1. A signal processing device for filtering and processing an audio signal, the signal processing device comprising: an analysis filter bank that receives real valued time domain input audio samples and generates complex-valued subband samples; a high frequency reconstructor or a parametric stereo processor that generates modified complex-valued subband samples; and a synthesis filter bank that receives the modified complex-valued subband samples and generates time domain output audio samples, wherein the analysis filter bank comprises analysis filters (h k (n)) and the synthesis filter bank comprises synthesis filters (f k (n)) that are complex exponential modulated versions of a prototype filter (p 0 (n)) according to: h k ( n ) = f k ( n ) = p 0 ( n ) exp { i π M ( k + 1 2 ) ( n - D 2 ) } , 0 ≤ n < N , 0 ≤ k < M where M is a number of channels, the prototype filter (p 0 (n)) has a length N, and the analysis filter bank and synthesis filter bank have a system delay of D samples, wherein the signal processing device is implemented, at least in part, by one or more hardware elements.