Fedwire processed an average of 886,695 transfers per day in Q1 2026, according to Federal Reserve data published April 21. Average daily value reached $4.655 trillion. The Q1 volume figure is 2.0 percent above the 2025 full-year average of 869,187. Value rose 1.3 percent from the $4.593 trillion 2025 average. Monthly volumes increased from 872,174 per day in January to 906,477 in March.
CHIPS daily volume averaged 666,077 payments in Q1 2026. That is 5.3 percent above the 2025 average of 632,419. Daily settled value reached $2.237 trillion. That represents an 11.1 percent increase over $2.014 trillion in 2025. The value acceleration extends a 2025 trend when CHIPS recorded 9.1 percent year-over-year growth. Participant count held at 42.
The growth differential reflects the systems' distinct settlement profiles. Fedwire handles domestic interbank transfers and government payments that scale with nominal GDP. CHIPS concentrates international USD correspondent banking, where volumes track global trade and cross-border capital flows. April 2026 Fedwire data is expected in the coming weeks. The next structural milestone is the Fedwire 22x6 operating hours expansion, scheduled for 2028 or 2029.