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Key Messages:

CheckImage Collaborative Communications Work Group. Key Messages:

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Key Messages:

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  1. CheckImage Collaborative Communications Work Group • 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 December 2010, over 240,000 items were received as unpaid image returns. When the December volume is annualized, it totals 60 million for $72 billion. The average unpaid image return was $1,190. • More than 23,800 routing transit numbers are available to receive check images and over 9,700 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 December 2010 to 12.2 million. • The volume of images received at paying banks increased by 3.7% in December 2010 over November 2010 while the number of days increased by 15% from 20 in November to 23 in December.

  2. Highlights: Chart reflects volume received by DFIs for payment from other DFIs or an intermediary. Average daily image volume grew from 48.72 to 58.48 million from January 2009 to December 2010. December 2010 included 23 days, a 15% increase over the number of days in November 2010. Average # of Images Received /Day # Items in Millions Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jul-10 Nov-09 Jan-09 Sep-09 Jan-10 Sep-10 May-09 Dec-10 Mar-09 Mar-10 May-10

  3. 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 18,066 to 23,879 from January 2009 to December 2010. R/Ts Available to Receive Images # of Image-Available R/Ts Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jul-10 Nov-09 Jan-09 Sep-09 Jan-10 Sep-10 May-09 Dec-10 Mar-09 Mar-10 May-10

  4. 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 $1.50 to $1.72 trillion. Annualized December 2010 dollar amount = $18.8 trillion/yr. $ Amounts of Images & Substitute Checks Forward Collection Only $ Amounts in Billions Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jul-10 Nov-09 Jan-09 Sep-09 Jan-10 Sep-10 May-09 Dec-10 Mar-09 Mar-10 May-10

  5. 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 1,508 to 1,723 million / mo with 99.9% of the volume cleared by image in December 2010 (23 days in December). # of Images & Substitute Checks Forward Collection Only # Items in Millions Images Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Substitute Checks Jul-09 Jul-10 Nov-09 Jan-09 Sep-09 Jan-10 Sep-10 May-09 Dec-10 Mar-09 Mar-10 May-10

  6. Highlights: Chart reflects the number of R/Ts available to receive unpaid image returns from other DFIs or an intermediary. From May 2009 to December 2010, the number of R/Ts available to receive unpaid image returns has more than doubled from 3,511 to 9,778 R/Ts. (Data sources were modified for August 2010 forward) Number of R/Ts Available to Receive Image Returns # of R/Ts Available to Receive Returns Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Apr-10 Dec-09 Oct-09 Dec-10 Jun-10 Sep-09 Sep-10 Feb-10 May-09 Aug-10

  7. 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 December 2010, the volume of image returns has more than doubled from an average daily volume of 114,000 to 240,000 (23 days in December). Average # of Image Returns/Day # Items in Thousands Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jul-10 Nov-09 Jan-09 Sep-09 Jan-10 Sep-10 May-09 Dec-10 Mar-09 Mar-10 May-10

  8. 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 December 2010, the dollar amount of image returns doubled from $2.7 to $6.5 billion. The average dollar amount of image returns ranged from a low of $1,072 per return to a high of $1,215. $ Amount of Returns $ Amounts in Millions Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Jul-09 Jul-10 Nov-09 Jan-09 Sep-09 Jan-10 Sep-10 May-09 Dec-10 Mar-09 Mar-10 May-10

  9. Highlights: Chart reflects volume received by DFIs for payment from other DFIs or an intermediary. Average daily image volume grew from .08 to 61.72 million from Qtr 1 2005 to Qtr 4 2010. Qtr 4 2010 volume annualized is 15.5 billion images received per year. Average # of Images Received /Day # Items in Millions Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Qtr 3 ‘09 Qtr 1 ‘10 Qtr 4 ‘10 Qtr 1 ‘09 Qtr 1 '05 Qtr 3 '08 Qtr 1 '08 Qtr 3 '07 Qtr 1 '07 Qtr 1 '06 Qtr 3 '06 Qtr 3 '05

  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 $4.7 trillion. Annualized Quarter 4 2010 dollar amount = $19.1 trillion/yr. $ Amounts of Images Received by Paying Institution $ Amounts in Billions Data Sources: Transactions settled through the Federal Reserve, Viewpointe, The Clearing House and other local / regional exchanges Qtr 3 ‘09 Qtr 1 ‘10 Qtr 4 ‘10 Qtr 1 ‘09 Qtr 1 '05 Qtr 3 '08 Qtr 1 '08 Qtr 3 '07 Qtr 1 '07 Qtr 1 '06 Qtr 3 '06 Qtr 3 '05

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