The Federal Reserve Banks offer FedCash Services to help ensure that depository institutions have sufficient supplies of currency and coin to meet public demand. FedCash Services also enable depository institutions and armored carriers to electronically manage Custodial Inventory and Coin Terminal services operations via the FedLine Web® access solution.
To drive improved efficiency, security and risk management of currency and coin processing, the Reserve Banks are advancing technology and delivering greater standardization of services across the Federal Reserve System. Today’s FedCash Services are easy-to-use and provide consistent, timely and robust services and information.
Each Federal Reserve District maintains currency depositing and ordering operations to accept deposits of excess and unfit currency and process currency orders. The Federal Reserve Banks act as a distribution center for the issuance of new currency designed and printed by the Bureau of Engraving and Printing (Off-site Link). To accommodate the growth of U.S. currency in circulation and replace destroyed unfit currency, the Federal Reserve issues newly printed currency each year. In order to operate efficiently and reduce societal cost, the Federal Reserve Banks fill orders for currency with fit currency first and then with newly printed currency and require the recirculation of fit currency by financial institutions.
Each Federal Reserve District maintains coin depositing and ordering operations to accept deposits of excess coin and process coin orders. The Federal Reserve Banks act as a distribution center for new coins developed by the United States Mint (Off-site Link). To best meet public demand for new coin releases, the Federal Reserve Banks have established an ordering process to make distribution easy and efficient.
The Custodial Inventory (CI) program is a feature of the Recirculation Policy, whereby participating institutions can hold inventory in their vaults on the books of and on behalf of the Federal Reserve Banks. Depository institutions and armored carriers with outsourced CIs manage CI sites using FedCash Services via the FedLine Web access solution by opening and closing the CI vault, reporting vault holdings and payments to customers daily, entering other transactions, and accessing various reports as needed.
A coin terminal is a secure facility operated by an armored carrier that holds Reserve Bank inventories of coin, and that receives deposits from and fulfills orders of coins for financial institutions on behalf of the Federal Reserve Bank. Coin terminal operators are contracted by the Federal Reserve Bank to perform these services and manage the coin terminals using FedCash Services via the FedLine Web access solution by opening and closing the vault, entering transactions, and accessing various reports as needed.
FedLine Web is the exclusive channel for submitting cash orders and deposit notifications:
Designed to be a secure and powerful solution for placing orders for currency, coin and supplies; sending deposit notifications; monitoring and managing cross-shipping activity; managing custodial inventories and coin terminals; and activating self-service control of FedCash Services for your institution.
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