Back السجل الاحتياطي الفيدرالي Arabic Federacia Rezerva Bileto Esperanto Billetes de dólar estadounidense Spanish اسکناس فدرال رزرو Persian Billets de banque en dollars américains French Billetes da Reserva Federal dos Estados Unidos Galician Federal Reserve Note ID Banconote del dollaro statunitense Italian Federal Reserve Note NB 聯邦儲備券 Chinese

Federal Reserve Note

Not to be confused with Federal Reserve Bank Note.

A one-dollar bill, the most common Federal Reserve Note

Federal Reserve Notes are the currently issued banknotes of the United States dollar.[1] The United States Bureau of Engraving and Printing produces the notes under the authority of the Federal Reserve Act of 1913[2] and issues them to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System.[2] The Reserve Banks then circulate the notes to their member banks,[3] at which point they become liabilities of the Reserve Banks[4] and obligations of the United States.[2]

Federal Reserve Notes are legal tender, with the words "this note is legal tender for all debts, public and private" printed on each note.[5] The notes are backed by financial assets that the Federal Reserve Banks pledge as collateral, which are mainly Treasury securities and mortgage agency securities[6] that they purchase on the open market by fiat payment.

  1. ^ O'Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action. Upper Saddle River, N.J.: Pearson Prentice Hall. p. 255. ISBN 0-13-063085-3.
  2. ^ a b c 12 U.S.C. § 411
  3. ^ Bryan A. Garner, editor, Black's Law Dictionary 8th ed. (West Group, 2004) ISBN 0-314-15199-0.
  4. ^ 12 U.S.C. § 415 Section 415 describes circulating Federal Reserve Notes as liabilities of the issuing Federal Reserve Bank.
  5. ^ 31 U.S.C. § 5103
  6. ^ See weekly H.4.1 reports, "Collateral Held against Federal Reserve Notes"

Developed by StudentB