Commercial Automated Clearinghouse Transactions 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 transaction (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 |
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.
3. Beginning in 1997, reported ACH volumes do not include non-value items. Return to table
4. Data for years preceding 1991 do not include items sent to the Reserve Banks by the New York Automated Clearinghouse. Return to table