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Wall Street Banks Roll Out Contingency Plans As Irene Nears NY

The Wall Street Journal 08/26/2011 12:51
Wall Street Banks Roll Out Contingency Plans As Irene Nears NY - USA - Business - Finance


Wall Street banks are mostly assuming it's business as usual on Monday, but with Hurricane Irene headed New York's way this weekend they are rolling out contingency plans to keep the infrastructure of America's capital markets working.



Amid concerns about flooding risks in lower Manhattan, evacuation orders and scheduled cancellations of transportation services, some banks are telling their traders and other staff to rely on remote access systems set up at home. Others are planning on sending people to backup sites in New Jersey or further upstate New York.


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