Commercial Checks Collected through 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) |
|---|---|---|---|---|---|---|---|
| 2024:Q2 | 754 | 1.9 | 2,135 | 8.0 | 12.0 | 33.9 | 2,831 |
| 2024:Q1 | 740 | -4.2 | 1,977 | -2.9 | 11.9 | 31.9 | 2,670 |
| 2023:Q4 | 773 | 0.6 | 2,037 | -0.1 | 12.5 | 32.8 | 2,634 |
| 2023:Q3 | 769 | -4.6 | 2,039 | -8.2 | 12.2 | 32.4 | 2,653 |
| 2023:Q2 | 806 | 0.8 | 2,222 | 3.3 | 12.8 | 35.3 | 2,758 |
| 2023:Q1 | 799 | -2.5 | 2,152 | 0.3 | 12.9 | 34.7 | 2,693 |
| 2022:Q4 | 819 | -2.5 | 2,144 | -2.7 | 13.4 | 35.2 | 2,617 |
| 2022:Q3 | 840 | -3.0 | 2,204 | -10.3 | 13.1 | 34.4 | 2,623 |
| 2022:Q2 | 866 | 2.2 | 2,456 | 14.6 | 13.7 | 39.0 | 2,836 |
| 2022:Q1 | 848 | -8.2 | 2,143 | -4.0 | 13.7 | 34.6 | 2,528 |
| 2021:Q4 | 924 | 2.4 | 2,234 | 5.0 | 14.7 | 35.5 | 2,417 |
| 2021:Q3 | 902 | -3.0 | 2,127 | -9.4 | 14.1 | 33.2 | 2,358 |
| 2021:Q2 | 930 | 3.3 | 2,348 | 14.7 | 14.5 | 36.7 | 2,525 |
| 2021:Q12 | 901 | -3.6 | 2,048 | 1.2 | 14.8 | 33.6 | 2,274 |
| 2020:Q4 | 935 | -0.6 | 2,025 | -5.4 | 14.2 | 30.7 | 2,166 |
| 2020:Q3 | 940 | 5.3 | 2,141 | 24.3 | 14.7 | 33.5 | 2,278 |
| 2020:Q2 | 893 | -10.7 | 1,723 | -13.2 | 13.9 | 26.9 | 1,930 |
| 2020:Q1 | 999 | -7.9 | 1,986 | -2.5 | 16.1 | 32.0 | 1,987 |
| 2019:Q4 | 1,085 | 0.1 | 2,037 | -0.9 | 17.5 | 32.9 | 1,877 |
| 2019:Q3 | 1,084 | -3.9 | 2,055 | -8.0 | 16.9 | 32.1 | 1,895 |
| 2019:Q2 | 1,128 | 3.3 | 2,234 | 12.1 | 17.6 | 34.9 | 1,981 |
| 2019:Q1 | 1,091 | -6.6 | 1,992 | -3.8 | 17.9 | 32.7 | 1,825 |
| 2018:Q4 | 1,169 | 1.9 | 2,072 | 0.0 | 18.9 | 33.4 | 1,772 |
| 2018:Q3 | 1,147 | -5.4 | 2,072 | -8.9 | 18.2 | 32.9 | 1,805 |
| 2018:Q2 | 1,212 | 0.1 | 2,274 | 10.0 | 18.9 | 35.5 | 1,875 |
| 2018:Q1 | 1,211 | -4.6 | 2,068 | -0.2 | 19.5 | 33.4 | 1,708 |
| 2017:Q4 | 1,268 | 1.1 | 2,072 | 1.4 | 20.8 | 34.0 | 1,634 |
| 2017:Q3 | 1,255 | -5.1 | 2,044 | -9.1 | 19.9 | 32.4 | 1,629 |
| 2017:Q2 | 1,322 | 1.2 | 2,249 | 8.5 | 20.7 | 35.1 | 1,700 |
| 2017:Q1 | 1,307 | -1.2 | 2,072 | 2.7 | 21.1 | 33.4 | 1,586 |
| 2016:Q4 | 1,322 | 2.5 | 2,017 | 1.4 | 21.7 | 33.1 | 1,526 |
| 2016:Q3 | 1,289 | -2.7 | 1,990 | -7.1 | 20.1 | 31.1 | 1,544 |
| 2016:Q2 | 1,325 | 1.5 | 2,142 | 10.4 | 20.7 | 33.5 | 1,617 |
| 2016:Q1 | 1,305 | -3.9 | 1,939 | -1.8 | 21.1 | 31.3 | 1,486 |
| 2015:Q4 | 1,358 | 0.2 | 1,974 | -2.1 | 21.9 | 31.8 | 1,454 |
| 2015:Q3 | 1,355 | -3.0 | 2,018 | -7.6 | 21.2 | 31.5 | 1,489 |
| 2015:Q2 | 1,396 | 3.9 | 2,183 | 12.8 | 21.8 | 34.1 | 1,564 |
| 2015:Q1 | 1,344 | -6.7 | 1,935 | -4.1 | 22.0 | 31.7 | 1,440 |
| 2014:Q4 | 1,441 | 0.5 | 2,018 | -0.4 | 23.2 | 32.6 | 1,401 |
| 2014:Q3 | 1,433 | -2.4 | 2,027 | -6.9 | 22.4 | 31.7 | 1,414 |
| 2014:Q2 | 1,468 | 4.9 | 2,178 | 15.5 | 22.9 | 34.0 | 1,483 |
| 2014:Q1 | 1,400 | -5.7 | 1,886 | -1.9 | 22.9 | 30.9 | 1,348 |
| 2013:Q4 | 1,484 | 0.2 | 1,922 | -2.1 | 23.9 | 31.0 | 1,295 |
| 2013:Q3 | 1,481 | -3.1 | 1,964 | -7.4 | 23.1 | 30.7 | 1,326 |
| 2013:Q2 | 1,528 | 2.3 | 2,122 | 8.6 | 23.9 | 33.2 | 1,388 |
| 2013:Q1 | 1,495 | -5.8 | 1,953 | -3.1 | 24.5 | 32.0 | 1,307 |
| 2012:Q4 | 1,587 | 2.5 | 2,016 | 2.2 | 25.6 | 32.5 | 1,271 |
| 2012:Q3 | 1,548 | -5.7 | 1,972 | -8.4 | 24.6 | 31.3 | 1,274 |
| 2012:Q2 | 1,641 | 1.0 | 2,154 | 7.2 | 25.6 | 33.7 | 1,312 |
| 2012:Q1 | 1,626 | -2.8 | 2,010 | 0.4 | 26.2 | 32.4 | 1,236 |
| 2011:Q4 | 1,673 | 3.5 | 2,002 | 1.3 | 27.4 | 32.8 | 1,197 |
| 2011:Q3 | 1,617 | -5.1 | 1,976 | -1.1 | 25.3 | 30.9 | 1,222 |
| 2011:Q2 | 1,703 | 0.2 | 1,998 | 1.5 | 26.6 | 31.2 | 1,173 |
| 2011:Q1 | 1,699 | -7.8 | 1,968 | -7.4 | 27.4 | 31.7 | 1,159 |
| 2010:Q4 | 1,842 | -0.8 | 2,125 | 0.0 | 29.2 | 33.7 | 1,154 |
| 2010:Q3 | 1,857 | -8.2 | 2,126 | -6.4 | 29.0 | 33.2 | 1,145 |
| 2010:Q2 | 2,022 | 1.5 | 2,271 | -1.4 | 31.6 | 35.5 | 1,123 |
| 2010:Q1 | 1,992 | -5.9 | 2,302 | -8.2 | 32.7 | 37.7 | 1,156 |
| 2009:Q4 | 2,118 | 2.0 | 2,508 | -3.3 | 34.2 | 40.4 | 1,184 |
| 2009:Q3 | 2,075 | -7.3 | 2,593 | -4.2 | 31.9 | 39.9 | 1,249 |
| 2009:Q2 | 2,238 | 3.9 | 2,706 | 2.7 | 35.0 | 42.3 | 1,209 |
| 2009:Q1 | 2,154 | -8.8 | 2,634 | -12.5 | 35.3 | 43.2 | 1,223 |
| 2008:Q4 | 2,361 | -0.9 | 3,012 | -13.6 | 38.1 | 48.6 | 1,276 |
| 2008:Q3 | 2,381 | -1.7 | 3,488 | -2.6 | 37.2 | 54.5 | 1,465 |
| 2008:Q2 | 2,422 | 1.7 | 3,583 | -2.6 | 37.8 | 56.0 | 1,479 |
| 2008:Q1 | 2,381 | -4.4 | 3,677 | -4.8 | 38.4 | 59.3 | 1,544 |
| 2007:Q4 | 2,489 | 2.7 | 3,863 | -0.2 | 40.1 | 62.3 | 1,552 |
| 2007:Q3 | 2,424 | -4.8 | 3,869 | -6.2 | 38.5 | 61.4 | 1,596 |
| 2007:Q2 | 2,547 | 0.2 | 4,124 | 2.0 | 39.8 | 64.4 | 1,619 |
| 2007:Q1 | 2,541 | -3.5 | 4,043 | 0.1 | 41.0 | 65.2 | 1,591 |
| 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 |
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.