Banking Giants Boost Measures as Virus Spreads Across Globe

Global banks rushed to bolster their contingency measures as the threat posed by the novel coronavirus reverberated through the financial system, dragging down stock markets and freezing credit markets.

Credit Suisse Group AG has started to split its workers in South Korea into different offices to ensure business can continue, while lenders including Deutsche Bank AG and Goldman Sachs Group Inc. restricted travel to Italy, the worst-hit nation in Europe.

Pedestrians wearing protective face masks walk in Milan.

Photographer: Camilla Cerea/Bloomberg

The banks are working to ensure they can continue to operate as they brace for the impact of the epidemic on clients, particularly in Asia and Europe. Deals involving ...