bank note

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Bank note

A term used synonymously with paper money or currency issued by a bank. Notes are, in effect, a promise to pay the bearer on demand the amount stated on the face of the note. Today, only the Federal Reserve Banks are authorized to issue bank notes, i.e. Federal Reserve notes, in the United States.

Bank Note

A note issued by a bank and accepted as money. In a fiat money system (that is, in all modern monetary systems), a bank note is the same as cash. In general, bank notes are issued by the central bank (or by a bank authorized by the central bank to print money) and are legal tender. It is also called paper money.

bank note

Currency issued and guaranteed by a bank. The sole issuer of bank notes in the United States is the Federal Reserve Bank.

bank note

the paper CURRENCY issued by a CENTRAL BANK which forms part of a country's MONEY SUPPLY. Bank notes in the main constitute the ‘high value’ part of the money supply. See MINT, LEGAL TENDER, FIDUCIARY ISSUE, BANK OF ENGLAND.
References in periodicals archive ?
Existing $50 banknotes can continue to be used, as all previously issued banknotes remain legal tender.
Banknote equipment manufacturers and other suppliers will continue to receive support from the Eurosystem in adapting their machines and authentication devices to the new banknotes.
First of all, banks will have to register the numbers of these banknotes via the portal for cash management, and then send them to the CBA through collectors," the source noted.
43 percent of the total value of Slovak banknotes remained in circulation, though.
The bank said the banknote was printed with Mickey Mouse playing with a dog on the one side and the portrait of Queen Elizabeth II on the other side.
These NGC banknotes shall be issued to authorized agent banks for withdrawal of the general public,' the BSP said in a statement.
And indeed, when selecting the principal security features to be applied onto their new banknotes, the Bank of England embarked on a three year research programme with the aim of determining the effectiveness and counterfeiting resilience of many security features available in the market.
The commemorative banknotes will cost more than 2,000 won, just as other commemorative currencies have cost more than their face value.
There is an annual plan for the issuance of banknotes in accordance with the vision of the CBE and the government, in which it avoids the over-issuance of cash because it will lead to inflation and price hikes, while the decline of banknote issuance can affect the economic activity and reduce growth rates.
It is, therefore, clarified for benefit of all concerned that new design banknotes of Rs 500, with and without OVI flag, are genuine provided all other security features are intact.
State Bank of Pakistan issued a new design banknote series which started with the issuance of Rs 20 denomination banknote in 2005 to improve the security, durability and aesthetic quality of banknotes.
BCT had then had to change an amount of over 700 million of banknotes in two times between 2011 and 2013.