Abstract: A control center receives, from the first bank, a first request with a first set of requirements for placement of reciprocal deposits. A second request with a second set of requirements is received from a second bank. The control center determines whether the first set of requirements matches the second set of requirements, which include maturity and interest rate. In response to a match, the control center performs an exchange of on-balance sheet deposits meeting the first set of requirements from the first bank to off-balance sheet deposits to the second bank. The first bank receives reciprocal deposits meeting the second set of requirements as new on-balance sheet deposits.
Type:
Grant
Filed:
December 30, 2011
Date of Patent:
October 30, 2012
Assignee:
Anova Financial Corporation
Inventors:
Kim B. Winslow, Adam Roark, Dawn Bunch, Joseph Scheib, Phillips Owen
Abstract: Methods, systems, and computer readable media for facilitating the exchange of reciprocal deposits are disclosed. According to one aspect, the subject matter described herein includes a system for facilitating the exchange of reciprocal deposits. The system includes a first bank for participating in an exchange of reciprocal deposits and a control center for implementing an exchange of reciprocal deposits between the first bank and a second bank for receiving deposits. The control center receives requests for placement of reciprocal deposits, determines requirements of depositing and receiving banks, and facilitates exchange of reciprocal deposits in accordance with the requirements.
Type:
Grant
Filed:
October 1, 2010
Date of Patent:
January 3, 2012
Assignee:
Anova Financial Corporation
Inventors:
Kim B. Winslow, Adam Roark, Dawn Bunch, Joseph Scheib, Phillips Owen