Government Checks 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 check Quarter of items) change of dollars) change of items) of dollars) (dollars) 2023:Q4 8 -6.8 48 -30.9 0.1 0.8 6,289 2023:Q3 8 -42.5 69 -24.2 0.1 1.1 8,478 2023:Q2 14 43.8 91 17.1 0.2 1.4 6,435 2023:Q1 10 -2.1 78 25.8 0.2 1.3 7,905 2022:Q4 10 -0.7 62 22.3 0.2 1.0 6,152 2022:Q3 10 -29.4 51 -23.5 0.2 0.8 4,995 2022:Q2 14 30.0 66 57.9 0.2 1.1 4,609 2022:Q1 11 -54.1 42 -24.7 0.2 0.7 3,793 2021:Q4 24 -20.5 56 0.2 0.4 0.9 2,311 2021:Q3 30 -17.6 56 -41.8 0.5 0.9 1,833 2021:Q2 37 -7.1 96 44.8 0.6 1.5 2,598 2021:Q12 40 270.6 66 49.7 0.6 1.1 1,665 2020:Q4 11 -26.5 44 6.8 0.2 0.7 4,122 2020:Q3 15 -68.3 41 -52.6 0.2 0.6 2,838 2020:Q2 46 269.5 87 158.1 0.7 1.4 1,896 2020:Q1 12 27.8 34 -13.5 0.2 0.5 2,715 2019:Q4 10 -4.2 39 37.4 0.2 0.6 4,009 2019:Q3 10 -48.1 28 -42.9 0.2 0.4 2,794 2019:Q2 20 59.4 50 52.6 0.3 0.8 2,540 2019:Q1 12 31.9 33 -5.0 0.2 0.5 2,653 2018:Q4 9 -6.7 34 18.7 0.1 0.6 3,684 2018:Q3 10 -51.2 29 -43.5 0.2 0.5 2,893 2018:Q2 20 50.4 51 49.5 0.3 0.8 2,501 2018:Q1 14 40.7 34 -5.5 0.2 0.6 2,515 2017:Q4 10 -5.7 36 44.3 0.2 0.6 3,745 2017:Q3 10 -52.5 25 -49.5 0.2 0.4 2,447 2017:Q2 22 46.1 50 42.0 0.3 0.8 2,303 2017:Q1 15 50.2 35 -5.3 0.2 0.6 2,371 2016:Q4 10 -8.8 37 36.4 0.2 0.6 3,760 2016:Q3 11 -50.5 27 -44.2 0.2 0.4 2,513 2016:Q2 22 38.0 48 21.0 0.3 0.8 2,229 2016:Q1 16 49.5 40 24.0 0.3 0.6 2,542 2015:Q4 11 -5.3 32 29.8 0.2 0.5 3,065 2015:Q3 11 -50.4 25 -46.2 0.2 0.4 2,235 2015:Q2 22 45.2 46 14.7 0.4 0.7 2,061 2015:Q1 15 50.5 40 29.6 0.3 0.7 2,608 2014:Q4 10 -7.8 31 27.2 0.2 0.5 3,028 2014:Q3 11 -54.0 24 -50.7 0.2 0.4 2,193 2014:Q2 24 43.2 50 36.8 0.4 0.8 2,046 2014:Q1 17 65.7 36 9.6 0.3 0.6 2,141 2013:Q4 10 -17.7 33 26.3 0.2 0.5 3,237 2013:Q3 12 -65.9 26 -49.8 0.2 0.4 2,110 2013:Q2 36 52.4 52 20.9 0.6 0.8 1,433 2013:Q1 24 9.3 43 -4.4 0.4 0.7 1,806 2012:Q4 22 -7.4 45 32.7 0.4 0.7 2,064 2012:Q3 24 -41.4 34 -48.7 0.4 0.5 1,441 2012:Q2 40 14.5 66 23.4 0.6 1.0 1,648 2012:Q1 35 17.5 54 4.7 0.6 0.9 1,530 2011:Q4 30 -9.0 51 17.8 0.5 0.8 1,717 2011:Q3 33 -37.1 44 -47.3 0.5 0.7 1,327 2011:Q2 52 19.8 83 29.3 0.8 1.3 1,583 2011:Q1 44 13.4 64 -2.5 0.7 1.0 1,467 2010:Q4 38 -6.1 66 19.0 0.6 1.0 1,707 2010:Q3 41 -30.8 55 -47.4 0.6 0.9 1,347 2010:Q2 59 27.9 105 57.8 0.9 1.6 1,771 2010:Q1 46 15.3 66 -9.7 0.8 1.1 1,435 2009:Q4 40 -4.4 74 27.4 0.6 1.2 1,832 2009:Q3 42 -40.4 58 -46.8 0.6 0.9 1,375 2009:Q2 70 43.2 109 51.6 1.1 1.7 1,542 2009:Q1 49 15.4 72 14.8 0.8 1.2 1,456 2008:Q4 43 -42.9 62 -13.9 0.7 1.0 1,464 2008:Q3 75 -26.0 73 -38.7 1.2 1.1 971 2008:Q2 101 97.6 118 86.5 1.6 1.8 1,171 2008:Q1 51 20.4 63 10.9 0.8 1.0 1,242 2007:Q4 42 -13.0 57 14.9 0.7 0.9 1,348 2007:Q3 49 -30.3 50 -44.5 0.8 0.8 1,020 2007:Q2 70 33.8 90 48.8 1.1 1.4 1,281 2007:Q1 52 18.0 60 -1.1 0.8 1.0 1,151 2006:Q4 44 -5.4 61 20.4 0.7 1.0 1,374 2006:Q3 47 -33.7 51 -44.5 0.7 0.8 1,079 2006:Q2 71 19.1 91 37.9 1.1 1.5 1,289 2006:Q1 59 28.3 66 22.3 1.0 1.1 1,113 2005:Q4 46 0.1 54 11.3 0.8 0.9 1,168 2005:Q3 46 -38.2 49 -49.1 0.7 0.8 1,050 2005:Q2 75 55.6 96 77.1 1.2 1.5 1,274 2005:Q1 48 3.0 54 11.0 0.8 0.9 1,119 2004:Q4 47 -4.1 49 -12.1 0.7 0.8 1,038 2004:Q3 49 -38.8 55 -48.3 0.8 0.9 1,132 2004:Q2 80 36.0 107 59.8 1.2 1.7 1,340 2004:Q1 59 19.7 67 18.5 0.9 1.1 1,140 2003:Q4 49 -33.6 57 -17.4 0.8 0.9 1,151 2003:Q3 74 -13.1 68 -40.3 1.2 1.1 926 2003:Q2 85 43.7 114 66.4 1.3 1.8 1,348 2003:Q1 59 36.2 69 11.3 1.0 1.1 1,164 2002:Q4 87 64.3 62 3.8 1.4 1.0 712 2002:Q3 53 -40.5 60 -50.3 0.8 0.9 1,127 2002:Q2 89 45.7 120 80.6 1.4 1.9 1,351 2002:Q1 61 -7.5 66 0.2 1.0 1.1 1,090 2001:Q4 66 -49.9 66 -29.9 1.1 1.1 1,007 2001:Q3 131 47.9 95 -12.4 2.1 1.5 720 2001:Q2 89 48.5 108 66.1 1.4 1.7 1,216 2001:Q1 60 28.3 65 24.9 1.0 1.0 1,087 2000:Q4 47 -17.0 52 2.1 0.8 0.8 1,117 2000:Q3 56 -38.8 51 -52.7 0.9 0.8 908 2000:Q2 92 36.1 108 50.5 1.4 1.7 1,176 2000:Q1 67 22.1 72 23.1 1.1 1.1 1,064 1999:Q4 55 -7.3 58 -0.4 0.9 0.9 1,055 1999:Q3 60 -41.3 58 -48.8 0.9 0.9 982 1999:Q2 101 40.8 114 51.7 1.6 1.8 1,125 1999:Q1 72 18.9 75 14.5 1.2 1.2 1,044 1998:Q4 61 -13.0 66 -8.0 1.0 1.1 1,084 1998:Q3 70 -35.2 71 -39.5 1.1 1.1 1,025 1998:Q2 108 29 118 33.3 1.7 1.8 1,097 1998:Q1 83 15.1 89 8.6 1.4 1.5 1,062 1997:Q4 72 -11.7 82 -7.4 1.2 1.3 1,126 1997:Q3 82 -34.6 88 -31.2 1.3 1.4 1,073 1997:Q2 125 28.4 128 22.6 2.0 2.0 1,020 1997:Q1 98 9.0 104 7.9 1.6 1.7 1,068 1996:Q4 90 -5.8 97 -0.2 1.4 1.6 1,079 1996:Q3 95 -31.9 97 -35.7 1.5 1.5 1,018 1996:Q2 140 26.3 151 27.4 2.2 2.4 1,078 1996:Q1 111 16.1 118 18.6 1.8 1.9 1,068 1995:Q4 95 -5.5 100 -6.7 1.5 1.6 1,046 1995:Q3 101 -31.7 107 -33.8 1.6 1.7 1,060 1995:Q2 148 27.2 162 32.7 2.3 2.5 1,094 1995:Q1 116 16.6 122 13.9 1.9 2.0 1,048 1994:Q4 100 -4.6 107 -8.7 1.6 1.8 1,074 1994:Q3 104 -28.5 117 -24.2 1.6 1.8 1,122 1994:Q2 146 22.3 155 22.9 2.3 2.4 1,058 1994:Q1 199 15.2 126 3.1 1.9 2.0 1,053 1993:Q4 104 -2.6 122 5.5 1.6 1.9 1,176 1993:Q3 107 -27.7 116 -27.7 1.7 1.8 1,086 1993:Q2 147 20.6 160 17.2 2.3 2.5 1,086 1993:Q1 122 16.6 137 6.9 2.0 2.2 1,118 1992:Q4 105 -4.1 128 -1.8 1.7 2.1 1,219 1992:Q3 109 -28.1 130 -26.7 1.7 2.0 1,190 1992:Q2 152 19.6 177 15.9 2.4 2.8 1,168 1992:Q1 127 17.7 153 11.1 2.0 2.5 1,205 1991:Q4 108 -3.5 138 1.8 1.7 2.2 1,277 1991:Q3 112 -28.5 135 -26.3 1.7 2.1 1,210 1991:Q2 156 23.3 184 20 2.5 2.9 1,175 1991:Q1 127 16.1 153 8.8 2.1 2.5 1,206 1990:Q4 109 -6.2 141 -3.6 1.8 2.3 1,287 1990:Q3 117 -33.3 146 -15.7 1.9 2.3 1,251 1990:Q2 175 19.3 173 5.9 2.7 2.7 990 1990:Q1 146 28.8 163 10.6 2.4 2.6 1,116 1989:Q4 114 -6.6 148 -0.8 1.8 2.4 1,300 1989:Q3 122 -27.9 149 -19.7 1.9 2.4 1,224 1989:Q2 169 23.5 186 21.7 2.6 2.9 1,100 1989:Q1 137 16.1 153 n.a. 2.2 2.5 1,117 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. n.a. Not available.