if the internet goes down for an extended period of time how would it impact banking? Would banks be able to operate like normal?

Question

if the internet goes down for an extended period of time how would it impact banking? Would banks be able to operate like normal?

In: Economics

Answer 1

If you don’t include private leased lines in the internet, and you really shouldn’t as they are pretty much entities on their own, one thing that would keep functioning as normal, is trading on the stock exchanges in the USA (and many other countries as well).

There are high speed private networks between the stock exchanges and major banks, decoupled from the internet, so the “internet” dropping out would not impact that.

For many exchanges, if you want to be a directly trading member, it is even mandatory for your organization to be connected to the exchange network through such private lines, not the open internet.