1. Key Messages: More than 18,500 paying institution routing transit numbers are receiving images for payment instead of paper checks. These represent almost 14,000 financial institutions. Substitute Checks have facilitated the transition from paper checks to check images. The volume of substitute checks peaked during the second quarter of 2008 with 875 million and then declined by 31% during the first quarter to 603 million. On an average day during March 2009, 13,778 institutions received over 53 million check images for posting. When the March volume is annualized, it totals 13.4 billion for $18.1 trillion. Also, another 9 million checks per day that were sent as images and delivered to paying institutions as substitute checks. These totaled 2.2 billion checks per year and $2.5 trillion. This CheckImage Collaborative image clearing report reflects transactions settled through the Federal Reserve, Viewpointe, SVPCO and local / regional exchanges. When the same payments were cleared through two or more of these organizations, those payments were counted only once. The 2007 Federal Reserve’s Payments Study shows that the volume of checks (both written and paid) continue to be larger than debit card, credit card or ACH transactions. The report also shows that the dollar amount of checks increased from 2003 to 2006 from $40 to $41.7 trillion. CheckImage Collaborative Communications Work Group

2. Highlights: Chart reflects volume received by DFIs for payment from other DFIs or an intermediary. Average daily image volume grew from 21.2 to 53.5 million from April 2007 to March 2009. March 2009 volume annualized is 13.4 billion images received per year. Based on the Fed’s 2007 Payments Study this is 44% of all checks paid in 2006. Data Sources: Transactions settled through the Federal Reserve, Viewpointe, SVPCO and other local / regional exchanges # Items in Millions Average # of Images Received /Day Mar-09 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 Aug-08 Oct-08 Dec-08 Feb-09 Apr-07 0 3 6 9 12 15 18 21 24 27 30 33 36 39 42 45 48 51 54

3. 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 # of R/Ts Receiving Images Highlights: Chart reflects the number of R/Ts that received images from other DFIs or an intermediary. Number of receiving R/Ts grew from 8,773 to 18,590 from April 2007 to March 2009. 18,590 routing transit numbers represents 13,778 institutions or approximately 87% of all U. S. institutions that received check images. Data Sources: Transactions settled through the Federal Reserve, Viewpointe, SVPCO and other local / regional exchanges 18,000 19,000 Mar-09 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 Aug-08 Oct-08 Dec-08 Feb-09 Apr-07 Number of R/Ts Receiving Images

4. Highlights: All checks were imaged before reconversion to substitute checks. Chart reflects checks received by DFIs for payment from other DFIs or an intermediary. The monthly dollar amount received grew from $958 billion to almost $1.58 trillion. Annualized March 2009 dollar amount = $18.1 trillion/yr. $18.1 trillion is 43% of the total dollars cleared via check payments. Data Sources: Transactions settled through the Federal Reserve, Viewpointe, SVPCO and other local / regional exchanges $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $ Amounts of Images & Substitute Checks Forward Collection Only $ Amounts in Billions Mar-09 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 Aug-08 Oct-08 Dec-08 Feb-09 Apr-07

5. Data Sources: Transactions settled through the Federal Reserve, Viewpointe, SVPCO and other local / regional exchanges Highlights: All checks were imaged before reconversion to substitute checks. Chart reflects volume received by DFIs for payment from other DFIs or an intermediary. Over 24 month period Image-based clearing volume grew from 677 to 1,377 million / mo with 85% of the volume cleared by image in March 2009 (22 days in March). The annualized March ‘09 volume (15.7 billion items/yr.) is approximately 51% of total check volume paid. 0 100 200 300 400 500 600 700 800 900 1,000 1,100 1,200 1,300 # Items in Millions 1,400 Substitute Checks Images # of Images & Substitute Checks Forward Collection Only Mar-09 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 Aug-08 Oct-08 Dec-08 Feb-09 Apr-07

6. Highlights: Chart reflects volume received by DFIs for payment from other DFIs or an intermediary. Average daily image volume grew from.08 to 50.98 million from Qtr 1 2005 to Qtr 1 2009. Qtr 1 2009 volume annualized is 12.4 billion images received per year. Based on the Fed’s 2007 Payments Study this is 41% of all checks paid in 2006. # Items in Millions 0 3 6 9 12 15 18 21 24 27 Average # of Images Received /Day Qtr 1 '05 Qtr 2 '05 Qtr 3 '05 Qtr 4 '05 Qtr 1 '06 Qtr 2 '06 Qtr 3 '06 Qtr 4 '06 Qtr 1 '07 Qtr 2 '07 Qtr 3 '07 Qtr 4 '07 Qtr 1 '08 Qtr 2 '08 Qtr 3 '08 Qtr 4 '08 Data Sources: Transactions settled through the Federal Reserve, Viewpointe, SVPCO and other local / regional exchanges 30 33 36 39 42 45 48 Qtr 1 ‘09

7. Highlights: Chart reflects images checks received by DFIs for payment from other DFIs or an intermediary. The quarterly dollar amount of images received grew from $1.7 billion to $3.7 trillion. Annualized Quarter 1 2009 dollar amount = $14.9 trillion/yr. $14.9 trillion is 37% of the total dollars cleared via check and is about 5 times the sum of all debit card and credit card payments. Data Sources: Transactions settled through the Federal Reserve, Viewpointe, SVPCO and other local / regional exchanges $ Amounts in Billions $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 Qtr 1 '05 Qtr 2 '05 Qtr 3 '05 Qtr 4 '05 Qtr 1 '06 Qtr 2 '06 Qtr 3 '06 Qtr 4 '06 Qtr 1 '07 Qtr 2 '07 Qtr 3 '07 Qtr 4 '07 Qtr 1 '08 Qtr 2 '08 Qtr 3 '08 Qtr 4 '08 Qtr 1 ‘09 $4,000 $ Amounts of Images Received by Paying Institution