The Federal Reserve System’s Cash Product Office (CPO) is responsible for strategic leadership to Reserve Bank cash departments by formulating policies, operational guidance, and technology strategies for U.S. currency and coin services provided nationally and internationally. The CPO’s primary mission and responsibility is to maintain public confidence in U.S. currency.
To accomplish its mission, the CPO provides standard software and automation tools for all cash processing and vault automation systems nationwide, and it guides capacity planning to help ensure that cash operations in each Reserve Bank meet strict controls for the quality and integrity of U.S. currency and coin.
In addition to guiding policies and procedures, the CPO establishes budget guidance and financial reporting for Cash Services, provides support for Federal Reserve currency and coin inventory management, and supports Cash Services business continuity planning. It also conducts market research and works directly with financial institutions and retailers to analyze trends in cash usage.
As you can see, the CPO has many responsibilities, and the following features highlight two key functions: maintaining confidence in U.S. Currency and meeting demand for currency during a disaster.