Tennessee BANKS May CLOSE Due To SWINE FLU 'Pandemic' by out2theblack

REAL WORLD EVENT DISCUSSIONS

Tennessee BANKS May CLOSE Due To SWINE FLU 'Pandemic'

POSTED BY: OUT2THEBLACK
UPDATED: Monday, October 26, 2009 18:00
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Monday, October 26, 2009 1:43 PM

http://www.tennessee.gov/tdfi/banking/bulletins/B-09-1.html

TO: All Tennessee State Chartered Banks
SUBJECT: Closing of Bank Offices - TCA §45-2-603 and §45-2-604
DATE: August 5, 2009

This bulletin is intended to address specifically the issue of suspending
bank office activity in response to possible H1N1 (swine flu) outbreaks
and more generally to emergency powers of banks in response to disasters.
Additionally, this bulletin provides certain guidance should a Tennessee
state bank close certain offices under the authority of TCA §45-2-603 and
§45-2-604 in the discretion of its directorate and management.

Banks organized under the laws of the State of Tennessee may, at their
discretion, temporarily close offices or operations in areas affected by
an emergency resulting from fire, act of God, attack by a foreign nation,
riot, insurrection, civil disorder or any similar disaster without prior
approval of the commissioner in accordance with TCA §45-2-603 and
§45-2-604.

The Department of Financial Institutions considers bank determinations
that H1N1 outbreaks pose legitimate health risks to the general public or
significantly impacts the ability of a banking institution to maintain an
appropriate level of personnel on site to meet customer needs to be
included among any "similar disaster" as referenced in TCA §45-2-603.
Other events may also be included among any similar disaster, and the
directorate and executive management are encouraged to use reasonable
discretion in applying TCA §45-2-603 and §45-2-604. However, the safety of
institution personnel and local citizens are of paramount importance when
evaluating the appropriateness of closing offices.

We encourage institutions to carefully monitor and consider any guidance
issued by state and federal government authorities regarding such events.
While TCA §45-2-603 and §45-2-604 do not require the Department's prior
approval for office closings in certain events, we do encourage
institutions to notify both the Department as well as their primary
federal regulator in as timely a manner as reasonably possible in the
event of such a closing. Additionally, institutions should make a
reasonable effort, in consideration of the public safety, to notify and
accommodate customers.

This bulletin shall serve as notice that no specific prior approval from
the Department is required for Tennessee state-chartered banks to be
closed more than two consecutive business days should a Tennessee
state-chartered bank, in its discretion, determine it is necessary to
temporarily close the bank or an office of the bank in accordance with TCA
§45-2-603 and §45-2-604, pursuant to an H1N1 outbreak or similar disaster.

Banks should be advised; however, that if the Federal Reserve is open that
the Federal Reserve may continue to present cash items to banks even if a
particular bank has exercised its discretion to close the bank or one of
its offices in accordance with TCA §45-2-603 and §45-2-604. Please contact
your respective Federal Reserve branch for further guidance.

Questions regarding this Bulletin should be addressed to Tod K. Trulove,
Assistant Commissioner - Bank Division, at 615/741-6013 or Tina G. Miller,
General Counsel, at 615/532-1030.
Greg Gonzales , Commissioner

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Monday, October 26, 2009 1:49 PM

PIRATENEWS

John Lee, conspiracy therapist at Hollywood award-winner History Channel-mocked SNL-spoofed PirateNew.org wooHOO!!!!!!

How CON venient...

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Monday, October 26, 2009 1:54 PM

OUT2THEBLACK

Quote:
Originally posted by piratenews:
How CON venient...

'Zactly !

Nat'l 'Emergency' , and all...

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Monday, October 26, 2009 2:08 PM

PIZMOBEACH

... fully loaded, safety off...

Quote:
Originally posted by piratenews:
How CON venient...

What THE fuck...

Scifi movie music + Firefly dialogue clips, 24 hours a day - http://www.scifiradio.com

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Monday, October 26, 2009 6:00 PM

DREAMTROVE

Well put, John,

Pizmo,

he means that it's a convenient "emergency" to protect against a run on the bank. Currently, almost no financial institution has any more than pennies on the dollar of the money that was deposited in it. A rerun of 80 years ago is quite possible.

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