From travel bans to disaster-recovery sites, here’s everything we know about how Wall Street banks are handling the spread of coronavirus

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2020-03-06T18:27:57Z

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Banks like Morgan Stanley, UBS, Goldman Sachs, and Bank of America are quickly updating policies in response to the global spread of coronavirus.

Simon Dawson/REUTERS; Samantha Lee/Business Insider


  • The spread of coronavirus has sent Wall Street banks scrambling to put in place policies to protect workers and clients and make sure business can carry on with as little disruption as possible. 
  • The changes come as financial markets are being rocked by worries about the economic impact of supply-chain disruption and containment measures.
  • And the first emergency rate cut by the Federal Reserve since the financial crisis has put even more pressure on banks. 
  • Here’s a look at the latest guidance being given to employees at massive financial institutions that dominate dealmaking, trading, and consumer banking. 
  • Visit BI Prime for more Wall Street stories.

With the global spread of coronavirus, Wall Street banks are grappling with how to keep workers and clients safe while keeping their sprawling operations running with as little disruption as possible. 

We’ve been tracking changes to employee travel policies, disruptions to in-person meetings and conferences, and how banks are deploying contingency plans. We’ve also talked to top bankers to understand how international travel restrictions and a lack of face-to-face meetings could put a big dent in dealmaking. 

The changes come as global financial markets are being rocked by worries about the economic impact of supply chain disruption and containment measures. And the first emergency rate cut by the Federal Reserve since the financial crisis has meanwhile put even more pressure on banks. 

Here’s everything we know right now: 


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