Kishore Kumar Pasumarthi

US Patent:

20090327154, Dec 31, 2009

Filed:

Apr 30, 2008

Appl. No.:

12/112763

Inventors:

Daniel A. Van Vooren - Charlotte NC, US
Judith A. Breault - Charlotte NC, US
Linda Grant - Weddington NC, US
Barry Edward Hagan - Fort Mill SC, US
Stephan R. Hudson - Charlotte NC, US
Kishore Pasumarthi - Charlotte NC, US
Sudhir C. Patel - Charlotte NC, US
Pamela Reed - Charlotte NC, US
Alpesh R. Shah - Charlotte NC, US

Assignee:

Bank of America Corporation - Charlotte NC

International Classification:

G06Q 40/00
G06F 15/16

US Classification:

705 36 R, 709204, 705 35, 705 37

Abstract:

The present invention provides systems, methods, and computer program products for monitoring collateral positions of public-deposit accounts so as to efficiently pledge collateral to under-collateralized positions and release collateral from over-collateralized positions. For example, when a customer deposits additional funds, which results in an uninsured balance that exceeds the allocated collateral, the present invention may identify that account as being under-collateralized, determine the pledge amount required to properly collateralize the account, and then create, submit and track a pledge request that corresponds to the required pledge amount. Likewise, when a customer withdraws funds from a public-deposit account, which results in an uninsured balance that is less than the allocated collateral, the present invention may identify that account as being over-collateralized, determine the appropriate release amount, and then create, submit and track a release request that corresponds to the determined release amount.