Automated method and article of manufacture for fully insuring large deposits received from a plurality of custodians from their respective depositors

  • US 8,051,004 B2
  • Filed: 07/23/2010
  • Issued: 11/01/2011
  • Est. Priority Date: 07/27/2001
  • Status: Active Grant
First Claim
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1. An automated method of processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured, the large deposits being received from a plurality of unaffiliated custodians which receive the large deposits from their respective depositors, the method comprising for at least some of the large deposits:

  • (a) receiving at a processor orders from the plurality of custodians to process large deposits;

    (b) partitioning in the processor each of the large deposits for each order into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; and

    (c) assigning by the processor at least some of the deposit portions for each of the large deposits for each order to at least some custodians that are unaffiliated with the custodian that received the large deposit for deposit therein.

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