Article
Day 269, 23:06
Article #9
Today, I am announcing a fundamental change in Capital Investment Bank, which will be expressed in two sections, restructuring and renaming.
First of all, let me say that Capital Investment Bank has been doing good. Loans have been being repaid, and bonds are scheduled to be paid back. However, due to the structure of investment banking, CIB has not been able to keep up with demand for loans, which means we need to get more capital. Which means that we need to start accepting deposits.
This leaves us with two options to stay profitable: large increase to the interest on loans, or the elimination of bonds. The elimination of bonds is the easier route.
With the above changes, the bank is really no longer an investment bank. As such, it is simply silly to continue calling it Capital Investment Bank. Therefore, I am announcing today, day 269, the creation of Central Commercial Bank.
Central-it is based in Central USA.
Commercial-it is now a commercial bank
Bank-surprisingly enough, it is a bank.
So, how will this new bank work?
First of all, let me reassure anyone with a CIB bond. It will be assumed by CCB, and you will be repaid same as CIB would have paid you.
Now, onto business. The loan policy will be similar to CIB, but with some small changes:
Must be an American citizen
The purpose of the loan must be to upgrade an existing company to Q3 or higher
Loans will be paid back in full, with interest, 30 days after the loan is taken out
10% interest, over the 30-day period, will be charged
Military Unit leaders may also take out a loan, following these same requirements
Current Maximum Loan:50 Gold
Contracts will be involved
Having at least 50% of the funds needed will give you priority over those who do not
Now, onto deposits. We will be offering deposits in the form of CDs, Certificates of Deposit. They work in the following way:
Your deposit will be "locked up" for 30 days, meaning that you cannot access it
After 30 days, you will receive your entire deposit, plus interest, back
Currently, interest on all CDs is 6%
Minimum deposit is 5 Gold
Contracts will be used to guarantee deposit safety
Also, in an effort to make things easier for me, forms will be used to apply for loans, and to open a CD. You can use this form to apply for a loan, and this form , to open a CD.
Happy banking!
Sir Hypnotoad,
CEO, Central Commercial Bank
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[CIB] Bonds for Sale! (13 years ago)
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Closing Down CCB (13 years ago)
About the game:
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Take part in numerous events for the E-Sim community.
