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JT Financial / SL CapEx Interest Rate Reduction
In accordance with our plans, we are making what should be our final interest rate cut for the rest of the year. Effective Friday, September 21st at 12pm SLT, the interest rate on consumer accounts at JTF/CapEx will decrease to 0.1% daily.

Now with over L$80,000,000 on deposit, JT Financial must make sure its rates are in line with the standards observed to protect customer accounts while generating sufficient profits. We are also making plans to release bonds and high-yield deposits around late October of this year in response to these rate changes.

This is actually a drop of 0.02% daily, which equates to an interest differential of 20 Linden dollars a day on a deposit of L$100,000. Now, a L$100,000 deposit would make L$100 per day.

JT Financial had planned to do this before, and with roughly US$288,808 on deposit... I imagine the float must be pretty high. At the old rate, JT Financial would be paying L$96,000 a day in interest. At the new rate, this is now L$80,000. That is only a US $57 difference; with that much on deposit they will be paying about US$288 per day. But since this is a combined JT Financial/SLCapEx rate reduction, it is possible the numbers are off.

With numbers like that flying around, it is pretty clear that the Ginko Financial issues have not had too high of a toll on SLCapEx. With about one month to go to see what happens with those Ginko Perpetual Bonds...

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