CHIPS Crosses $2 Trillion in Daily Value as Huntington Joins Network

Huntington National Bank became CHIPS's 43rd direct participant on May 19, 2026, following its merger with Cadence Bank. The network's continuous matching engine now settles payments for 43 clearing members, reducing required prefunding to roughly $96 billion against more than $2 trillion in gross throughput.

The Clearing House reported that CHIPS average daily value rose 9 percent year-over-year to $2.014 trillion in 2025. Average daily volume grew 12 percent over the same period, reaching approximately 632,000 transactions. Daily economic savings from the netting algorithm increased to $15.4 million from $14.3 million in 2024. Annualized savings reached $5.6 billion.

CHIPS's netting mechanism allows participants to settle $2 trillion in daily payment value with roughly $96 billion in funding. The Clearing House estimates that without netting, the same volume would require approximately $442 billion in prefunded liquidity. The resulting efficiency ratio is 26 to 1. In contrast, pure real-time gross settlement systems like Fedwire require full upfront funding for each transaction.

Huntington National Bank joined as the 43rd direct CHIPS participant on May 19, 2026. The addition followed Huntington's completion of its merger with Cadence Bank in February 2026. The combined institution holds approximately $279 billion in assets. CHIPS direct participation remains concentrated among globally active banks with substantial dollar clearing operations.