Method and appartus for fully insuring large bank deposits

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.

1 . An automated method 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 being assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds, each deposit having a predetermined maturity, the method comprising:
 (a) receiving at the processor a plurality of orders to process the funds;   (b) prioritizing, using the processor, the plurality of orders for order filling based on the type of deposits established by the banks;   (c) partitioning, using the processor, each of the fund amounts associated with the order being filled into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; and   (d) allocating by the processor each of the deposit portions associated with the order being filled to a specific one of the banks, wherein, through the processor, a deposit is established at the bank to which the deposit portion was allocated.   
     
     
         2 . An automated method 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 being assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds, the method comprising:
 (a) receiving at the processor a plurality of orders to process the funds;   (b) prioritizing, using the processor, the plurality of orders for order filling based on earning rates specified by the banks;   (c) partitioning, using the processor, each of the fund amounts associated with the order being filled into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; and   (d) allocating by the processor each of the deposit portions associated with the order being filled to a specific one of the banks, wherein, through the processor, a deposit is established at the bank to which the deposit portion was allocated.   
     
     
         3 . An automated method 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 being assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds, the method comprising:
 (a) receiving at the processor a plurality of orders to process the funds;   (b) prioritizing, using the processor, the plurality of orders for order filling based on the geographical location of the bank;   (c) partitioning, using the processor, each of the fund amounts associated with the order being filled into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; and   (d) allocating by the processor each of the deposit portions associated with the order being filled to a specific one of the banks, wherein, through the processor, a deposit is established at the bank to which the deposit portion was allocated.   
     
     
         4 . An automated method 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 being assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds, the method comprising:
 (a) receiving at the processor a plurality of orders to process the funds;   (b) prioritizing, using the processor, the plurality of orders for order filling based on preferences indicated by the depositors;   (c) partitioning, using the processor, each of the fund amounts associated with the order being filled into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; and   (d) allocating, using the processor, each of the deposit portions associated with the order being filled to a specific one of the banks, wherein, through the processor, a deposit is established at the bank to which the deposit portion was allocated.   
     
     
         5 . An automated method 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 being assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds, the method comprising:
 (a) receiving at the processor a plurality of orders to process the funds;   (b) prioritizing, using the processor, the plurality of orders for order filling based on preferences indicated by the banks;   (c) partitioning, using the processor, each of the fund amounts associated with the order being filled into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; and   (d) allocating by the processor each of the deposit portions associated with the order being filled to a specific one of the banks, wherein, through the processor, a deposit is established at the bank to which the deposit portion was allocated.   
     
     
         6 . An automated method 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 being assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds, the method comprising:
 (a) receiving at the processor a plurality of orders to process the funds;   (b) prioritizing, using the processor, the plurality of orders for order filling based on the ability of the banks to offer a fully insured deposit in return for funds placed by a Lending Bank;   (c) partitioning, using the processor, each of the fund amounts associated with the order being filled into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; and   (d) allocating by the processor each of the deposit portions associated with the order being filled to a specific one of the banks, wherein, through the processor, a deposit is established at the bank to which the deposit portion was allocated.   
     
     
         7 . An automated method 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 being assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds, the method comprising:
 (a) receiving at the processor a plurality of orders to process the funds;   (b) prioritizing, using the processor, the plurality of orders for order filling based on the availability of funds from a Lending Bank;   (c) partitioning, using the processor, each of the fund amounts associated with the order being filled into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; and   (d) allocating by the processor each of the deposit portions associated with the order being filled to a specific one of the banks, wherein, through the processor, a deposit is established at the bank to which the deposit portion was allocated.   
     
     
         8 . The method of  claim 7  wherein the processor prioritizes the plurality of orders for order filling based on at least one of asset size and the credit rating of the assigned banks.