A Peek Inside A Federal Reserve Bank Branch

Today, the branch has two primary functions: cash and checks. When a bank needs cash, whether it’s Mountain West here in Helena or Rocky Mountain Bank in Plentywood, the currency comes from the local Fed. Branch manager Sam Gane won’t say how much cash the bank has on hand today due to security concerns, but it’s probably safe to say it’s more than the $113,420 in gold bullion and coins, $190,300 in gold certificates and $114,736 that filled the vault in 1921. (Back then, banks were still required to exchange paper money for gold or silver at the holder’s request.)

On the cash side of the operation, “we’re acting as a fiscal agent for the U.S. Treasury,” Gane said. “It starts by accepting deposits from Montana banks that have more currency in their vaults than they want.”