The Region

2007 by the Numbers

2007 Annual Report: Operations Statistics

Published May 1, 2008  | May 2008 issue

In 2007, the Federal Reserve Bank of Minneapolis processed:

  • 10.6 billion ACH (Automated Clearing House) payments worth approximately $18.4 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.

  • 825 million check items worth $1.2 trillion; 52 percent of the items were received electronically.

  • $10.3 billion of excess currency deposited by financial institutions, destroyed $939 million of worn and torn currency, and shipped $11.7 billion of currency to financial institutions.

  • Forms, tenders, account maintenance and other customer transactions for 365,000 active Legacy Treasury Direct accounts for individuals holding Treasury securities totaling $70 billion, and 3.7 million savings bond purchase requests worth $2.0 billion, as one of two Treasury Retail Securities sites in the Federal Reserve System.

  • 219,000 transaction items worth more than $519 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.