A man wearing a face mask walks through the Chinatown section of San Francisco, California. REUTERS/Shannon StapletonWASHINGTON: US-based banks and brokers are in discussions with federal regulators about allowing staff to work from home and other business continuity arrangements amid the spread of the coronavirus, the head of a top financial trade group said on Thursday .
In addition to remote working arrangements, financial firms could potentially move staff to backup locations away from major cities, he said. Several major banks in Hong Kong and Singapore - including HSBC , Morgan Stanley and DBS Bank - have restricted travel to mainland China and are allowing staff to work from home.
On Thursday, the US Commodity Futures Trading Commission told Reuters it is closely monitoring trading as fears of a pandemic pummel markets, sinking global equities, pushing oil futures to their lowest in a year and roiling wheat and corn markets.
Source: News Formal (newsformal.com)
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