Transformer Explosion Near Pittsburgh Office of the Federal Reserve Bank of Cleveland Causes Minimal Damage; Operations Uninterruptedgreenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread
BW0022 OCT 08,2000 15:25 PACIFIC 18:25 EASTERN
Transformer Explosion Near Pittsburgh Office of the Federal Reserve Bank of Cleveland Causes Minimal Damage; Operations Uninterrupted
CLEVELAND--(BUSINESS WIRE)--Oct. 8, 2000--An explosion occurred on Sunday afternoon, October 8, near the Federal Reserve Bank of Cleveland's Pittsburgh Office, located on Grant Street in downtown Pittsburgh. The explosion originated in an underground electrical transformer adjacent to the Pittsburgh Office on William Penn Way. The cause of the explosion is not yet known. However, none of the Bank's 350 employees were injured in the blast.
The explosion caused minimal damage to the Bank's building. Damage was limited to the exterior of the building as the result of smoke from the explosion and a subsequent fire. City fire crews extinguished the flames, preventing any damage to the interior of the building. While utility electrical power is not currently available, the Bank is equipped with generators to provide power in emergency situations. These generators have been activated, and the Bank's normal operations have been resumed.
The Bank's employees are advised that scheduled work hours are in effect unless otherwise notified by their immediate supervisors.
The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks in the United States that, together with the Board of Governors in Washington, D.C., comprise the Federal Reserve System.
The Federal Reserve Bank of Cleveland, its two branches in Cincinnati and Pittsburgh, and its check processing office in Columbus, serve the Fourth Federal Reserve District. The Fourth District includes Ohio, western Pennsylvania, the northern panhandle of West Virginia, and eastern Kentucky.
The Federal Reserve System is responsible for formulating and implementing U.S. monetary policy. The System also supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government.
-- Carl Jenkins (Somewherepress@aol.com), October 09, 2000