Business continuity after Hurricane Sandy
When Hurricane Sandy hit New York City in 2012, residents needed their banks to be up and running as quickly as possible after the storm. With challenges from transportation to communication, Jessica Meek investigates how banks' business continuity plans held up
Hurricane Sandy hit New York City on October 29, 2012. By this time, all flights into and out of New York’s three main airports – JFK, Newark and LaGuardia – had already been cancelled and the subway system ordered to close. On top of this, tunnels in and out of the city were closed. By the time Sandy hit, trading on both the New York Stock Exchange and the Nasdaq exchange had been suspended until October 31.
The estimates of the costs of damage to the US caused by Sandy are in the region of $60
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