US 5,265,007 A
Central check clearing systemGeneral
US 5,265,007 A
Central check clearing system
Tech Center:
2300
Examiner:
Roy N. Envall, Jr.
Art Unit:
2311
Inventors:
JOHN L. BARNHARD; THOMAS K. BOWEN; TERRY L. GEER; JOHN W. LIEBERSBACH
Assignee:
Priority:
06/07/88
Filed:
08/07/89
Granted:
11/23/93
Expiration:
11/23/13
Abstract
A central check clearing association by which different member banks and financial institutions can each settle debit and credit balances with respect to other member institutions on a predetermined periodic basis and methods and systems by which the association is operable. The system and method is independent of conventional central bank district geographic and institutional boundaries and time zones.