Method of and system for capturing interest earned on the monetary value of transferred monetary rights managed on an internet-based monetary rights transfer (mrt) network supported by a real-time gross settlement (rtgs) system

Abstract

Method of transferring monetary rights across a plurality of financial institutions participating within a monetary rights transfer (MRT) network, and capturing interest earned on the transferred monetary rights associated with a monetary value amount possessed or controlled by an owner/holder and held in a first account maintained by a home financial institution, associated with the MRT network. Also, a plurality of participating financial institutions is associated with the MRT network, wherein each financial institution maintains a second account, interest bearing, for the owner/holder of the amount of money to capture interest. A real time gross settlement (RTGS) system, controlled by a central bank of a country, is embedded within the internet-based MRT network, for recording debits and credits between central bank accounts maintained by different participating financial institutions at the central bank, so as to transfer interest in the second accounts to the first account of the MRT network user.

1 . A method of transferring monetary rights transferred across a plurality of financial institutions participating within a monetary rights transfer (MRT) network, said method comprising the steps of:
 (a) providing an internet-based monetary rights transfer (MRT) network that recognizes and accounts for an unbundled and individually transferable set of monetary rights associated with an amount of money, said unbundled and individually transferable set of monetary rights (R (α . . . τ, $)) selected from the group consisting of: a monetary right to invest (R (α, $)), a monetary right to earn interest (R (β, $)), a monetary right to use as collateral (R (χ, $)), a monetary right to hold as a store of value (R (δ, $)), a monetary right to make purchases (R (ε, $)), a monetary right to make payments (R, (φ, $)), a monetary right to lend (R (γ, $)), a monetary right to borrow (R (η, $)), and a monetary right to gift (R (τ, $));   (b) registering a home financial institution as a participating financial institution with said internet-based MRT network;   (c) registering said home financial institution with said central bank, wherein said central bank maintains a home financial institution central bank account;   (d) registering all said participating financial institutions with said central bank, wherein said central bank maintains central bank account for each registered participating financial institution;   (e) maintaining, by said home financial institution, a first account which holds a monetary amount for an MRT network user, and wherein said MRT network user is an owner or holder of said monetary amount;   (f) registering a plurality of financial institutions as participating financial institutions with said internet-based MRT network;   (g) opening, by the MRT network user, an universal financial account on said internet-based MRT network, providing said MRT network user with access to a plurality of pre-opened financial accounts maintained within said plurality of participating financial institutions registered with said MRT network, and linked to said first account at said home financial institution;   (h) maintaining, by each said participating financial institution, a second account for said MRT network user;   (i) maintaining one or more databases associated with said MRT network, and receiving, storing, and updating in said one or more databases, data relating to financial services and other financial terms offered by said participating financial institutions, and maintained by said participating financial institutions;   (j) setting, by the MRT network user, criteria for selecting one of said plurality of participating financial institutions, to which one or more of said monetary right shall be transferred by said MRT network; and   (k) using said criteria and an enterprise level computer network of said MRT network, to transfer a subset of monetary rights associated with a monetary value held at said first account to said second account of a selected participating financial institution, and wherein said monetary value comprises the whole monetary value or a partial monetary value of the monetary amount held at said first account.   
     
     
         2 . The method of  claim 1 , which further comprises:
 (l) embedding said internet-based MRT network into a real time gross settlement (RTGS) system controlled by a central bank of a country, wherein said RTGS system record debits and credits between central bank accounts maintained by different financial institutions at the central bank;   wherein step (i) further comprises receiving, storing, and updating in said one or more databases, data relating to interest rates and other financial terms offered by said participating financial institutions, and maintained by said participating financial institutions;   wherein step (j) comprises setting, by the MRT network user, said criteria for selecting the interest rate of one said participating financial institution, to which the monetary right to invest (R (α, $)), said monetary right to earn interest (R (β, $)), and/or said monetary right to lend (R (γ, $)), shall be transferred by said MRT network; and   wherein step (k) comprises using said criteria and an enterprise level computer network of said MRT network, to transfer a subset of monetary rights associated with a monetary value held at said first account to said second account of a selected participating financial institution, wherein said subset of monetary rights comprises one or more of said monetary right to invest (R (α, $)), said monetary right to earn interest (R (β, $)), and said monetary right to lend (R (γ, $)), and wherein said monetary value comprises the whole monetary value or a partial monetary value of the monetary amount held at said first account.   
     
     
         3 . The method of  claim 2 , wherein during step (k) after transferring a subset of monetary rights associated with a monetary value held at said first account to said second account of a selected participating financial institution, performing the following operations:
 (m) instantly recording, via said RTGS system, a debit equal to said monetary value in said home financial institution central bank account and a credit equal to said monetary value in said participating financial institution central bank account, upon the RTGS system receiving notice from the internet-based MRT network that a non-transferred subset of monetary rights associated with said monetary value remains at said first account serving as full, non-leveraged collateral for said transferred subset of monetary rights;   (n) lending or investing a cash amount, by said participating financial institution, to earn a return, wherein said cash amount is based on the monetary value credited to said participating financial institution central bank account;   (o) earning, by said MRT network user, an interest amount on the monetary value associated with said transferred subset of monetary rights;   (p) receiving, via said internet-based MRT network, by said participating financial institution a request to transfer the earned interest amount from said second account to said first account; and   (q) capturing said interest amount by recording, via said RTGS system, a debit equal to a monetary value of said interest amount in said participating financial institution central bank account and a credit equal to said monetary value of said interest amount in said home financial institution central bank account.   
     
     
         4 . The method of  claim 1 , wherein step (g) comprises said plurality of participating financial institutions agreeing to an universal account opening agreement and supplying all pertinent MRT network user financial information required to open up said universal financial account at each said financial institution participating within said MRT network. 
     
     
         5 . The method of  claim 2 , wherein step (j) further comprises ranking said interest rates by one or more different standards, and displaying the ranked interest rates and their associated yields and other financial terms for viewing and selection by the MRT network user. 
     
     
         6 . The method of  claim 1 , wherein step (k) comprises said MRT network user manually transferring said subset of monetary rights associated with the monetary value held at said first account to said second account of the selected participating financial institution. 
     
     
         7 . The method of  claim 1 , wherein step (k) comprises said MRT network being configured to analyze said criteria and said data in said one or more databases, and when said criteria is met, then automatically transferring said subset of monetary rights associated with the monetary value held at said first account to said second account of the selected participating financial institution. 
     
     
         8 . The method of  claim 3 , wherein step (j) further comprises said MRT network user establishing criteria allowing said participating financial institutions to match, beat, or counter, offers received by said MRT network user from other participating financial institutions, with respect to investing said monetary value amount, or a portion thereof, at some particular interest rates. 
     
     
         9 . The method of  claim 1 , wherein step (j) further comprises said MRT network user establishing parameters regarding deposit insurance afforded to monetary rights transfers, and recording said parameters in said one or more databases. 
     
     
         10 . The method of  claim 1 , wherein step (j) further comprises said MRT network user establishing the obligation of participating financial institutions to provide full deposit insurance for the transfer of monetary rights by said MRT network user, to said participating financial institutions. 
     
     
         11 . The method of  claim 1 , wherein step (j) further comprises said MRT network user establishing the obligation of the home financial institution to provide full deposit insurance for the transfer of monetary rights by said MRT network user, to said participating financial institutions, in return for remuneration from said participating financial institutions. 
     
     
         12 . A method of transferring monetary rights across a plurality of financial institutions participating within a monetary rights transfer (MRT) network, and capturing interest earned on the transferred monetary rights associated with a monetary value amount, said method comprising the steps of:
 (a) providing an internet-based monetary rights transfer (MRT) network that recognizes and accounts for an unbundled and individually transferable set of monetary rights associated with an amount of money, said unbundled and individually transferable set of monetary rights (R (α . . . τ, $)) selected from the group consisting of: a monetary right to invest (R (α, $)), a monetary right to earn interest (R (β, $)), a monetary right to use as collateral (R (χ, $)), a monetary right to hold as a store of value (R (δ, $)), a monetary right to make purchases (R (ε, $)), a monetary right to make payments (R, (φ, $)), a monetary right to lend (R (γ, $)), a monetary right to borrow (R (η, $)), and a monetary right to gift (R (τ, $));   (b) embedding said internet-based MRT network into a real time gross settlement (RTGS) system controlled by a central bank of a country, wherein said RTGS system record debits and credits between central bank accounts maintained by different financial institutions at the central bank;   (c) registering a home financial institution as a participating financial institution with said internet-based MRT network;   (d) registering said home financial institution with said central bank, wherein said central bank maintains a home financial institution central bank account;   (e) registering all said participating financial institutions with said central bank, wherein said central bank maintains a central bank account for each registered participating financial institution;   (f) maintaining, by said home financial institution, a first account which holds a monetary amount for an MRT network user, and wherein said MRT network user is an owner or holder of said monetary amount;   (g) registering a plurality of financial institutions as participating financial institutions with said internet-based MRT network;   (h) opening, by the MRT network user, an universal financial account on said internet-based MRT network, providing said MRT network user with access to a plurality of pre-opened financial accounts automatically opened at said plurality of participating financial institutions registered with said MRT network, and linked to said first account at said home financial institution;   (i) maintaining, by each said participating financial institution, a second account for said MRT network user;   (j) maintaining one or more databases associated with said MRT network, and receiving, storing, and updating in said one or more databases, data relating to interest rates and other financial terms offered by said participating financial institutions, and maintained by said participating financial institutions;   (k) setting, by the MRT network user, criteria for selecting the interest rate of one said participating financial institutions, to which the monetary right to invest (R (α, $)), said monetary right to earn interest (R (β, $)), and/or said monetary right to lend (R (γ, $)) shall be transferred by said MRT network;   (l) using said criteria and an enterprise level computer network of said MRT network, to transfer a subset of monetary rights associated with a monetary value held at said first account to said second account of a selected participating financial institution, wherein said subset of monetary rights comprises one or more of said monetary right to invest (R (α, $)), said monetary right to earn interest (R (β, $)), and said monetary right to lend (R (γ, $)), and wherein said monetary value comprises the whole monetary value or a partial monetary value of the monetary amount held at said first account;   (m) instantly recording, via said RTGS system, a debit equal to said monetary value in said home financial institution central bank account and a credit equal to said monetary value in said participating financial institution central bank account, upon the RTGS system receiving notice from the internet-based MRT network that a non-transferred subset of monetary rights associated with said monetary value remains at said first account serving as full, non-leveraged collateral for said transferred subset of monetary rights;   (n) lending or investing a cash amount, by said participating financial institution, to earn a return, wherein said cash amount is based on the monetary value credited to said participating financial institution central bank account;   (o) earning, by said MRT network user, an interest amount on the monetary value associated with said transferred subset of monetary rights;   (p) receiving, via said internet-based MRT network, by said participating financial institution a request to transfer the earned interest amount from said second account to said first account; and   (q) capturing said interest amount by recording, via said RTGS system, a debit equal to a monetary value of said interest amount in said participating financial institution central bank account and a credit equal to said monetary value of said interest amount in said home financial institution central bank account.   
     
     
         13 . The method of  claim 12 , wherein step (k) further comprises ranking said interest rates by one or more different standards, and displaying the ranked interest rates and their associated yields and other financial terms for viewing and selection by the MRT network user. 
     
     
         14 . The method of  claim 12 , wherein step (l) comprises said MRT network user manually transferring said subset of monetary rights associated with the monetary value held at said first account to said second account of the selected participating financial institution. 
     
     
         15 . The method of  claim 12 , wherein step (l) comprises said MRT network automatically transferring said subset of monetary rights associated with the monetary value held at said first account to said second account of the selected participating financial institution. 
     
     
         16 . The method of  claim 15 , wherein step (l) comprises said MRT network being configured to analyze said criteria and said data in said one or more databases, and when said criteria is met, then automatically transferring said subset of monetary rights associated with the monetary value held at said first account to said second account of the selected participating financial institution. 
     
     
         17 . The method of  claim 12 , wherein step (j) further comprises said MRT network user establishing parameters regarding deposit insurance afforded to monetary rights transfers, and recording said parameters in said one or more databases. 
     
     
         18 . The method of  claim 12 , wherein step (j) further comprises said MRT network user establishing criteria allowing said participating financial institutions to match, beat, or counter, offers received by said MRT network user from other participating financial institutions, with respect to investing said monetary value amount, or a portion thereof, at some particular interest rates. 
     
     
         19 . The method of  claim 12 , wherein step (j) further comprises said MRT network user establishing the obligation of participating financial institutions to provide full deposit insurance for the transfer of monetary rights to said participating financial institutions, by said MRT network user. 
     
     
         20 . The method of  claim 12 , wherein step (j) further comprises said MRT network user establishing the obligation of the home financial institution to provide full deposit insurance for the transfer of monetary rights by said MRT network user, to said participating financial institutions, in return for remuneration from said participating financial institutions.