Promontory Interfinancial Network, LLC

Other

Promontory Interfinancial Networks, LLC

Robert N Hyland

Douglas E Phillips

Anthony R Carlino

George W Brock

Frank B Shelledy

Edward Joseph Pawlowski

A method, system and computer program product for managing aggregate funds held in a custodial deposit accounts by a custodial agent on behalf of a plurality of individuals. According to the present invention, the custodial deposit accounts comprises an omnibus transaction account ('Omnibus TA') and a Omnibus money market deposit account ('Omnibus MMDA'). A corresponding individual transaction account (&#x201c;Individual TA&#x201d;) and individual money market deposit account (&#x201c;Individual MMDA&#x201d;) are kept on the books and records of the custodial agent for each individual, representing the amount of the individual's funds deposited in the Omnibus TA and Omnibus MMDA, respectively. According to the present invention, limitations on transfers from the Omnibus MMDA to the Omnibus TA and limitations on transfers from the corresponding Individual MMDAs to the Individual TAs are managed by daily allocation of the funds in the Individual TAs and Individual MMDAs.

Method, system and computer program product for managing funds in custodial deposit accounts

A method, system and computer program product for auditing and reconciling custodial accounts. A tool is provided to allow a custodial agent to audit a custodial account at one or more depository institutions at which deposits are held by the custodial agent on behalf of one or more individuals and reconcile such accounts. According to one embodiment, the method includes comparing account balance data from a depository institution for a custodial account against account balance data from a second source for the custodial account, identifying discrepancies between the balance data from the depository institution and the balance data from the second source, identifying a prospective write-off in the amount of one or more of the discrepancies, and prompting the custodial agent to indicate whether the custodial agent accepts the prospective write-off. The prospective write-off may be offset against an account.

Auditing and reconciling custodial accounts

A method, system and computer program product for managing aggregate funds held in custodial deposit accounts by a custodial agent on behalf of a plurality of individuals. According to the present invention, the custodial deposit accounts comprise an omnibus transaction account ('Omnibus TA') and a Omnibus money market deposit account ('Omnibus MMDA'). A corresponding individual transaction account (&#x201c;Individual TA&#x201d;) and individual money market deposit account (&#x201c;Individual MMDA&#x201d;) are kept on the books and records of the custodial agent for each individual, representing the amount of the individual's funds deposited in the Omnibus TA and Omnibus MMDA, respectively. According to the present invention, limitations on transfers from the Omnibus MMDA to the Omnibus TA and limitations on transfers from the corresponding Individual MMDAs to the individual TAs are managed by daily allocation of the funds in the Individual TAs and Individual MMDAs.

A method, system and computer program product for managing aggregate funds held in custodial deposit accounts by a custodial agent on behalf of a plurality of individuals. According to the present invention, the custodial deposit accounts comprise an omnibus transaction account ('Omnibus TA') and a Omnibus money market deposit account ('Omnibus MMDA'). A corresponding individual transaction account (&#x201c;Individual TA&#x201d;) and individual money market deposit account (&#x201c;Individual MMDA&#x201d;) are kept on the books and records of the custodial agent for each individual, representing the amount of the individual's funds deposited in the Omnibus TA and Omnibus MMDA, respectively. According to the present invention, limitations on transfers from the Omnibus MMDA to the Omnibus TA and limitations on transfers from the corresponding Individual MMDAs to the Individual TAs are managed by daily allocation of the funds in the Individual TAs and Individual MMDAs.

A magnetic head assembly useful as a write head is formed with a ferrite substrate, having a recessed channel on one surface in which a conductive coil is deposited, and a ferrite closure having a planar surface that is joined to the substrate surface to establish a transducing gap and to enclose the recessed coil. In operation, pulsed write current is applied to the write head and a significant reduction in Joule heating is realized. A low resistance substrate is employed to provide a high saturation flux density.

Growing community of inventors

Arlington, VA, United States of America

Robert N Hyland