stanbusk said:
with a possible trigger level to flag when the total with the group is greater than the compensation threshold
Can you explain that?
Each country has a limit at which they will 'compensate' for the loss of deposits/investments in any bank in accordance with that countries fiscal juridstriction.
For example, in the country called Narnia, the White Witch bank, and the Beaver bank are subject to this rule, lets assume the Narnia limit is 50000 currency units.
I have in the White Witch Bank, 40000 CU's, and in the Beaver Bank, 30000 CU's , if either or both banks go bust, I will get 100% of my CU's back, 70000 CU's, yipee, happy!!!
Now the Beaver Bank gets into financial trouble, and is absorbed by the White Witch Bank, all well and good, but is it?
The WhiteWitch Bank now goes bust, (reason, stupidity), I have 40000 + 30000 = 70000 CU's deposited with the WhiteWitch bank, so I will only, under Narnia's 'compensation' rule, get 50000 CU's back, so I loose 20000 CU's, Boo Hoo.
So, to prevent this I need to play the Defensive Banking Card, ie keep each deposit below the Narnia 'Compensation' Limit for each GROUP of banking entities,.
It would be nice if iCash could warn me if I am exceeding the 'compensation' limit, if I i add a bank to the group (see above fascinating explanation!!).
