Banks Overstock ATMs In Case Panicked Customers Make Mass Withdrawals – ValueWalk Premium

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 . . .

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