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Federal Reserve Bank of Dallas
2200 N. PEARL ST.
DALLAS, TX 75201-2272


September 8, 2003
Notice 03-49

TO: The Chief Operating Officer of each
financial institution and others concerned
in the Eleventh Federal Reserve District

Issue Date for Series-2004 $20 Note
In May 2003, the U.S. Treasury unveiled a new $20 note design with enhanced
security features and subtle background colors. The new design is part of an ongoing effort to
stay ahead of U.S. currency counterfeiting. The Series-2004 $20 note will be issued on October
9, 2003.
New Currency Rollout
Beginning Thursday, October 9, and continuing through Friday, October 31, 2003, all
Federal Reserve offices will disburse the redesigned notes when filling $20 note orders. Federal
Reserve offices have accumulated an inventory of the new design for this purpose. If the
inventory of Series-2004 $20 notes at any office is exhausted before October 31, 2003, that
office will revert to the Federal Reserve’s regular practice of filling orders with fit notes.
After October 31, all Federal Reserve offices will revert to filling orders with fit notes
or with new notes when fit notes are not available. The Federal Reserve System currently has an
inventory of Series-1996 notes, which will be used to fill $20 note orders until the entire supply
has been issued.

For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal
Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012;
Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810.

-2Previous series of $20 notes are not being recalled or devalued. Neither depository
institutions nor individuals need to exchange their older notes for the new series. Both the new
notes and the older-design notes will continue to be honored at full face value. In anticipation of
strong public interest in the redesigned notes, however, we encourage your institution to order
the new notes to meet your customers’ demands. Toward this end, the Federal Reserve will not
enforce our cross-shipping guidelines for $20 notes from October 9 through October 31, 2003.
To learn more about the new $20 note and to order educational materials in several
languages, please visit the Bureau of Engraving and Printing’s web site at
For questions about the Series-2004 $20 note or other cash matters, please contact our
Cash Services Department at (214) 922-6815, at the Dallas office; (915) 521-8266, at the El
Paso office; (713) 652-1634, at the Houston office; or (210) 978-1316, at the San Antonio office.
Paper copies of this notice or previous Federal Reserve Bank notices can be printed
from our web site at

Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102