October 2016

Key Messages:

The volume of transit check images in October 2016 was .48% greater than the volume of transit check images in October 2014.

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The average daily volume of transit check images in October 2016 was 5.51% greater than the average daily volume of transit check images in October 2014.

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For the first ten months of 2015 and 2016, the total volume of transit items declined by only 2.31%.

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For the first ten months of 2015 and 2016, the average daily volume of transit items declined by only 1.84%.

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Between Q1 2012 and Q3 2016, the quarterly average volume of image returns has decreased from 247 thousand to 197 thousand or by 21.9%.

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For 2015 the return rate was .38% which is the lowest annual return rate yet. So far for 2016 it is .37%.
 cropped-Checkmark-for-Page-ID-2.jpg More than 20,100 routing transit numbers are available to receive check images and over 20,400 are available to receive image returns.
cropped-Checkmark-for-Page-ID-2.jpg On an average day during October 2016, over 53 million interbank check images were received for posting. When the October volume is annualized, it totals 13.5 billion for $21.2 trillion.  The annualized volume of substitute checks received in October 2016 totaled only 607 thousand for $894 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

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