1 / 10

Key Messages:

CheckImage Collaborative Communications Work Group. Key Messages:

olga-gilliam
Download Presentation

Key Messages:

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. CheckImage Collaborative Communications Work Group • Key Messages: • Institutions have begun receiving electronic delivery of their unpaid image returns. This report now includes the trend information for image returns. From January to December 2009, the volume of reported image returns grew by 91% from an average of 114,000 per day in January to 218,100 per day in December. • More than 21,000 routing transit numbers are available to receive check images and over 6,000 are available to receive returns. • Substitute Checks have facilitated the transition from paper checks to check images.  The monthly volume of substitute checks peaked in the month of October 2007 and the quarterly volume peaked in the second quarter 2008 with 875 million and then declined by 75% during the fourth quarter of 2009 to 220 million. • On an average day during December 2009, over 59 million check images were received for posting. When the December volume is annualized, it totals 15.1 billion for $17.6 trillion. Also, another 2.9 million checks per day that were sent as images and delivered to paying institutions as substitute checks. These totaled 752 million checks per year and $864 billion. • This CheckImage Collaborative image clearing report reflects transactions settled through the Federal Reserve, Viewpointe, The Clearing House and local / regional exchanges. When the same payments were cleared through two or more of these organizations, those payments were counted only once.

  2. Highlights: Chart reflects volume received by DFIs for payment from other DFIs or an intermediary. Average daily image volume grew from 35.51 to 59.98 million from January 2008 to December 2009. December 2009 volume annualized is 15.1 billion images received per year. Based on the Fed’s 2007 Payments Study this is 49% of all checks paid in 2006. 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 Jan-08 Mar-08 Jul-09 Jul-08 Dec-09 Jan-09 May-09 Nov-08 Mar-09 May-08 Oct-09 Sept-08

  3. Highlights: Chart reflects the number of R/Ts available to receive images from other DFIs or an intermediary. Number of available receiving R/Ts grew from 12,963 to 21,425 from January 2008 to December 2009. 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 Sep-08 Jan-08 Nov-08 Jan-09 Mar-08 Jul-09 Jul-08 Dec-09 May-09 Mar-09 May-08 Oct-09

  4. Highlights: All checks were imaged before reconversion to substitute checks. Chart reflects checks received by DFIs for payment from other DFIs or an intermediary. The monthly dollar amount received grew from $1.36 to $1.62 trillion. Annualized December 2009 dollar amount = $18.5 trillion/yr. $18.5 trillion is 44% of the total dollars cleared via check payments. $ 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 Sep-08 Jan-08 Mar-08 Nov-08 Jul-09 Jul-08 Dec-09 May-09 Jan-09 Oct-09 Mar-09 May-08

  5. Highlights: All checks were imaged before reconversion to substitute checks. Chart reflects volume received by DFIs for payment from other DFIs or an intermediary. Over 24 month period Image-based clearing volume grew from 1,039 to 1,358 million / mo with 97% of the volume cleared by image in December 2009 (22 days in December). The annualized December ‘09 volume (15.8 billion items/yr.) is approximately 52% of total check volume paid. # 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 Sep-08 Jan-08 Nov-08 Jan-09 Mar-08 July-09 Jul-08 Dec-09 May-09 Mar-09 May-08 Oct-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 December 2009, the number of R/Ts available to receive unpaid image returns grew by 74% from 3,511 to 6,111. 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 Dec-09 Nov-09 Sep-09 Jun-09 Jul-09 May-09 Oct-09 Aug-09

  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 January and December 2009, the volume of image returns grew by 91% from an average daily volume of 114,000 to 218,100. 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 Sep-09 Jul-09 Dec-09 Jan-09 Feb-09 Nov-09 Oct-09 Mar-09 Jun-09 Aug-09 Apr-09 May-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 January and December 2009, the dollar amount of image returns grew by 97% from $2.77 billion to $5.47. The average dollar amount of image returns ranged from a low of $1,085 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 Sep-09 Jul-09 Dec-09 Jan-09 Feb-09 Nov-09 Oct-09 Mar-09 Jun-09 Aug-09 Apr-09 May-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 59.57 million from Qtr 1 2005 to Qtr 4 2009. Qtr 4 2009 volume annualized is 14.7 billion images received per year. Based on the Fed’s 2007 Payments Study this is 48% of all checks paid in 2006. 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 '08 Qtr 4 '08 Qtr 3 ‘09 Qtr 2 '05 Qtr 1 ‘09 Qtr 1 '05 Qtr 4 ‘09 Qtr 2 '08 Qtr 4 '06 Qtr 2 '07 Qtr 3 '07 Qtr 1 '08 Qtr 2 ‘09 Qtr 1 '07 Qtr 1 '06 Qtr 2 '06 Qtr 3 '06 Qtr 4 '07 Qtr 3 '05 Qtr 4 '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 $4.3 trillion. Annualized Quarter 4 2009 dollar amount = $17.2 trillion/yr. $17.2 trillion is 41% of the total dollars cleared via check and is about 5 times the sum of all debit card and credit card payments. $ 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 '08 Qtr 4 '08 Qtr 3 ‘09 Qtr 2 '05 Qtr 1 ‘09 Qtr 1 '05 Qtr 4 ‘09 Qtr 2 '08 Qtr 4 '06 Qtr 2 '07 Qtr 3 '07 Qtr 1 '08 Qtr 2 ‘09 Qtr 1 '07 Qtr 1 '06 Qtr 2 '06 Qtr 3 '06 Qtr 4 '07 Qtr 3 '05 Qtr 4 '05

More Related