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:
Apr. 29, 2014
Filed:
Jul. 27, 2012
Douglas E. Phillips, Arlington, VA (US);
Robert N. Hyland, Arlington, VA (US);
Anthony R. Carlino, Arlington, VA (US);
Douglas E. Phillips, Arlington, VA (US);
Robert N. Hyland, Arlington, VA (US);
Anthony R. Carlino, Arlington, VA (US);
Promontory Interfinancial Network, LLC, Arlington, VA (US);
Abstract
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 (“Individual TA”) and individual money market deposit account (“Individual MMDA”) 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.