Commercial Checks Collected through 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 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) 2011:Q4 1,762 9.0 2,565 5.2 28.9 42.0 1,456 2011:Q3 1,617 -5.1 2,438 -0.4 25.3 38.1 1,508 2011:Q2 1,703 0.2 2,448 0.0 26.6 38.2 1,437 2011:Q1 1,699 -7.8 2,449 -7.6 27.4 39.5 1,442 2010:Q4 1,842 -0.8 2,651 0.0 29.2 42.1 1,440 2010:Q3 1,857 -8.2 2,651 -6.7 29.0 41.4 1,428 2010:Q2 2,022 1.5 2,843 -2.7 31.6 44.4 1,406 2010:Q1 1,992 -5.9 2,921 -8.3 32.7 47.9 1,467 2009:Q4 2,118 2.0 3,185 -4.7 34.2 51.4 1,504 2009:Q3 2,075 -7.3 3,342 -7.2 31.9 51.4 1,610 2009:Q2 2,238 3.9 3,601 -0.8 35.0 56.3 1,609 2009:Q1 2,154 -8.8 3,631 -5.1 35.3 59.5 1,686 2008:Q4 2,361 -0.9 3,826 -0.8 38.1 61.7 1,621 2008:Q3 2,381 -1.7 3,857 5.3 37.2 60.3 1,620 2008:Q2 2,422 1.7 3,665 -5.2 37.8 57.3 1,513 2008:Q1 2,381 -4.4 3,868 0.6 38.4 62.4 1,625 2007:Q4 2,489 2.7 3,846 4.6 40.1 62.0 1,545 2007:Q3 2,424 -4.8 3,678 -1.4 38.5 58.4 1,518 2007:Q2 2,547 0.2 3,731 4.0 39.8 58.3 1,465 2007:Q1 2,541 -3.5 3,586 -11.2 41.0 57.8 1,411 2006:Q4 2,633 -2.1 4,037 -3.7 42.5 65.1 1,533 2006:Q3 2,690 -6.1 4,191 -1.0 42.7 66.5 1,558 2006:Q2 2,863 -1.2 4,232 6.3 44.7 66.1 1,478 2006:Q1 2,897 -2.9 3,983 -0.5 46.7 64.2 1,375 2005:Q4 2,982 0.0 4,001 -1.6 48.9 65.6 1,342 2005:Q3 2,982 -4.7 4,066 2.5 46.6 63.5 1,364 2005:Q2 3,128 -0.2 3,966 8.6 48.9 62.0 1,268 2005:Q1 3,136 -3.9 3,651 3.5 50.6 58.9 1,164 2004:Q4 3,262 -3.9 3,527 -1.4 51.8 56.0 1,081 2004:Q3 3,394 -5.5 3,579 -3.2 53.0 55.9 1,054 2004:Q2 3,593 -1.7 3,695 6.1 56.0 58.0 1,029 2004:Q1 3,656 -5.3 3,484 -5.1 58.6 55.9 953 2003:Q4 3,859 -0.7 3,672 -8.9 62.0 59.0 952 2003:Q3 3,887 -4.2 4,031 1.2 61.0 63.0 1,037 2003:Q2 4,058 1.4 3,983 6.3 63.0 62.0 981 2003:Q1 4,001 -4.6 3,745 -4.4 63.0 61.0 936 2002:Q4 4,193 1.9 3,918 3.2 68.0 63.0 934 2002:Q3 4,114 -2.2 3,798 0.8 64.0 59.0 923 2002:Q2 4,208 3.4 3,768 6.2 66.0 59.0 895 2002:Q1 4,071 -2.7 3,548 -5.6 67.0 58.0 872 2001:Q4 4,183 0.5 3,757 1.7 67.0 61.0 898 2001:Q3 4,164 -3.3 3,694 -4.6 66.0 59.0 887 2001:Q2 4,307 1.3 3,870 9.6 67.0 60.0 899 2001:Q1 4,251 -0.6 3,531 2.2 69.0 57.0 831 2000:Q4 4,276 2.2 3,456 0.9 69.0 56.0 808 2000:Q3 4,185 -3.3 3,426 -3.9 66.0 54.0 819 2000:Q2 4,328 3.0 3,566 4.9 68.0 56.0 824 2000:Q1 4,204 -4.0 3,400 -2.4 67.0 54.0 809 1999:Q4 4,381 4.1 3,483 2.7 70.0 55.0 795 1999:Q3 4,207 -2.2 3,390 -4.4 66.0 53.0 806 1999:Q2 4,304 2.9 3,547 5.3 67.0 55.0 824 1999:Q1 4,182 -3.1 3,369 -0.1 69.0 55.0 805 1998:Q4 4,316 5.2 3,373 10.3 70.0 54.0 781 1998:Q3 4,102 -1.2 3,057 -6.7 63.0 47.0 745 1998:Q2 4,152 3.7 3,276 -3.1 65.0 51.0 789 1998:Q1 4,004 -3.8 3,379 6.1 66.0 55.0 844 1997:Q4 4,162 3.8 3,185 1.9 67.0 51.0 765 1997:Q3 4,009 0.6 3,128 2.0 63.0 49.0 780 1997:Q2 3,985 5.0 3,068 10.1 62.0 48.0 770 1997:Q1 3,793 -4.2 2,787 -4.4 62.0 46.0 735 1996:Q4 3,958 2.9 2,916 2.0 64.0 47.0 737 1996:Q3 3,847 -1.1 2,860 -3.6 60.0 45.0 743 1996:Q2 3,889 2.5 2,966 4.3 61.0 46.0 763 1996:Q1 3,793 -2.0 2,843 -2.3 61.0 46.0 750 1995:Q4 3,870 2.8 2,911 1.8 62.0 47.0 752 1995:Q3 3,764 -4.2 2,858 -2.9 60.0 45.0 759 1995:Q2 3,929 0.7 2,943 2.9 61.0 46.0 749 1995:Q1 3,903 -2.6 2,859 -1.5 63.0 46.0 733 1994:Q4 4,007 0.3 2,904 0.1 66.0 48.0 725 1994:Q3 3,996 -4.6 2,901 -5.5 62.0 45.0 726 1994:Q2 4,188 -2.3 3,072 -4.1 65.0 48.0 733 1994:Q1 4,288 -11.2 3,203 -12.7 69.0 52.0 747 1993:Q4 4,831 3.2 3,671 5.0 77.0 58.0 760 1993:Q3 4,684 -2.7 3,496 -2.5 73.0 55.0 746 1993:Q2 4,816 2.9 3,587 8.5 75.0 56.0 745 1993:Q1 4,678 -4.0 3,307 -3.2 77.0 54.0 707 1992:Q4 4,873 3.7 3,416 4.2 79.0 55.0 701 1992:Q3 4,698 -1.8 3,278 -2.3 72.0 50.0 698 1992:Q2 4,784 1.8 3,354 5.0 75.0 52.0 701 1992:Q1 4,699 -2.7 3,194 2.9 76.0 52.0 680 1991:Q4 4,831 3.6 3,104 1.7 77.0 49.0 643 1991:Q3 4,662 -0.9 3,054 -1.5 73.0 48.0 655 1991:Q2 4,706 3.6 3,100 6.3 75.0 49.0 659 1991:Q1 4,544 -4.6 2,915 -6.4 74.0 48.0 642 1990:Q4 4,762 4.6 3,115 1.1 77.0 50.0 654 1990:Q3 4,552 -3.0 3,079 -5.3 72.0 49.0 676 1990:Q2 4,691 2.2 3,252 5.9 73.0 51.0 693 1990:Q1 4,590 0.0 3,071 -0.6 74.0 50.0 669 1989:Q4 4,592 3.7 3,091 2.3 74.0 50.0 673 1989:Q3 4,428 -2.9 3,020 -5.7 70.0 48.0 682 1989:Q2 4,558 2.7 3,204 6.3 71.0 50.0 703 1989:Q1 4,436 0.7 3,014 2.2 72.0 49.0 679