To reduce the amount of cash trucked through the desert for Arizona's money supply, the Federal Reserve plans to build in Phoenix its first stand-alone cash processing center.

The Fed culls worn and counterfeit currency from circulation and replaces it through its 12 district banks and their 25 branches. Cash for the Phoenix area is processed at the Los Angeles branch of the Federal Reserve Bank of San Francisco.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.