1. The Bureau Of Engraving And Printing
In December of 1913 the Federal Reserve Act authorized the production of Federal Reserve notes. ... The BEP produces the currency notes as ordered by the Board of Governors of the Federal Reserve System. Responsibility for the replacement of unfit notes rests with the Federal Reserve Banks. ... The Federal Reserve destroys these notes and replaces them with new bills. ... That same year, the Federal Reserve withdrew from circulation and replaced about 7.5 billion notes. ...
- Word Count: 3228
- Approx Pages: 13
- Grade Level: High School