Federal Reserve Banks: Inaccurate Reporting of Currency at the Los Angeles Branch

摘要

This letter responds to your request that we review reports on currencyactivities prepared for the Federal Reserve Board of Governers by the Los Angeles Federal Reserve Bank, a branch bank of the San Francisco District Bank. You asked us to: (1) determine the nature of problems that may have occurred in reporting currency activity for Federal Reserve note receipts, payments, and amount on hand; and (2) review and comment on corrective actions planned or taken by the Federal Reserve to resolve those problems. We focused on the reports for the months of October through December 1995 because those had been identified by your staff and the Federal Reserve as months in which the reports were prepared incorrectly.