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This CheckImage Collaborative image clearing report reflects transactions settled through the Federal Reserve, Viewpointe, The Clearing House and local / regional exchanges. Effective January 2011, we are able to include direct exchanges between banks as well as on-us image volumes.
Implementation of check image exchange for check collections is almost completed across the industry and the implementation of check image exchange for returns is rapidly approaching full implementation and stabilization of volume growth has begun.
Institutions are receiving electronic delivery of their unpaid image returns. On an average day in August 2011, over 253,000 items were received as unpaid image returns. When the August volume is annualized, it totals 63.7 million for $67 billion. The average unpaid image return was $1,051.
More than 24,300 routing transit numbers are available to receive check images and over 10,800 are available to receive returns.
The monthly volume of substitute checks peaked in the month of October 2007 and then declined by 98% as of August 2011 to 3.2 million.
On an average day during August 2011, over 63 million check images were received for posting. When the August volume is annualized, it totals 15.9 billion for $20.8 trillion. Also, another 137 thousand checks per day were sent as images and delivered to paying institutions as substitute checks. The annualized volume of substitute checks received in August totaled only 34.7 million checks for $40 billion.
CheckImage CollaborativeCommunications Work Group
Highlights:
Chart reflects volume received by DFIs for
payment.
Average daily image volume grew from 56.23
to 63.20 million from September 2009 to
August 2011.
August 2011 volume annualized is 15.9 billion images received per year.
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House, selected ECCHO
Full and Participating Members and other local /
regional exchanges
# Ite
ms
in M
illio
ns
Average # of ImagesReceived /Day
Nov-09
Jan-10
Mar-10
May-10
Jul-1
0
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Aug-11
Sep-09
# of
Imag
e-Av
aila
ble
R/T
sHighlights:
Chart reflects the number of R/Ts available to
receive images from other DFIs or an
intermediary.
Number of image-available receiving R/Ts
grew from 20,560 to 24,303 from September
2009 to August 2011.
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House, selected ECCHO
Full and Participating Members and other local /
regional exchanges
R/Ts Available to Receive Images
Nov-09
Jan-10
Mar-10
May-10
Jul-1
0
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Aug-11
Sep-09
Highlights:
Chart reflects checks received by DFIs for
payment.
The monthly dollar amount received grew
from $1.50 to $1.90 trillion.
Annualized August 2011 dollar amount = $
20.8 trillion/yr.
$ Amounts of Images& Substitute Checks
Forward Collection Only
$ A
mou
nts
in B
illio
ns
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional
exchangesNov-0
9
Jan-10
Mar-10
May-10
Jul-1
0
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Aug-11
Sep-09
Highlights:
Chart reflects volume received by DFIs for
payment.
Substitute Check volume has decreased to the
volume of February ’05.
# Ite
ms
in M
illio
ns
Substitute Checks
Images
# of Images & Substitute Checks
Forward Collection Only
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional
exchangesNov-0
9
Jan-10
Mar-10
May-10
Jul-1
0
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Aug-11
Sep-09
Highlights:
Chart reflects the number of R/Ts available to
receive unpaid image returns from other DFIs or
an intermediary.
From September 2009 to August 2011, the number
of R/Ts available to receive unpaid image
returns grew from 4,748 to 10,849.
(Data sources were modified for August 2010 forward)
Number of R/TsAvailable to Receive
# of
R/T
s Av
aila
ble
to R
ecei
ve R
etur
ns Image Returns
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional
exchangesNov-0
9
Jan-10
Mar-10
May-10
Jul-1
0
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Aug-11
Sep-09
Highlights:
This chart reports the volume trend of unpaid image returns delivered
electronically to the receipt location designated by the
bank of first deposit.
Between September 2009 to August 2011, the volume of
image returns has increased by 39% from an average daily volume of
182,000 to 253,000 (23 days in August).
# Ite
ms
in T
hous
ands
Average # of ImageReturns/Day
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional
exchangesNov-0
9
Jan-10
Mar-10
May-10
Jul-1
0
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Aug-11
Sep-09
Highlights:
This chart reports the dollar amount trend of unpaid image returns delivered
electronically to the receipt location designated by the
bank of first deposit.
Between September 2009 and August 2011, the
monthly dollar amount of image returns has grown from $4.2 to $6.1 billion.
The average dollar amount of image returns ranged from a low of $1,051 per
return to a high of $1,215.
$ A
mou
nts
in M
illio
ns$ Amount of Returns
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional
exchangesNov-0
9
Jan-10
Mar-10
May-10
Jul-1
0
Sep-10
Nov-10
Jan-11
Mar-11
May-11
Aug-11
Sep-09
Highlights:
Chart reflects volume received by DFIs for
payment.
Average daily image volume grew from .08 to 67.56 million from Qtr 1
2005 to Qtr 2 2011.
Qtr 2 2011 volume annualized is 17.2 billion images received per year.
# Ite
ms
in M
illio
ns
Average # of Images Received
/Day
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional
exchangesQtr 2 ‘
11
Highlights:
Chart reflects check images received by DFIs
for payment.
The quarterly dollar amount of images
received grew from $1.7 billion to $5.5 trillion.
Annualized Quarter 2 2011 dollar amount =
$22 trillion/yr.
$ A
mou
nts
in B
illio
ns$ Amounts of ImagesReceived by Paying
Institution
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional
exchanges
Qtr 2 ‘
11
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