FX Markets

Hong Kong banks ready SARS contingency plans

HSBC was first to react to Severe Acute Respiratory Syndrome (SARS), which has now caused 82 deaths, mainly in mainland China and Hong Kong. Anticipating measures outlined by the Hong Kong Monetary Authority (HKMA) last Wednesday (April 2), the bank sent home 50 dealing staff, including FX and fixed-income trading, sales and back-office personnel, on March 28. "They have been asked to stay home for the incubation period of this virus," a spokesperson for HSBC in Hong Kong told FX Week. "Not

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