April 2010

Key Messages:

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Institutions are receiving electronic delivery of their unpaid image returns.   On an average day in April 2010, over 200,000 items were received as unpaid image returns.  When the April volume is annualized, it totals 50 million for $58 billion.  The average unpaid image return was $1,146.79.

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More than 22,400 routing transit numbers are available to receive check images and over 7,600 are available to receive returns.

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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 then declined by 86% as of April 2010 to 44.5 million.

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On an average day during April 2010, over 58 million check images were received for posting.  When the April volume is annualized, it totals 14.6 billion for $17.7 trillion.  Also, another 2 million checks per day were sent as images and delivered to paying institutions as substitute checks.  These totaled 510 million checks per year and $580 billion.

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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.  When the same payments were cleared through two or more of these organizations, those payments were counted only once.

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