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Federal Reserve Issues Warning, Bank Drills - Feb 15-16

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posted on Feb, 7 2014 @ 10:38 AM
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Phage
reply to post by Bassago
 


Here the Fed and banks seem to be looking to external disaster preparedness.

No.
SR 14-1 is not about disaster preparedness. It is about bank holding companies ensuring that the assets they are dealing with are valid. Nothing about "external disaster".


Through horizontal comparisons, Federal Reserve supervisory staff has observed a range of capabilities which are critical to certain large bank holding companies’ operational resilience and contingency planning in circumstances where capital and liquidity buffers are strained and to the resiliency of the financial system as a whole. Specifically, a bank holding company subject to this guidance should have:

www.federalreserve.gov...

Oh, BOK is not on the list of 8 holding companies referred to in the letter.


Thanks for clearing tha up Phage.

I was prompted to respond that most federal agencies, FRBs and commercial banks have had disaster preparedness "drills" for ages.
That sort of thing never made the news, too mundane - but any commercial mainframe operation in the 20th century always had continuation-of-business, dispuption-of-service, contingency, threat, and backup plans, typically with component testing on a regular basis.

I still don't find the story particularly news worthy other than the FRB publicly identified certain bank holding companies as critical to the economy, something you'd usually find in the financial press.
I guess there is significant media play in the "shock value" or imputed significance of the event, otherwise, why is this news?

ganjoa
edit on 7-2-2014 by ganjoa because: (no reason given)




posted on Feb, 7 2014 @ 03:34 PM
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13th Zodiac
Get your Money, get food. Store some fuel. This is working like Clock Work. What really gets me, is why NOT ONE member here is talking about the Davos Economic Sumit just pasted. Within 24 hrs the collapse began. This was planned, and has nothing to do with the crap the talking heads are using as excuse for the stock market! Planned and executed. Fact! Get your S%¤T together! It is not comming anymore it is here!


Can you further explain the "Davos Economic Summit and the 24 hours till collapse begins..." portion of your post for me?

I am curious where you heard this connection and would like to look into it further.

God Bless,
edit on 7-2-2014 by ElohimJD because: (no reason given)



posted on Feb, 7 2014 @ 04:12 PM
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ElohimJD

13th Zodiac
Get your Money, get food. Store some fuel. This is working like Clock Work. What really gets me, is why NOT ONE member here is talking about the Davos Economic Sumit just pasted. Within 24 hrs the collapse began. This was planned, and has nothing to do with the crap the talking heads are using as excuse for the stock market! Planned and executed. Fact! Get your S%¤T together! It is not comming anymore it is here!


Can you further explain the "Davos Economic Summit and the 24 hours till collapse begins..." portion of your post for me?

I am curious where you heard this connection and would like to look into it further.

God Bless,
edit on 7-2-2014 by ElohimJD because: (no reason given)


I was aware of this comming before it began, watching other indications and law changes that have been comming into place in my country (Australia) since last November. Please read a thread called Happy Australia Day ( only 3 pages ). I started warning people of the crash there, before the markets fall began. I knew what was comming, on the back of this 4 day long Economic Sumit in Davos Switzerland. There I also spoke of a Australian and American Spring. This IS a set up! The Market fall began 24, hours after this Summit ended.


Happy Australia Day Link www.abovetopsecret.com...

Sorry ElohimJD , I have made dozens of attempts to attatch links to the summit. Every link has been broken for some strange reason and when I return to the originals they are removed or changed.

Please search google, Davos economic forum 2014.There are plenty of meaningless MSM articles, don't expect a confession of Conspiracy though, you won't get one.For obvious reasons.Just take note that as I said . it ended 24 hrs Before the start of the market fall. It is not a coincidence.
edit on 7-2-2014 by 13th Zodiac because: (no reason given)



posted on Feb, 7 2014 @ 06:31 PM
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There is absolutely nothing in this at all. Regulators send these kinds of letters out whenever they feel there is a need to clarify expectations with companies.

The drills being conducted as the usual disaster recovery drills that happen at least annually and often more regularly than that. Banks must have the ability to recover systems should something fail (ie simple things like a power outage, or a communication/server failures).

This is nothing more than business as usual stuff that has been blown out of proportion.



posted on Feb, 7 2014 @ 09:11 PM
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reply to post by zvezdar
 




There is absolutely nothing in this at all.

This is nothing more than business as usual stuff that has been blown out of proportion.


Very well, I feel much better now. Nothing to see here move along.

... still pulling out all my money though.



posted on Feb, 7 2014 @ 09:26 PM
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Very handy that the date they chose for this is payday for a good number of workers. I get paid on the 15th and the last day of the month as do probably millions of others.



posted on Feb, 7 2014 @ 09:29 PM
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Drills like this alarm me. Given the 'drills' in the past there is plenty of reason to be alarmed. We'll see....




posted on Feb, 8 2014 @ 01:28 AM
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Bassago
reply to post by zvezdar
 




There is absolutely nothing in this at all.

This is nothing more than business as usual stuff that has been blown out of proportion.


Very well, I feel much better now. Nothing to see here move along.

... still pulling out all my money though.


And in that may lay the very reason for this News article, get enough people to pull money out at a time the markets are in decline, just adding more to the financial woes.
And they will blame "The People" for over reacting
edit on 8-2-2014 by Village Idiot because: (no reason given)



posted on Feb, 8 2014 @ 06:08 AM
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It takes more than that to get a proper run going when you aren't in a time of crisis (and no, we are't there...yet).

You guys in the States seem to be more relaxed about banking systems going down on the whole, it seems to take a lot to panic people. Here in Australia any of the banking systems have a brief glitch and it's front page news everywhere. That's despite our laws being stronger in terms of protecting deposits!

BTW, i didn't post in a 'move along, nothing to see here' effort. I posted because it is useful to understand some of the mechanics of what goes on behind the scenes. The better you understand how things are working, the easier it is to both identify actual problems and and also know when claimed problems actually aren't. Far too many people panic about small stuff, and can often be missing the forest for the trees.



posted on Feb, 8 2014 @ 07:58 AM
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Phage

No.
SR 14-1 is not about disaster preparedness. It is about bank holding companies ensuring that the assets they are dealing with are valid. Nothing about "external disaster".




Then why the references to Cyclones and external natural disasters on the forms on that site link given? They do use that ' external disaster' modus as a reference.

The Bank of Ok one reads: " Recent natural disasters etc... Hurricane Sandy..etc.. has demonstrated we need to be prepared for unforeseen events"

Why write that at all if it is simply a matter of internal cash chaches and ensuring funds etc.. Also, why Bank of NZ affected if it is just an internal US thing?


Ro
edit on 8-2-2014 by Rosha because: (no reason given)



posted on Feb, 8 2014 @ 08:03 AM
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zvezdar
There is absolutely nothing in this at all. Regulators send these kinds of letters out whenever they feel there is a need to clarify expectations with companies.

The drills being conducted as the usual disaster recovery drills that happen at least annually and often more regularly than that. Banks must have the ability to recover systems should something fail (ie simple things like a power outage, or a communication/server failures).

This is nothing more than business as usual stuff that has been blown out of proportion.




If drills of this type are are so common place then,could you please quote/provide us with an item of paperwork or an image of said paperwork that shows this kind of event occurring as globally, ever before, ever? Can you provide any internal banking announcement to us that demonstrates previous drills of this nature have occurred on this same scale? I do not mean ones that are routinely scheduled, like internal fire drills or similar, ones that are required by law...


thanks

Ro.



edit on 8-2-2014 by Rosha because: (no reason given)



posted on Feb, 8 2014 @ 09:14 AM
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reply to post by Rosha
 





Then why the references to Cyclones and external natural disasters on the forms on that site link given? They do use that ' external disaster' modus as a reference.

Because SR14-1, the memo from the Fed, has nothing to with disaster preparedness. It's pretty clear what the memo is actually about and it is not a "warning" as claimed by the title of this thread.

Yes, banks are having disaster preparation drills. Seems like a good idea to me.



posted on Feb, 8 2014 @ 09:24 AM
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Phage
reply to post by Rosha
 





Then why the references to Cyclones and external natural disasters on the forms on that site link given? They do use that ' external disaster' modus as a reference.

Because SR14-1, the memo from the Fed, has nothing to with disaster preparedness. It's pretty clear what the memo is actually about and it is not a "warning" as claimed by the title of this thread.

Yes, banks are having disaster preparation drills. Seems like a good idea to me.



Handy.

Timely.


Thanks for the reply.

Ro.
edit on 8-2-2014 by Rosha because: (no reason given)



posted on Feb, 8 2014 @ 09:27 AM
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reply to post by Rosha
 




China and Russia doing it too then eh?

Chinese and Russian banks are having disaster drills?

Read the memo from the Fed. It has nothing to do with disaster preparedness.



edit on 2/8/2014 by Phage because: (no reason given)



posted on Feb, 8 2014 @ 11:50 AM
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reply to post by Phage
 



Shortly after the “increased supervision” of the big eight, customers at other banks started getting notices of bank drills where services will be limited. A similar email advisory went out to all of their customers. The Bank of Arizona, Bank of Oklahoma, and the Bank of Texas have all been mentioned as having this drill.

Perhaps you're right and the SR14-1 is totally unrelated to the disaster drills taking place within the other banks. Maybe the timing is simply coincidence and prudent planning.

I don't however care for these types coincidences.



posted on Feb, 8 2014 @ 11:52 AM
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reply to post by Bassago
 




I don't however care for these types coincidences.

What kind do you care for?



posted on Feb, 8 2014 @ 12:26 PM
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Testing out bank stability is a standard operating procedure for the Federal Reserve.

The reason that it might prove risky for US financial stability is if the reports find that those banks, such as Bank of America in past drills, fail their stability tests.

This is normal procedure for these banks, nothing to get excited about.



posted on Feb, 8 2014 @ 02:10 PM
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zvezdar
It takes more than that to get a proper run going when you aren't in a time of crisis (and no, we are't there...yet).

You guys in the States seem to be more relaxed about banking systems going down on the whole, it seems to take a lot to panic people. Here in Australia any of the banking systems have a brief glitch and it's front page news everywhere. That's despite our laws being stronger in terms of protecting deposits!

BTW, i didn't post in a 'move along, nothing to see here' effort. I posted because it is useful to understand some of the mechanics of what goes on behind the scenes. The better you understand how things are working, the easier it is to both identify actual problems and and also know when claimed problems actually aren't. Far too many people panic about small stuff, and can often be missing the forest for the trees.


Most Americans are up to their eyeballs in debt. If the electronic banking system were to collapse, that would be their debts wiped out

How are you going to convert a paper debt into currency if the electronic ID systems have gone? Most don't even have a passport and a fake drivers license can easily be bought.



posted on Feb, 8 2014 @ 02:25 PM
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how about this thought!

If you wonted to do a BIG scam.
making a LOT of money go missing or some thing like it.

you would need a way so no one could see whats happening to all the money.
for two days no one will be able to really see whats happening with the money.

so after two day when the backs open.
oops we (all banks) have No money!

if the banks ware hit by a tornado & earth quake & tilde wave.
the money would Still be in the vaults.
they would just need a new bank and people.

and after all that!
you dont go to the bank for money to go to the shops.
you SHOULD get disaster relief. but dont bet on it...



posted on Feb, 8 2014 @ 06:27 PM
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Well I've nothing to worry about lol, I haven't had an account with a bank in decades now. Didn't trust them then and still don't trust them today. My advice to those that are required to do business with a bank is only deposit the minimum amount required to keep your account open and never ever put all of your money into one bank. You have to think squirrel style lol, and stash your nuts in little caches all over the place.



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