Beginning this year, the Federal Reserve is permanently discontinuing holiday currency special ordering periods. The Reserve Banks suspended holiday currency special ordering periods in 2020 and 2021 due to the COVID-19 pandemic. We are now making this a permanent change.
While the holiday currency special ordering periods are being discontinued, the Reserve Banks continue to pay out new currency to depository institutions periodically throughout the year.
If your institution needs new currency for the holiday season, we recommend setting aside new notes as you receive them. While both the Federal Reserve and the overall cash supply chain continue to address pandemic-related operational challenges, the Federal Reserve Banks have sufficient currency reserves to meet the needs of depository institutions.
For questions about this change, please contact the Customer Contact Center.
Background
To operate efficiently and minimize currency printing costs, Federal Reserve Banks generally fill orders for currency with fit notes first, followed by new notes. Due to unprecedented demand for currency during the pandemic, the Reserve Banks have paid out higher amounts of new currency over the past 24 months, substantially increasing the number of new notes received by depository institutions.
