Banks Ready Disaster Plans For The Coronavirus

AFP: Coronavirus: US banks ready disaster plans: sources

New York (AFP) - Large US banks have begun testing crisis measures in case of a broader coronavirus outbreak that prevents staff from going to work, banking sources told AFP.

JPMorgan Chase, Morgan Stanley, Goldman Sachs and Citigroup have asked hundreds of workers to work from home as part of emergency preparedness.

"We are asking some employees to work from home over the next two weeks just so we can test systems and remote access," said one person familiar with the process, characterizing the step as "typical contingency stuff."

JPMorgan has undertaken tests at a disaster recovery site in London and two in the United States, in Brooklyn and the state of New Jersey, a source told AFP.

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WNU Editor: It is already happening .... London’s Canary Wharf in coronavirus panic: HSBC offices evacuated (Express).

Update: Never let a crisis go to waste .... Wall Street is seizing on the coronavirus to push the federal government to further roll back regulations (Business Insider).