BEP’s Long Term Transformation – New Investment, But New Facility on Hold

In one of the keynote speeches at the Banknote Conference in Washington DC, which has recently concluded, the US Bureau of Engraving and Printing (BEP) presented its long-term transformation and modernisation strategy. This is in the context of a new series of banknotes, the first of which will be issued later the year, the postponement of a proposed new production site to replace that in the centre of the capital, and investments that have already seen a 33% reduction in some production costs.

Yolanda Ward, Deputy Director of the BEP, confirmed that the next generation of banknotes – the ‘Catalyst’ series – will retain core traditional characteristics of cotton-linen substrate, intaglio printing, watermarks, microprinting, offset and letterpress printing, along with a uniform size across all denominations.

However, the new family will introduce new features that have been developed through more than a decade of research and, testing, and – for the first time (and in line with a legal requirement for the US Treasury to make currency accessible to the blind and visually-impaired) – will include raised tactile features designed to support this access.