Visitors Now:
Total Visits:
Total Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

US Banks Stuffing ATMs With 20-30% More Cash In Case Of Panicked Withdrawals

Thursday, October 3, 2013 21:04
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Zero Hedge

Submitted by Tyler Durden on 10/03/2013

Even as the fearmongering over the debt ceiling hits proportions not seen since 2011 (when it was the precipitous drop in the market that catalyzed a resolution in the final minutes, and when four consecutive 400 point up and down DJIA days cemented the deal – a scenario that may be repeated again), some banks are taking things more seriously, and being well-aware that when it comes to banks, any initial panic merely perpetuates more panic, have taken some radical steps. The FT reports that “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 per cent more cash than usual in case panicked customers tried to withdraw funds en masse.Banks are also holding daily emergency meetings to discuss other steps, including possible free overdrafts for customers reliant on social security payments from the government.”

Read More Here

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Total 4 comments
  • Seems like a good thing to just be more aware than usual. Anything can happen and be blamed on the gridlock Congress. But all of them are guilty for taking this country to the Brink.

  • time to get rid of the Obama Bucks & buy up silver… ammo… corn flakes… toilet paper… anything of value to barter with…

  • New 100 come out soon also.

  • Homeowner Of Record

    WARNING: Chase Bank is offering $50 if you deposit $2,000 or more. The big banks want your accounts full before The Bail-In when they take your money to line their pockets before shtf.

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.