Oct. 30, 2012 – President Obama has declared emergency conditions in New Jersey, New York, Virginia, West Virginia, Delaware, Rhode Island,
Pennsylvania, Connecticut, Massachusetts, Maryland and Washington, D.C., action that makes federal emergency aid available to those areas to deal with Hurricane Sandy.
On Friday, NCUA issued a statement urging credit unions to prepare for the approaching storm and said it was prepared to activate its disaster policy where needed. When NCUA does, this, it may encourage credit unions to be flexible with affected members regarding loan repayment terms, restructure current obligations and ease credit terms for new loans to certain borrowers.
Treasury moved up its auction of four-week bills to Monday in light of expected, ongoing storm issues.