Coming up short of many market observers' and community activists' expectations, Banc One Corp. and First Chicago NBD Corp. have proposed to sell $1.3 billion of Indiana deposits to meet antitrust requirements.

In a filing Friday with the Federal Reserve Bank of Chicago, the merging companies asked the Fed and the U.S. Justice Department to take a broad view in their assessment of the level of competition-one that would let them retain more deposits than a straight market-share calculation would suggest.

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