Can corona virus or any other epidemic disease can collapse Banking?

[travwill]

I used to think that no, but now I am inclined to believe that the epidemic can somehow affect cryptocurrencies.
Indeed, thanks to the epidemic, a global financial recession can begin that will lead to the fact that people will move their assets towards cryptocurrencies in order to maintain their value, unless of course the cryptocurrency can prove to be sufficiently stable in such a period.

[ultrloa]

I used to think that no, but now I am inclined to believe that the epidemic can somehow affect cryptocurrencies.
Indeed, thanks to the epidemic, a global financial recession can begin that will lead to the fact that people will move their assets towards cryptocurrencies in order to maintain their value, unless of course the cryptocurrency can prove to be sufficiently stable in such a period.

I believe that before but this current US stock exchange huge decline makes me think that it can affect all aspects and provably including the cryptocurrency and come to think of it we are on halving season but yet we are experience a series of dumps and maybe those things are some effect since many people cannot participate to buy since they have a threat in there country.

[tippytoes]

I used to think that no, but now I am inclined to believe that the epidemic can somehow affect cryptocurrencies.
Indeed, thanks to the epidemic, a global financial recession can begin that will lead to the fact that people will move their assets towards cryptocurrencies in order to maintain their value, unless of course the cryptocurrency can prove to be sufficiently stable in such a period.

People will now find a way on how to move their assets without traveling as traveling increases the risk of getting infected. And one good option right now, is exploring the world of crypto.

[Kasabus]

I used to think that no, but now I am inclined to believe that the epidemic can somehow affect cryptocurrencies.
Indeed, thanks to the epidemic, a global financial recession can begin that will lead to the fact that people will move their assets towards cryptocurrencies in order to maintain their value, unless of course the cryptocurrency can prove to be sufficiently stable in such a period.

People will now find a way on how to move their assets without traveling as traveling increases the risk of getting infected. And one good option right now, is exploring the world of crypto.

Crypto right now is a good option if they want to transact online money transactions without traveling. Corona virus is not really a deadly virus if you know how to manage yourself not to be infected. It's not like HIV where it is contagious and deadly. So i don't think corona virus will greatly affect banking but it may somehow affect the economy of such country and result to high inflation for the basic necessities.

[samcrypto]

Virus can collapse the humanity if we continue to fail to live as a human. Banking industry is not that strong so expect that if there’s a big tragedy around the world people will panic and they will have to get their money to support their health and condition. We should learn from this current virus, start to live healthy and always protect your health so you can enjoy your life, and you can still see bitcoin to the moon.

[BlackFor3st]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

This kind of outbreak will surely affect the economy of every country that will be hit by this kind of virus because if you are going to look on what is happening in the Wuhan right now, there city is like a ghost town which is very opposite at the time that there was no virus. I can't literally tell whether it will bring an inflation globally because if in case this virus will likely to spread all over the globe and there will no cure to it then I am pretty sure that every government will unite to find a cure to this virus.

Banking system will not collapse easily not unless all the governments will decide to remove it and will replace by digital asset in the future.

[Assface16678]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

This kind of outbreak will surely affect the economy of every country that will be hit by this kind of virus because if you are going to look on what is happening in the Wuhan right now, there city is like a ghost town which is very opposite at the time that there was no virus. I can't literally tell whether it will bring an inflation globally because if in case this virus will likely to spread all over the globe and there will no cure to it then I am pretty sure that every government will unite to find a cure to this virus.

Banking system will not collapse easily not unless all the governments will decide to remove it and will replace by digital asset in the future.

One of the popular outbreaks today is with the very popular virus today that is the coronavirus or the NCov virus this virus comes from the place of Wuhan, China because of the exotic foods that came from the bats and more. If the outbreak will continue many people getting pull out their money and transfer into different country to make sure that they are going to skip to the virus and that kind of massive action will may affective the worldwide trading of money also it will cause of bankruptcy to the community, for now, many people are making study and work together to make sure that the outbreak will be cure immediately and avoid loss of too many lives.

[Ozero]

The situation with coronavirus is very artificially inflated. This virus is not as scary as it is presented to us. About 93 thousand were infected with this virus and more than 50 thousand have already been cured. Only a little over three thousand dead. A typical seasonal viral disease has roughly the same results. Perhaps they plan to make very good money on the coronavirus vaccine.
Of course, coronavirus cannot lead to the collapse of the banking system. She survived all the epidemics much worse than this.

[South Park]

The 2008 economic collapse was fueled by banks leveraged exposure to declining subprime real estate and other assorted markets.

If the corona virus negatively impacts markets bankers have leveraged positions in, it could be bad for them. History could repeat.

Derivatives markets today are not safer or better regulated than they were in 2008. Its entirely possible we could see a sequel.

I will say that a sequel of the previous crisis is a given at some point in the future, all the issues with those markets were never fixed despite many voices arguing that it was needed and that if it was delayed any kind of drive to change those markets will eventually fade away, and they were right, now things are way worse since back then since those losses were converted in national debt and if the same happened again governments will be very limited on what they can do to try to solve the crisis.

[hatshepsut93]

Hyperinflation only happens when a government decides to start printing money to cover their spendings, but if they don't do this then there's no hyperinflation. Economic crisis on it's own doesn't cause hyperinflation, it can devalue a national currency, but not on a scale of Venezuela or Zimbabwe. Also, there was a huge epidemic 100 years ago known as the Spanish flu, it was way more serious than the coronavirus, and as you can see, banking didn't disappear.

[igglyboo92]

Hyperinflation only happens when a government decides to start printing money to cover their spendings, but if they don't do this then there's no hyperinflation. Economic crisis on it's own doesn't cause hyperinflation, it can devalue a national currency, but not on a scale of Venezuela or Zimbabwe. Also, there was a huge epidemic 100 years ago known as the Spanish flu, it was way more serious than the coronavirus, and as you can see, banking didn't disappear.

Its crazy that people are freaking out so much about this Corona virus. If we look at the numbers it's quite a small matter indeed!! The clickbait news media culture is very unhealthy. It seems to thrive off fear and hysteria.

Markets are dumping and Cash is King for a little while as a result. I don't think banking or fiat currencies would collapse because of this.

[coinfinger]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Lots of companies are now working from home, I don’t really know if banks are going to do the same. Bank is something different , they manage money and everyday comes to pay in their money into the bank. I think what they are really going to do is to find ways to protect themselves, maybe by wearing protective clothes and gloves to prevent them from making contact with money that has been infected.

There are lots of ways that they can protect their staff from being infected by the virus. And moreover I don’t think the world is going to suffer. No matter what happens we will find a way to adapt to the changes and survive man.

[julius caesar]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Disasters and viruses will for surely gonna affect the current economy of the country because transaction might stop because of these disasters and sickness in the said country. It will stop the transaction between the other countries since they need to focus into their inside problem rather than exchanging their products outside.

[Blackdeath]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Disasters and viruses will for surely gonna affect the current economy of the country because transaction might stop because of these disasters and sickness in the said country. It will stop the transaction between the other countries since they need to focus into their inside problem rather than exchanging their products outside.

Indeed. Disasters and viruses do really have a huge effect in a economy of a country through mortality, medical treatment, or effects of productivity. It could really stop every productivity and transactions in a country, that is why it is really a bad news for China to have this kind of virus in their country.

[Magkirap]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

Disasters and viruses will for surely gonna affect the current economy of the country because transaction might stop because of these disasters and sickness in the said country. It will stop the transaction between the other countries since they need to focus into their inside problem rather than exchanging their products outside.

Indeed. Disasters and viruses do really have a huge effect in a economy of a country through mortality, medical treatment, or effects of productivity. It could really stop every productivity and transactions in a country, that is why it is really a bad news for China to have this kind of virus in their country.

Actually it will affect almost every process or transaction happening inside and outside the country and having people stay in their homes and goes out rarely will really affect every establishments such as banks for no one can use their services offered, their ecomics will be shaken but in this times i think most countries have reserve a plan for this kind of situation so we just need to stay still and hope for stability.

[TheGreatPython]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

In most countries companies have allowed their staffs to stay indoors and work from home and there are some places that have locked down and people are no longer permitted in those places. I don’t really know how banks in other countries are handling this issue, but as for my country, banks are still functioning and their staffs are going to work every blessed working day from Monday to Friday lol.

I don’t know if it’s really possible for them to work from home, but they are doing their best at work to prevent infection. I guess  the next 10 to 20 days will be more crucial like where global economy will head from today's state. If there will be an anti-virus of corona then I guess we can restore everything in the matter of few weeks. Let's pray for that.

[mersal]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

In most countries companies have allowed their staffs to stay indoors and work from home and there are some places that have locked down and people are no longer permitted in those places. I don’t really know how banks in other countries are handling this issue, but as for my country, banks are still functioning and their staffs are going to work every blessed working day from Monday to Friday lol.

I don’t know if it’s really possible for them to work from home, but they are doing their best at work to prevent infection. I guess  the next 10 to 20 days will be more crucial like where global economy will head from today's state. If there will be an anti-virus of corona then I guess we can restore everything in the matter of few weeks. Let's pray for that.

I read it will take 12 to 18 months for producing proper medicine to treat corona virus so we are just in the beginning more worse situation is yet to come.But the summer might be a saviour on that the virus can no longer withstand on their own.

But I guess OP is talking about economic crisis and its already happening on most of the stock market.

[thesmallgod]

Collapse of banking is not likely to occur due to endemic disease. Although the market are always affected just like what is happening now but the effect on the banking may not cause the total collapse of the banking sectors. People will still transact and most importantly, bank play a key role in containing the epidemic because through it, materials are being purchased. Also some countries that depends seriously on others might suffer more.

[elisabetheva]

Imagine Corona virus or any epidemic disease affected globally. As a result, all the economy will be affected and people will face hard time. Will not it bring an affect in economic balance? Which will turn into high inflation globally and it will result collapse of the banking system. Will it? In my country, the situation is getting worse for product which we are depended on China. I can see a significant inflation here if Corona Virus issue continued.

can be ascertained if there is an outbreak like corona today, we know that transmission is quite easy and fast with physical contact and tools that are held by the sick. it is certain to affect the economies of all countries whether affected or not. many must not be able to do any activities because they have to stay at home. resulting in trade becomes paralyzed because there is no distribution so the factory must stop. I hope this epidemic can quickly pass and life can go back to normal, and boost the disrupted economy.

[Betwrong]

Some calamities can indeed affect the economy, but Coronavirus is not one of them. Around 3k people have died from it globally, but we know that from 12k to 61k people have died from the flu every year since 2010 in the US alone.

In short, this Coronavirus thing is a vastly over-hyped scare story the media force-feeding their readers and viewers with. It will hardly affect the economy, and surely it will not lead to collapse of banks.

I will not agree to that, Coronavirus may not be a life-threatening disease like others but the issue is with the rate it spreads to others it is being spread to others at a very faster rate like more than one lakh people in the last two months is very high this will prevent from proper functioning of the economy thereby affecting the banks. If it is controlled there won't be any issues but if it is not controlled then it is a serious issue for the economy.

Please, read reliable sources before making statements. In the recent report by the World Health Organization they say that common influenza viruses spread faster than COVID19 does.

Source: https://www.who.int/docs/default-source/coronaviruse/situation-reports/20200306-sitrep-46-covid-19.pdf?sfvrsn=96b04adf_2

As per the latest news Pfizer has announced that it has come up with the possible treatment for the coronavirus. Let's hope for the best

There are more than 20 vaccines in development for COVID-19 currently. Pfizer or someone else will surely find a solution soon.

This situation can affect economies, but mainly because of the news, not the virus itself. And the collapse of banking is out of the question entirely.