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Sixth Federal Reserve District New Orleans Branch

Sixth Federal Reserve District New Orleans Branch. Emergency Preparedness Contingency Planning. Contingency Plan. Critical Functions Paying out currency orders is our highest priority The FedLine application on the web supports various cash related activities

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Sixth Federal Reserve District New Orleans Branch

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  1. Sixth Federal Reserve DistrictNew Orleans Branch Emergency Preparedness Contingency Planning

  2. Contingency Plan • Critical Functions • Paying out currency orders is our highest priority • The FedLine application on the web supports various cash related activities • If both FedLine services are disrupted, customers can place orders using fax or telephone

  3. Contingency Plan • Communications • Our primary method of mass communications with the banking industry during an event is the www.frbservices.org website • FRENSi (Federal Reserve Emergency Notification Services/Internet system) • We have extensive contact lists that include employees, customers, carriers, other Fed offices, and other government agencies

  4. Contingency Plan • Performing Critical Cash Functions • The Federal Reserve has a three-layered approach for providing currency to customers during an event: • Onsite Inventory – Each FRB office maintains onsite about 1 month of payable inventory • Offsite Inventory – Currency is available at Strategic Inventory Locations (SILs) (2 to 3 days payable / est. $30 to $40 million) • Buddy Bank Inventory – Another Fed office’s inventory can be used in support of a Fed Office that cannot access its own via “Stem Runs”

  5. Contingency Plan • What the Fed asks of DIs During a Disruption • Check www.frbservices.org or FedLine for updated information • Attempt to minimize the points of contact within your organization who are calling the Fed office • Notify the Fed and your armored carrier of alternate site and revised hours of operation

  6. Contingency Plan • What the Fed asks of DIs During a Disruption • Place only critical orders ($20’s-1 bale / $320,000) • Retain your excess currency (fit and unfit) • Exchange currency among your branches • Contact other depository institutions for cash services • Use your branches/cash vaults in other Federal Reserve zones to order and receive on your behalf • During any disruption, cross-shipping monitoring will be waived

  7. Contingency Plan • Please Note: * Increase in Counterfeit Volume * Importance of Staff Cross Training * FRB Cash Communications

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