Key Messages:
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Key Messages: This CheckImage Collaborative image clearing report reflects transactions settled through the Federal Reserve, Viewpointe, The Clearing House and local / regional exchanges. As a result the volumes do not include all transit items across the industry. Additionally, they do not include 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 February 2011, over 225,000 items were received as unpaid image returns. When the February volume is annualized, it totals 56.9 million for $64 billion. The average unpaid image return was $1,131. More than 24,000 routing transit numbers are available to receive check images and over 9,900 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 February 2011 to 6.5 million. On an average day during February 2011, over 59 million check images were received for posting. When the February volume is annualized, it totals 15 billion for $18.3 trillion. Also, another 343 thousand checks per day were sent as images and delivered to paying institutions as substitute checks. These totaled 86.6 million checks per year and $94.6 billion. CheckImage Collaborative Communications Work Group
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CheckImage Collaborative Communications Work Group. Key Messages: - PowerPoint PPT Presentation
Transcript of Key Messages:
Key Messages:
This CheckImage Collaborative image clearing report reflects transactions settled through the Federal Reserve, Viewpointe, The Clearing House and local / regional exchanges. As a result the volumes do not include all transit items across the industry. Additionally, they do not include 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 February 2011, over 225,000 items were received as unpaid image returns. When the February volume is annualized, it totals 56.9 million for $64 billion. The average unpaid image return was $1,131.
More than 24,000 routing transit numbers are available to receive check images and over 9,900 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 February 2011 to 6.5 million.
On an average day during February 2011, over 59 million check images were received for posting. When the February volume is annualized, it totals 15 billion for $18.3 trillion. Also, another 343 thousand checks per day were sent as images and delivered to paying institutions as substitute checks. These totaled 86.6 million checks per year and $94.6 billion.
CheckImage CollaborativeCommunications Work Group
Highlights:
Chart reflects volume received by DFIs for
payment from other DFIs or an intermediary.
Average daily image volume grew from 50.82
to 59.89 million from March 2009 to February
2011.
February 2011 volume annualized is 15 billion
images received per year.
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
# It
ems
in M
illi
on
s
Average # of ImagesReceived /Day
May
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Sep-1
0
Nov-10
Feb-1
1
Mar
-09
# o
f Im
age-
Ava
ilab
le R
/Ts
Highlights:
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 18,590 to 24,098 from March 2009
to February 2011.
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
R/Ts Available to Receive Images
May
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Sep-1
0
Nov-10
Feb-1
1
Mar
-09
Highlights:
Chart reflects checks received by DFIs for
payment from other DFIs or an intermediary.
The dollar amount received during the first two months of 2009 and 2011 grew from $2.8 to
$3 trillion.
Annualized February 2011 dollar amount = $18.4
trillion/yr.
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
$ Amounts of Images& Substitute Checks
Forward Collection Only
$ A
mo
un
ts i
n B
illi
on
s
May
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Sep-1
0
Nov-10
Feb-1
1
Mar
-09
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
Highlights:
Chart reflects volume received by DFIs for
payment from other DFIs or an intermediary.
Substitute Check volume has decreased to the volume of March ’05.
# It
ems
in M
illi
on
s
Substitute Checks
Images
# of Images & Substitute Checks
Forward Collection Only
May
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Sep-1
0
Nov-10
Feb-1
1
Mar
-09
Highlights:
Chart reflects the number of R/Ts available to
receive unpaid image returns from other DFIs or
an intermediary.
From May 2009 to February 2011, the
number of R/Ts available to receive unpaid image returns has more than doubled from 3,511 to
9,987 R/Ts.
(Data sources were modified for August 2010 forward)
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
Number of R/TsAvailable to Receive
# o
f R
/Ts
Ava
ilab
le t
o R
ecei
ve R
etu
rns
Image Returns
Dec-0
9
Jul-0
9
May
-09
Sep-0
9
Jan-1
0
Mar
-10
Jun-1
0
Aug-10
Oct-1
0
Dec-1
0
Feb-1
1
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 March 2009 and February 2011, the volume of image returns has more
than doubled from an average daily volume of
98,000 to 225,000 (19 days in February).
# It
ems
in T
ho
usa
nd
s
Average # of ImageReturns/Day
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchangesMay
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Sep-1
0
Nov-10
Feb-1
1
Mar
-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 March 2009 and February 2011, the dollar amount of image returns doubled from $2.3 to $4.8
billion.
The average dollar amount of image returns ranged from a low of $1,072 per
return to a high of $1,215.
$ A
mo
un
ts i
n M
illi
on
s$ Amount of Returns
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchangesMay
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Sep-1
0
Nov-10
Feb-1
1
Mar
-09
Highlights:
Chart reflects volume received by DFIs for
payment from other DFIs or an intermediary.
Average daily image volume grew from .08 to 61.72 million from Qtr 1
2005 to Qtr 4 2010.
Qtr 4 2010 volume annualized is 15.5 billion images received per year.
# It
ems
in M
illi
on
s
Average # of
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
Images Received /Day
Qtr 1
'05
Qtr 3
'05
Qtr 1
'06
Qtr 3
'06
Qtr 1
'07
Qtr 3
'07
Qtr 1
'08
Qtr 3
'08
Qtr 1
‘09
Qtr 3
‘09
Qtr 1
‘10
Qtr 4
‘10
Highlights:
Chart reflects check images received by DFIs for payment from other DFIs or an intermediary.
The quarterly dollar amount of images
received grew from $1.7 billion to $4.7 trillion.
Annualized Quarter 4 2010 dollar amount =
$19.1 trillion/yr.
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
$ A
mo
un
ts i
n B
illi
on
s
$ Amounts of ImagesReceived by Paying
Institution
Qtr 1
'05
Qtr 3
'05
Qtr 1
'06
Qtr 3
'06
Qtr 1
'07
Qtr 3
'07
Qtr 1
'08
Qtr 3
'08
Qtr 1
‘09
Qtr 3
‘09
Qtr 1
‘10
Qtr 4
‘10
