Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
2004-10-18
2009-06-02
Cheung, Mary (Department: 3694)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S03600T, C705S037000
Reexamination Certificate
active
07542933
ABSTRACT:
A certificate of deposit (“CD”) portfolio system and method to attract institutional investors through dealers to CD issuing small to medium sized community deposit taking institutions. The central entities of the system include a system operator and a system clearing house. The system operator contacts and signs up the institutions to become a part of the system. These institutions are community banks that are too small to individually attract institutional investors. It also contacts and signs up dealers and then unitizes FDIC insured CD's into single investment instrument portfolios which the dealers then market to their institutional investor clientele. The clearing house is in communication with the system operator, the institutions and the dealers to act as an agent facilitating transactions by issuing the CD's, handling funds, settling transactions, and acting as custodian/trustee for all transactions. The invention includes a system operator controlled internet website to provide access to information to for the use of CD issuing banks, the system clearing house, the system operator and the dealers. In effect the invention creates a meeting place for small banks to pool their FDIC insured CD's together into single investment instrument portfolios large enough to attract institutional investors at favorable interest rates because of the credit enhancement resulting from full FDIC insurance of the portfolio. This is achieved because the system and method prevent exceeding the $100,000.00 FDIC insurance limit per investor per bank.
REFERENCES:
patent: 5631828 (1997-05-01), Hagan
patent: 2002/0091621 (2002-07-01), Conklin et al.
New York Times article Merrill to Aid Sale of Bank C.D.'s published May 12, 1981, p. D4, retrieved from Proquest, Jun. 4, 2008.
Cheung Mary
Fertig Brian
Institutional Deposits Corp.
Van Der Wall Robert J.
LandOfFree
Certificate of deposit portfolio system and method does not yet have a rating. At this time, there are no reviews or comments for this patent.
If you have personal experience with Certificate of deposit portfolio system and method, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and Certificate of deposit portfolio system and method will most certainly appreciate the feedback.
Profile ID: LFUS-PAI-O-4061804