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Bank Note

Definition: Noninterest-bearing promissory note of a Federal Reserve Bank issued to serve as money and payable to the bearer on demand. Definition: [crh] 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 amouDefinition: nt 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.

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