new designs and security features beginning with the $20 note on October 9, 2003.

The redesigned currency is safer, smarter and more secure: Safer because it is harder to fake and easier to check; Smarter to stay ahead of tech-savvy counterfeiters; and More Secure to protect the integrity of U.S. currency.

The most noticeable difference in the new design is the subtle introduction of background color, which makes it more burdensome for potential counterfeiters because it adds complexity to the note. The color will also make it easier to distinguish between denominations because different background colors will be used for each denomination.

However, despite the addition of color, the new note preserves the distinct size, look and feel of the traditional American "greenback" - the world’s most familiar and circulated currency.

The Federal Reserve System and the Department of the Treasury are committed to continuous improvements in currency design in order to protect the economy and U.S. currency. To ensure this, they expect to introduce new currency designs every 7-10 years.

The issuance of the new $20 note will be followed by a new $50 note in 2004 and a new $100 note in 2005. Decisions on new designs for the $5 and $10 notes are still under consideration, but a redesign of the $2 and $1 notes is not planned.