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diff --git a/src/exchangedb/exchange_do_expire_purse.sql b/src/exchangedb/exchange_do_expire_purse.sql
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+++ b/src/exchangedb/exchange_do_expire_purse.sql
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+--
+-- This file is part of TALER
+-- Copyright (C) 2014--2022 Taler Systems SA
+--
+-- TALER is free software; you can redistribute it and/or modify it under the
+-- terms of the GNU General Public License as published by the Free Software
+-- Foundation; either version 3, or (at your option) any later version.
+--
+-- TALER is distributed in the hope that it will be useful, but WITHOUT ANY
+-- WARRANTY; without even the implied warranty of MERCHANTABILITY or FITNESS FOR
+-- A PARTICULAR PURPOSE.  See the GNU General Public License for more details.
+--
+-- You should have received a copy of the GNU General Public License along with
+-- TALER; see the file COPYING.  If not, see <http://www.gnu.org/licenses/>
+--
+
+CREATE OR REPLACE FUNCTION exchange_do_expire_purse(
+  IN in_start_time INT8,
+  IN in_end_time INT8,
+  IN in_now INT8,
+  OUT out_found BOOLEAN)
+LANGUAGE plpgsql
+AS $$
+DECLARE
+  my_purse_pub BYTEA;
+DECLARE
+  my_deposit record;
+DECLARE
+  my_in_reserve_quota BOOLEAN;
+BEGIN
+
+-- FIXME: we should probably do this in a loop
+-- and expire all at once, instead of one per query
+SELECT purse_pub
+      ,in_reserve_quota
+  INTO my_purse_pub
+      ,my_in_reserve_quota
+  FROM purse_requests
+ WHERE (purse_expiration >= in_start_time) AND
+       (purse_expiration < in_end_time) AND
+       NOT was_decided
+  ORDER BY purse_expiration ASC
+ LIMIT 1;
+out_found = FOUND;
+IF NOT FOUND
+THEN
+  RETURN;
+END IF;
+
+INSERT INTO purse_decision
+  (purse_pub
+  ,action_timestamp
+  ,refunded)
+VALUES
+  (my_purse_pub
+  ,in_now
+  ,TRUE);
+
+-- Code for 'TALER_DBEVENT_EXCHANGE_PURSE_REFUNDED'
+NOTIFY X8DJSPNYJMNZDAP7GN6YQ4EZVSQXMF3HRP4VAR347WP9SZYP1C200;
+
+IF (my_in_reserve_quota)
+THEN
+  UPDATE reserves
+    SET purses_active=purses_active-1
+  WHERE reserve_pub IN
+    (SELECT reserve_pub
+       FROM exchange.purse_merges
+      WHERE purse_pub=my_purse_pub
+     LIMIT 1);
+END IF;
+
+-- restore balance to each coin deposited into the purse
+FOR my_deposit IN
+  SELECT coin_pub
+        ,amount_with_fee
+    FROM purse_deposits
+  WHERE purse_pub = my_purse_pub
+LOOP
+  UPDATE known_coins kc SET
+    remaining.frac=(kc.remaining).frac+(my_deposit.amount_with_fee).frac
+     - CASE
+       WHEN (kc.remaining).frac+(my_deposit.amount_with_fee).frac >= 100000000
+       THEN 100000000
+       ELSE 0
+       END,
+    remaining.val=(kc.remaining).val+(my_deposit.amount_with_fee).val
+     + CASE
+       WHEN (kc.remaining).frac+(my_deposit.amount_with_fee).frac >= 100000000
+       THEN 1
+       ELSE 0
+       END
+    WHERE coin_pub = my_deposit.coin_pub;
+  END LOOP;
+END $$;
+
+COMMENT ON FUNCTION exchange_do_expire_purse(INT8,INT8,INT8)
+  IS 'Finds an expired purse in the given time range and refunds the coins (if any).';