In the wake of Hurricane Katrina, damage to the financial infrastructure appears to be largely confined to small depository institutions. Directives stemming from the 9/11 attacks require most banking and securities firms to maintain off-site redundancy for significant personnel and daily data backups. The damaged area is sufficiently wide, however, and the possibility of long-term loan delinquency sufficiently high, that greater harm may yet surface. To date, most depository institutions are functioning to some degree and, despite concerns over large
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In the wake of Hurricane Katrina, damage to the financial infrastructure appears to be largely confined to small depository institutions. Directives stemming from the 9/11 attacks require most banking and securities firms to maintain off-site redundancy for significant personnel and daily data backups. The damaged area is sufficiently wide, however, and the possibility of long-term loan delinquency sufficiently high, that greater harm may yet surface. To date, most depository institutions are functioning to some degree and, despite concerns over large
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Jackson, William D. & Miles, Barbara L.Katrina's Wake: Restoring Financial Services,
report,
September 15, 2005;
Washington D.C..
(https://digital.library.unt.edu/ark:/67531/metacrs7650/:
accessed April 25, 2024),
University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu;
crediting UNT Libraries Government Documents Department.