Method, system and computer program product for managing funds in custodial deposit accounts

A computer-implemented method for managing, over a period of time, aggregate funds held in custodial accounts at a depository institution by a custodial agent on behalf of a plurality of individuals, wherein said custodial accounts comprise an omnibus transaction account (“Omnibus TA”) and an omnibus money market deposit account (“Omnibus MMDA”), comprising:

• (a) establishing an individual transaction account (“Individual TA”) data set in a memory of said computer for each of said plurality of individuals, comprising Individual TA data representative of the amount of said individual's funds allocated to said Omnibus TA;
• (b) establishing an individual money market deposit account (“Individual MMDA”) data set in a memory of said computer for each of said plurality of individuals, comprising Individual MMDA data representative of the amount of said individual's funds allocated to said Omnibus MMDA;
• (c) establishing an Omnibus'TA data set in a memory of said computer comprising Omnibus TA data representative of the amount of said aggregate funds allocated to said Omnibus TA;
• (d) establishing an Omnibus MMDA data set in a memory of said computer comprising Omnibus MMDA data representative of the amount of said aggregate funds allocated to said Omnibus MMDA;
• (e) receiving individual transaction data representative of individual withdrawals to and/or deposits from said custodial accounts by one or more of said plurality of individuals over an interval of said period of time;
• (f) modifying said Individual TA data and said Individual MMDA data for one or more of said plurality of individuals to reflect a net change to the amount of the individual's funds allocated to said Omnibus TA and said Omnibus MMDA, respectively, based on said received individual transaction data, and storing said modified Individual TA data in said Individual TA data set and said modified Individual MMDA data in said Individual MMDA data set;
• (g) after step (f), comparing said Individual MMDA data and said Omnibus MMDA data and calculating a net adjustment to be made to the amount of funds in said Omnibus MMDA, and storing said net adjustment in a memory of said computer;
• (h) comparing said net adjustment to said Omnibus MMDA data and, if said net adjustment is a negative net balance change in an amount not greater than the amount of funds in said Omnibus TA, further modifying said Individual TA data and said Individual MMDA data for one or more of said plurality of individuals to offset said net adjustment, and storing said further modified Individual TA data in said Individual TA data set and said further modified Individual MMDA data in said Individual MMDA data set;
• and
• (i) modifying said Omnibus TA data based on the Individual TA data stored in said Individual TA data set and modifying said Omnibus MMDA data based on the Individual MMDA data stored in said Individual MMDA data set.