Energy & Sustainability Consultants
Assume that the transaction at value time 11:45:21 AM is a fee ... View MoreEnergy & Sustainability Consultants
Assume that the transaction at value time 11:45:21 AM is a fee merchandise of
−2,000,000.00 foreign money items (a debit).
700,000.00 currency units (a credit score). In line with embodiments of the invention, depending on the
stability determination times, if a deposit or withdrawal is initially made between hour
boundaries, the value time assigned may be moved as much as the higher boundary.
Thus, for example, the deposit or withdrawal made at
11:45:21 AM as proven in FIG. 8 could possibly be assigned a price time
of 12:00 PM. Similarly, a deposit or withdrawal made at 1:
17:Fifty six PM might be assigned a price time of 2:00 PM.
As shown in block 702 of FIG. 7, the operations may further embody receiving intra-day stability determination instances.
For example, by way of the user interface, a consumer might specify a code identifying a corresponding steadiness time sort as described above.
Assume that in the instance of FIG. 8, the stability willpower times are set to be hourly.
Referring again now to FIG. 7, block 703, the operations may further embrace figuring out the balances
for the account for the desired stability dedication times.
For instance, as a result of an interest calculation typically relies upon at the very least partially on the size of time that a specific amount is present in (or absent from) an account, if the balance determination times are too shut together or too far apart, the corresponding curiosity calculations might not produce meaningful outcomes. The intra-day interest account management software 100 might further be used to define, for example by way of fields of displays generated by the intra-day interest account management software 100, a plurality of situations 103 referring to how curiosity is to be calculated for a given interval of time. More specifically, the situations might decide the curiosity rate to be utilized to a given account stability at a selected stability determination time in an intra-day curiosity calculation, based mostly on such components as the time of day, the calendar day of the week or month, a variable reference interest rate, and other issues.
Assume that originally of the 24-hour interval, account ABC has a positive stability of 1,043,877.88 currency models. Referring now to FIG. 7, the operations may include receiving a designation indicating that an account, comparable to account ABC, is to obtain intra-day curiosity calculation; block 700. The designation may very well be, for instance, some kind of software program "flag." Generally, an current account might be modified by designating it to receive intra-day curiosity calculation, or a new account could be created and designated from the outset to obtain intra-day curiosity calculation. As proven in block 701, the operations could additional embrace receiving further transaction info, akin to a cost merchandise, a fee order, a value date and a price time. In the instance of FIG. 8, a value date of Jan. 31, 2002 and two different worth occasions are shown. A first value time is 11:45: 21 AM, and a second value time is 1:17:Fifty six PM.
Further, in line with embodiments,
totally different interest charges could be decided for various balance willpower times and supplied to the interest calculation logic for use in the intra-day interest calculation,
where the interest rates could differ primarily based on such factors because the time of day and the calendar day of the week or month.
Because calculating the net balances on the steadiness dedication occasions is able to seize rapid fluctuations in an account balance, and because the interest charges utilized within the calculations can be finely tailored, embodiments
of the invention may allow higher precision within the calculation of
curiosity as compared to known arrangements. FIG. 10 exhibits an example of a system for implementing embodiments of the invention. Embodiments of the present invention relate to creating and managing financial institution accounts for which interest is calculated on an intra-day basis.
FIG. 1 shows components of the current invention based on embodiments.
The embodiments might comprise intra-day curiosity account administration software program 100.
The intra-day curiosity account administration software 100 could also be used to create a brand new bank account, or modify an present checking account, to obtain intra-day curiosity calculation in keeping
with desired parameters.
Referring to FIG. 2, the intra-day interest account management software a hundred could comprise software program for implementing a graphical consumer (GUI) interface together with a plurality of shows 200. The displays, for instance, may very well be presented on a show gadget 201 coupled to a computer 202 and input devices equivalent to a keyboard 203 and a mouse 204. The plurality of displays may current a plurality of fields for entry and display of data referring to intra-day curiosity account administration operations. Information entered into the fields could possibly be saved in databases on some form of computer-readable medium similar to disk or reminiscence, for access and retrieval when needed, for example, to carry out a specific operation regarding an account configured to obtain intra-day interest calculation. For instance, the fields could present for the entry or show of transaction info 101. Transaction data one hundred and one might embrace such things as an account identifier, an indicator or flag that the identified account is to obtain intra-day interest calculation, a "payment merchandise," a "payment order," a "value date" and a "value time." A payment item is a transaction to a single account, e.g., a deposit of $1000 to account XYZ.
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Assume that the transaction at value time 11:45:21 AM is a fee ... View MoreEnergy & Sustainability Consultants
Assume that the transaction at value time 11:45:21 AM is a fee merchandise of
−2,000,000.00 foreign money items (a debit).
700,000.00 currency units (a credit score). In line with embodiments of the invention, depending on the
stability determination times, if a deposit or withdrawal is initially made between hour
boundaries, the value time assigned may be moved as much as the higher boundary.
Thus, for example, the deposit or withdrawal made at
11:45:21 AM as proven in FIG. 8 could possibly be assigned a price time
of 12:00 PM. Similarly, a deposit or withdrawal made at 1:
17:Fifty six PM might be assigned a price time of 2:00 PM.
As shown in block 702 of FIG. 7, the operations may further embody receiving intra-day stability determination instances.
For example, by way of the user interface, a consumer might specify a code identifying a corresponding steadiness time sort as described above.
Assume that in the instance of FIG. 8, the stability willpower times are set to be hourly.
Referring again now to FIG. 7, block 703, the operations may further embrace figuring out the balances
for the account for the desired stability dedication times.For instance, as a result of an interest calculation typically relies upon at the very least partially on the size of time that a specific amount is present in (or absent from) an account, if the balance determination times are too shut together or too far apart, the corresponding curiosity calculations might not produce meaningful outcomes. The intra-day interest account management software 100 might further be used to define, for example by way of fields of displays generated by the intra-day interest account management software 100, a plurality of situations 103 referring to how curiosity is to be calculated for a given interval of time. More specifically, the situations might decide the curiosity rate to be utilized to a given account stability at a selected stability determination time in an intra-day curiosity calculation, based mostly on such components as the time of day, the calendar day of the week or month, a variable reference interest rate, and other issues.
Assume that originally of the 24-hour interval, account ABC has a positive stability of 1,043,877.88 currency models. Referring now to FIG. 7, the operations may include receiving a designation indicating that an account, comparable to account ABC, is to obtain intra-day curiosity calculation; block 700. The designation may very well be, for instance, some kind of software program "flag." Generally, an current account might be modified by designating it to receive intra-day curiosity calculation, or a new account could be created and designated from the outset to obtain intra-day curiosity calculation. As proven in block 701, the operations could additional embrace receiving further transaction info, akin to a cost merchandise, a fee order, a value date and a price time. In the instance of FIG. 8, a value date of Jan. 31, 2002 and two different worth occasions are shown. A first value time is 11:45: 21 AM, and a second value time is 1:17:Fifty six PM.
Further, in line with embodiments,
totally different interest charges could be decided for various balance willpower times and supplied to the interest calculation logic for use in the intra-day interest calculation,
where the interest rates could differ primarily based on such factors because the time of day and the calendar day of the week or month.
Because calculating the net balances on the steadiness dedication occasions is able to seize rapid fluctuations in an account balance, and because the interest charges utilized within the calculations can be finely tailored, embodiments
of the invention may allow higher precision within the calculation of
curiosity as compared to known arrangements. FIG. 10 exhibits an example of a system for implementing embodiments of the invention. Embodiments of the present invention relate to creating and managing financial institution accounts for which interest is calculated on an intra-day basis.
FIG. 1 shows components of the current invention based on embodiments.
The embodiments might comprise intra-day curiosity account administration software program 100.
The intra-day curiosity account administration software 100 could also be used to create a brand new bank account, or modify an present checking account, to obtain intra-day curiosity calculation in keeping
with desired parameters.Referring to FIG. 2, the intra-day interest account management software a hundred could comprise software program for implementing a graphical consumer (GUI) interface together with a plurality of shows 200. The displays, for instance, may very well be presented on a show gadget 201 coupled to a computer 202 and input devices equivalent to a keyboard 203 and a mouse 204. The plurality of displays may current a plurality of fields for entry and display of data referring to intra-day curiosity account administration operations. Information entered into the fields could possibly be saved in databases on some form of computer-readable medium similar to disk or reminiscence, for access and retrieval when needed, for example, to carry out a specific operation regarding an account configured to obtain intra-day interest calculation. For instance, the fields could present for the entry or show of transaction info 101. Transaction data one hundred and one might embrace such things as an account identifier, an indicator or flag that the identified account is to obtain intra-day interest calculation, a "payment merchandise," a "payment order," a "value date" and a "value time." A payment item is a transaction to a single account, e.g., a deposit of $1000 to account XYZ.
In case you loved this short article and you want to receive more information about sbem calculations uk please visit our website.
