Methods and systems for facilitating transactions between commercial banks and pooled depositor groups
DCFirst Claim
1. A method for facilitating financial transactions between depositor groups and commercial banks, the method comprising:
- registering, using a control center with at least one computer, a plurality of different depositor groups and a plurality of different commercial banks;
receiving, via the control center with the at least one computer, contact from a plurality of different depositor groups indicating a deposit need of each of the different depositor groups, where each depositor group indicates to the control center an amount of funds available for deposit as demand deposits and a desired return on deposited funds;
aggregating, prior to the depositing of the funds available for deposit with the commercial banks and using the control center with the at least one computer, the deposit needs of the depositor groups to provide a stable funds source including the aggregated funds available from the plural different depositor groups, which are usable by a the commercial banks as stable deposits;
notifying, using the control center with the at least one computer, the commercial banks of the availability of the stable funds source and an amount of funds available in the stable funds source;
setting, using the control center with the at least one computer, an interest rate to be paid to the depositor groups to a predetermined value based on an interest rate that the commercial banks are willing to pay for the stable funds source and an interest rate the depositor groups expect as a return for use of funds in the stable funds source;
determining, using the control center with the at least one computer, an amount of money collectively needed by the different commercial banks;
receiving, using the control center with the at least one computer, account postings from the commercial banks;
communicating, using the control center with the at least one computer, the interest rate to be paid to the depositor groups and the amount of money collectively needed by the different commercial banks to the depositor groups, receiving deposits, and depositing, using the control center with the at least one computer, funds from the stable funds source in the accounts; and
allowing, using the control center with the at least one computer, the depositor groups to withdraw funds from the accounts on a demand basis without penalty.
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Accused Products
Abstract
Methods and systems for facilitating transactions between commercial banks and pooled depositor groups are disclosed. Employees of a control center determine interest rate return needs of pooled depositor groups, such as trust departments at commercial banks. The control center employees aggregate the funds to produce a stable funds source and communicate the availability of the stable funds source to commercial banks for core deposits. The commercial banks communicate cash needs to the control center. The control center sets an interest rate to be paid to the pooled depositor groups for use of the funds to at least the depositor groups'"'"' expected rate of return and below and the rate that commercial banks are willing to pay for the funds. The banks post master NOW accounts and the pooled depositor groups deposit funds in the master NOW accounts. The pooled depositor groups are allowed to access the funds in the master NOW accounts on a daily basis without penalty. The commercial banks have access to a stable source of funds that banking regulators may permit to be treated as core deposits.
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Citations
50 Claims
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1. A method for facilitating financial transactions between depositor groups and commercial banks, the method comprising:
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registering, using a control center with at least one computer, a plurality of different depositor groups and a plurality of different commercial banks; receiving, via the control center with the at least one computer, contact from a plurality of different depositor groups indicating a deposit need of each of the different depositor groups, where each depositor group indicates to the control center an amount of funds available for deposit as demand deposits and a desired return on deposited funds; aggregating, prior to the depositing of the funds available for deposit with the commercial banks and using the control center with the at least one computer, the deposit needs of the depositor groups to provide a stable funds source including the aggregated funds available from the plural different depositor groups, which are usable by a the commercial banks as stable deposits; notifying, using the control center with the at least one computer, the commercial banks of the availability of the stable funds source and an amount of funds available in the stable funds source; setting, using the control center with the at least one computer, an interest rate to be paid to the depositor groups to a predetermined value based on an interest rate that the commercial banks are willing to pay for the stable funds source and an interest rate the depositor groups expect as a return for use of funds in the stable funds source; determining, using the control center with the at least one computer, an amount of money collectively needed by the different commercial banks; receiving, using the control center with the at least one computer, account postings from the commercial banks; communicating, using the control center with the at least one computer, the interest rate to be paid to the depositor groups and the amount of money collectively needed by the different commercial banks to the depositor groups, receiving deposits, and depositing, using the control center with the at least one computer, funds from the stable funds source in the accounts; and allowing, using the control center with the at least one computer, the depositor groups to withdraw funds from the accounts on a demand basis without penalty. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 48)
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14. A computer program product for facilitating financial transactions between depositor groups and commercial banks, the computer program product comprising:
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registering, using a control center with at least one computer, a plurality of different depositor groups and a plurality of different commercial banks; receiving, via the control center with the at least one computer, contact from a plurality of different depositor groups indicating a deposit need of each of the different depositor groups, where each depositor group indicates to the control center an amount of funds available for deposit as demand deposits and a desired return on deposited funds; aggregating, prior to the depositing of the funds available for deposit with the commercial banks and using the control center with the at least one computer, the deposit needs of the depositor groups to provide a stable funds source including the aggregated funds available from the plural different depositor groups, which are usable by the commercial banks as stable deposits; notifying, using the control center with the at least one computer, the commercial banks of the availability of the stable funds source and an amount of funds available in the stable funds source; setting, using the control center with the at least one computer, an interest rate to be paid to the depositor groups to a predetermined value based on an interest rate that the commercial banks are willing to pay for the stable funds source and an interest rate the depositor groups expect as a return for use of funds in the stable funds source; determining, using the control center with the at least one computer, an amount of money collectively needed by the different commercial banks; receiving, using the control center with the at least one computer, account postings from the commercial banks; communicating, using the control center with the at least one computer, the interest rate to be paid to the depositor groups and the amount of money collectively needed by the different commercial banks to the depositor groups, receiving deposits, and depositing, using the control center with the at least one computer, funds from the stable funds source in the accounts; and allowing, using the control center with the at least one computer, depositor groups to withdraw funds from the accounts on a demand basis without penalty. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 49)
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27. A system for facilitating financial transactions between commercial banks and depositor groups comprising:
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registering, using a control center with at least one computer, a plurality of different depositor groups and a plurality of different commercial banks; a depositor interface for allowing a plurality of different depositor groups indicating a deposit need of each of the different depositor groups, where each depositor group indicates to the control center an amount of funds available for deposit as demand deposits and a desired return on deposited funds to post deposit needs; a control center interface for allowing a control center to view the deposit needs, to aggregate the deposit needs of the depositor groups to form a stable funds source including the aggregated funds available from the plural different deposit groups usable by the different commercial banks as stable deposits, to set an interest rate to be paid to the depositor groups for access to the stable funds source, to set an interest rate to be paid by commercial banks for access to funds in the stable funds source and to notify the depositor groups of the interest rate to be paid to the depositor groups and commercial banks of the interest rate to be paid by the commercial banks; and a commercial banks interface for allowing the commercial banks to post accounts for receiving funds from the stable funds source, wherein the depositor groups deposit funds in the accounts and the commercial banks provide access to the funds in the accounts on a demand basis without penalty, wherein the control center includes at least one computer that determines an amount of money collectively needed by the plurality of different commercial banks and communicates the amount and the interest rate to be paid to the depositor groups to the depositor groups via the depositor interface. - View Dependent Claims (28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 50)
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Specification