Scope of regulations; transactions effected through Federal Reserve banks and
branches; distribution of coin and currencies.
The regulations in this part govern the exchange of the coin and paper currency of
the United States (including national bank notes and Federal Reserve bank notes in
process of retirement and Federal Reserve notes). Under authorization in the Act
approved May 29, 1920, 41 Stat. 655 (31 U.S.C. 476 ), the Secretary of the Treasury
transferred to the Federal Reserve banks and branches the duties and functions
performed by the former Assistant Treasurers of the United States in connection with
the exchange of paper currency and coin of the United States. Except for the duties in
this respect to be performed by the Treasurer of the United States and the Director of
the Mint, as may be indicated from time to time by the Secretary of the Treasury,
exchanges of the paper currency and coin of the United States and the distribution and
replacement thereof will, so far as practicable, be effected through the Federal
Reserve banks and branches. The Federal Reserve banks and branches are authorized to
distribute available supplies of coin and currency to depository institutions, as that
term is defined in section 103 of the Monetary Control Act of 1980 (Pub. L. 96-221).
As authorized by section 107 of the Act, transportation of coin and currency and coin
wrapping services will be provided according to a schedule of fees
established by the Board of Governors of the Federal Reserve System. Inquiries by
depository institutions regarding distribution and related services should be
addressed to the Federal Reserve bank of the district where the institution is
Title 31 published on 2012-07-01
no entries appear in the Federal Register after this date.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.