key messages:
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CheckImage Collaborative Communications Work Group. Key Messages: - PowerPoint PPT PresentationTRANSCRIPT
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 October 2010, over 251,000 items were received as unpaid image returns. When the October volume is annualized, it totals 63 million for $70 billion. The average unpaid image return was $1,108.
More than 23,400 routing transit numbers are available to receive check images and over 9,400 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 October 2010 to 12.4 million.
On an average day during October 2010, over 62 million check images were received for posting. When the October volume is annualized, it totals 15.7 billion for $18.8 trillion. Also, another 620 thousand checks per day were sent as images and delivered to paying institutions as substitute checks. These totaled 156 million checks per year and $174.4 billion.
CheckImage CollaborativeCommunications Work Group
Highlights:
Chart reflects volume received by DFIs for
payment from other DFIs or an intermediary.
Average daily image volume grew from 49.03
to 62.34 million from November 2008 to
October 2010.
October 2010 volume annualized is 15.7 billion
images received per year.
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
# It
ems
in M
illi
on
s Average # of ImagesReceived /Day
Jan-0
9
Mar
-09
May
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Oct-1
0
Nov-08
# o
f Im
age-
Ava
ilab
le R
/Ts
Highlights:
Chart reflects the number of R/Ts available to
receive images from other DFIs or an
intermediary.
Number of image-available receiving R/Ts
grew from 17,963 to 23,483 from November 2008 to October 2010.
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
R/Ts AvailableTo ReceiveImages
Jan-0
9
Mar
-09
May
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Oct-1
0
Nov-08
Highlights:
All checks were imaged before reconversion to
substitute checks.
Chart reflects checks received by DFIs for
payment from other DFIs or an intermediary.
The monthly dollar amount received grew
from $1.34 to $1.51 trillion.
Annualized October 2010 dollar amount = $19
trillion/yr.
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
$ Amounts of Images& Substitute Checks
Forward Collection Only
$ A
mo
un
ts i
n B
illi
on
s
Jan-0
9
Mar
-09
May
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Oct-1
0
Nov-08
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
Highlights:
All checks were imaged before reconversion to
substitute checks.
Chart reflects volume received by DFIs for
payment from other DFIs or an intermediary.
Over 24 month period Image-based clearing
volume grew from 1,114 to 1,259 million / mo with
99% of the volume cleared by image in
October 2010 (20 days in October).
The annualized October ‘10 volume is 15.8 billion
items/yr.
# It
ems
in M
illi
on
s
Substitute Checks
Images
# of Images & Substitute ChecksForward Collection Only
Jan-0
9
Mar
-09
May
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Oct-1
0
Nov-08
Highlights:
Chart reflects the number of R/Ts available to
receive unpaid image returns from other DFIs or
an intermediary.
From May 2009 to October 2010, the number
of R/Ts available to receive unpaid image returns has more than doubled from 3,511 to
9,430 R/Ts.
(Data sources were modified for August 2010 forward)
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
Number of R/TsAvailable to Receive
# o
f R
/Ts
Ava
ilab
le t
o R
ecei
ve R
etu
rns
Image Returns
Oct-0
9
Jul-0
9
May
-09
Sep-0
9
Dec-0
9
Feb-1
0
Apr-10
Jun-1
0
Aug-10
Sep-1
0
Oct-1
0
Highlights:
This chart reports the volume trend of unpaid image returns delivered
electronically to the receipt location designated by the
bank of first deposit.
Between January 2009 and October 2010, the volume of image returns has more
than doubled from an average daily volume of
114,000 to 251,000.
# It
ems
in T
ho
usa
nd
s
Average # of ImageReturns/Day
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchangesMar
-09
Jan-0
9
May
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Sep-1
0
Oct-1
0
Highlights:
This chart reports the dollar amount trend of unpaid image returns delivered
electronically to the receipt location designated by the
bank of first deposit.
Between January 2009 and October 2010, the dollar amount of image returns more than doubled from
$2.7 to $5.5 billion.
The average dollar amount of image returns ranged from a low of $1,072 per
return to a high of $1,215.
$ A
mo
un
ts i
n M
illi
on
s
$ Amount of Returns
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchangesMar
-09
Jan-0
9
May
-09
Jul-0
9
Sep-0
9
Nov-09
Jan-1
0
Mar
-10
May
-10
Jul-1
0
Sep-1
0
Oct-1
0
Highlights:
Chart reflects volume received by DFIs for
payment from other DFIs or an intermediary.
Average daily image volume grew from .08 to 58.83 million from Qtr 1
2005 to Qtr 3 2010.
Qtr 3 2010 volume annualized is 15 billion
images received per year.#
Item
s in
Mil
lio
ns
Average # of
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
Images Received /Day
Qtr 1
'05
Qtr 3
'05
Qtr 1
'06
Qtr 3
'06
Qtr 1
'07
Qtr 3
'07
Qtr 1
'08
Qtr 3
'08
Qtr 1
‘09
Qtr 3
‘09
Qtr 1
‘10
Qtr 3
‘10
Highlights:
Chart reflects check images received by DFIs for payment from other DFIs or an intermediary.
The quarterly dollar amount of images
received grew from $1.7 billion to $4.5 trillion.
Annualized Quarter 3 2010 dollar amount =
$18.1 trillion/yr.
Data Sources:
Transactions settled through the Federal Reserve,
Viewpointe, The Clearing House and other local /
regional exchanges
$ A
mo
un
ts i
n B
illi
on
s
$ Amounts of ImagesReceived by Paying
Institution
Qtr 1
'05
Qtr 3
'05
Qtr 1
'06
Qtr 3
'06
Qtr 1
'07
Qtr 3
'07
Qtr 1
'08
Qtr 3
'08
Qtr 1
‘09
Qtr 3
‘09
Qtr 1
‘10
Qtr 3
‘10