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Methods, systems, and computer readable media for facilitating the exchange of reciprocal deposits

DC
  • US 8,090,651 B2
  • Filed: 10/01/2010
  • Issued: 01/03/2012
  • Est. Priority Date: 08/21/2003
  • Status: Expired due to Fees
First Claim
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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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