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Insert US Currency Field into the Retention Agreement

Insert US Currency Field into the Retention Agreement

Aug 6th, 2022

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How to Insert US Currency Field into the Retention Agreement

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[Michael Lambert] So how does cash get into circulation? Well, we all know what we do when we go to an ATM or we go to a bank branch to get our cash, but how does it actually get there? We at the Federal Reserve Board are the issuing authority for U.S. currency, and what that means is that we ask the Bureau of Engraving and Printing each year to print the notes that we order, and as they print them and they go through their quality inspection system and they make it into the Federal Reserves vault at the Bureau of Engraving and Printing, then we are prepared to issue these notes to the public ultimately through the Federal Reserve banks. So literally they go from the BEPs vault into the Federal Reserves vault. From the Federal Reserve Boards vault, we move the currency to our 12 Federal Reserve banks across the country, and as banks order cash, our Reserve banks are able to meet that demand, and thats the point at which that currency makes its way into circulation. The currency th

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