Statistics, Facts & Such
- It is estimated that this year Americans will use $80 billion in equity from their homes by refinancing. Fannie Mae, U. S. News & World Report, Nov.19, 2001, p40
- The financial services industry in the United States has grown to $810 billion. MONEY, Nov., 2001, p86
- The amount of money laundering accomplished in the world totals as much as $1.5 trillion in a year's time. MONEY, Jan., 2002, p91
- About 50 billion checks were written in 2001, worth $47.7 trillion. The number is less than the 65 billion checks that Fed forecast would be written last year. Federal Reserve, November, 2001
- 25.7% of the checks written last year were for the payment of bills. It is estimated that about 19% were used in retail situations, in-store, at the point of sale. Ibid.
- 22 years ago, 85% of noncash payments were made by check. Today 60% are. 22 years ago almost 15% of noncash transactions were electronic, primarily initiated with credit cards. Today over 37% of noncash transactions are done electronically, about 10% by debit cards. Ibid.
- The European Central Bank has distributed for use a 500-Euro note. Worth about $440 in our money, it is a much larger denomination than is available in other currencies in the world. U.S. News & World Report, Jan. 7, 2002, p20
- New home sales during the year up to November, 2001 were 6% over the number sold by November of 2000, according to data released by the Census Bureau and the Department of Housing and Urban Development. Freddie Mac projects mortgage rates will hover between 7% and 7.25% in 2002. American Banker, Dec. 31
- More than 40 million Americans filed their taxes electronically in 2001. 40 million more used
Copyright © 2002 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 12, No. 1, 1/02
First published on 01/01/2002