Automated method and article of manufacture for fully insuring large deposits received from a plurality of custodians from their respective depositors
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United States of America Patent
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-
Nov 1, 2011
Grant Date -
Jul 7, 2011
app pub date -
Jul 23, 2010
filing date -
Jul 27, 2001
priority date (Note) -
In Force
status (Latency Note)
Importance
Abstract
An automated method is provided for processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured. The large deposits are received from a plurality of unaffiliated custodians from their respective depositors. A processor receives orders from the plurality of custodians to process large deposits. The processor partitions each of the large deposits for each order into a plurality of deposit portions in a manner so that each deposit portion does not exceed the established deposit insurance limit. The processor then assigns 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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