April 2015

 

Key Messages:

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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.

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Implementation of check image exchange for check collections is virtually complete. As a result, the volume of check images received at the paying bank will mirror the overall check volumes which have been in decline. The volume of interbank checks exchanged via image reached 100% around the end of 2011.

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Between April 2013 and April 2015 the volume of interbank checks declined by an annual average of 8.42%.

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On an average day in April 2015, over 178,000 items were received by the BOFD as unpaid image returns. This represents a return rate of 0.36%.

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More than 25,200 routing transit numbers are available to receive check images and over 19,400 are available to receive returns.

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On an average day during April 2015, over 50 million interbank check images were received for posting. When the April volume is annualized, it totals 12.6 billion for $18.8 trillion. The annualized volume of substitute checks received in April 2015 totaled only 1.2 million checks for $1.4 billion.
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