2004 By the Numbers
2004 Annual Report - Operations Statistics
Published May 1, 2005 | May 2005 issue
In 2004, the Federal Reserve Bank of Minneapolis processed:
- 7.6 billion ACH (Automated Clearing House) payments worth approximately $15.5 trillion. FedACH is a nationwide system, built and operated by Minneapolis staff on behalf of the entire Federal Reserve System, that provides the electronic exchange of debits and credits.
- Over 900 million checks worth approximately $850 billion. The Minneapolis office is one of the largest check processing centers in the Federal Reserve System.
- $11.3 billion of excess currency received from financial institutions, destroyed $1.2 billion of worn and torn currency and shipped $12 billion of currency to financial institutions.
- 2.9 million savings bond purchase requests worth $4 billion, as one of five savings bond processing centers in the Federal Reserve System.
- Forms, tenders, account maintenance and other customer transactions for 523,000 active TreasuryDirect accounts for individuals holding Treasury securities totaling $61.7 billion, as one of three TreasuryDirect processing sites nationwide.
- Transaction items worth more than $340 billion through FR-ETA (Electronic Tax Application), a same-day payment mechanism, hosted by the Minneapolis Fed, for businesses paying federal taxes via their financial institutions.