The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Mar. 01, 2011
Filed:
Aug. 02, 2010
Mark P. Jacobsen, Arlington, VA (US);
Mark P. Jacobsen, Arlington, VA (US);
Promontory Interfinancial Network, LLC, Arlington, VA (US);
Abstract
An automated method and article of manufacture are 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 by a plurality of banks from their depositors. A processor receives an order from a bank to process a large deposit. The processor partitions the large deposit into a plurality of deposit portions such that each deposit portion does not exceed the established deposit insurance limit. A network of banks is provided for receiving the plurality of deposit portions for deposit therein. The processor determines if there is an insufficient number of banks within the network of banks to receive all of the deposit portions. A loan is obtained from a lending bank using the processor if it is determined that there is an insufficient number of banks within the network of banks to receive all of the deposit portions. The amount of the loan is equal to the amount of the order to process the large deposit minus the amount that the network of banks can receive. The processor then assigns at least some of the deposit portions that the network of banks can receive to at least some of the banks in the network of banks.