Member question: For business continuity or emergency use purposes, are you holding any physical cash on hand at one of your sites?
Peer Survey Results: “No” wins in a landslide.
Peer answer: “Our US company does not currently keep any cash ‘under the mattress,’ however I do think there are some places around the globe that do have some [a country in Latin America].
“I’m assuming you are asking this post-Fedwire disruption? Was anyone negatively impacted by that? I am wondering if anyone is preparing any sort of BCP plan for an extended Fedwire disruption.
“We did not have any negative impact – everything was able to be pushed through the systems. I am having some follow-up conversations with my primary US banking partner to talk through potential BCP scenarios in the event another outage occurs that extends beyond the business day.”
