Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2009-02-03
2009-10-13
Kramer, James A (Department: 3693)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
Reexamination Certificate
active
07603307
ABSTRACT:
A computer-implemented method of processing large deposits that exceed an established deposit insurance limit is provided so that the large deposits are fully insured. The large deposits are received by a plurality of unaffiliated banks from their depositors. A processor receives orders placed by the plurality of unaffiliated banks to process the large deposits. The processor partitions each of the large deposits into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit. The processor assigns at least some of the deposit portions to at least some of the unaffiliated banks for deposit therein. In this manner, at least some of the unaffiliated banks that place orders to process large deposits also receive deposit portions from other unaffiliated banks that place orders to process large deposits.
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Kramer James A
Panitch Schwarze Belisario & Nadel LLP
Poe Kevin
Promontory Interfinancial Network LLC
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