magically RS are going to release lareg amongst when there isnt investors funds are going to be very disappointed today
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robski
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Post by robski on Jul 31, 2020 9:52:41 GMT
APM queue steadily being eroded as it was yesterday it seems. Small lender offers coming and going.
I just found that the stats page updates in real time. So if I can spot the RYI processing in 5 year it should be possible to confirm / deny if the weekly lending does or doesn't include the RYI (I dont think it does personally) There is low enough activity on the platform that £200k or so would be visible or not in those numbers
THis semi feelings, semi data based on what we are seeing, but to me its looking like new lending is roughly balancing out APM during normal levels of money coming back in from borrowers, and as such the only times your likely to see real movement in APM queue is when there a big lumps of APM repayments, which is likely just the start of the month?
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beagle
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Post by beagle on Jul 31, 2020 10:09:55 GMT
Just a positive message for all those still waiting for their investments to be released. Had just over £150k in various holdings pre Covid. Just withdrawn the last bits after the final few requests reached the front of the respective queues. Just got £120 worth of sub £10 bits left now. Been with RS since the earliest days and have great respect for what they achieved, what they offered me in returns and additionally how they have dealt with this situation and kept us informed etc. I think the new queue position indicator is a sign of how they have gone above what they perhaps needed to do. It is telling that my final statement shows I gained nearly £50,000 in interest in my time with them. My money is now earning mostly between 0.75% and 1% elsewhere. Thank you RS it was great for so very long. Fingers firmly crossed I escape AC with a similar sum so painlessly. any contracts under 10 pounds that are technically due (as in processing date) you can ask them for. i have and they did it super fast. if that is all that you have left and its not alot - give it a go and get a clean slate.
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aju
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Post by aju on Jul 31, 2020 10:14:31 GMT
APM queue steadily being eroded as it was yesterday it seems. Small lender offers coming and going. I just found that the stats page updates in real time. So if I can spot the RYI processing in 5 year it should be possible to confirm / deny if the weekly lending does or doesn't include the RYI (I dont think it does personally)There is low enough activity on the platform that £200k or so would be visible or not in those numbers THis semi feelings, semi data based on what we are seeing, but to me its looking like new lending is roughly balancing out APM during normal levels of money coming back in from borrowers, and as such the only times your likely to see real movement in APM queue is when there a big lumps of APM repayments, which is likely just the start of the month? I think this was spotted a while back by benaj , the weekly lending does not include RYI (5 days funding)as if one looks at the dailies from RS on this page where I show the monthly volumes (7 days funding) it shows that on the week commencing 13/4 there was only £3.39M for WV and £5.1M for RYI and there was same in week commencing 20/4 as well.
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chris1200
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Post by chris1200 on Jul 31, 2020 10:38:52 GMT
any contracts under 10 pounds that are technically due (as in processing date) you can ask them for. i have and they did it super fast. if that is all that you have left and its not alot - give it a go and get a clean slate. Sorry - just to confirm for my own benefit - are you saying you got to the front of the RYI queue and you were able to get RS to process contracts with less than £10 remaining too?
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beagle
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Post by beagle on Jul 31, 2020 10:44:12 GMT
any contracts under 10 pounds that are technically due (as in processing date) you can ask them for. i have and they did it super fast. if that is all that you have left and its not alot - give it a go and get a clean slate. Sorry - just to confirm for my own benefit - are you saying you got to the front of the RYI queue and you were able to get RS to process contracts with less than £10 remaining too? i have had this before and they did it no issues. I am not at the front right now but a very good friend was ( Monday) and they sorted exactly this for him. he had circa 140 pounds and they resolved the matter and that was that (took a day or so)
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