Systems and methods for credit line monitoring
First Claim
1. A method for tracking bank credit lines and borrowing against the bank credit lines using a Credit Line System coupled to a centralized database, wherein the bank credit lines are established between a borrower and at least one bank, said method comprising the steps of:
- tracking credit ratings of a first bank;
requesting the first bank to establish a line of credit for the borrower;
accessing a centralized database to obtain and maintain information regarding the established line of credit including the credit ratings of the first bank, a total credit line, an amount drawn on the established line of credit, an interest rate on the established line of credit, and commitment fees associated with the established line of credit;
automatically transmitting domestic and international wire information for cash movement to the first bank to facilitate repayment by the borrower of the amount drawn on the established line of credit and to ensure timely payment by the borrower of commitment fees associated with the established line of credit;
monitoring the established line of credit based on the credit ratings of the first bank;
calculating an eligibility factor for the borrower based on information stored in the database, the eligibility factor indicating at least one of a likelihood that the first bank would increase the established line of credit with the borrower and a likelihood that a second bank would establish a new line of credit with the borrower; and
posting journal entries to a general ledger of the borrower including borrowings against the established line of credit, repayments made toward the established line of credit, and commitment fees paid for the established line of credit for financial monitoring, reporting and auditing purposes.
1 Assignment
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Accused Products
Abstract
In one embodiment, the present invention is a method and a system for tracking bank credit lines and borrowing. The method involves tracking credit ratings of a bank, requesting the bank to establish a line of credit, accessing a centralized database to obtain and maintain information regarding the line of credit, automatically transmitting domestic and international wire information for cash movement to the bank, and finally posting borrowing journal entries to a general ledger for financial monitoring, reporting and auditing purposes. The method and the system are capable of handling multi-currency transactions involving domestic and international banks.
123 Citations
44 Claims
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1. A method for tracking bank credit lines and borrowing against the bank credit lines using a Credit Line System coupled to a centralized database, wherein the bank credit lines are established between a borrower and at least one bank, said method comprising the steps of:
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tracking credit ratings of a first bank;
requesting the first bank to establish a line of credit for the borrower;
accessing a centralized database to obtain and maintain information regarding the established line of credit including the credit ratings of the first bank, a total credit line, an amount drawn on the established line of credit, an interest rate on the established line of credit, and commitment fees associated with the established line of credit;
automatically transmitting domestic and international wire information for cash movement to the first bank to facilitate repayment by the borrower of the amount drawn on the established line of credit and to ensure timely payment by the borrower of commitment fees associated with the established line of credit;
monitoring the established line of credit based on the credit ratings of the first bank;
calculating an eligibility factor for the borrower based on information stored in the database, the eligibility factor indicating at least one of a likelihood that the first bank would increase the established line of credit with the borrower and a likelihood that a second bank would establish a new line of credit with the borrower; and
posting journal entries to a general ledger of the borrower including borrowings against the established line of credit, repayments made toward the established line of credit, and commitment fees paid for the established line of credit for financial monitoring, reporting and auditing purposes. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A method for tracking bank credit lines and borrowing against the bank credit lines using a Credit Line System coupled to a centralized database, wherein the bank credit lines are established between a borrower and at least one bank, said method comprising the steps of:
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automatically transmitting domestic and international wire information for cash movement to a first bank to facilitate repayment by the borrower of an amount drawn on the established line of credit and to ensure timely payment by the borrower of commitment fees associated with the established line of credit;
processing information utilizing a credit line module, a borrowing module to maintain borrowings from the bank, and a journal entry module;
monitoring the line of credit established with the first bank based on credit ratings of the first bank;
calculating an eligibility factor for the borrower, the eligibility factor indicating at least one of a likelihood that the first bank would increase the established line of credit with the borrower and a likelihood that a second bank would establish a new line of credit with the borrower;
creating journal entries including borrowings against the established line of credit, repayments toward the established line of credit, and commitment fees paid for the established line of credit; and
posting the journal entries to a general ledger of the borrower to record transactions for facilitating preparations of financial statements. - View Dependent Claims (10, 11, 12, 13, 14)
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15. A system for tracking bank credit lines and borrowing against the bank credit lines using a Credit Line System, wherein the bank credit lines are established between a borrower and at least one bank, said system comprising:
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a server system, a client system configured with a browser, and a centralized database coupled to said server system, said server system connected to said client system, said server system configured to;
track credit ratings of a first bank;
access the centralized database to obtain and maintain information regarding a line of credit established between the borrower and the first bank including the credit ratings of the first bank, a total credit line, an amount drawn on the established line of credit, an interest rate on the established credit line, and commitment fees associated with the established line of credit;
automatically transmit domestic and international wire information for cash movement to the first bank to facilitate repayment by the borrower of the amount drawn on the established line of credit and to ensure timely payment by the borrower of commitment fees associated with the established line of credit;
monitor the established line of credit based on the credit ratings of the first bank;
calculate an eligibility factor for the borrower based on information stored in the database, the eligibility factor indicating at least one of a likelihood that the first bank would increase the established line of credit with the borrower and a likelihood that a second bank would establish a new line of credit with the borrower; and
post journal entries to a general ledger of the borrower including borrowings against the established line of credit, repayments made toward the established line of credit, and commitment fees paid for the established line of credit for financial monitoring, reporting and auditing purposes. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22)
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23. A system for tracking bank credit lines and borrowing against the bank credit lines using a Credit Line System, wherein the bank credit lines are established between a borrower and at least one bank, said system comprising:
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a server system, a client system configured with a browser, and a centralized database coupled to said server system, said server system connected to said client system, said server system configured to;
automatically transmit domestic and international wire information for cash movement to a first bank to facilitate repayment by the borrower of an amount drawn on the established line of credit and to ensure timely payment by the borrower of commitment fees associated with the established line of credit;
monitor the line of credit established with the first bank based on the credit ratings of the first bank;
calculate an eligibility factor for the borrower based on information stored in the database, the eligibility factor indicating at least one of a likelihood that the first bank would increase the established line of credit with the borrower and a likelihood that a second bank would establish a new line of credit with the borrower; and
process information contained in the centralized database utilizing modules comprised of;
a credit line module to maintain credit lines;
a borrowing module to maintain borrowings from the bank; and
a journal entry module, said journal entry module integrated with the credit line module and the borrowing module to process information to create journal entries including borrowings against the established line of credit, repayments made toward the established line of credit, and commitment fees paid for the established line of credit, and post the journal entries to a general ledger of the borrower for facilitating preparations of financial statements. - View Dependent Claims (24, 25, 26, 27, 28, 29, 30)
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31. A computer program embodied on a computer readable medium for tracking bank credit lines and borrowing against the bank credit lines using a Credit Line System, the Credit Line System which includes a server system, a client system configured with a browser, and a centralized database coupled to the server system, the server system connected to the client system, said computer program comprising:
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a code segment to automatically transmit domestic and international wire information for cash movement to a first bank to facilitate repayment by the borrower of an amount drawn on the established line of credit and to ensure timely payment by the borrower of commitment fees associated with the established line of credit;
a code segment to process information contained in the centralized database utilizing a credit line module to maintain credit lines;
a code segment to maintain borrowings against a credit line with the bank utilizing a borrowing module;
a code segment to monitor the line of credit established with the first bank based on the credit ratings of the first bank;
a code segment to calculate an eligibility factor for the borrower based on information stored in the database, the eligibility factor indicating at least one of a likelihood that the first bank would increase the established line of credit with the borrower and a likelihood that a second bank would establish a new line of credit with the borrower; and
a code segment to process journal entries including journal entries reflecting borrowings against the credit line, repayments made toward the established line of credit, and commitment fees paid for the credit line by utilizing a journal entry module, the journal entry module integrated with the credit line module and the borrowing module to process information to create borrowing journal entries and post the borrowing journal entries to a general ledger of the borrower for facilitating preparations of financial statements.
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32. A computer program embodied on a computer readable medium for tracking bank credit lines and borrowing against the bank credit lines using a Credit Line System, comprising:
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a code segment that tracks credit ratings of a first bank;
a code segment that accesses a centralized database to obtain and maintain information regarding a line of credit established with the bank for the borrower including credit ratings of the first bank, a total credit line, an amount drawn on the established line of credit, an interest rate on the established credit line, and commitment fees associated with the established line of credit;
a code segment that automatically transmits domestic and international wire information for cash movement to a first bank to facilitate repayment by the borrower of the amount drawn on the established line of credit and to ensure timely payment by the borrower of commitment fees associated with the established line of credit;
a code segment that monitors the established line of credit with the first bank based on credit ratings of the first bank;
a code segment that calculates an eligibility factor for the borrower based on information stored in the centralized database, the eligibility factor indicating at least one of a likelihood that the first bank would increase the established line of credit with the borrower and a likelihood that a second bank would establish a new line of credit with the borrower; and
a code segment that posts borrowing journal entries including journal entries reflecting borrowings against the credit line, repayments made toward the established line of credit, and commitment fees paid for the credit line to a general ledger of the borrower for financial monitoring, reporting and auditing purposes. - View Dependent Claims (33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44)
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Specification