June 2016

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% during 2011.

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Between June 2014 and June 2016, the volume of interbank checks declined by an annual average of only 3.65%. Additionally, the year to year aggregate volume decline was only 2.01% for the first half of 2016 compared with the first half of 2015.

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For 2015 the return rate was only .38% which is the lowest annual return rate yet. So far for 2016 it is .39%

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More than 20,400 routing transit numbers are available to receive check images and over 20,200 are available to receive image returns.

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On an average day during June 2016, over 48 million interbank check images were received for posting. When the June volume is annualized, it totals 12.3 billion for $18.8 trillion.  The annualized volume of substitute checks received in June 2016 totaled only 688 thousand for $985 million.

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Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional exchanges

(click the right and left arrows on the image below to navigate the slides or click here for full size file)