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.

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.

Abstract: 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.

Abstract: 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 (“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.

Abstract: 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 (“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.

Abstract: 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.

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 banks from their respective depositors. Orders are received at a processor from the plurality of banks to process large deposits. The processor automatically compares each order to a preset maximum order amount. Each of the large deposits for each order are partitioned using the processor into a plurality of deposit portions if the order does not exceed a preset maximum order amount. The partitioning is performed in a manner so that each deposit portion does not exceed the established deposit insurance limit. The processor assigns at least some of the deposit portions for each of the large deposits for each order to at least some banks that are unaffiliated with the bank that received the large deposit for deposit therein if the order does not exceed the preset maximum order amount.

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.

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 by a plurality of unaffiliated banks from their depositors. For selected large deposits received at an unaffiliated bank, a first deposit portion that does not exceed the established deposit limit is retained at the unaffiliated bank that received the large deposit. An order is received from the unaffiliated bank that received the large deposit to process the remaining amount of the large deposit. The processor partitions each of the large deposits into a plurality of second deposit portions, each of which do not exceed the established deposit insurance limit. The processor then assigns at least some of the second deposit portions to at least some of the other unaffiliated banks for deposit therein.

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.

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 banks from their respective depositors. Orders are received at a processor from the plurality of banks to process large deposits. The processor automatically compares each order to a preset maximum order amount. Each of the large deposits for each order are partitioned using the processor into a plurality of deposit portions if the order does not exceed a preset maximum order amount. The partitioning is performed in a manner so that each deposit portion does not exceed the established deposit insurance limit. The processor assigns at least some of the deposit portions for each of the large deposits for each order to at least some banks that are unaffiliated with the bank that received the large deposit for deposit therein if the order does not exceed the preset maximum order amount.

Abstract: An automated method is provided of processing funds in amounts that are subject to an established deposit insurance limit so that the funds are eligible to be fully insured. The funds are assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds. A plurality of orders to process the funds are received at the processor. The processor prioritizes the plurality of orders for order filling based on various different factors. The processor then partitions each of the fund amounts associated with the order being filled into a plurality of deposit portions in a manner such that each deposit portion does not exceed the established deposit insurance limit. The processor allocates each of the deposit portions associated with the order being filled to a specific one of the banks. In this manner, a deposit is established via the processor at the bank to which the deposit portion was allocated.

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 by a plurality of unaffiliated banks from their depositors. For selected large deposits received at an unaffiliated bank, a first deposit portion that does not exceed the established deposit limit is retained at the unaffiliated bank that received the large deposit. An order is received from the unaffiliated bank that received the large deposit to process the remaining amount of the large deposit. The processor partitions each of the large deposits into a plurality of second deposit portions, each of which do not exceed the established deposit insurance limit. The processor then assigns at least some of the second deposit portions to at least some of the other unaffiliated banks for deposit therein.

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, and the plurality of banks include banks that are unaffiliated with each other. An order from a bank is received at a processor 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. The processor automatically assigns at least some of the deposit portions to at least some banks other than the bank that received the large deposit for deposit therein. The processor automatically deposits in the bank that sent the order to the processor an amount of funds equal to the amount of the order.

Abstract: An automated method and computer program product are provided for processing a large deposit that exceeds an established deposit insurance limit so that the large deposit is fully insured. The large deposit is received from a depositor by a first one of a plurality of unaffiliated banks. A processor receives an order placed by the first unaffiliated bank to process the large deposit. The first unaffiliated bank offers a first set of deposit terms to a first depositor. The processor assigns a portion of the large deposit not exceeding the established deposit insurance limit to a second one of the plurality of unaffiliated banks. The second unaffiliated bank offers a second set of deposit terms to a second depositor. The processor calculates the amount of a present value payment to be transferred between the first unaffiliated bank and the second unaffiliated bank to compensate for differences between the first and second sets of deposit terms.

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.

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 banks from their respective depositors. A processor receives orders from the plurality of banks to process large deposits. The processor prioritizes the orders for order filling based on an order matching process that simultaneously processes multiple orders as part of the order matching process. The processor partitions each of the large deposits into a plurality of deposit portions in a manner such that each deposit portion does not exceed the established deposit insurance limit. The processor assigns at least some of the deposit portions for each of the large deposits to at least some banks other than the bank that received the large deposit for deposit therein, wherein the assigning occurs based at least in part on the results of the order matching process.

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 banks from their respective depositors. The method is operated by an entity that processes the large deposits using a processor. The processor receives orders sent from the plurality of banks to process large deposits. Each of the large deposits are partitioned using the processor into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit. The processor assigns at least some of the deposit portions for each of the large deposits to at least some of the unaffiliated banks other than the bank that received the large deposit for deposit therein. The processor receives a fee from each of the banks that sent an order and credits the fee to the entity that processes the large deposits.

Abstract: 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.

Abstract: A computer-implemented method of processing large deposits that exceed an established deposit insurance limit is provided so that the large deposits are fully insured. The large deposits are received by a plurality of unaffiliated banks from their depositors. A processor receives orders placed by the plurality of unaffiliated banks to process the large deposits. The processor partitions each of the large deposits into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit. The processor assigns at least some of the deposit portions to at least some of the unaffiliated banks for deposit therein. In this manner, at least some of the unaffiliated banks that place orders to process large deposits also receive deposit portions from other unaffiliated banks that place orders to process large deposits.