Cash has begun flowing again from the Federal Reserve’s steel and cement vault in Houston, heading for banks in the hurricane-ravaged region after several days of flooding halted armored-truck deliveries and stranded employees overnight.
In the wake of Hurricane Harvey this week, water from a nearby bayou rose onto the property of the U.S. central bank’s office in downtown Houston but did not reach the building nor its vault, senior Fed officials said.
The floods, which drenched the Gulf of Mexico coast and killed at least 35 people, marooned the Fed branch for a few days and stopped cash shipments just as demand surged from nearby lenders. The first private truck re-started deliveries on Wednesday, joining a fleet of others making emergency trips from the Fed’s San Antonio and Dallas offices to local banks that, in many cases, were not able to open this week.
Those backup branches are delivering