BANKING & FINANCE - Dec. 3, 1992

Banks May Set Up Joint Check Operation: Seeking to slash costs and use excess back-office capacity, NationsBank Corp. is talking with Chemical Banking Corp. and BankAmerica Corp. about setting up a joint check-processing “utility.” Sources said IBM’s technology services unit and Electronic Data Systems Corp. are also involved in the early stages of an effort to build a network of check-sorting and clearing centers. Since the three banking companies are among the largest processors of checks for other banks, the proposed utility would probably handle a big chunk of inter-bank, paper-based transactions.