Banks send aged, worn, torn, or soiled notes to a Federal Reserve Bank to be exchanged for new bills. The Reserve Banks sort the money they get from commercial banks to determine if it is “fit” or “unfit.” If the bank deems the money “fit” (reusable) it is stored in their vaults until it is sent out again through the commercial banking system. Reserve Banks destroy unfit currency and return damaged and worn coins to the Treasury.
Click here to cancel reply.
Sorry,At this time user registration is disabled. We will open registration soon!
Don't have an account? Click Here to Signup
© Copyright GreenAnswers.com LLC