US quarantines bank notes from Asia

The new procedures “provide for a longer holding period” so that currency coming from China or anywhere in Asia will be held for at least “seven to 10 days before the deposits are processed,” a Fed spokeswoman confirmed on Friday.

The cash handling procedures took effect on Feb 21. In normal circumstances, bills would be held for anywhere from five to 60 days, the spokeswoman said. If the epidemic continues to spread and US health authorities or the State Department “identifies specific additional countries of risk, the Fed is prepared to implement additional modified procedures.”

Have no fear: there is unlikely to be a shortage of cash as the Fed “always has a contingency stock of new currency that can be circulated to the public should the need ever arise.” - AFP

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia-Pacific economies face US$211bil hit from virus, says S&PHONG KONG (AFP): The coronavirus could wipe more than US$200 billion off Asia Pacific economies this year, S&P Global ratings warned Friday (March 6), sending growth to its lowest level in more than a decade, as governments struggle to combat the disease.
Source: staronline - 🏆 4. / 75 Read more »

Asia-Pacific economies face US$211 bil hit from virusRecovery is likely to be delayed until the 3rd quarter if virus is globally contained. FMTNews AsiaPacific Virus Economy COvid19 Coronavirus
Source: fmtoday - 🏆 5. / 72 Read more »

Asia-Pacific economies face US$211 billion blow from Covid-19 | The Malaysian InsightS&P says in worst-case scenario, China may see growth of less than 3%, while Japan, Australia, HK could ‘flirt with recession’. W
Source: msianinsight - 🏆 8. / 63 Read more »

Asia 's Covid-19 losses could top US$300bil warns bank as markets tumbleTOKYO/SHANGHAI/HONG KONG: The Covid-19 (coronavirus) outbreak could result in global economic losses of up to US$347bil, amid sharp declines in domestic demand and tourism, supply disruptions, and health effects, the Asian Development Bank (ADB) warned in a report on Friday (March 6).
Source: staronline - 🏆 4. / 75 Read more »

US quarantines dollars repatriated from Asia on Covid-19 cautionCDC says virus transmission through objects 'may be possible. FMTNews Covid19 Go digital!
Source: fmtoday - 🏆 5. / 72 Read more »

US pumps US$8.3b into coronavirus battle as more states report casesMoney will be spent on detection tests and funding other measures to stem outbreak that has killed 15 Americans.
Source: malaysiakini - 🏆 20. / 51 Read more »