The Region

2008 By the Numbers

2008 Annual Report

Published May 29, 2009  |  May 2009 issue

In 2008, the Federal Reserve Bank of Minneapolis processed:

  • 11.4 billion ACH (Automated Clearing House) payments worth approximately $19.8 trillion. FedACH is a nationwide system, developed and operated by Minneapolis staff on behalf of the entire Federal Reserve System, which provides the electronic exchange of debits and credits.
  • 850 million check items worth $810 million; 80 percent of the items were received electronically.
  • $10.5 billion of currency deposits from financial institutions, destroyed $963 million of worn and torn currency, and shipped $12.4 billion of currency to financial institutions.
  • Tenders, account maintenance, forms, and other customer transactions for 319,000 active Legacy Treasury Direct accounts for individuals holding Treasury securities totaling $62 billion, and 3.6 million savings bond purchase requests worth $1.8 billion, as one of two Treasury Retail Securities sites in the Federal Reserve System.
  • 209,700 transaction items valued at $505 billion through FR-ETA (Federal Reserve-Electronic Tax Application), a same-day payment mechanism, hosted by the Minneapolis Fed, for businesses paying federal taxes via their financial institutions.

 

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