Title 12Banks and BankingRelease 119-73

§121a Redemption of notes unidentifiable as to bank of issue

Title 12 › Chapter CHAPTER 2— - NATIONAL BANKS › Subchapter SUBCHAPTER VI— - REDEMPTION AND REPLACEMENT OF CIRCULATING NOTES › § 121a

Last updated Apr 6, 2026|Official source

Summary

The Treasurer can redeem Federal Reserve bank notes or Federal Reserve notes when the issuing bank can't be identified, under rules the Secretary sets.

Full Legal Text

Title 12, §121a

Banks and Banking — Source: USLM XML via OLRC

Whenever any Federal Reserve bank notes or Federal Reserve notes are presented to the Treasurer of the United States for redemption and such notes cannot be identified as to the bank of issue or the bank through which issued, the Treasurer of the United States may redeem such notes under such rules and regulations as the Secretary of the Treasury may prescribe.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1994—Pub. L. 103–325, § 602(g)(8)(A)(ii), which directed the amendment of this section by striking out “, and the notes, other than Federal Reserves notes, so redeemed shall be forwarded to the Comptroller of the Currency for cancellation and destruction” after “Treasury may prescribe”, was executed by striking out text which contained the word “Reserves” rather than “Reserve”, to reflect the probable intent of Congress. Pub. L. 103–325, § 602(g)(8)(A)(i), substituted “Whenever any Federal Reserve bank notes,” for “Whenever any national-bank notes, Federal Reserve bank notes,”. 1966—Pub. L. 89–427 excepted Federal Reserve notes from the category of notes which, upon redemption by the Treasurer of the United States, must be forwarded to the Comptroller of the Currency for cancellation and destruction.

Executive Documents

Transfer of Functions

For

Transfer of Functions

to Secretary of the Treasury, see note set out under section 55 of this title.

Reference

Citations & Metadata

Citation

12 U.S.C. § 121a

Title 12Banks and Banking

Last Updated

Apr 6, 2026

Release point: 119-73