June 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 transit check volumes. The volume of interbank checks exchanged via image reached 100% around the end of 2011.

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Between June 2013 and June 2015, the volume of interbank checks declined by an annual average of 6.01%.

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Between June 2014 and June 2015, the volume of interbank checks declined by only 2.65%.

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On an average day in June 2015, over 189,000 items were received by BOFDs as unpaid image returns. This represents a return rate of 0.37%.

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More than 25,000 routing transit numbers are available to receive check images and over 19,500 are available to receive returns.

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On an average day during June 2015, over 51 million interbank check images were received for posting. When the June volume is annualized, it totals 12.9 billion for $19.4 trillion. The annualized volume of substitute checks received in June 2015 totaled on 1.2 million for $1.5 billion.

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