Key Messages:

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