Notice - Suspension of Sale of Circulation Currency (2023-07-13)

Summary

This notice from the Bermuda Monetary Authority announces that, effective from the date of the notice (13 July 2023), the sale of circulation currency to the public has been suspended. It clarifies what is and is not covered by the suspension and how the Authority will continue to distribute currency.

• Suspended: Sale of circulation currency to the public is suspended, including circulation banknotes and circulation coins.
• Exception: Circulation blister packs are not affected and will continue to be available for sale to the public.
• Ongoing distribution: The Authority will continue to issue circulation notes and coins, but only to Bermuda banks.
• Footnote clarification: The ability to receive currency from the Authority does not extend to digital platforms.

The notice is informational and describes an operational change in currency distribution rather than imposing new compliance filing requirements on regulated entities.

Applies to

Bermuda banks, general public