Method of and system for capturing interest earned on the monetary value of transferred monetary rights managed on an internet-based monetary rights transfer (MRT) network supported by a real-time gross settlement (RTGS) system
First Claim
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1. A method of capturing interest, said method comprising:
- (a) providing an internet-based monetary rights transfer (MRT) network that recognizes and accounts for an unbundled and individually transferable set of monetary rights associated with an amount of money, said unbundled and individually transferable set of monetary rights (R (α
. . . τ
, $)) selected from the group consisting of;
a monetary right to invest (R (α
, $)), a monetary right to earn interest (R (β
, $)), a monetary right to use as collateral (R (χ
, $)), a monetary right to hold as a store of value (R (δ
, $)), a monetary right to make purchases (R (ε
, $)), a monetary right to make payments (R, (φ
, $)), a monetary right to lend (R (γ
, $)), a monetary right to borrow (R (η
, $)), and a monetary right to gift (R (τ
, $));
(b) embedding said internet-based MRT network into a real time gross settlement (RTGS) system controlled by a central bank of a country, wherein said RTGS system record debits and credits between central bank accounts maintained by different financial institutions at the central bank;
(c) registering a home financial institution and an external financial institution as participating financial institutions with said internet-based MRT network;
(d) registering said home financial institution and said external financial institution with said central bank, wherein said central bank maintains a home financial institution central bank account and an external financial institution central bank account;
(e) maintaining, by said home financial institution, a first account which holds a monetary amount for an MRT network user, and wherein said MRT network user is an owner or holder of said monetary amount;
(f) maintaining, by said external financial institution, a second account for said MRT network user;
(g) transferring by said MRT network user, via an enterprise level computer network of said internet-based MRT network, a subset of monetary rights associated with a monetary value held at said first account to said second account, wherein said subset of monetary rights comprises one or more of said monetary right to invest (R (α
, $)), said monetary right to earn interest (R (β
, $)), and said monetary right to lend (R (γ
, $)), and wherein said monetary value comprises the whole monetary value or a partial monetary value of the monetary amount held at said first account;
(h) instantly recording, via said RTGS system, a debit equal to said monetary value in said home financial institution central bank account and a credit equal to said monetary value in said external financial institution central bank account, upon the RTGS system receiving notice from the internet-based MRT network that a non-transferred subset of monetary rights associated with said monetary value remains at said first account serving as full, non-leveraged collateral for said transferred subset of monetary rights;
(i) lending or investing a cash amount, by said external financial institution, to earn a return, wherein said cash amount is based on the monetary value credited to said external financial institution central bank account;
(j) earning, by said MRT network user, an interest amount on the monetary value associated with said transferred subset of monetary rights;
(k) receiving, via said internet-based MRT network, by said external financial institution a request to transfer the earned interest amount from said second account to said first account;
(l) capturing said interest amount by recording, via said RTGS system, a debit equal to a monetary value of said interest amount in said external financial institution central bank account and a credit equal to said monetary value of said interest amount in said home financial institution central bank account.
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Abstract
Method of capturing interest associated with a whole or partial amount of money possessed or controlled by an owner/holder and held in a first account maintained by a home financial institution, associated with a monetary rights transfer (MRT) network operably connected to the infrastructure of the Internet and a real-time gross settlement (RTGS) system, and the home financial institution or an external financial institution associated with the MRT network, maintaining a second account, interest bearing, for the owner/holder of the amount of money to capture interest.
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Citations
20 Claims
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1. A method of capturing interest, said method comprising:
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(a) providing an internet-based monetary rights transfer (MRT) network that recognizes and accounts for an unbundled and individually transferable set of monetary rights associated with an amount of money, said unbundled and individually transferable set of monetary rights (R (α
. . . τ
, $)) selected from the group consisting of;
a monetary right to invest (R (α
, $)), a monetary right to earn interest (R (β
, $)), a monetary right to use as collateral (R (χ
, $)), a monetary right to hold as a store of value (R (δ
, $)), a monetary right to make purchases (R (ε
, $)), a monetary right to make payments (R, (φ
, $)), a monetary right to lend (R (γ
, $)), a monetary right to borrow (R (η
, $)), and a monetary right to gift (R (τ
, $));(b) embedding said internet-based MRT network into a real time gross settlement (RTGS) system controlled by a central bank of a country, wherein said RTGS system record debits and credits between central bank accounts maintained by different financial institutions at the central bank; (c) registering a home financial institution and an external financial institution as participating financial institutions with said internet-based MRT network; (d) registering said home financial institution and said external financial institution with said central bank, wherein said central bank maintains a home financial institution central bank account and an external financial institution central bank account; (e) maintaining, by said home financial institution, a first account which holds a monetary amount for an MRT network user, and wherein said MRT network user is an owner or holder of said monetary amount; (f) maintaining, by said external financial institution, a second account for said MRT network user; (g) transferring by said MRT network user, via an enterprise level computer network of said internet-based MRT network, a subset of monetary rights associated with a monetary value held at said first account to said second account, wherein said subset of monetary rights comprises one or more of said monetary right to invest (R (α
, $)), said monetary right to earn interest (R (β
, $)), and said monetary right to lend (R (γ
, $)), and wherein said monetary value comprises the whole monetary value or a partial monetary value of the monetary amount held at said first account;(h) instantly recording, via said RTGS system, a debit equal to said monetary value in said home financial institution central bank account and a credit equal to said monetary value in said external financial institution central bank account, upon the RTGS system receiving notice from the internet-based MRT network that a non-transferred subset of monetary rights associated with said monetary value remains at said first account serving as full, non-leveraged collateral for said transferred subset of monetary rights; (i) lending or investing a cash amount, by said external financial institution, to earn a return, wherein said cash amount is based on the monetary value credited to said external financial institution central bank account; (j) earning, by said MRT network user, an interest amount on the monetary value associated with said transferred subset of monetary rights; (k) receiving, via said internet-based MRT network, by said external financial institution a request to transfer the earned interest amount from said second account to said first account; (l) capturing said interest amount by recording, via said RTGS system, a debit equal to a monetary value of said interest amount in said external financial institution central bank account and a credit equal to said monetary value of said interest amount in said home financial institution central bank account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A system for capturing interest, said system comprising:
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a real time gross settlement (RTGS) system controlled by a central bank of a country which (i) registers a home financial institution and an external financial institution and (ii) maintains a home financial institution central bank account and an external financial institution central bank account, and said RTGS system is configured to; record debits and credits between central bank accounts maintained by different financial institutions at the central bank; an internet-based monetary rights transfer (MRT) network, embedded into said RTGS system, said internet-based MRT network comprising an enterprise level computer network (ELCN) configured to; recognize and account for an unbundled and individually transferable set of monetary rights associated with an amount of money, said unbundled and individually transferable set of monetary rights (R (α
. . . τ
, $)) selected from the group consisting of;
a monetary right to invest (R (α
, $)), a monetary right to earn interest (R (β
, $)), a monetary right to use as collateral (R (χ
, $)), a monetary right to hold as a store of value (R (δ
, $)), a monetary right to make purchases (R (ε
, $)), a monetary right to make payments (R, (φ
, $)), a monetary right to lend (R (γ
, $)), a monetary right to borrow (R (η
, $)), and a monetary right to gift (R (τ
, $)), and register said home financial institution and said external financial institution as participating financial institutions;a home financial institution ELCN connected to said internet-based MRT network ELCN via the Internet, said home financial institution ELCN configured to maintain a first account which holds a monetary amount for an MRT network user, and wherein said MRT network user is an owner or holder of said monetary amount; an external financial institution ELCN connected to said internet-based MRT network ELCN via the Internet, said external financial institution ELCN configured to maintain a second account for said MRT network user; and said internet-based MRT network ELCN is further configured to; transfer, by said MRT network user, a subset of monetary rights associated with a monetary value held at said first account to said second account, wherein said subset of monetary rights comprises one or more of said monetary right to invest (R (α
, $)), said monetary right to earn interest (R (β
, $)), and said monetary right to lend (R (γ
, $)), and wherein said monetary value comprises the whole monetary value or a partial monetary value of the monetary amount held at said first account; andsaid RTGS system is further configured to; instantly record a debit equal to said monetary value in said home financial institution central bank account and a credit equal to said monetary value in said external financial institution central bank account, upon the RTGS system receiving notice from the internet-based MRT network ELCN that a non-transferred subset of monetary rights associated with said monetary value remains at said first account serving as full, non-leveraged collateral for said transferred subset of monetary rights; and said external financial institution ELCN is further configured to; lend or invest a cash amount to earn a return, wherein said cash amount is based on the monetary value credited to said external financial institution central bank account, earn, by said MRT network user, an interest amount on the monetary value associated with said transferred subset of monetary rights, and receive, via said internet-based MRT network ELCN, a request to transfer the earned interest amount from said second account to said first account; and said RTGS system is further configured to; capture said interest amount by recording a debit equal to a monetary value of said interest amount in said external financial institution central bank account and a credit equal to said monetary value of said interest amount in said home financial institution central bank account. - View Dependent Claims (20)
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Specification