Updated Cash Services Manual of Procedures (CSMOP) effective today, March 1

March 1, 2019

The updated Cash Services Manual of Procedures (CSMOP) (PDF) is effective today, March 1, 2019. In addition to the operational change announced in June 2018 that eliminated the deposit facing requirement for $50 and $100 denominations, the updated CSMOP includes refinements to Federal Reserve requirements for preparing currency deposits.

Your continued use of the Federal Reserve Banks’ cash services on or after the effective date of March 1, 2019, will constitute agreement to the terms in both Operating Circular 2 (OC2) – Cash Services (PDF) and the CSMOP.

Resources

The CSMOP supplements OC2 and defines operational procedures for FedCash^® Services. There are no changes to the current version of OC2, dated January 4, 2016. OC2 and the CSMOP are available on the Operating Circulars page on FRBservices.org^SM under the section for OC2 – Cash Services. In addition, a summary of changes (PDF) to the CSMOP and revised Deposit Visual Reference Guide are also available.

If you contract with an outsourced cash vault provider to prepare your currency deposits, it is your responsibility to ensure their compliance with the updated CSMOP.

Check out the Deposit Visual Reference Guide

To illustrate the revised depositing procedures defined in the CSMOP section 4.2 for Preparing a Currency Deposit, please review the updated Deposit Visual Reference Guide (DVRG) on FRBservices.org.

The section on Preparing Bundles has been expanded with clarification on required practices and examples of incorrect bundling, as shown below.

Contact

For questions related to these changes, contact your Federal Reserve Bank Cash Services department.

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