FedCash® Services Business Continuity Guide
Disruption to FedCash Services
The Federal Reserve System’s FedCash Services processes orders for currency and coin via the FedLine Web® Solution; and accepts deposits of excess fit and unfit currency and excess coin from domestic and international depository institutions.
Disruptions to FedCash Services will often take two forms: automated Cash ordering disruptions and building or other site-specific disruptions.
Automated Cash Ordering Disruptions
In the event of a FedLine Web disruption that affects the automated Cash ordering systems at the Federal Reserve, the processing of FedLine Web orders may be suspended until the affected system is restored. When automated ordering systems are unavailable, Cash customers may place their orders for currency and/or coin via email or fax. Reserve Banks must either receive written order instructions from a confirmed person on the financial institution’s Official Authorization List (OAL) or emailed order instructions from a confirmed person authorized to order for the financial institution with a person from the OAL copied on the email. Emails or faxes should include financial institution name, endpoint number, order ship date, and denomination breakdown and totals for currency and coin. Orders must be in standard increments.
If you cannot use your normal ordering channels, please call FedCash Services at your local Federal Reserve Office.
Building and Other Site-Specific Disruptions
FedCash Services operations may be affected by inclement weather (hurricane, flooding, snowstorms, etc.), power outages and other events. Such events may cause disruptions to normal Federal Reserve office operations, and to local transportation networks and other key infrastructures. Federal Reserve offices have established various means of informing customers of such events. If your local Federal Reserve office becomes inaccessible for an extended period of time, you may be directed to place orders with other Federal Reserve offices. To learn more about how your local Federal Reserve office will respond to a site-specific disruption, please refer to the FedCash Services page of your local Federal Reserve Office.
How You Should Prepare
If a major disruption to service occurs, your local Federal Reserve office may not be able to meet your ordinary needs for currency and coin. To prepare for potential disruptions due to the inability to meet your currency and coin needs, you may want to consider the following:
- Have a tested business continuity plan in place that addresses issues related to an inability to access currency and coin during disruptions, as well as the potential for increased demand.
- Have contact numbers and website address(es) for FedCash Services at your local Federal Reserve Office available.
- Have the link to FRBservices.org available and bookmarked, so you can check for Service Status updates.
- Have contact numbers for your armored carrier(s) available.
- Consider how your institution will respond to a Federal Reserve office disruption and communicate those plans to appropriate staff. Refer to the Checklist for Fed-Related Preparations (PDF) for suggestions about what to do during and after a major disruption.
What You Can Expect
FedCash Services have devoted significant attention and resources to reduce the likelihood of a service disruption and to continue operations if problems do occur. However, and particularly in the early stages of a problem, your institution may encounter a temporary disruption in normal service levels. This may include, but is not necessarily limited to, the following:
Hours of Operation
Your institution may experience changes in hours of operation and/or pickup and delivery schedules.
Currency and Coin Orders
Fulfilling currency orders is the highest priority service of FedCash Services. However, during disruptions, temporary restrictions may be placed on the amount of currency and coin your institution can order from a particular Federal Reserve office. You may also experience delays in having your orders fulfilled.
Currency and Coin Deposits
Disruptions that affect FedCash Services operations may cause your institution to experience delays in making deposits. If a Federal Reserve office is aware of an incoming deposit, and is in a position to do so, it may work with your institution’s armored carrier to redirect that deposit to another Federal Reserve office.
Debits and Credits
Your institution may experience delays in receiving debits and credits for currency and coin orders and deposits.
Event Communications
Depository institutions and armored carriers will be notified of a disruption and provided with information about the event, including their local Federal Reserve office’s availability and changes in the provision of FedCash Services. The FRBservices.org website is the Federal Reserve’s primary communication channel for events affecting FedCash Services. Event-related announcements and information on potential impacts to service delivery are posted on the Service Status page. For some events, alerts via FedLine Home and direct email announcements are distributed to FedLine Web subscribers. Depository institutions and carriers are also encouraged to visit the FedCash Services page of your local Federal Reserve Office.
What You Should Do
Depository Institutions
- For large-scale business disruptions, check Service Status, your local Federal Reserve office’s website or the FedLine Web Solution for updated information.
- If you become aware of a business disruption at a Federal Reserve office, please notify appropriate operations personnel in your organization.
- Notify armored carriers of your operating status, special needs, alternate site(s), and revised hours of operation, if known.
- The Federal Reserve may ask you to participate in conference calls to communicate your status and concerns.
- If our automated ordering systems are unavailable, or you need to speak with somebody at the Federal Reserve, please call FedCash Services at your local Federal Reserve Office.
- To help your Federal Reserve office expedite a full recovery, please attempt to minimize the points of contact within your organization that are calling that Federal Reserve office.
- Place only critical orders.
- Retain and/or reuse your excess currency (fit and unfit).
- Exchange currency and coin among your branches.
- Contact your correspondent and other depository institutions for cash services.
- If you can, use your branches/cash vaults in other Federal Reserve zones to order and receive currency and coin on your behalf.
- Please note that if there is a disruption at a Federal Reserve office that causes your institution’s orders or deposits to be delayed or directed to another Federal Reserve office, cross-shipping fees may be waived.
- Be aware of and review Guidelines for Preparing Contaminated Currency if flooding is a concern.
Armored Carriers
Though it is usually depository institutions that hire armored carrier services, the Federal Reserve may contact carriers directly during business continuity events to discuss Federal Reserve System operations or to obtain armored carrier services on its own behalf. No communications or actions by the Federal Reserve are intended to interfere with the carrier-depository institution business relationship.
- For large-scale business disruptions, check Service Status or your local Federal Reserve office’s website for updated information.
- If you become aware of a business disruption at a Federal Reserve office, please notify appropriate personnel in your organization.
- If you need to speak with somebody at the Federal Reserve, please call FedCash Services at your local Federal Reserve Office.
- To help your Federal Reserve office expedite a full recovery, please attempt to minimize the points of contact within your organization that are calling the Federal Reserve office.
- If the Federal Reserve changes its hour of operation or switches to alternate site(s), you may receive notification from depository institutions, the Federal Reserve, or both.
- The Federal Reserve may ask you to communicate with them directly about your status and concerns or ask you to participate in conference calls.
- The Federal Reserve may inquire about your availability and/or fees to: (a) provide transportation for special shipments, (b) operate your services outside normal working hours, (c) operate a Federal Reserve-sponsored Stem Run (special armored carrier transportation run that delivers currency orders directly to a depository institution or carrier location), etc. as part of responding to an event.
- The Federal Reserve may ask you to participate in a Federal Reserve-sponsored Stem Run as a drop point, which involves providing information about facilities, contacts, and potential drop-off schedules and confirming your willingness to comply with Stem Run controls and procedures.
- You may be asked to use your sites near other Federal Reserve offices to pick up orders and make deposits.
- Because depository institutions may be asked to exchange currency and coin among branches or between depository institutions, you may be asked to provide transportation or other services to facilitate exchanges, either within your facility, among your sites, or with other carriers.
- Because depository institutions may be asked to retain and re-use currency, you may be asked to provide services to facilitate retention and re-use, which may include changes to ATM servicing arrangements.
- Ensure you are prepared during a disruption by reviewing the Checklist for Fed-Related Preparations (PDF).
After a Disruption
Continue to use the designated site for pickups and deliveries until your institution has been notified that your local Federal Reserve office has returned to normal business operations.