DTCC finds 1.3 million soaked securities in Sandy-flooded NY vault
The Depository Trust & Clearing Corp., which processes financial transactions and stores securities, has begun the long process of recovering about 1.3 million soaked securities that were stored in a 10,000-square-foot underground vault in a lower Manhattan skyscraper flooded by Superstorm Sandy.
The company declined to disclose the value of the stocks and bonds. But it was a “very small percentage” of the $39.5 trillion of stocks and bonds that its depository stores, DTCC spokeswoman Judy Inosanto said. The percentage of securities that are handled electronically are in the “high 90s”, she said.
Inosanto declined to say when the company was able to open the vault at 55 Water Street, which was flooded more than two weeks ago by surges churned by Superstorm Sandy. But when it did, DTCC found significant flooding and water damage.
https://www.reuters.com/article/us-storm-sandy-securities-idUSBRE8AE02G20121115
and then they set it on fire.