Central Banking

Approval of policy changes to Fed cash services

The Federal Reserve Board on Friday 17 March announced the approval of policy changes that seek to reduce the overuse of Federal Reserve Bank cash-processing services by providing incentives for depository institutions to recirculate currency among their customers.

The Reserve Banks estimate that the changes to the cash services policy could affect approximately 150 to 225 depository institutions with high-volume currency operations.

The changes are intended to reverse a shift by depository ins

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