Commercial Checks Returned through the Federal Reserve--Quarterly Data
The daily average volume and average daily value of items are based on the number of business days in each quarter.1
| Quarter | Volume (millions of items) |
Volume percent change |
Value (billions of dollars) |
Value percent change |
Average daily volume (thousands of items) |
Average daily value (millions of dollars) |
Average value per check (dollars) |
|---|---|---|---|---|---|---|---|
| 2023:Q4 | 6 | 0.2 | 20 | 4.2 | 92 | 323 | 3,516 |
| 2023:Q3 | 6 | 4.1 | 19 | -2.5 | 90 | 305 | 3,381 |
| 2023:Q2 | 5 | 2.1 | 20 | 2.0 | 87 | 313 | 3,612 |
| 2023:Q1 | 5 | -2.5 | 19 | 2.4 | 86 | 311 | 3,615 |
| 2022:Q4 | 5 | -4.0 | 19 | 3.2 | 90 | 309 | 3,440 |
| 2022:Q3 | 6 | 9.5 | 18 | -5.8 | 89 | 285 | 3,200 |
| 2022:Q2 | 5 | 2.8 | 19 | 11.8 | 83 | 308 | 3,719 |
| 2022:Q1 | 5 | -2.0 | 17 | 2.7 | 82 | 280 | 3,419 |
| 2021:Q4 | 5 | 6.9 | 17 | 13.1 | 82 | 268 | 3,263 |
| 2021:Q3 | 5 | 17.0 | 15 | 1.2 | 76 | 233 | 3,085 |
| 2021:Q2 | 4 | -10.6 | 15 | -2.1 | 65 | 231 | 3,568 |
| 2021:Q12 | 5 | -4.2 | 15 | 5.4 | 76 | 247 | 3,257 |
| 2020:Q4 | 5 | 5.7 | 14 | 2.6 | 73 | 217 | 2,958 |
| 2020:Q3 | 5 | 14.9 | 14 | 17.6 | 71 | 218 | 3,048 |
| 2020:Q2 | 4 | -39.6 | 12 | -24.6 | 62 | 185 | 2,978 |
| 2020:Q1 | 7 | -4.9 | 16 | 8.5 | 106 | 254 | 2,385 |
| 2019:Q4 | 7 | -1.2 | 14 | 1.6 | 112 | 234 | 2,092 |
| 2019:Q3 | 7 | 6.1 | 14 | -4.9 | 110 | 223 | 2,034 |
| 2019:Q2 | 7 | -0.3 | 15 | 7.0 | 103 | 234 | 2,268 |
| 2019:Q1 | 7 | -9.5 | 14 | -2.9 | 109 | 230 | 2,114 |
| 2018:Q4 | 7 | 0.4 | 14 | 5.8 | 118 | 233 | 1,971 |
| 2018:Q3 | 7 | 2.7 | 14 | -6.0 | 116 | 217 | 1,871 |
| 2018:Q2 | 7 | -2.3 | 15 | 4.1 | 111 | 227 | 2,042 |
| 2018:Q1 | 7 | -6.0 | 14 | 5.4 | 117 | 225 | 1,916 |
| 2017:Q4 | 8 | -4.0 | 13 | 0.8 | 127 | 217 | 1,709 |
| 2017:Q3 | 8 | 3.7 | 13 | -5.7 | 128 | 208 | 1,627 |
| 2017:Q2 | 8 | 1.1 | 14 | 6.5 | 122 | 218 | 1,790 |
| 2017:Q1 | 8 | -6.1 | 13 | 1.8 | 124 | 211 | 1,698 |
| 2016:Q4 | 8 | -3.3 | 13 | -0.7 | 134 | 210 | 1,565 |
| 2016:Q3 | 8 | 9.1 | 13 | -1.9 | 132 | 202 | 1,524 |
| 2016:Q2 | 8 | 1.2 | 13 | 4.1 | 121 | 206 | 1,694 |
| 2016:Q1 | 8 | -10.7 | 13 | -1.0 | 124 | 204 | 1,648 |
| 2015:Q4 | 9 | -1.1 | 13 | 1.6 | 139 | 206 | 1,487 |
| 2015:Q3 | 9 | 6.0 | 13 | -3.9 | 136 | 197 | 1,448 |
| 2015:Q2 | 8 | 5.1 | 13 | 5.6 | 128 | 204 | 1,598 |
| 2015:Q1 | 8 | -14.4 | 12 | -3.5 | 128 | 203 | 1,592 |
| 2014:Q4 | 9 | -5.2 | 13 | -0.2 | 147 | 207 | 1,411 |
| 2014:Q3 | 10 | 4.6 | 13 | -2.5 | 150 | 201 | 1,341 |
| 2014:Q2 | 9 | 1.1 | 13 | 2.0 | 143 | 206 | 1,439 |
| 2014:Q1 | 9 | -11.8 | 13 | -3.2 | 149 | 212 | 1,427 |
| 2013:Q4 | 10 | -5.2 | 13 | -2.0 | 166 | 216 | 1,301 |
| 2013:Q3 | 11 | 3.8 | 14 | -3.3 | 169 | 213 | 1,259 |
| 2013:Q2 | 10 | -0.2 | 14 | 4.2 | 163 | 221 | 1,351 |
| 2013:Q1 | 10 | -14.3 | 14 | -11.1 | 172 | 222 | 1,294 |
| 2012:Q4 | 12 | -1.4 | 15 | 10.7 | 197 | 246 | 1,247 |
| 2012:Q3 | 12 | 3.2 | 14 | -5.9 | 197 | 219 | 1,110 |
| 2012:Q2 | 12 | -1.2 | 15 | 1.4 | 188 | 229 | 1,217 |
| 2012:Q1 | 12 | -16.2 | 14 | -6.5 | 196 | 233 | 1,185 |
| 2011:Q4 | 15 | -7.7 | 15 | -4.1 | 238 | 253 | 1,063 |
| 2011:Q3 | 16 | 2.9 | 16 | 2.5 | 246 | 251 | 1,022 |
| 2011:Q2 | 15 | 2.9 | 16 | -11.0 | 239 | 245 | 1,027 |
| 2011:Q1 | 15 | -17.5 | 18 | -5.0 | 239 | 284 | 1,187 |
| 2010:Q4 | 18 | -5.5 | 19 | -4.1 | 286 | 295 | 1,031 |
| 2010:Q3 | 19 | 3.9 | 19 | -1.2 | 298 | 302 | 1,016 |
| 2010:Q2 | 18 | 2.9 | 20 | -4.4 | 286 | 306 | 1,069 |
| 2010:Q1 | 18 | -17.7 | 20 | -9.7 | 292 | 336 | 1,150 |
| 2009:Q4 | 22 | -4.8 | 23 | -6.7 | 349 | 366 | 1,048 |
| 2009:Q3 | 23 | 5.0 | 24 | -7.9 | 350 | 374 | 1,070 |
| 2009:Q2 | 22 | -13.7 | 26 | -17.5 | 338 | 412 | 1,219 |
| 2009:Q1 | 25 | -10.0 | 32 | -4.8 | 411 | 524 | 1,276 |
| 2008:Q4 | 28 | -2.4 | 34 | -0.3 | 449 | 542 | 1,206 |
| 2008:Q3 | 29 | 11.1 | 34 | 9.4 | 446 | 527 | 1,181 |
| 2008:Q2 | 26 | 6.0 | 31 | -1.3 | 402 | 481 | 1,199 |
| 2008:Q1 | 24 | -15.7 | 31 | -4.1 | 391 | 503 | 1,288 |
| 2007:Q4 | 29 | -2.6 | 33 | -5.5 | 464 | 525 | 1,132 |
| 2007:Q3 | 30 | -1.9 | 34 | -4.5 | 468 | 547 | 1,168 |
| 2007:Q2 | 30 | 7.4 | 36 | -1.4 | 470 | 564 | 1,200 |
| 2007:Q1 | 28 | -5.8 | 37 | 7.3 | 451 | 590 | 1,308 |
| 2006:Q4 | 30 | -4.0 | 34 | 3.6 | 479 | 550 | 1,148 |
| 2006:Q3 | 31 | 4.4 | 33 | -0.8 | 492 | 523 | 1,063 |
| 2006:Q2 | 30 | 6.6 | 33 | 2.1 | 463 | 519 | 1,120 |
| 2006:Q1 | 28 | -14.2 | 33 | -8.9 | 449 | 524 | 1,169 |
| 2005:Q4 | 32 | -5.8 | 36 | 0.9 | 531 | 585 | 1,102 |
| 2005:Q3 | 34 | 8.9 | 35 | 6.5 | 538 | 553 | 1,029 |
| 2005:Q2 | 32 | 10.1 | 33 | 10.4 | 494 | 520 | 1,052 |
| 2005:Q1 | 29 | -13.7 | 30 | -8.2 | 463 | 486 | 1,049 |
| 2004:Q4 | 33 | -10.4 | 33 | -5.7 | 528 | 521 | 986 |
| 2004:Q3 | 37 | -0.3 | 35 | 2.9 | 580 | 543 | 936 |
| 2004:Q2 | 37 | -3.1 | 34 | -4.8 | 577 | 524 | 907 |
| 2004:Q1 | 38 | -12.7 | 35 | -7.2 | 615 | 567 | 923 |
| 2003:Q4 | 44 | 0.0 | 38 | -0.6 | 705 | 612 | 868 |
| 2003:Q3 | 44 | 1.4 | 38 | 0.8 | 682 | 596 | 873 |
| 2003:Q2 | 43 | 3.1 | 38 | -0.2 | 673 | 591 | 878 |
| 2003:Q1 | 42 | -7.1 | 38 | -0.6 | 685 | 621 | 907 |
| 2002:Q4 | 45 | 1.6 | 38 | 2.5 | 725 | 615 | 847 |
| 2002:Q3 | 44 | 5.7 | 37 | 8.8 | 692 | 581 | 840 |
| 2002:Q2 | 42 | 0.6 | 34 | -3.0 | 655 | 534 | 815 |
| 2002:Q1 | 42 | -11.1 | 35 | -5.0 | 683 | 577 | 846 |
| 2001:Q4 | 47 | 6.7 | 37 | 0.2 | 756 | 598 | 791 |
| 2001:Q3 | 44 | -1.0 | 37 | -0.2 | 697 | 588 | 843 |
| 2001:Q2 | 44 | 2.9 | 37 | 0.3 | 693 | 580 | 836 |
| 2001:Q1 | 43 | -4.6 | 37 | 2.9 | 695 | 596 | 858 |
| 2000:Q4 | 45 | -0.3 | 36 | -0.7 | 729 | 580 | 795 |
| 2000:Q3 | 45 | 3.5 | 36 | -1.8 | 719 | 575 | 799 |
| 2000:Q2 | 44 | 4.8 | 37 | 1.1 | 684 | 576 | 841 |
| 2000:Q1 | 42 | -11.9 | 36 | -0.1 | 664 | 579 | 872 |
| 1999:Q4 | 47 | 3.3 | 37 | 4.9 | 753 | 579 | 770 |
| 1999:Q3 | 46 | 8.1 | 35 | 2.7 | 718 | 544 | 758 |
| 1999:Q2 | 43 | 1.5 | 34 | -2.2 | 664 | 530 | 797 |
| 1999:Q1 | 42 | -9.5 | 35 | -0.7 | 687 | 568 | 828 |
| 1998:Q4 | 46 | 2.6 | 35 | 2.0 | 747 | 563 | 754 |
| 1998:Q3 | 45 | 2.4 | 34 | 1.6 | 695 | 526 | 758 |
| 1998:Q2 | 44 | 1.7 | 34 | 2.8 | 689 | 526 | 763 |
| 1998:Q1 | 43 | -9.8 | 33 | -5.4 | 710 | 537 | 756 |
| 1997:Q4 | 48 | 1.9 | 35 | 2.6 | 774 | 558 | 721 |
| 1997:Q3 | 47 | 3.6 | 34 | 1.8 | 736 | 527 | 716 |
| 1997:Q2 | 45 | 0.8 | 33 | 0.3 | 711 | 518 | 729 |
| 1997:Q1 | 45 | -5.3 | 33 | 2.2 | 740 | 542 | 732 |
| 1996:Q4 | 48 | 3.2 | 32 | 1.6 | 769 | 521 | 678 |
| 1996:Q3 | 46 | 7.8 | 32 | 4.1 | 722 | 497 | 688 |
| 1996:Q2 | 43 | 2.3 | 31 | -2.4 | 670 | 477 | 713 |
| 1996:Q1 | 42 | -3.5 | 31 | 3.4 | 675 | 505 | 747 |
| 1995:Q4 | 43 | 0.1 | 30 | -2.2 | 700 | 488 | 697 |
| 1995:Q3 | 43 | 5.4 | 31 | 2.3 | 688 | 491 | 714 |
| 1995:Q2 | 41 | 1.4 | 30 | -1.2 | 643 | 473 | 735 |
| 1995:Q1 | 41 | -4.1 | 31 | -4.2 | 654 | 494 | 755 |
| 1994:Q4 | 42 | -0.7 | 32 | 5.7 | 693 | 524 | 756 |
| 1994:Q3 | 43 | 4.0 | 30 | -1.1 | 665 | 472 | 711 |
| 1994:Q2 | 41 | 5.0 | 31 | -1.9 | 639 | 478 | 747 |
| 1994:Q1 | 39 | -12.3 | 31 | -7.5 | 629 | 503 | 800 |
| 1993:Q4 | 44 | 3.8 | 34 | 7.4 | 705 | 535 | 758 |
| 1993:Q3 | 43 | 3.7 | 31 | -0.1 | 669 | 490 | 733 |
| 1993:Q2 | 41 | 5.5 | 31 | 4.0 | 645 | 491 | 761 |
| 1993:Q1 | 39 | -9.6 | 30 | -4.1 | 641 | 495 | 772 |
| 1992:Q4 | 43 | 1.3 | 31 | 3.0 | 698 | 508 | 727 |
| 1992:Q3 | 43 | 4.7 | 31 | 4.1 | 657 | 470 | 716 |
| 1992:Q2 | 41 | -3.5 | 29 | -6.5 | 638 | 459 | 720 |
| 1992:Q1 | 42 | -6.9 | 31 | 4.3 | 682 | 507 | 743 |
| 1991:Q4 | 45 | -0.2 | 30 | -12.4 | 721 | 478 | 663 |
| 1991:Q3 | 45 | 3.8 | 34 | 13 | 711 | 537 | 755 |
| 1991:Q2 | 44 | 1.1 | 30 | 3.6 | 696 | 483 | 694 |
| 1991:Q1 | 43 | -12.2 | 29 | n.a. | 711 | 481 | 677 |
| 1990:Q4 | 49 | 6.8 | n.a. | n.a. | 797 | n.a. | n.a. |
| 1990:Q3 | 46 | 6.2 | n.a. | n.a. | 734 | n.a. | n.a. |
| 1990:Q2 | 44 | -2.7 | n.a. | n.a. | 680 | n.a. | n.a. |
| 1990:Q1 | 45 | 8.8 | n.a. | n.a. | 722 | n.a. | n.a. |
| 1989:Q4 | 41 | 1.3 | n.a. | n.a. | 663 | n.a. | n.a. |
| 1989:Q3 | 41 | 3.4 | n.a. | n.a. | 645 | n.a. | n.a. |
| 1989:Q2 | 39 | -2.1 | n.a. | n.a. | 614 | n.a. | n.a. |
| 1989:Q1 | 40 | n.a. | n.a. | n.a. | 647 | n.a. | n.a. |
Footnotes
1. Data are updated quarterly. Values are subject to minor changes based on revisions to underlying data. Return to text
2. Prior to Q1 2021 reported "Average daily volumes" and "Average daily value" in the above data are based on the Federal Reserve Board of Governors’ holiday schedule. Beginning in Q1 2021, reported "Average daily volumes" and "Average daily value" are based on Federal Reserve Financial Services holiday schedule. Return to text.
n.a. Not available.