The Region

2006 by the Numbers

2006 Operations Report

Published May 1, 2007  | May 2007 issue

In 2006, the Federal Reserve Bank of Minneapolis processed:

  • 9.4 billion ACH (Automated Clearing House) payments worth approximately $16.6 trillion. FedACH is a nationwide system, developed and operated by Minneapolis staff on behalf of the entire Federal Reserve System, that provides the electronic exchange of debits and credits.

  • 769 million checks worth $851 billion. The Minneapolis office is one of the larger check processing centers in the Federal Reserve System.

  • $10.9 billion of excess currency received from financial institutions, destroyed $945 million of worn and torn currency, and shipped $12.3 billion of currency to financial institutions.

  • Forms, tenders, account maintenance and other customer transactions for 400,000 active Legacy TreasuryDirect accounts for individuals holding Treasury securities totaling $72 billion and 4.25 million savings bond purchase requests worth $4.1 billion, as one of two Treasury Retail Securities sites in the Federal Reserve System.

  • Transaction items worth more than $456 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.