Recent content by jackal007

Martinghoul We lost touch since Jan this year regarding the base rate swap trade. I could still really use your help with that as you clearly have a far better undertanding of what i need to put in place than I do. It looks like since your message of the 11th jan expectaitons for a rate rise...

Martinhoul I now realise by advcies they simply mean the monthly advice notes, telling me what the debit is going to be that month. Ive attached the latest two, as for some reason October was the last month I received the hard copies in the post, dont know why. I also have the full amortization...

Martinhoul Received a reply from bank today with this info. 1st swap covers £340,940.52 and has a break cost of £52,000. 2nd currently covers £904,210.04 and has a break cost of £132,000; Both trades are amortising with monthly resets; They are both fixed for floating interest rate swaps...

Martinghoul Ive attached the last two swap advices I have, and emailed a few queries to the bank. Ill get back to with those answers, assuming I ever received them of ocurse. The info atatched might be enough? Jackal

Whats even worse is how they close ranks when they become a problem, and let the customer take the hit. They claim they done nothing wrong, but then inthe same breath they refsue to provide any help or support, becasue that might imply there is something to fix. Jackal

I have all the documentation here which should have everything we need. As soon as Ive had a look through it Ill send yoiu what i have Friday. Anything that may be msising Ill request from RBS treasury, although their not very good at responding. Thanks Jackal

The swap paymens are made monthly, and as I recall the amount reduces over the term so the balance now with 9 years remaining will be lower than it was over the original 15 year term. It reduces wth the loan balance. I can send an email request to the bank to provide an accurate figure for both...

Hi Martinhoul Here are the details of the two swaps. I was thinking I could sell options each month of an equivalent amount. I can’t see that they would need to be anywhere near the actual rate of the swaps, because its all about any movement in the swap markets. So if I were to sell a bunch...

I should also point out for those who think this was a customer’s creativity gone mad that all the major banks made these damn things compulsory for all large commercial loans, because they make money on them, more than if they provide the customer with a fixed rate loan. You can pay off a fixed...

Unfortunately, if it were that easy I would have done it already. Cost to unwind £300,000! I think to setup a monthly interest rate trade makes much more sense, because you would balance the exposure. It doesn’t have to be perfectly symmetrical, because any move in rates generally will have an...

I would really appreciate some help with the folliwng problem. I have some redundant base rate swaps which are just debiting around £6,000 each month, and it occured to me that I should be able to initiate an interest rate trade each month, to at least off set most of this cost, perhaps using...

Dear members I would really appreciate some help with the folliwng problem. I have some redundant base rate swaps which are just debiting around £6,000 each month, and it occured to me that I should be able to initiate an interest rate trade each month, to at least off set most of this cost...

June FTSE Option Expiry Mike I have also been on them since the expiry date and have written numerous letters (both to them and the FSA), and my complaint is now moving on to the Ombudsmen. By the way I am not particularly hopeful of a successful outcome, due to the obvious bias involved in...

June FTSE Settlement Auction Dear kriesau I was wondering if you had any more news on the June settlement issue? I have recently received notification from Liffe that the auction process was not at fault and that no manipulation took place. I have also recently discovered that the FOS does...

Bill Williams Dear osho67 I felt compelled to reply to your post as I have taken the Bill Williams course and spent time with him and his family in Texas. I subscribed to the course back in 1998 and went over to Texas in 1999, and what I can say with certainty is that it was a complete waste...