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 quarter.1 Average Average daily daily Average Volume Volume Value Value volume value value per (millions percent (billions percent (millions (billions transaction Quarter of items) change of dollars change of items) of dollars)(dollars) 2023:Q4 4,844 4.0 10,091 3.6 78.1 162.8 2,083 2023:Q3 4,657 -0.2 9,737 -0.9 73.9 154.6 2,091 2023:Q2 4,665 -0.6 9,830 0.2 74.1 156.0 2,107 2023:Q1 4,693 -0.6 9,807 -0.4 75.7 158.2 2,090 2022:Q4 4,719 0.6 9,843 1.1 77.4 161.4 2,086 2022:Q3 4,689 1.7 9,740 -0.1 73.3 152.2 2,077 2022:Q2 4,609 2.4 9,751 4.3 73.2 154.8 2,116 2022:Q1 4,501 -1.8 9,352 -3.1 72.6 150.8 2,078 2021:Q4 4,582 2.7 9,650 4.5 72.7 153.2 2,106 2021:Q3 4,463 -0.7 9,233 -0.9 69.7 144.3 2,069 2021:Q2 4,496 3.2 9,313 5.9 70.2 145.5 2,072 2021:Q12 4,355 1.0 8,792 2.8 71.4 144.1 2,019 2020:Q4 4,313 2.4 8,551 4.9 65.3 129.6 1,983 2020:Q3 4,212 4.7 8,153 9.6 65.8 127.4 1,935 2020:Q2 4,022 0.5 7,438 1.8 62.8 116.2 1,849 2020:Q1 4,002 -0.4 7,305 -1.0 64.5 117.8 1,825 2019:Q4 4,019 3.0 7,379 3.0 64.8 119.0 1,836 2019:Q3 3,903 0.6 7,165 2.8 61.0 112.0 1,836 2019:Q2 3,878 2.5 6,970 6.1 60.6 108.9 1,797 2019:Q1 3,784 0.0 6,569 -1.0 62.0 107.7 1,736 2018:Q4 3,783 4.5 6,635 3.5 61.0 107.0 1,754 2018:Q3 3,622 -1.0 6,413 -1.3 57.5 101.8 1,771 2018:Q2 3,657 0.7 6,498 2.9 57.1 101.5 1,777 2018:Q1 3,630 2.9 6,314 3.6 58.5 101.8 1,739 2017:Q4 3,527 3.4 6,097 5.0 57.8 100.0 1,729 2017:Q3 3,411 -0.3 5,804 0.1 54.1 92.1 1,702 2017:Q2 3,421 0.9 5,800 1.8 53.5 90.6 1,695 2017:Q1 3,391 2.8 5,698 1.2 54.7 91.9 1,680 2016:Q4 3,297 1.0 5,628 1.9 54.1 92.3 1,707 2016:Q3 3,265 1.3 5,522 2.0 51.0 86.3 1,691 2016:Q2 3,223 1.5 5,415 4.0 50.4 84.6 1,680 2016:Q1 3,175 -0.4 5,207 -0.5 51.2 84.0 1,640 2015:Q4 3,189 3.6 5,233 1.4 51.4 84.4 1,641 2015:Q3 3,078 0.9 5,160 -0.6 48.1 80.6 1,677 2015:Q2 3,051 2.3 5,193 4.3 47.7 81.1 1,702 2015:Q1 2,981 -0.9 4,978 -2.0 48.9 81.6 1,670 2014:Q4 3,007 3.7 5,079 2.1 48.5 81.9 1,689 2014:Q3 2,899 0.7 4,973 0.2 45.3 77.7 1,715 2014:Q2 2,879 1.6 4,964 1.8 45.0 77.6 1,724 2014:Q1 2,835 -1.2 4,875 -1.2 46.5 79.9 1,720 2013:Q4 2,870 2.9 4,934 1.6 46.3 79.6 1,719 2013:Q3 2,790 1.0 4,858 -1.9 43.6 75.9 1,741 2013:Q2 2,764 1.6 4,952 0.1 43.2 77.4 1,792 2013:Q1 2,719 -0.3 4,946 -0.9 44.6 81.1 1,819 2012:Q4 2,727 3.7 4,992 4.5 44.0 80.5 1,831 2012:Q3 2,631 -0.5 4,776 0.0 41.8 75.8 1,815 2012:Q2 2,645 -0.7 4,776 0.6 41.3 74.6 1,806 2012:Q1 2,662 1.6 4,750 2.7 42.9 76.6 1,784 2011:Q4 2,621 1.2 4,624 4.3 43.0 75.8 1,764 2011:Q3 2,590 1.3 4,433 1.9 40.5 69.3 1,712 2011:Q2 2,556 -1.0 4,348 -1.1 39.9 67.9 1,701 2011:Q1 2,582 -1.5 4,397 -1.9 41.6 70.9 1,703 2010:Q4 2,621 2.7 4,480 7.0 41.6 71.1 1,709 2010:Q3 2,551 0.3 4,188 -2.5 39.9 65.4 1,642 2010:Q2 2,543 1.0 4,296 8.0 39.7 67.1 1,690 2010:Q1 2,518 -1.6 3,977 -0.2 41.3 65.2 1,579 2009:Q4 2,558 3.8 3,983 3.7 41.3 64.2 1,557 2009:Q3 2,464 0.0 3,842 -0.2 37.9 59.1 1,559 2009:Q2 2,464 -0.7 3,850 2.8 38.5 60.1 1,563 2009:Q1 2,481 -0.7 3,745 -1.0 40.7 61.4 1,510 2008:Q4 2,499 -1.1 3,783 -4.7 40.3 61.0 1,514 2008:Q3 2,528 0.7 3,968 -0.8 39.5 62.0 1,570 2008:Q2 2,510 0.3 4,000 2.3 39.2 62.5 1,594 2008:Q1 2,503 1.6 3,911 2.6 40.4 63.1 1,562 2007:Q4 2,463 5.6 3,813 4.0 39.7 61.5 1,548 2007:Q3 2,333 1.1 3,666 1.8 37.0 58.2 1,571 2007:Q2 2,308 2.2 3,602 3.9 36.1 56.3 1,561 2007:Q1 2,259 4.3 3,466 3.7 36.4 55.9 1,535 2006:Q4 2,166 5.0 3,344 2.8 35.5 54.8 1,544 2006:Q3 2,063 2.8 3,253 0.2 33.8 53.3 1,577 2006:Q2 2,006 0.5 3,246 -1.1 32.9 53.2 1,618 2006:Q1 1,996 4.3 3,281 0.0 32.7 53.8 1,644 2005:Q4 1,913 2.9 3,282 0.2 31.4 53.8 1,716 2005:Q3 1,858 2.7 3,276 4.1 29.0 51.2 1,763 2005:Q2 1,810 2.9 3,147 1.6 28.3 49.2 1,739 2005:Q1 1,758 1.0 3,096 -3.1 27.5 48.4 1,761 2004:Q4 1,740 5.9 3,195 3.6 27.2 49.9 1,836 2004:Q3 1,643 4.2 3,085 -2.3 25.7 48.2 1,877 2004:Q2 1,577 3.4 3,158 1.7 25.4 50.9 2,002 2004:Q1 1,525 5.1 3,105 -1.9 24.6 50.1 2,036 2003:Q4 1,452 4.6 3,166 -10.9 23.4 51.1 2,181 2003:Q3 1,388 -1.1 3,555 -4.6 21.7 55.5 2,561 2003:Q2 1,404 4.4 3,727 6.4 21.9 58.2 2,655 2003:Q1 1,345 0.4 3,503 -2.1 22.0 57.4 2,605 2002:Q4 1,339 6.7 3,577 9.1 21.6 57.7 2,671 2002:Q3 1,255 3.1 3,279 4.4 19.6 51.2 2,613 2002:Q2 1,217 3.6 3,142 0.2 19.0 49.1 2,581 2002:Q1 1,175 -0.5 3,137 -5.2 19.3 51.4 2,671 2001:Q4 1,181 5.2 3,308 5.9 19.0 53.4 2,802 2001:Q3 1,122 2.7 3,124 -2.3 17.8 49.6 2,785 2001:Q2 1,093 3.8 3,199 4.0 17.1 50.0 2,927 2001:Q1 1,053 3.9 3,076 1.5 17.0 49.6 2,921 2000:Q4 1,014 5.7 3,031 5.1 16.4 48.9 2,988 2000:Q3 960 2.5 2,885 -0.3 15.2 45.8 3,004 2000:Q2 937 4.0 2,892 2.9 14.6 45.2 3,087 2000:Q1 901 2.7 2,812 0.5 14.3 44.6 3,122 1999:Q4 877 3.5 2,798 3.8 13.9 44.4 3,190 1999:Q3 847 2.4 2,694 -1.2 13.2 42.1 3,179 1999:Q2 828 4.6 2,727 3.2 12.9 42.6 3,295 1999:Q1 791 0.4 2,643 -3.5 13.0 43.3 3,340 1998:Q4 788 3.7 2,740 6.5 12.7 44.2 3,476 1998:Q3 760 3.8 2,572 -0.9 11.7 39.6 3,383 1998:Q2 733 7.0 2,595 6.7 11.4 40.5 3,542 1998:Q1 685 -1.5 2,431 -1.2 11.2 39.9 3,551 1997:Q4 695 4.5 2,461 6.6 11.2 39.7 3,541 1997:Q3 665 3.7 2,309 2.6 10.4 36.1 3,472 1997:Q2 641 6.6 2,251 6.8 10.0 35.2 3,509 1997:Q13 601 -4.4 2,108 3.6 9.9 34.6 3,505 1996:Q4 629 4.7 2,036 -2.1 10.2 32.8 3,234 1996:Q3 601 2.8 2,079 -0.6 9.4 32.5 3,459 1996:Q2 585 4.6 2,093 0.6 9.1 32.7 3,577 1996:Q1 559 2.8 2,081 1.2 9.0 33.6 3,721 1995:Q4 544 4.7 2,057 4.4 8.8 33.2 3,782 1995:Q3 519 3.0 1,970 0.7 8.2 31.3 3,794 1995:Q2 504 5.3 1,956 6.7 7.9 30.6 3,879 1995:Q1 479 3.4 1,834 1.5 7.7 29.6 3,828 1994:Q4 463 4.1 1,807 3.6 7.6 29.6 3,898 1994:Q3 445 4.6 1,745 -1.6 7.0 27.3 3,920 1994:Q2 425 5.5 1,773 0.2 6.6 27.7 4,168 1994:Q1 403 1.7 1,770 7.1 6.5 28.5 4,388 1993:Q4 397 4.5 1,652 -0.8 6.3 26.2 4,166 1993:Q3 380 4.0 1,665 0.6 5.9 26.0 4,388 1993:Q2 365 5.9 1,655 11.6 5.7 25.9 4,535 1993:Q1 345 -2.6 1,483 -16.1 5.7 24.3 4,301 1992:Q4 354 4.6 1,767 8.7 5.7 28.5 4,991 1992:Q3 338 3.4 1,626 0.2 5.2 25.0 4,804 1992:Q2 327 6.7 1,622 7.0 5.1 25.3 4,954 1992:Q1 307 0.7 1,516 -0.1 4.9 24.5 4,942 1991:Q4 305 6.1 1,518 6.2 4.8 24.1 4,984 1991:Q3 287 5.4 1,429 5.0 4.5 22.3 4,979 1991:Q2 272 6.8 1,361 9.8 4.3 21.6 4,997 1991:Q1 255 2.5 1,240 13.7 4.2 20.3 4,864 1990:Q44 249 7.4 1,091 14.0 4.0 17.6 4,384 1990:Q3 232 3.4 957 -4.8 3.7 15.2 4,131 1990:Q2 224 6.3 1,005 -10.3 3.5 15.7 4,488 1990:Q1 211 5.3 1,120 13.5 3.4 18.1 5,317 1989:Q4 200 6.8 987 2.8 3.2 15.9 4,932 1989:Q3 187 3.1 960 3.6 3.0 15.2 5,121 1989:Q2 182 6.3 996 11.0 2.8 15.6 5,476 1989:Q1 171 5.6 897 0.1 2.8 14.5 5,244 1Data are updated quarterly. Values are subject to minor changes based on revisions to underlying data. 2Prior 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. 3Beginning in 1997, reported ACH volumes do not include non-value items. 4Data for years preceding 1991 do not include items sent to the Reserve Banks by the New York Automated Clearinghouse.