Recycling Distribution The Reserve Bank manages the issuance and distribution of banknotes to commercial banks.
Commercial banks purchase banknotes directly from the Reserve Bank. Those banknotes are transported and stored by the banks at approved cash centres located throughout Australia.
The Reserve Bank also maintains a contingency holding of banknotes to meet seasonal, and other, fluctuations in demand. To prepare for the new banknote series, the Reserve Bank established a program to upgrade its existing banknote infrastructure.
The purpose of the program is to increase banknote storage and processing capacity, and to introduce new technologies and systems to improve banknote logistics processes. Construction of the new two-storey building began in June and all systems are in place for the National Banknote Site to be fully operational with the last phase, which involves undertaking distribution with cash-in-transit companies, anticipated to commence mid year.
The Reserve Bank has established quality standards for banknotes in circulation. Banknotes which are identified by banks, other authorised deposit-taking institutions and cash centre operators when they are no longer fit for circulation are returned to the National Note Processing and Distribution Centre NNPDC.
These banknotes are processed through high-speed automated machines to check for quality and authenticity. Banknotes that are not fit for further circulation are shredded for polymer recycling; authentic fit banknotes are reissued to commercial banks. At the end of Junethere were 1.
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Circulation Statistics, as at end June