Methods, systems, and computer readable media for facilitating the exchange of reciprocal deposits
DCFirst Claim
1. A system for facilitating the exchange of reciprocal deposits, the system comprising:
- a first bank for participating in an exchange of reciprocal deposits, wherein reciprocal deposits are deposits that a depository institution receives through a deposit placement network on a reciprocal basis such that for any deposit received, the institution places the same amount with other depository institutions through the network; and
a control center for implementing an exchange of reciprocal deposits between the first bank and a second bank for receiving deposits, wherein the control center is configured to;
receive, from the first bank, a first request for placement of reciprocal deposits, the request defining a first set of requirements;
receive, from the second bank, a second request for placement of reciprocal deposits, the request defining a second set of requirements;
determine whether the first set of requirements matches the second set of requirements; and
in response to determining that the first set of requirements matches the second set of requirements, perform an exchange of on-balance sheet deposits meeting the first set of requirements from the first bank to off-balance sheet deposits to the second bank, and receive at the first bank reciprocal deposits meeting the second set of requirements as new on-balance sheet deposits, wherein each of the first and second sets of requirements includes a maturity and an interest rate.
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Abstract
Methods, systems, and computer readable media for facilitating the exchange of reciprocal deposits are disclosed. According to one aspect, the subject matter described herein includes a system for facilitating the exchange of reciprocal deposits. The system includes a first bank for participating in an exchange of reciprocal deposits and a control center for implementing an exchange of reciprocal deposits between the first bank and a second bank for receiving deposits. The control center receives requests for placement of reciprocal deposits, determines requirements of depositing and receiving banks, and facilitates exchange of reciprocal deposits in accordance with the requirements.
77 Citations
32 Claims
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1. A system for facilitating the exchange of reciprocal deposits, the system comprising:
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a first bank for participating in an exchange of reciprocal deposits, wherein reciprocal deposits are deposits that a depository institution receives through a deposit placement network on a reciprocal basis such that for any deposit received, the institution places the same amount with other depository institutions through the network; and a control center for implementing an exchange of reciprocal deposits between the first bank and a second bank for receiving deposits, wherein the control center is configured to; receive, from the first bank, a first request for placement of reciprocal deposits, the request defining a first set of requirements; receive, from the second bank, a second request for placement of reciprocal deposits, the request defining a second set of requirements; determine whether the first set of requirements matches the second set of requirements; and in response to determining that the first set of requirements matches the second set of requirements, perform an exchange of on-balance sheet deposits meeting the first set of requirements from the first bank to off-balance sheet deposits to the second bank, and receive at the first bank reciprocal deposits meeting the second set of requirements as new on-balance sheet deposits, wherein each of the first and second sets of requirements includes a maturity and an interest rate. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A method for facilitating the exchange of reciprocal deposits, the method comprising:
at a control center having at least one computer; receiving, from a first bank of origination, a first request for placement of reciprocal deposits, the request defining a first set of requirements, wherein reciprocal deposits are deposits that a depository institution receives through a deposit placement network on a reciprocal basis such that for any deposit received, the institution places the same amount with other depository institutions through the network; receiving, from a second bank of origination, a second request for placement of reciprocal deposits, the request defining a second set of requirements; determining whether the first set of requirements matches the second set of requirements; and in response to determining that the first set of requirements matches the second set of requirements, performing an exchange of on-balance sheet deposits meeting the first set of requirements from the first bank of origination to off-balance sheet deposits to the second bank of origination, and receiving at the first bank of origination reciprocal deposits meeting the second set of requirements as new on-balance sheet deposits, wherein each of the first and second sets of requirements includes a maturity and an interest rate. - View Dependent Claims (8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29)
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30. A non-transitory computer readable medium having stored thereon executable instructions that when executed by the processor of a computer control the computer to perform steps comprising:
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receiving, from a first bank of origination, a first request for placement of reciprocal deposits, the request defining a first set of requirements, wherein reciprocal deposits are deposits that a depository institution receives through a deposit placement network on a reciprocal basis such that for any deposit received, the institution places the same amount with other depository institutions through the network; receiving, from a second bank of origination, a second request for placement of reciprocal deposits, the request defining a second set of requirements; determining whether the first set of requirements matches the second set of requirements; in response to determining that the first set of requirements matches the second set of requirements, performing an exchange of on-balance sheet deposits meeting the first set of requirements from the first bank of origination to off-balance sheet deposits to the second bank of origination, and receiving at the first bank of origination reciprocal deposits meeting the second set of requirements as new on-balance sheet deposits, wherein each of the first and second sets of requirements includes a maturity and an interest rate. - View Dependent Claims (31, 32)
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Specification