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Industry Statistics — December 2010
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 December 2010, over 240,000 items were received as unpaid image returns. When the December volume is annualized, it totals 60 million for $72 billion. The average unpaid image return was $1,190.
- More than 23,800 routing transit numbers are available to receive check images and over 9,700 are available to receive returns.
- The monthly volume of substitute checks peaked in the month of October 2007 and then declined by 96% as of December 2010 to 12.2 million.
- The volume of images received at paying banks increased by 3.7% in December 2010 over November 2010 while the number of days increased by 15% from 20 in November to 23 in December.
Data Sources for all Statistics:
Transaction settled through the Federal Reserve, NCHA and SVPCO with no duplicate counting.
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