Commercial Automated Clearinghouse Transactions Processed by the Federal Reserve The daily average volume and average daily value of items are based on the number of business days in each year. Average Average daily daily Average Volume Value volume value value per (millions Percent (billions Percent (millions (billions transaction Quarter of items) change of dollars) change of items) of dollars) (dollars) 1989:Q1 171 5.6 897 0.1 2.8 14.5 5,244 Q2 182 6.3 996 11.0 2.8 15.6 5,476 Q3 187 3.1 960 3.6 3.0 15.2 5,121 Q4 200 6.8 987 2.8 3.2 15.9 4,932 1990:Q1 211 5.3 1,120 13.5 3.4 18.1 5,317 Q2 224 6.3 1,005 -10.3 3.5 15.7 4,488 Q3 232 3.4 957 -4.8 3.7 15.2 4,131 Q41 249 7.4 1,091 14.0 4.0 17.6 4,384 1991:Q1 255 2.5 1,240 13.7 4.2 20.3 4,864 Q2 272 6.8 1,361 9.8 4.3 21.6 4,997 Q3 287 5.4 1,429 5.0 4.5 22.3 4,979 Q4 305 6.1 1,518 6.2 4.8 24.1 4,984 1992:Q1 307 0.7 1,516 -0.1 4.9 24.5 4,942 Q2 327 6.7 1,622 7.0 5.1 25.3 4,954 Q3 338 3.4 1,626 0.2 5.2 25.0 4,804 Q4 354 4.6 1,767 8.7 5.7 28.5 4,991 1993:Q1 345 -2.6 1,483 -16.1 5.7 24.3 4,301 Q2 365 5.9 1,655 11.6 5.7 25.9 4,535 Q3 380 4.0 1,665 0.6 5.9 26.0 4,388 Q4 397 4.5 1,652 -0.8 6.3 26.2 4,166 1994:Q1 403 1.7 1,770 7.1 6.5 28.5 4,388 Q2 425 5.5 1,773 0.2 6.6 27.7 4,168 Q3 445 4.6 1,745 -1.6 7.0 27.3 3,920 Q4 463 4.1 1,807 3.6 7.6 29.6 3,898 1995:Q1 479 3.4 1,834 1.5 7.7 29.6 3,828 Q2 504 5.3 1,956 6.7 7.9 30.6 3,879 Q3 519 3.0 1,970 0.7 8.2 31.3 3,794 Q4 544 4.7 2,057 4.4 8.8 33.2 3,782 1996:Q1 559 2.8 2,081 1.2 9.0 33.6 3,721 Q2 585 4.6 2,093 0.6 9.1 32.7 3,577 Q3 601 2.8 2,079 -0.6 9.4 32.5 3,459 Q4 629 4.7 2,036 -2.1 10.2 32.8 3,234 1997:Q12 601 -4.4 2,108 3.6 9.9 34.6 3,505 Q2 641 6.6 2,251 6.8 10.0 35.2 3,509 Q3 665 3.7 2,309 2.6 10.4 36.1 3,472 Q4 695 4.5 2,461 6.6 11.2 39.7 3,541 1998:Q1 685 -1.5 2,431 -1.2 11.2 39.9 3,551 Q2 733 7.0 2,595 6.7 11.4 40.5 3,542 Q3 760 3.8 2,572 -0.9 11.7 39.6 3,383 Q4 788 3.7 2,740 6.5 12.7 44.2 3,476 1999:Q1 791 0.4 2,643 -3.5 13.0 43.3 3,340 Q2 828 4.6 2,727 3.2 12.9 42.6 3,295 Q3 847 2.4 2,694 -1.2 13.2 42.1 3,179 Q4 877 3.5 2,798 3.8 13.9 44.4 3,190 2000:Q1 901 2.7 2,812 0.5 14.3 44.6 3,122 Q2 937 4.0 2,892 2.9 14.6 45.2 3,087 Q3 960 2.5 2,885 -0.3 15.2 45.8 3,004 Q4 1,014 5.7 3,031 5.1 16.4 48.9 2,988 2001:Q1 1,053 3.9 3,076 1.5 17.0 49.6 2,921 Q2 1,093 3.8 3,199 4.0 17.1 50.0 2,927 Q3 1,122 2.7 3,124 -2.3 17.8 49.6 2,785 Q4 1,181 5.2 3,308 5.9 19.0 53.4 2,802 2002:Q1 1,175 -0.5 3,137 -5.2 19.3 51.4 2,671 Q2 1,217 3.6 3,142 0.2 19.0 49.1 2,581 Q3 1,255 3.1 3,279 4.4 19.6 51.2 2,613 Q4 1,339 6.7 3,577 9.1 21.6 57.7 2,671 2003:Q1 1,345 0.4 3,503 -2.1 22.0 57.4 2,605 Q2 1,404 4.4 3,727 6.4 21.9 58.2 2,655 Q3 1,388 -1.1 3,555 -4.6 21.7 55.5 2,561 Q4 1,452 4.6 3,166 -10.9 23.4 51.1 2,181 2004:Q1 1,525 5.1 3,105 -1.9 24.6 50.1 2,036 Q2 1,577 3.4 3,158 1.7 25.4 50.9 2,002 Q3 1,643 4.2 3,085 -2.3 25.7 48.2 1,877 Q4 1,740 5.9 3195 3.6 27.2 49.9 1,836 2005:Q1 1,758 1.0 3,096 -3.1 27.5 48.4 1,761 Q2 1,810 2.9 3,147 1.6 28.3 49.2 1,739 Q3 1,858 2.7 3,276 4.1 29.0 51.2 1,763 Q4 1,913 2.9 3,282 0.2 31.4 53.8 1,716 2006:Q1 1,996 4.3 3,281 0.0 32.7 53.8 1,644 Q2 2,006 0.5 3,246 -1.1 32.9 53.2 1,618 Q3 2,063 2.8 3,253 0.2 33.8 53.3 1,577 Q4 2,166 5.0 3,344 2.8 35.5 54.8 1,544 2007:Q1 2,259 4.3 3,466 3.7 36.4 55.9 1,535 Q2 2,308 2.2 3,602 3.9 36.1 56.3 1,561 Q3 2,333 1.1 3,666 1.8 37.0 58.2 1,571 Q4 2,463 5.6 3,813 4.0 39.7 61.5 1,548 2008:Q1 2,503 1.6 3,911 2.6 40.4 63.1 1,562 Q2 2,510 0.3 4,000 2.3 39.2 62.5 1,594 1. Data for years preceding 1991 do not include items sent to the Reserve Banks by the New York Automated Clearinghouse. 2. Beginning in 1997, reported ACH volumes do not include non-value items.