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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.
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!
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)
There is absolutely nothing in this at all.
This is nothing more than business as usual stuff that has been blown out of proportion.
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.
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".
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.
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.
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.
China and Russia doing it too then eh?
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.
I don't however care for these types coincidences.
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.