U.S. banks brace for coronavirus crisis, ready disaster plans

Thursday, March 5, 2020
By Paul Martin

There is a storm coming in America and the bankers know it

By Lexi Morgan
March 5, 2020

(INTELLIHUB) — Major U.S. banks have started to test and implement disaster protocols as an imminent crash due to the coronavirus outbreak is looking more likely by the day.

From Yahoo! News:

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.

The storm is coming.

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