Abstract

An extended coverage monetary regulation system for automatically distributing customer deposits to multiple financial institutions so as to obtain F.D.I.C. or F.S.L.I.C. coverage for the full amount of the deposits regardless of the amount. The system of the present invention enables depositors to deal with a single financial institution regardless of the amount of funds deposited and still obtain federal insurance for their funds. Further, the invention provides immediate access to these funds and unlimited withdrawals. A central transaction control center monitors deposits and assigns them, in co-mingled form, to institutions not excluded by the terms of the agreement between the depositor and the control center. The depository institutions receive the funds in co-mingled form and handle them in lump sum. Because the control center maintains accurate records of the identity and the amounts of funds distributed to selected insured depositories, the depositors funds can be divided among depositories so as to obtain full insurance coverage. Further, the depositories have no need to know, and are unware of, the identity of the individual depositors. When one less than the maximum number of withdrawals have been made from any selected depository during a month's time, the central transaction control center withdraws the entire sum and distributes it through other selected insured depositories that have the capacity for more than one withdrawal during the remainder of the month.