Trillions of dollars of stock certificates are feared to be ruined after the hurricane flooded a vault at the DTCC which houses 1.3m paper certificates for shares, bonds and other financial instruments, including foreign securities, at the organization’s headquarters in the financial district.
All Securities processing functions, including Custody Service, are suspended until further notice. DTCC will not be accepting or releasing any physical certificates during this period. Deadlines for DTCC participants’ fund, settlement and other processes will be as usual.
View notice in full here (links externally to DTCC website).