Banks Overstock ATMs In Case Panicked Customers Make Mass Withdrawals
Whether the US government shutdown is a catastrophe or that the media is playing it up, US banks are getting ready for the possibility that people will panic. According to the Financial Times, “two of the country’s 10 biggest banks said they were putting into place a ‘playbook’ used in August 2011 when the government last came close to breaching the debt ceiling.One senior executive said his bank was delivering 20 - 30 percent more cash than usual in case panicked customers tried to withdraw funds en masse. Banks are also holding daily emergency . . .
This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email firstname.lastname@example.org and we will get back to you as quick as humanly possible