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Federal R eserve Bank OF DALLAS DALLAS, TEXAS 7 5 2 2 2 August 25, 1992 Notice 92-77 TO: The Chief Executive Officer at each depository financial institution in the Eleventh Federal Reserve District SUBJECT Rollover of Pre-1990 $50 and $100 Notes DETAILS The Federal Reserve Bank of Dallas is requesting the assistance of financial institutions in increasing the circulation of currency containing security features against counterfeiting. Financial institutions are asked, in the normal course of depositing currency with and ordering currency from the Federal Reserve Bank of Dallas, to help expedite the exchange of older notes in $100 and $50 denominations for series 1990 notes with the security features. In August 1991, Federal Reserve Banks began issuing new series 1990 currency to depository institutions. This currency has two new features designed to counteract the increasing threat of counterfeiting from the use of color copiers. The first feature is a clear polyester thread arranged verti cally directly to the left of the portrait in Federal Reserve notes. This thread contains the words "USA", followed by the denomination of the note. The security thread can be seen with the human eye when the note is held to a light source but cannot be reproduced by the reflected light of copying machines. A second feature is microprinting around the portrait, repeating the words "United States of America". Magnification is required to read this microprinting and it is not legibly reproduced by copying machines. The new series 1990 notes were first issued in $100 denominations in August 1991, followed by $50 notes in March 1992. New series $10 and $20 notes containing the two new security features will be issued in late 1992 and early 1993. The new series $5 notes will be issued later in 1993. Because of the potential for an increase in counterfeiting, we are interested in increasing the number of series 1990 notes in circulation as rapidly as possible. Therefore, we are not reissuing older series $100 and $50 notes as they are returned to Federal Reserve Banks. You can assist us in this effort and better serve your customers by returning these older series $100 and $50 notes to us for replacement with series 1990 notes that contain the new security features. It is emphasized 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. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) - 2 - that there is no intention to recall, demonetize, or devalue any U.S. currency in circulation. However, your cust o m e r s ’ protection against counterfeiting losses is improved by this exchange. As routine cash orders are placed, please order replacement notes of these denominations to be delivered on your regularly scheduled delivery date. Current inventory of the $100 and $50 notes should be forwarded to the Federal Reserve in your routine cash depos its. Cross-shipping rules for $100 and $50 denominations are also being waived to accelerate this replacement. MORE INFORMATION If you have any questions, please contact Mary Louise Rosas, (214) 922-6801, at the Dallas Office; Javier Jimenez, (915) 521-8202, at the El Paso Office; Luke Richards, (713) 652-1544, at the Houston Office; or Richard Gutierrez, (512) 978-1401, at the San Antonio Office. For additional copies of this B a n k ’s notice, please contact the Public Affairs Department at (214) 922-5254. Sincerely,