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Stock, Bond Certificates Held by DTCC Damaged by Sandy Flood

Stock and bond certificates held in an underground Manhattan vault owned by the Depository Trust & Clearing Corp. were damaged by flooding in Hurricane Sandy, according to the DTCC.

The New York-based company that processes transactions in U.S. equities and government, municipal and corporate bonds said it’s too early to determine how many of the 1.3 million physical certificates can be restored, according to a statement. The 40-year-old vault was submerged when the Atlantic Ocean’s largest tropical storm on record slammed New York City. DTCC has hired “disaster recovery and expert restoration firms” to work on the project, the firm said yesterday.