by
Catalyst Corporate | Sep 23, 2022
Although the holiday season is still months away, consumers are getting a head start. More than one in 10 started their shopping before the beginning of September, and half of holiday shoppers plan to start before Halloween, Bankrate found.
The Federal Reserve is permanently discontinuing holiday currency special ordering periods, effective 2022. The Federal Reserve Banks suspended holiday currency special ordering periods in 2020 and 2021 due to reduced cash supply during the COVID-19 pandemic but have now decided to eliminate them altogether.
While the holiday special ordering periods are being discontinued, the Reserve Banks are continuing to pay out new currency to depository institutions in all denominations periodically throughout the year.
If your institution needs new currency for the holiday season, we recommend setting aside new notes as you receive them.
If you have additional questions regarding Catalyst Corporate’s Coin & Currency Services, please contact Member Services.