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t'jelle Bank (TJ😎 established its monthly financial period on the 12th of every month. We store information daily, but in order to have a better understanding of our financial standing, we compile a spreadsheet that holds financial data from every month.

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Financial Statement*

March was a splendid month for t'jelle. Despite the loss of contracts and a higher than normal default rate, the release of ERX brought in far more profit than was initially expected.

Deposits: 10,699.51 Gold
Reserves (Gold that can be spent freely): 3,338.64 Gold
t'jelle Bank Value (Holdings, Assets, and Value of Deposits): 17,604.15 Gold
Holdings+Assets: 14,557.99 Gold
Non-Interest Accruing (NIA) Gol😛 3,658.4 Gold

We have added a new field this month to our financial statement, NIA Gold. This number is important as it shows us how much Gold is simply sitting in a vault waiting to be invested.

The value of deposits is determined by dividing the total deposits by 3. The Board of Directors decided to include the value of deposits, because we realized that a bank with more deposits was worth more than a bank with less deposits since the amount of money invested in a bank determined its role in the overall economy. If we were to sell our banking operations, the total amount of Gold invested would be pivotal in the decision of the potential buyer.

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Financial Summary

Deposits increased by a little over 1,000 Gold this month which is a far smaller change from the previous month which had an increase of 3,000 Gold. t'jelle Bank's Board of Directors met multiple times in order to find a way to slow down growth and though we have no clue as to why deposits finally began to slow down, we are quite pleased. There are a few possibilities though: The advent of ERX, the loss of contracts, the decrease of interest offered for savings accounts. None of these though, would account for such a large decrease. It is possible that we have simply hit a wall, and that there aren't as many people willing to deposit into banks.

March brought t'jelle Bank 2,819.68 Gold in profit**. This is a record for t'jelle Bank and is very comforting after having numerous unlucky events (Bank Ban Day, etc) which snatched away profit. We believe that with the release of ERX and the creation of the US Federal Reserve, t'jelle Bank will finally be able to growth at a steady pace without the worries of constant financial turmoil.

Our profit this month mostly came from an increase in loans before the loss of contracts, but the largest gain was the ability to mark up the value of ERX on our balance sheets. Before the release of ERX we valued it at just 300 Gold in order to keep with our tradition of playing it safe when valuing assets. After a few days of operation though, it was clear that 300 Gold was a gross undervalue. ERX is currently bringing in total revenues of 200 Gold daily. 25% of which is given to MM2, 25% is given to the US Treasury and then t'jelle Bank keeps the next 50% or what is currently 100 Gold. We have therefore marked ERX as being valued at 3,000 Gold.

As profits across all industries decrease, it becomes harder for our borrowers to repay their debts. We continue to see a large increase in defaults and we expect that number to increase further still. Even if all our loans defaulted, we would be able to still walk away with large reserves.

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Management Information

Board of Directors:
AidenAstrup - Chairman
Anaros - COO
BigBrother
sydiot

Executive Pay:
AidenAstrup: 200 Gold (Sent to Astrup Economic Prosperity Foundation)
Anaros: 50 Gold
Rekeri: 40 Gold

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Corporate Risk Statement

As prices across all industries continue to fall, it is becoming more difficult for our borrowers to pay back their loans. If prices continue to fall and profits begin to dwindle, it may become impossible for our borrowers to pay back their loans in full, requiring us to mark down the value of our assets that come from loans.

If more than one of our vaults were banned, we could face serious financial problems resulting from the loss of capital.

If investor confidence was lost, resulting in a decrease in spending on ERX or saving in t'jelle Bank, we could face a decline in our profits.

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t'jelle Bank Information

Depositors: 241
Average Deposit: 88.7 Gold
Monthly Interest Due: 519.84 Gold

Asset Information***

Loans: 3,170.94 Gold
Federal Reserve: 4,208 Gold
Gold In Vaults: 3,658.4 Gold

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ERX Information

Gold In ERX Accounts: 13,439.64 Gold
Profit Made (As of 4/7): 956.65 Gold
Total Users: 4,880
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* Financial Statement was prepared on April 11th, numbers may have changed slightly since publishing.
** This does not include the 400 Gold loss we will incur from distributing dividends on April 13th
***Includes only the largest and most important assets. Does not include equity or value of subsidiaries.
A PDF version of this financial statement, which includes a shareholder list, can be found here.