Government Checks Processed by 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 (millions of items) |
Average daily value (billions of dollars) |
Average value per check (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 | 20.0 | 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 |
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.