Consumer & Business Response

Disasters are unpredictable and can be devastating to a community. But there is a lot your bank can do to help prepare your customers for these events.

Help Consumers Prepare for a Natural Disaster

Disasters are unpredictable and can be devastating to a community. But there is a lot your bank can do to help prepare your customers for these events.

Share these tips:

  • Store important documents such as proof of identity, property ownership, insurance policies, bank and investment account information, and three years of tax returns in a bank safe-deposit box. Encase these items in plastic bags to prevent moisture.
  • Prepare additional copies of critical documents such as birth certificates, adoption papers, marriage licenses and the deed to your home for safekeeping and inform a trustee, relative or attorney of their location.
  • Print out key contact information for executors, trustees and guardians and store it in a secure location, either in your safe-deposit box or with a close relative.
  • Inventory personal and household valuables (take photos and keep receipts) to help evaluate replacement costs.
  • Include surplus cash, preferably small bills, in your home emergency kit. The kit should also include a three-day supply of food and water, a first aid kit, can opener, radio, flashlights and batteries.
  • Create digital copies, which can serve as a supplement or backup to paper documents.  Scanned or electronic documents can be uploaded with secure online backup services.
  • Contact your insurance agent or visit the Federal Emergency Management Agency’s website to determine if a flood insurance policy is right for you.

Fed removes some coin allocation caps

The Federal Reserve removed coin allocations for pennies and quarters while raising caps for nickels and dimes by 25 percent as Reserve Bank coin inventories near pre-pandemic levels.

In a message to Federal Reserve Cash Services customers, the Fed said it will apply the updated standards to small, medium, large, X-large, and XX-large "endpoint" groups. The sizing regime is based on historical ordering volumes and doesn't correspond to bank size.

The Fed asked customers to order only what they need to meet near-term demand, noting that coin circulation is improving but has not been fully resolved.

Meanwhile, the U.S. Coin Task Force continues calling on financial institutions to use resources on its Get Coin Moving site to encourage consumers to gather, turn in, and circulate their coins.