Tennessee figures out how to have a Banking Holiday without creating Panic

Everyone thank Questioningall for pointing this out to me.

TO: All Tennessee State Chartered Banks
SUBJECT: Closing of Bank Offices - TCA §45-2-603 and §45-2-604
DATE: August 5, 2009

This bulletin is intended to address specifically the issue of suspending bank office activity in response to possible H1N1 (swine flu) outbreaks and more generally to emergency powers of banks in response to disasters. Additionally, this bulletin provides certain guidance should a Tennessee state bank close certain offices under the authority of TCA §45-2-603 and §45-2-604 in the discretion of its directorate and management.

Banks organized under the laws of the State of Tennessee may, at their discretion, temporarily close offices or operations in areas affected by an emergency resulting from fire, act of God, attack by a foreign nation, riot, insurrection, civil disorder or any similar disaster without prior approval of the commissioner in accordance with TCA §45-2-603 and §45-2-604.

The Department of Financial Institutions considers bank determinations that H1N1 outbreaks pose legitimate health risks to the general public or significantly impacts the ability of a banking institution to maintain an appropriate level of personnel on site to meet customer needs to be included among any “similar disaster” as referenced in TCA §45-2-603. Other events may also be included among any similar disaster, and the directorate and executive management are encouraged to use reasonable discretion in applying TCA §45-2-603 and §45-2-604. However, the safety of institution personnel and local citizens are of paramount importance when evaluating the appropriateness of closing offices.

We encourage institutions to carefully monitor and consider any guidance issued by state and federal government authorities regarding such events. While TCA §45-2-603 and §45-2-604 do not require the Department’s prior approval for office closings in certain events, we do encourage institutions to notify both the Department as well as their primary federal regulator in as timely a manner as reasonably possible in the event of such a closing. Additionally, institutions should make a reasonable effort, in consideration of the public safety, to notify and accommodate customers.

This bulletin shall serve as notice that no specific prior approval from the Department is required for Tennessee state-chartered banks to be closed more than two consecutive business days should a Tennessee state-chartered bank, in its discretion, determine it is necessary to temporarily close the bank or an office of the bank in accordance with TCA §45-2-603 and §45-2-604, pursuant to an H1N1 outbreak or similar disaster.

Banks should be advised; however, that if the Federal Reserve is open that the Federal Reserve may continue to present cash items to banks even if a particular bank has exercised its discretion to close the bank or one of its offices in accordance with TCA §45-2-603 and §45-2-604. Please contact your respective Federal Reserve branch for further guidance.

Questions regarding this Bulletin should be addressed to Tod K. Trulove, Assistant Commissioner – Bank Division, at 615/741-6013 or Tina G. Miller, General Counsel, at 615/532-1030.

Greg Gonzales
Commissioner

See Posting Here

Pretty interesting isnt it?
I am not sure whether to believe this is a farse to cover up real banking trouble in the state or pure concern for H1N1.

One thing is sure, if other states follow suit something is up.

[edit on 8/20/2009 by Tentickles]

Friggin' genius. Expected, but genius on their parts.

I swear to God they have their butts covered in every aspect of the game; and if they don't have a plan, they'll just create it out of thin air and the majority accepts it.

Using a non-existing threat of illness to cover your butts from the public seeing the collapse of a fatally flawed financial system. Genius.

Starred and flagged, great post as per usual!

lol yeah very well played but then what kind of monies do they expect to use after reopening? Or will we go to a credit based currency so that transactions do not require paper monies?

OK, wow. I am going to drift into the deep end for a second and postulate that maybe this is the whole purpose behind the hysteria about H1N1. Redirect people's interest from something like an economic restructuring. You know the stories about how supposedly trillions of dollars worth of currency and precious metals went missing in the middle of the 911 hysteria? Maybe this is a play similar to that one, just more drawn out because they have more to accomplish.

Then again, it may just be time for my medication (coffee! )

Every day it gets harder and harder to say I'm from Tennessee. Plenty of relatives there I miss but plenty of stupidity as well. This is not good.Got an e-mail from a friend saying the swine flu is spreading pretty close to my home town that worries me slightly. How can people fall for this it's a disease not the end of capitalism. Then again if Health Reform fails it's nice to have a plan B.

[edit on 10-04-08 by Beach Bum]

[edit on 10-04-08 by Beach Bum]

The powers that be do seem to have it all figured out. But the very thing that got them where they are today--mega rich and powerfull, will also be their downfall. That's arrogance and greed. They can't help themselves, and will turn on each other.
Unfortunately for us, certain things must pass, and we as part of the masses must endure what is coming, and it won't be good. get ready for the show of a lifetime. it's coming soon to a bank near you. You already have a reserved seat, and your bank account, soon to be theirs, is your admission. And there's nothing we can do about it. Put that in your "change we can believe in pipe" and smoke it.

Want to stress this out :

Banks organized under the laws of the State of Tennessee may, at their discretion, temporarily close offices or operations in areas affected by an emergency resulting from fire, act of God, attack by a foreign nation, riot, insurrection, civil disorder or any similar disaster without prior approval of the commissioner in accordance with TCA §45-2-603 and §45-2-604.

Everything is in the text. See the horned one behind ?

[edit on 20-8-2009 by Fedge]

I don't understand why this whole banking thing is such a big deal. You think when the SHTF money will be worth a damn? I think not...

This makes me wonder if all the states have this too and we are unaware of it. This is how they can shut down thw banks iby regions one at a time like I read on another link. Everyone debunked the thread by saying that no one would allow banks to be closed down per region and the people in other regions would catch on and draw out there funds. Brilliant find this expalins how it can be done. If the flu starts in the east they can shut the banks down and no one will be the wiser then the flu spreads to the central US then the west, Wow now everything makes since. Thanks for tieing up some loose ends for me!

Originally posted by Beach Bum
Every day it gets harder and harder to say I'm from Tennessee. Plenty of relatives there I miss but plenty of stupidity as well. This is not good.Got an e-mail from a friend saying the swine flu is spreading pretty close to my home town that worries me slightly. How can people fall for this it's a disease not the end of capitalism. Then again if Health Reform fails it's nice to have a plan B.

[edit on 10-04-08 by Beach Bum]

[edit on 10-04-08 by Beach Bum]

What i don't understand is why everyone gets so mad when the government tries to prepare for an emergency.

The moment an emergency happens and the government is NOT prepared for it ATS goes nuts.

Besides either you want the government to be prepared or not. you pick

[edit on 20-8-2009 by Alien Mind]

So much hysteria over such a innocent bug? .. Only a few hundred people have been killed .. MOST in MEXICO .. where health care is crap anyways.



People need to wake up and call the BS that's coming down the road towards us before it's to late. The Government is getting everything in order for "the big one" .. even when "the big one" has been among us for several months and no deadly pandemic has occurred.

...I think I'm going to buy another gun tomorrow..

Originally posted by Alien Mind

Originally posted by Beach Bum
Every day it gets harder and harder to say I'm from Tennessee. Plenty of relatives there I miss but plenty of stupidity as well. This is not good.Got an e-mail from a friend saying the swine flu is spreading pretty close to my home town that worries me slightly. How can people fall for this it's a disease not the end of capitalism. Then again if Health Reform fails it's nice to have a plan B.

[edit on 10-04-08 by Beach Bum]

[edit on 10-04-08 by Beach Bum]

What i don't understand is why everyone gets so mad when the government tries to prepare for an emergency.

The moment an emergency happens and the government is NOT prepared for it ATS goes nuts.

Besides either you want the government to be prepared or not. you pick

[edit on 20-8-2009 by Alien Mind]

If you're talking about katrina, the gov't didn't help because they would rather the blacks and poor people left behind die like animals. It wasn't an accident. The agencies like fema had people that wanted to help prevented from doing anything.

reply to post by CapsFan8


Thats the most common excuse i hear from people.

And why does it have to be about race?

and what i said still stands.

Either you want the government to be prepared or not. Pick one.

Besides the only ones making a big deal out of the H1N1 is the people on ATS and the media that are going nuts about it. All it seems to me that the government is doing is being prepared in case it does get ot of hand.

Originally posted by matth
Friggin' genius. Expected, but genius on their parts.

I swear to God they have their butts covered in every aspect of the game; and if they don't have a plan, they'll just create it out of thin air and the majority accepts it.

Using a non-existing threat of illness to cover your butts from the public seeing the collapse of a fatally flawed financial system. Genius.

Starred and flagged, great post as per usual!

Thats because we are trying to figure this out on the fly and they have had this planned already for years so it's in their advantage...

Originally posted by Rockpuck
...I think I'm going to buy another gun tomorrow..

Wish I had the money I would purchase another firearm in a heartbeat.
Maybe a Remington Model 700 in .308? Not quite sure though...

reply to post by CapsFan8


Aaah, if you remember the people they were trying to help were shooting at them from roof tops. I guess there weren’t finished looting all the stores down town yet.

Originally posted by Beach Bum
Every day it gets harder and harder to say I'm from Tennessee. Plenty of relatives there I miss but plenty of stupidity as well. This is not good.Got an e-mail from a friend saying the swine flu is spreading pretty close to my home town that worries me slightly. How can people fall for this it's a disease not the end of capitalism. Then again if Health Reform fails it's nice to have a plan B.

[edit on 10-04-08 by Beach Bum]

[edit on 10-04-08 by Beach Bum]

Hey, I am from Tennessee and proud of it! Stupidity? I have traveled around and have met some of the most ignorant people all over the country, most of them from large Cities. Being from Tennessee I did not know people could be so stupid untill I traveled. We are not stupid people! I am ashamed to admit that people like you are from Tennessee. I bet other states have this too and it just hasn't went public. I bet this one from Tennessee wasn't supposed to be.

[edit on 21-8-2009 by Melissa101]

I would like to know how somebody knows what an act of god is. So if he did something good they close to?

I used to work in a bank and my wife currently does, so this is my thought on this article.

The state isn't telling them to close, it's lifting the normal restrictions against closing for more than 2 days. It's still upto the bank to decide to close, but now the bank can close if it has too much staff out sick rather then put itself at risk from too few staff or risk infecting the public.

As for act of god, that usually means an earthquake, flood, fire, hord of locust, meteor or something completely unanticipated.

Why would the government have to close banks in order to fix the banking system? Everything is done electronically nowdays, unlike prior crashes when everything was done manually.

I can see banks being closed due to a massive outbreak of swine flu, that is why everyone should have some cash around the house, just in case.

The F.D.I.C. has been closing a few bank every week, mostly on Fridays, and the reason they do this is so there is not mass panic or confusion. If the government was to ever shut down all the banks, or even banks in certain regions, the shotguns would come out and there would be mass panic and riots in the streets.

I just can not see that happening, but that is only my opinion.

Edited to correct spelling.

[edit on 21-8-2009 by amaranth]