Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2011-03-29
2011-03-29
Patel, Jagdish N (Department: 3693)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S035000, C705S042000
Reexamination Certificate
active
07917433
ABSTRACT:
An automated method and computer program product are provided for processing a large deposit that exceeds an established deposit insurance limit so that the large deposit is fully insured. The large deposit is received from a depositor by a first one of a plurality of unaffiliated banks. A processor receives an order placed by the first unaffiliated bank to process the large deposit. The first unaffiliated bank offers a first set of deposit terms to a first depositor. The processor assigns a portion of the large deposit not exceeding the established deposit insurance limit to a second one of the plurality of unaffiliated banks. The second unaffiliated bank offers a second set of deposit terms to a second depositor. The processor calculates the amount of a present value payment to be transferred between the first unaffiliated bank and the second unaffiliated bank to compensate for differences between the first and second sets of deposit terms.
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Panitch Schwarze Belisario & Nadel LLP
Patel Jagdish N
Poe Kevin
Promontory Interfinancial Network LLC
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