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Fed preps for 'extraordinarily high' cash need in Puerto Rico

Monday, October 02, 2017

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Company: ATM Industry Association

The Federal Reserve Bank of New York, whose district includes the U.S. territory of Puerto Rico, issued a statement on Wednesday regarding cash operations on the island following the catastrophic destruction wreaked by Hurricane Maria.
The Federal Reserve Bank of New York's cash operations in Puerto Rico are working, and we have adequate inventory to meet demand from depository institutions on the island. Demand for cash is extraordinarily high right now, and will evolve as depository institutions regain power, armored car services are able to reach branches, and ATMs are once again active. ‎We are coordinating with local and national authorities to monitor the situation on the ground very closely, and are actively preparing to meet any sustained elevated‎ currency demand in the future.‎

 

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