WASHINGTON, DC - On March 13, Federal Reserve banks will begin distributing redesigned $5 bills to customer banks, which will then distribute currency to businesses and consumers. The new bills will first begin circulating in the U.S. and gradually in other countries as international banks place orders for $5 bills from the Federal Reserve. Older-design $5 bills will maintain their full face value. Therefore, it will not be necessary to trade in old $5 bills for new ones.