RealNews

Officials say U.S. banking system protected in event of terrorist strike

A terrorist strike on a U.S. bank, even a huge bank in New York City, would have little impact on the country’s banking system as a whole, reflecting the large number of backup systems that have been put in place since the Sept. 11, 2001, attacks, officials said Sunday. Millions of dollars have been spent to develop redundant systems that could take over in the event of a terrorist attack against an individual bank to make sure that people could still cash cheques, make deposits and withdraw money from automatic teller machines. “The Treasury Department has been closely co-ordinating with Homeland Security officials as well as other state, federal and local regulators to strengthen and protect our critical financial infrastructure,” Treasury Department spokesman Robert Nichols said Sunday. Those moves have included improving communications systems connecting major financial institutions and federal regulators and conducting numerous drills to test backup systems in the event of a terrorist attack. Full Story

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