August 28, 2017 / 11:58 PM / 3 months ago

Fed's Houston branch advises banks to retain, reuse cash

Aug 28 (Reuters) - Banks that normally use the U.S. central bank’s Houston branch to replenish their supplies of cash should hold on to and reuse their currency if possible because of potential disruptions from Tropical Storm Harvey, the Federal Reserve said on Monday.

In a notice published on the Fed’s website, the central bank said the Houston branch of the Dallas Federal Reserve Bank would be open on Tuesday “with essential staff” but that flooded and unsafe roads could keep armored trucks from accessing the Fed’s dock to deliver damaged bills and pick up new ones.

“Due to operational constraints imposed by the severe weather conditions, we highly encourage you to retain and reuse currency to the extent possible, and consider exchanging currency among your branches,” the notice said. Banks may also use the Dallas Fed’s office to fill their currency orders, the notice said.

The Fed’s cash depot in San Antonio will be open as normal on Tuesday, the notice said.

Floodwaters from the storm, which has killed at least seven and is expected to drive 30,000 others from their homes, will likely rise in coming days, authorities have warned. (Reporting by Ann Saphir; Editing by Peter Cooney)

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