The Gold Book

U.S. Government to Unveil New $100 Note Design on April 21

WASHINGTON, D.C. – The new design for the $100 note will make its debut on Wednesday, April 21 during a ceremony at the Department of the Treasury’s Cash Room. The U.S. government redesigns currency in order to stay ahead of counterfeiters and protect the public. Decisions about the redesign of each denomination are guided by the government’s close evaluation of the range of ongoing counterfeit threats, whether from digital technology or traditional printing presses.

The ceremony in Washington, D.C., will be held at 10:00 a.m. U.S. EDT and will feature:

• Secretary of the Treasury Timothy Geithner
• Chairman of the Board of Governors of the Federal Reserve System Ben Bernanke
• Treasurer of the United States Rosie Rios
• Director of the United States Secret Service Mark Sullivan

When the new note begins circulating, it will be important for people to know that it is not necessary to trade in old-design notes for new ones. All U.S. currency remains legal tender, regardless of when it was issued.

The Federal Reserve has launched a website to help new bank directors learn how they can work to ensure the safety and soundness of their institutions. The website, BankDirectorsDesktop.org, also provides a refresher course for experienced board members.

BankDirectorsDesktop.org is tailored to directors of community banks and features online training and other resources to help directors better understand the issues and challenges associated with serving on a bank’s board.

The website includes links to the “Training for Bank Directors” interactive course and the latest edition of Basics for Bank Directors, a comprehensive guide to directors’ roles and responsibilities.

The Federal Reserve on Monday announced the availability of Electronic Applications, or “E-Apps,” a new Internet-based system for financial institutions to submit regulatory filings. E-Apps allows firms and their representatives to file applications online, eliminating the time and expense of printing, copying, and mailing the documents. Registered users can access the system at any time to upload additional documents or create new filings. There are no fees for using E-Apps.

E-Apps has been designed to ensure the confidentiality of the data and the identity of individual filers. Institutions ready to start using E-Apps can find sign up forms at http://www.federalreserve.gov/bankinforeg/eappssignup.htm.

The Federal Reserve Banks have announced plans to conduct another series of studies to determine the current volume and composition of check and electronic payments in the United States. These studies will build on information gained from similar studies conducted by the Reserve Banks in 2001, 2004 and 2007.

The 2010 Federal Reserve Payments Study consists of three research efforts commissioned to estimate the annual number, dollar value and composition of retail noncash payments in the United States. Together, the studies will provide aggregate estimates and current trends in the use of noncash payment instruments by U.S. consumers and businesses.

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