- The Salt Lake branch of the Federal Reserve Bank of San Francisco processes 25 million notes daily.
- Counterfeit detection and cash shredding are key operations at the facility.
- Vice President and Regional Executive Abby McLennan emphasizes cash’s role despite digital trends.
SALT LAKE CITY — The Federal Reserve manages monetary policy, influences interest rates and keeps cash flowing to and from commercial banks and ultimately to the public.
Rarely do people get a look at the inner workings of how the money moves, but on Tuesday, KSL got a tour inside the highly secure Salt Lake branch of the Federal Reserve Bank of San Francisco, where workers in the branch’s cash processing facility were busy inspecting, sorting, storing and distributing large amounts of bills.
“We make sure that there’s an adequate supply of currency to meet the needs of the public here,” Vice President and Regional Executive Abby McLennan said. “Commercial banks — they’re able to deposit and order currency with us.”…