Bug - when bank holding my loan goes under, loan is forgiven... free money

[halby]

where report bug? if you hold a loan with a corp-owned bank, and that bank goes under, your loan evaporates, and you never have to pay it off... it's free money, and ruins the game to quote from investopedia "If your mortgage lender goes under, the company will normally sell all existing mortgages to other lenders. In most cases, the terms of your mortgage agreement will not change. The only difference is that the new company will assume responsibility for receiving payments and for servicing the loan." ie: i shouldn't get free money just cuz a corp own bank went under... if there are other banks they could inherit my loan, if there are no other banks, a 'government' owned bank could be created until my loan is paid off.


I know this is probably not a big deal for most players, free money could be interpreted as a good thing... But I play the game for the challenge, I enjoy losing more than winning, and it ruins an entire run when I suddenly feel like thru no fault of my own I am cheating.

[amitnageshri7]

Yes this is true - have a solution for this if the developers can implement please:

When a Bank goes under, all loans it owes must be immediately called for repayment. The Borrower will need to arrange it either by selling his assets or re-financing through another bank. This is what happens in a real life scenario, banks don't just write-off loans, they try to recover every penny by selling the borrower's assets.

For re-finance, perhaps a special option / window needs to be provided to the Borrower to quickly re-finance through another Bank. This is to be fair to the Borrower, whose loan was called back for no fault of his own.

where report bug? if you hold a loan with a corp-owned bank, and that bank goes under, your loan evaporates, and you never have to pay it off... it's free money, and ruins the game to quote from investopedia "If your mortgage lender goes under, the company will normally sell all existing mortgages to other lenders. In most cases, the terms of your mortgage agreement will not change. The only difference is that the new company will assume responsibility for receiving payments and for servicing the loan." ie: i shouldn't get free money just cuz a corp own bank went under... if there are other banks they could inherit my loan, if there are no other banks, a 'government' owned bank could be created until my loan is paid off.


I know this is probably not a big deal for most players, free money could be interpreted as a good thing... But I play the game for the challenge, I enjoy losing more than winning, and it ruins an entire run when I suddenly feel like thru no fault of my own I am cheating.

[Arcnor]

How about when a bank fails, the other banks get a chance to take it over. Similar to how the bankrupt company feature works.

[Kristo]

My suggestion:
If you have a loan contract with Bank ABC for 100mln, and the bank is going down, this bank will have these options:
1/ Ask you to repay immediately, if possible. If you do, the contract is over, the loan is repaid, end of your involvement
2/ If you can not repay in total, the contract stays as an asset. Bank ABC offers to sell it at 75-90% of the face value (in this case 75 to 90mln) to another bank in the game.
In this case, you now will still owe 100mln to a bank, just not this one.
3/ If these banks all said No, then ABC offers the contract to the Central Bank at 50% of the original value (50mln) - again, you will owe money to CB in this case.
4/ If even the CB can not buy the contract for 50% of the value, the ABC then offers it to other corporations at 30% of the value.
Unlike banks, they won't be able to collect interest, but they can ask you to repay at any moment and this time you can not say No.
Also this contract is now a corporate asset and can be sold between corporations freely at logical cost.
5/ If your loan is 10mln or less, and the loan is less than 5% of the banks combined assets, last possible option is - it's forgiven, you don't have to repay it. Free money.

[beamthegreat]

My suggestion:
If you have a loan contract with Bank ABC for 100mln, and the bank is going down, this bank will have these options:
1/ Ask you to repay immediately, if possible. If you do, the contract is over, the loan is repaid, end of your involvement
2/ If you can not repay in total, the contract stays as an asset. Bank ABC offers to sell it at 75-90% of the face value (in this case 75 to 90mln) to another bank in the game.
In this case, you now will still owe 100mln to a bank, just not this one.
3/ If these banks all said No, then ABC offers the contract to the Central Bank at 50% of the original value (50mln) - again, you will owe money to CB in this case.
4/ If even the CB can not buy the contract for 50% of the value, the ABC then offers it to other corporations at 30% of the value.
Unlike banks, they won't be able to collect interest, but they can ask you to repay at any moment and this time you can not say No.
Also this contract is now a corporate asset and can be sold between corporations freely at logical cost.
5/ If your loan is 10mln or less, and the loan is less than 5% of the banks combined assets, last possible option is - it's forgiven, you don't have to repay it. Free money.

All great ideas, but might be a bit hard to implement in the game. An easy alternative is to have the central bank take over all the loans and pay 60-70% of the face value of the loan to the failing bank.

[mdemircan2]

Merkez Bankası-makro ekonomi ilişkisinin zayıf olduğunu düşünüyorum.
Örneğin oyunda 3 banka olsun, bu bankalar bir şekilde iflas ettiğini düşünelim.
Bankaların iflaslarının makro ekonomiye etkisi net değildir.
Gerçek hayatta bankacılık sisiteminin çökmesi tüm ekonomiyi etkiler!
Ama Capitalizm Lab'da böyle olmuyor diye düşünüyorum.

I think the relationship between the Central Bank and the macro economy is weak.
For example, if there are 3 banks in the game, let's assume that these banks go bankrupt somehow.
The effect of bankruptcy of banks on the macro economy is not clear.
In real life, the collapse of the banking system affects the whole economy!
But I think this is not the case at Capitalizm Lab.

What do you think?

[rafaeltodero]

Merkez Bankası-makro ekonomi ilişkisinin zayıf olduğunu düşünüyorum.
Örneğin oyunda 3 banka olsun, bu bankalar bir şekilde iflas ettiğini düşünelim.
Bankaların iflaslarının makro ekonomiye etkisi net değildir.
Gerçek hayatta bankacılık sisiteminin çökmesi tüm ekonomiyi etkiler!
Ama Capitalizm Lab'da böyle olmuyor diye düşünüyorum.

I think the relationship between the Central Bank and the macro economy is weak.
For example, if there are 3 banks in the game, let's assume that these banks go bankrupt somehow.
The effect of bankruptcy of banks on the macro economy is not clear.
In real life, the collapse of the banking system affects the whole economy!
But I think this is not the case at Capitalizm Lab.

What do you think?

I totally agree with you. If 1 or 2 banks go bankrupt depending on your liabilities, it would be interesting to impact the economy of the city or country depending on the location of the bank branch.

In other words, if the bank is only in the city of Paris, it would be interesting if the impact was only in that city.

The greater the bank's market share, the greater the impact on the economy

[mdemircan2]

umarım David bu tartışmayı görür.

I hope david sees this discussion

[Stylesjl]

This is an interesting bug. It can lead to an exploitative practice when a company that is about to go bankrupt pauses the game - you grab as big a loan as possible - unpause. Company goes bankrupt and you don't pay anything!

I have a save file of this. Unzip the Part 2 first and then unzip the main zip to get the save file (the single save file was two big to attach so I had to do this weird split).

Basically Raid Group is about to go bankrupt the moment you unpause. Borrow some money from them, unpause and free money (in this case it is easy to see as I don't have any money to start with).