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Key Messages:

CheckImage Collaborative Communications Work Group. Key Messages:

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Key Messages:

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  1. CheckImage Collaborative Communications Work Group • 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.

  2. 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. Average # of Images Received /Day # Items in Millions Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jul-10 Jan-10 Sep-09 Feb-11 Sep-10 Mar-10 Mar-09 Nov-10 May-09 Nov-09 May-10

  3. 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. R/Ts Available to Receive Images # of Image-Available R/Ts Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jul-10 Jan-10 May-10 Sep-10 Feb-11 Sep-09 Nov-10 Mar-10 Nov-09 May-09 Mar-09

  4. 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. $ Amounts of Images & Substitute Checks Forward Collection Only $ Amounts in Billions Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jul-10 Jan-10 May-10 Sep-10 Feb-11 Sep-09 Nov-10 Mar-10 Nov-09 May-09 Mar-09

  5. 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. # of Images & Substitute Checks Forward Collection Only # Items in Millions Images Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Substitute Checks Jul-09 Jul-10 Jan-10 May-10 Sep-10 Feb-11 Sep-09 Nov-10 Mar-10 Nov-09 May-09 Mar-09

  6. 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) Number of R/Ts Available to Receive Image Returns # of R/Ts Available to Receive Returns Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jun-10 Dec-09 Jan-10 Feb-11 Aug-10 Sep-09 Dec-10 Mar-10 May-09 Oct-10

  7. 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). Average # of Image Returns/Day # Items in Thousands Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jul-10 Jan-10 May-10 Sep-10 Feb-11 Sep-09 Nov-10 Mar-10 Nov-09 May-09 Mar-09

  8. 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. $ Amount of Returns $ Amounts in Millions Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jul-10 Jan-10 May-10 Sep-10 Feb-11 Sep-09 Nov-10 Mar-10 Nov-09 May-09 Mar-09

  9. 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. Average # of Images Received /Day # Items in Millions Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Qtr 3 ‘09 Qtr 1 ‘10 Qtr 4 ‘10 Qtr 1 ‘09 Qtr 1 '05 Qtr 3 '08 Qtr 1 '08 Qtr 3 '07 Qtr 1 '07 Qtr 1 '06 Qtr 3 '06 Qtr 3 '05

  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. $ Amounts of Images Received by Paying Institution $ Amounts in Billions Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Qtr 3 ‘09 Qtr 1 ‘10 Qtr 4 ‘10 Qtr 1 ‘09 Qtr 1 '05 Qtr 3 '08 Qtr 1 '08 Qtr 3 '07 Qtr 1 '07 Qtr 1 '06 Qtr 3 '06 Qtr 3 '05

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