Welcome to the Mclowd Community Newsletter

Denmark’s third-largest lender said on Tuesday that customers with balances over DKr7.5m ($1.1m) would be charged a default rate of 0.6 per cent a year.
Denmark’s Jyske Bank imposes negative interest rates, ft.com Aug 31st


While for now they are selective (as to geography and asset class), negative yields continue to spread throughout the global financial system, and now encompass:

  • Sovereign bonds
  • Mortgage-backed securities
  • Deposits

The fact that Danish deposit holders are now seeing their capital extinguished in such a systematic fashion should be a red flag to all investors, because there is scant evidence to support the hypothesis that other asset classes are somehow immune from this process.

Accounting Software Update

Delivery against targets is driving a ramp up in engagement from all active users. In fact, managing the volume of feedback is one of our current challenges (but nonetheless consistent with our Community-driven governance structure).

Speaking of his participation in this process, Practitioner Paul Fox from Super Factory had this to say:

“I recently suggested an improvement to the GL Report, and was impressed when the update appeared in the system just four days after my request.

The ongoing improvements are helping me to manage funds on Mclowd more efficiently, and as always at ultra-low cost.”

(Details of September deliverables will be provided in the upcoming User Updates).


An asset management universe in which nominal yields are evaporating will necessitate ultra-low cost solutions (that the assets would generate a low or negative yield does not lessen the compliance burden, but it will absolutely impact on the ability to pay for that compliance).

Ideally it would provide a scalable, cloud-based technology platform, alongside a transparent and competitive marketplace for related services and products.

If anyone knows of a such a solution, please let me know…


Ashley Porter

Managing Director
Mclowd Pty Ltd