September 7, 2017
To: Depository Institutions (DIs) Serviced by the Houston Branch of the Federal Reserve Bank of Dallas and its San Antonio Cash Depot, and their armored carriers
If you have currency that has been contaminated by flood waters resulting from Hurricane Harvey, you are encouraged to deposit that currency with the Federal Reserve at your earliest convenience.
The Federal Reserve’s Operating Circular 2 includes specific procedures related to preparing contaminated currency deposits. Detailed information, including required advance notification to the depositing office and an instructional video on how to package contaminated currency, is available on the FRBservices.org website under Contaminated Currency and Coin. Deposits should be made using these contaminated currency guidelines to the extent possible. We encourage DIs to convey this information as appropriate to your customers to facilitate the expedient, safe acceptance of flood-damaged currency deposits.
If currency is in such poor condition that all Operating Circular 2 requirements cannot be followed, the deposit should meet as many of the Operating Circular 2 requirements as possible and then follow these procedures:
You are encouraged to deposit currency contaminated by Hurricane Harvey as soon as possible.
The Federal Reserve can provide contaminated currency deposit bags to assist you with properly packaging your contaminated currency. To obtain bags, please contact the Houston Branch Cash Services Department at P: (713) 483-3634. (Please note that supplies are limited to the amount needed for deposits for this event.)
Cross-shipping fee waivers are being issued for the weeks of August 21 and 28 for the following zones and sub-zones: Houston zone, San Antonio zone, and the McAllen-Edinburg-Mission subzone.
As a reminder, the Federal Reserve does not accept deposits of contaminated coin. The Contaminated Currency and Coin page on FRBservices.org recommends consulting the CDC website for further information on decontaminating coin.
Please contact the Houston Branch of the Federal Reserve Bank of Dallas at P: (713) 483-3634 if you need assistance or additional information.