May 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 May 2014 and May 2016, the volume of interbank checks declined by an annual average of only 2%. Additionally the year to year aggregate volume decline was only 1.24% for the months January 2015 through May 2015 compared with the volume for the months January 2016 through May 2016.

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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 .35%

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More than 20,500 routing transit numbers are available to receive check images and over 20,100 are available to receive image returns.

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On an average day during May 2016, over 50 million interbank check images were received for posting. When the May volume is annualized, it totals 12.7 billion for $19 trillion.  The annualized volume of substitute checks received in May 2016 totaled only 708 thousand for $1 billion.

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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)