[Defunct] Businesscraft Federal Banking Agency Guide

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Luxaholic

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Senior Administrator
Prime Minister
BusinessCraft Federal Banking Agency

This is a central bank which will provide insurance for loans given by banks on BusinessCraft! Banks may now pay for insurance on loans to protect themselves from players failing to pay back their loans. Player owned bank accounts will also be insured to protect banks from failing to pay back bank accounts.


Obtaining insurance - Banks only


Here are a few things to go over before applying for insurance.
  1. The bank must exist for a minimum of two weeks prior to applying and must have a forum post.
  2. Total account value is the total amount of Krunas in accounts and loans given by the bank at time of application.
  3. The maximum amount insurance provided will be ⅓ the total account value.
    1. (Ex. 15,000Kru total account value = 5,000Kru insured.)
  4. The insurance rate is a 1:100 ratio.
    1. (Ex. 5,000Kru insured = 50Kru paid per month for insurance.)

Format for Application:



In order for applications to be considered, submission of applications must contain the information requested in the format below. Submit applications via forum private message including the Treasurer, Economy Minister and Prime Minister.
Username:
Playtime:
Bank name:
Bank creation date:
Current total account value:
Requested coverage amount (Max ⅓ total accounts):
Other:

Banks are encouraged to keep the treasury up to date on changes with account values to accurately pay and receive the correct amount of insurance. Changes in account value are to be communicated with the Treasurer or Economy Minister.
 
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