Pandemic Guidance Issued by Regulators as Coronavirus Spreads

Wall Street firms must prepare themselves to be able to continue operating if a pandemic spreads across the U.S., banking regulators said Friday.

The financial-industry watchdogs released updated pandemic guidance through the Federal Financial Institutions Examination Council that outlines how bankers should plan for the spread of a major disease. The planning should be distinct from similar strategies that apply to emergencies such as hurricanes or cyber attacks, the regulators said.

“Business continuity plans should address the threat of a pandemic outbreak and its potential impact on the delivery of critical financial services,” according to the document.

The pandemic guidance ...