Key Messages:

This CheckImage Collaborative image clearing report reflects transactions settled through the Federal Reserve, Viewpointe, The Clearing House and local / regional exchanges. Effective January 2011, we are able to include direct exchanges between banks as well as 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 September 2011, over 251,000 items were received as unpaid image returns. When the September volume is annualized, it totals 63.4 million for $65 billion. The average unpaid image return was $1,024.

More than 24,350 routing transit numbers are available to receive check images and over 11,200 are available to receive returns.

The monthly volume of substitute checks peaked in the month of October 2007 and then declined by 99% as of September 2011 to 2.7 million.

On an average day during September 2011, over 58 million check images were received for posting. When the September volume is annualized, it totals 14.8 billion for $19.5 trillion. Also, another 117 thousand checks per day were sent as images and delivered to paying institutions as substitute checks. The annualized volume of substitute checks received in September totaled only 29.8 million checks for $34.9 billion.

CheckImage CollaborativeCommunications Work Group

Highlights:

Chart reflects volume received by DFIs for

payment.

Average daily image volume grew from 58.23

to 58.99 million from October 2009 to September 2011.

September 2011 volume annualized is 14.8 billion images received per year.

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO

Full and Participating Members and other local /

regional exchanges

# Ite

ms

in M

illio

ns

Average # of ImagesReceived /Day

Dec-09

Feb-10

Apr-10

Jun-10

Aug-10

Oct-10

Dec-10

Feb-11

Apr-11

Jun-11

Sept-1

1

Oct-09

# of

Imag

e-Av

aila

ble

R/T

sHighlights:

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 20,788 to 24,394 from October 2009

to September 2011.

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO

Full and Participating Members and other local /

regional exchanges

R/Ts Available to Receive Images

Dec-09

Feb-10

Apr-10

Jun-10

Aug-10

Oct-10

Dec-10

Feb-11

Apr-11

Jun-11

Sept-1

1

Oct-09

Highlights:

Chart reflects checks received by DFIs for

payment.

The monthly dollar amount received grew

from $1.50 to $1.78 trillion.

Annualized September 2011 dollar amount =

$19.6 trillion/yr.

$ Amounts of Images& Substitute Checks

Forward Collection Only

$ A

mou

nts

in B

illio

ns

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional

exchangesDec

-09

Feb-10

Apr-10

Jun-10

Aug-10

Oct-10

Dec-10

Feb-11

Apr-11

Jun-11

Sept-1

1

Oct-09

Highlights:

Chart reflects volume received by DFIs for

payment.

Substitute Check volume has decreased to the

volume of February ’05.

# Ite

ms

in M

illio

ns

Substitute Checks

Images

# of Images & Substitute Checks

Forward Collection Only

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional

exchangesDec

-09

Feb-10

Apr-10

Jun-10

Aug-10

Oct-10

Dec-10

Feb-11

Apr-11

Jun-11

Sept-1

1

Oct-09

Highlights:

Chart reflects the number of R/Ts available to

receive unpaid image returns from other DFIs or

an intermediary.

From October 2009 to September 2011, the

number of R/Ts available to receive unpaid image returns grew from 5,089

to 11,219.

(Data sources were modified for August 2010 forward)

Number of R/TsAvailable to Receive

# of

R/T

s Av

aila

ble

to R

ecei

ve R

etur

ns

Image Returns

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional

exchangesDec

-09

Feb-10

Apr-10

Jun-10

Aug-10

Oct-10

Dec-10

Feb-11

Apr-11

Jun-11

Sept-1

1

Oct-09

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 October 2009 to September 2011, the

volume of image returns has increased by 28% from an average daily volume of 195,000 to 251,000 (23 days

in September).

# Ite

ms

in T

hous

ands

Average # of ImageReturns/Day

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional

exchangesDec

-09

Feb-10

Apr-10

Jun-10

Aug-10

Oct-10

Dec-10

Feb-11

Apr-11

Jun-11

Sept-1

1

Oct-09

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 October 2009 and September 2011, the

monthly dollar amount of image returns has grown from $4.4 to $5.9 billion.

The average dollar amount of image returns ranged from a low of $1,024 per

return to a high of $1,215.

$ A

mou

nts

in M

illio

ns$ Amount of Returns

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional

exchangesDec

-09

Feb-10

Apr-10

Jun-10

Aug-10

Oct-10

Dec-10

Feb-11

Apr-11

Jun-11

Sept-1

1

Oct-09

Highlights:

Chart reflects volume received by DFIs for

payment.

Average daily image volume grew from .08 to 62.28 million from Qtr 1

2005 to Qtr 3 2011.

Qtr 3 2011 volume annualized is 16.4 billion images received per year.

# Ite

ms

in M

illio

ns

Average # of Images Received

/Day

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional

exchanges

Highlights:

Chart reflects check images received by DFIs

for payment.

The quarterly dollar amount of images

received grew from $1.7 billion to $5.4 trillion.

Annualized Quarter 3 2011 dollar amount =

$21.6 trillion/yr.

$ A

mou

nts

in B

illio

ns$ Amounts of ImagesReceived by Paying Institution

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional

exchanges

Highlights:

Chart reflects return volume received by DFIs.

Average daily image volume grew from 103 to 256 thousand from Qtr 1

2009 to Qtr 3 2011.

Qtr 3 2011 volume annualized is 64.6 million return images received

per year.

$ A

mou

nts

in T

hous

ands

Average Number of ReturnsReceived / day

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional

exchanges

Highlights:

Chart reflects returned check images received by

DFIs for payment.

The quarterly dollar amount of images

received grew from $7.4 to $17.6 billion.

Annualized Quarter 3 2011 dollar amount =

$72 billion/yr.

$ A

mou

nts

in B

illio

ns

Data Sources:

Transactions settled through the Federal Reserve,

Viewpointe, The Clearing House, selected ECCHO Full and Participating Members and other local / regional

exchanges

$ Amounts of Returned ImagesReceived by Paying Institution