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0 pointsblibble1y ago0 comments

as a banker, when I first heard about that I did I wonder if they've modeled that risk correctly

it's the sort of thing that could probably wipe out their capital completely in a black swan event

0 comments

There's an ocean of historical data to predict reversal or settlement failure of ACH transactions.

I would guess that payroll credits are the second most-reliable category in the ocean of ACH transactions, right after US Treasury payments.

How black would this swan need to be to blow up this stability?

blibbleOP1y ago

not sure what american payment transfers have to do with UK BACS payments, but ok

> I would guess that payroll credits are the second most-reliable category in the ocean of ACH transactions, right after US Treasury payments.

maybe some sort of lunatic getting control of the US treasury payment systems?

I suppose that can't ever happen

quesera1y ago

This thread is "completely unrelated to this blog post" and your previous comment was responding to comments about the US ACH network.

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simonvc1y ago

It's a risk that was very much understood and it's fully covered.

blibbleOP1y ago

I've heard that one before

lol7681y ago

I mean, it's been in production for years, has a cap of £20k and I'm pretty sure the design of BACS means it's very difficult to recall a transaction after the 4pm time when the feature becomes available. Simon is probably in a very good position to know how often that sort of thing happened, if ever.

I'm pretty happy with them offering this based on my understanding of BACS, as a shareholder.

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quesera1y ago

There's an ocean of historical data to predict reversal or settlement failure of ACH transactions.

I would guess that payroll credits are the second most-reliable category in the ocean of ACH transactions, right after US Treasury payments.

How black would this swan need to be to blow up this stability?

blibbleOP1y ago

not sure what american payment transfers have to do with UK BACS payments, but ok

> I would guess that payroll credits are the second most-reliable category in the ocean of ACH transactions, right after US Treasury payments.

maybe some sort of lunatic getting control of the US treasury payment systems?

I suppose that can't ever happen

quesera1y ago

This thread is "completely unrelated to this blog post" and your previous comment was responding to comments about the US ACH network.

1 more reply

simonvc1y ago

It's a risk that was very much understood and it's fully covered.

blibbleOP1y ago

I've heard that one before

lol7681y ago

I'm pretty happy with them offering this based on my understanding of BACS, as a shareholder.

1 more reply

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