Optimization of Bank Transit Check Clearing Operations

Robert M. Nauss and Robert E. Markland
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Robert M. Nauss: School of Business Administration, University of Missouri--St. Louis, St. Louis, Missouri 63121
Robert E. Markland: College of Business Administration, University of South Carolina, Columbia, South Carolina 29208

Management Science, 1985, vol. 31, issue 9, 1072-1083

Abstract: The passage of the Depository Institutions Deregulation and Monetary Control Act of 1980 has created a major change in the banking system of the United States, in that the Federal Reserve began charging for its check clearing and collection services September 1, 1981. The result from the passage of this legislation has been major changes in bank check clearing arrangements, in that greater check clearing efficiency is now required to offset the increased clearing costs. This paper describes the development of an integer programming model which has been used to determine the set of clearing arrangements and associated transportation connections that optimizes a bank's transit check clearing system in this new environment.

Keywords: financial institutions: banks; programming: integer; applications (search for similar items in EconPapers)
Date: 1985
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