On March 17, 2006, the Federal Reserve Board of Governors released a Federal Register Notice regarding the Currency Recirculation Policy. The notice covers the intentions of the policy, which are to reduce overuse of Federal Reserve Bank services, motivate recirculation best practices and reduce the societal cost of providing fit currency. For more information, you may review the following:
Provides your institution with an option to help offset the opportunity costs associated with holding additional currency in your vaults to facilitate its recirculation. By participating in the Custodial Inventory Program you will be allowed to transfer currency to the Federal Reserve Bank's books, but continue to physically hold the currency within your secured facility.
Provide timely information regarding your institution's cross-shipping activity online, allowing your institution to better monitor and manage your cross-shipping activity.
Covered Denominations: $10, $20
De Minimis Exemption: 875 bundles per quarter
Recirculation Fee: $5 per bundle
Subzones: Albuquerque, Anchorage, Central Florida, Charleston, Columbus, Grand Rapids, Honolulu, Indianapolis, Las Vegas, Raleigh-Durham-Chapel Hill, San Diego, and McAllen-Edinburg-Mission (South Texas)
For more detail on these topics, review the OC 2 Referenced Information
Address comments and questions to the Financial Services Webmaster.
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