Government 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 108 2.9 94 n.a. 1.7 1.5 869 Q2 108 -0.1 94 0.5 1.7 1.5 875 Q3 111 2.9 97 2.8 1.8 1.5 874 Q4 114 2.5 106 9.5 1.8 1.7 934 1990:Q1 139 22.2 110 3.5 2.2 1.8 791 Q2 136 -2.4 118 7.0 2.1 1.8 868 Q3 122 -9.9 123 4.1 1.9 1.9 1,003 Q4 123 0.3 136 11.3 2.0 2.2 1,113 1991:Q1 130 6.4 177 29.5 2.1 2.9 1,354 Q2 126 -3.6 189 6.8 2.0 3.0 1,500 Q3 129 2.7 180 -4.8 2.0 2.8 1,390 Q4 136 5.3 178 -0.6 2.2 2.8 1,312 1992:Q1 136 0.1 207 16.0 2.2 3.3 1,521 Q2 130 -4.5 224 8.4 2.0 3.5 1,727 Q3 131 1.0 216 -3.9 2.0 3.3 1,642 Q4 133 1.6 213 -1.3 2.2 3.4 1,595 1993:Q1 143 7.0 223 4.9 2.3 3.7 1,564 Q2 137 -4.2 230 3.0 2.1 3.6 1,682 Q3 136 -0.7 213 -7.5 2.1 3.3 1,567 Q4 140 2.9 219 3.3 2.2 3.5 1,572 1994:Q1 145 3.8 238 8.4 2.3 3.8 1,643 Q2 145 -0.1 238 0.2 2.3 3.7 1,648 Q3 141 -2.6 232 -2.7 2.2 3.6 1,645 Q4 144 1.8 241 3.8 2.4 3.9 1,677 1995:Q1 150 4.6 273 13.4 2.4 4.4 1,819 Q2 150 -0.4 289 5.9 2.3 4.5 1,933 Q3 148 -1.2 275 -4.8 2.3 4.4 1,861 Q4 151 2.5 280 2.0 2.4 4.5 1,851 1996:Q1 157 3.6 304 8.5 2.5 4.9 1,940 Q2 159 1.3 322 5.8 2.5 5.0 2,027 Q3 153 -3.8 313 -2.8 2.4 4.9 2,047 Q4 157 2.4 311 -0.6 2.5 5.0 1,988 1997:Q1 168 7.6 354 13.7 2.8 5.8 2,100 Q2 167 -0.8 382 7.9 2.6 6.0 2,283 Q3 154 -8.1 390 2.1 2.4 6.1 2,536 Q4 188 22.5 456 17.2 3.0 7.4 2,426 1998:Q1 175 -7.1 473 3.5 2.9 7.7 2,702 Q2 200 14.1 502 6.3 3.1 7.9 2,517 Q3 188 -6 482 -4.2 2.9 7.4 2,566 Q4 191 1.9 532 10.4 3.1 8.6 2,781 1999:Q1 212 10.7 547 2.9 3.5 9.0 2,585 Q2 200 -5.4 561 2.6 3.1 8.8 2,802 Q3 198 -0.9 552 -1.5 3.1 8.6 2,785 Q4 198 0.0 573 3.8 3.1 9.1 2,889 2000:Q1 223 12.4 616 7.6 3.5 9.8 2,764 Q2 208 -6.6 612 -0.7 3.3 9.6 2,939 Q3 206 -1.2 573 -6.3 3.3 9.1 2,786 Q4 201 -2.2 603 5.1 3.2 9.7 2,995 2001:Q1 231 14.9 663 9.9 3.7 10.7 2,871 Q2 210 -8.9 649 -2.1 3.3 10.1 3,084 Q3 236 12.4 571 -11.9 3.8 9.1 2,417 Q4 223 -5.8 645 13.0 3.6 10.4 2,899 2002:Q1 230 3.4 708 9.7 3.8 11.6 3,076 Q2 213 -7.3 676 -4.6 3.3 10.6 3,166 Q3 213 -0.3 642 3.5 3.3 10.0 3,016 Q4 227 6.5 686 6.8 3.7 11.1 3,025 2003:Q1 231 1.9 714 4.2 3.8 11.7 3,091 Q2 231 0.1 711 -0.5 3.6 11.1 3,072 Q3 223 -3.5 679 -4.4 3.5 10.6 3,042 Q4 228 2.3 706 4.0 3.6 11.4 3,093 2004:Q1 256 12.2 765 8.2 4.0 12.3 2,986 Q2 234 -8.8 733 -4.2 3.7 11.8 3,136 Q3 223 -4.6 691 -5.7 3.5 10.8 3,100 Q4 228 2.4 725 4.9 3.6 11.3 3,174 2005:Q1 263 15.1 814 12.4 4.1 12.7 3,100 Q2 240 -8.8 792 -2.7 3.7 12.4 3,305 Q3 228 -4.8 749 -5.5 3.6 11.7 3,280 Q4 234 2.3 801 7.0 3.7 12.5 3,429 2006:Q1 270 15.7 911 13.7 4.2 14.2 3,372 Q2 249 -7.9 878 -3.6 3.9 13.7 3,528 Q3 232 -6.6 824 -6.2 3.6 12.9 3,544 Q4 240 3.3 861 4.5 3.8 13.5 3,588 2007:Q1 279 16.1 960 11.4 4.5 15.5 3,442 Q2 256 -8.0 961 0.2 4.0 15.0 3,748 Q3 231 -10.0 875 -8.9 3.7 13.9 3,794 Q4 261 13.3 921 5.2 4.2 14.9 3,524 2008:Q1 286 9.3 1032 12.1 4.6 16.6 3,611 Q2 315 10.1 1062 2.9 4.9 16.6 3,375